WHITE PLAINS—If Realtors are feeling a sense of deja vu when it comes to current home sales activity, perhaps they are recalling how conditions were back in 2018 and 2019, which were both considered strong markets at the time. However, the boom market of 2021, with surging sales and soaring prices throughout the region, has…
Read MoreWASHINGTON—Foreign buyers purchased $59 billion worth of U.S. existing homes from April 2021 through March 2022, an 8.5% increase from the previous 12-month period and halted a three-year skid in foreign investment in U.S. residential real estate, according to a new report from the National Association of Realtors released on July 18. Foreign buyers purchased…
Read MoreNEWBURGH, NY—A recently released study by regional research group Pattern for Progress found that media reports and sentiments of area Realtors of a significant exodus of New York City residents to the Hudson Valley were indeed accurate. The Pattern for Progress study released on July 8 found that during 2020—the first year of the COVID-19…
Read MoreGOSHEN—Terming it as one of the most important efforts it has launched in more than 20 years, The Orange County Partnership officially unveiled its “Site Inventory Program” (SIP) that will, over the coming months, seek municipal government input from across Orange County to determine all available properties that could be developed in their respective jurisdictions.…
Read MoreOLD TAPPAN, NJ—Howard Hanna | Rand Realty announced on July 14 that it has increased its presence in the State of New Jersey, and specifically in Bergen County, with its merger with Lancia Realty of Old Tappan, NJ. Lancia Realty, located at 12 Bi-State Plaza, Old Tappan, is now operating as Howard Hanna | Rand…
Read MoreNEW YORK—New York Gov. Kathy Hochul announced on July 13 a total of $200 million in funding for two major downtown revitalization initiatives: NY Forward, a new program aimed at rejuvenating smaller and rural communities, and Round 6 of the state's Downtown Revitalization Initiative. The funding announcement was made in Jamaica, Queens at the ribbon-cutting…
Read MoreALBANY—Property tax levy growth will again be capped at 2% for 2023 for local governments that operate on a calendar-based fiscal year, according to data released on July 13 by New York State Comptroller Thomas P. DiNapoli. This figure affects tax cap calculations for all counties, towns, and fire districts, as well as 44 cities…
Read MoreTARRYTOWN—Northpath Investments, the owner of the two-building office lab/R&D complex at 500 and 540 White Plains Road in Tarrytown, has secured $18.2 million in financing. JLL Capital Markets arranged the financing—a two-year bridge loan with multiple extension options—through Prime Finance. 500 and 540 White Plains Road are located within the Tarrytown Corporate Center in Westchester…
Read MoreHAVERSTRAW—An affiliate of Spring Valley-based Northeast Capital Group has acquired Samsondale Plaza, a 156,185-square-foot shopping center in Haverstraw, for $26.5 million. JLL Capital Markets marketed the property on behalf of the seller, a joint venture between Mark Holdings LLC and Paragon Realty Group LLC. The buyer is an affiliate of Northeast Capital Group. Samsondale Plaza…
Read MoreWHITE PLAINS—The City of White Plains and DSD Renewables (DSD) have completed the construction of a nine-site, 6.8-megawatt (MW) community solar portfolio, the largest municipal solar energy deployment in Westchester County. The portfolio is expected to generate 8,100 megawatt-hours (MWh) of energy annually, tripling the amount of solar energy produced in Westchester County and enough…
Read MoreYONKERS—On July 6, Yonkers Mayor Mike Spano announced the city had reached an agreement to purchase eight parcels of land along the Hudson River in the Ludlow section of the city to be developed into a new waterfront park. The City of Yonkers and Westchester County have committed a total of $20 million towards the…
Read MoreYONKERS—For the first time in more than 10 years, The Municipal Housing Authority for the City of Yonkers will be opening its waiting list for Housing Choice Vouchers (Section 8) for affordable housing. MHACY reported on June 27 that it is seeking to add 3,000 people to its waiting list for affordable housing vouchers. The…
Read MoreWASHINGTON—Pending home sales crept higher in May, ending a six-month streak of declines, according to the National Association of Realtors. Regionally, month-over-month results were mixed as the Northeast and South experienced increases while the Midwest and West posted decreases. Year-over-year contract activity slid in all four major regions. The Pending Home Sales Index, a forward-looking…
Read MoreNEW YORK—New York City Mayor Eric Adams and other city officials were on hand yesterday to cut the ribbon on a 183-unit affordable housing project developed on the former site of the Spofford Juvenile Detention Center in the Hunts Point section of the Bronx. The detention center was closed in 2011, after 54 years in…
Read MoreWHITE PLAINS—Westchester County Executive George Latimer was joined by LGBTQ advocates and others on Wednesday (June 22) to turn the first dirt on the county’s first LGBTQ+ friendly housing development that will bring 140 units of affordable senior housing to Downtown White Plains. The project will also include a larger space for The LOFT LGBTQ+…
Read MoreNEWBURGH—More than a year ago, Genting Americas, the parent company of Resorts World Catskills casino in Monticello, presented plans to the Newburgh Town Board to locate a Video Gaming Machine facility at the Newburgh Mall in eastern Orange County. The new plan was proposed after Genting scrapped an earlier proposal to build a VGM facility…
Read MoreNEW YORK—They’re smart, tech-savvy and in the market for housing, and they’re using social media to see what’s trending and who’s selling. Generation Z—defined as the 72 million people born between 1997 and 2012—are not your typical buyers and that presents challenges and opportunities for Realtors and agents. Real estate experts explored Gen Z’s patterns…
Read MoreSEATTLE—Sales of luxury U.S. homes fell 17.8% year-over-year during the three months ending April 30, the largest drop since the onset of the coronavirus pandemic sent shockwaves through the housing market. By comparison, sales of non-luxury homes fell 5.4%. That's according to an analysis of luxury real estate trends released on June 10 by Redfin.…
Read MoreELMSFORD—The 416-unit The View on Nob Hill Apartments complex here has changed hands. The new ownership is a partnership of New York City-based MC Real Estate Partners, LLC and Tokyo Trust Capital. The off-market transaction conducted on behalf of a large Japanese financial institution was announced on June 9. The seller of the property was…
Read MoreWHITE PLAINS—The Hudson Gateway Association of Realtors and the staff of Real Estate In-Depth regret to inform the membership and newspaper readership of the passing of John Vrooman, who died suddenly on June 5, 2022, at the age of 57 in upstate Lewiston, NY. John authored “Tech Talk” in HGAR’s monthly newspaper Real Estate In-Depth…
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