News

National Resources Secures $230M Refinancing For New Lionsgate Studio Project in Yonkers

April 6, 2022

YONKERS—Greenwich, CT-based development firm National Resources has secured a $230-million refinancing deal for Lionsgate Studios Yonkers, a 500,000 square foot, state-of-the-art film production complex at 28 Wells Ave. in Yonkers. The deal was announced on April 4 by JLL Capital Markets, which worked on behalf of the borrower, National Resources to originate the five-year, fully…

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Westchester County IDA Votes to Grant Preliminary, Final Approvals of Incentives for White Plans Multifamily Projects

April 4, 2022

WHITE PLAINS—At its latest session, the Westchester County Industrial Development Agency has voted preliminary and final approvals of financial incentives for the construction of a pair of multifamily residential projects in Downtown White Plains. The two projects—70 Westchester Avenue and 51 South Broadway—represent a total private investment of $171 million and are expected to create…

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Ukrainian-American HGAR Member Launches Fundraiser for Ukraine

April 1, 2022

IRVINGTON—Luba Sydor, a Ukrainian-American Realtor with Houlihan Lawrence’s Irvington office, has launched a fundraising campaign for medical and military supplies for Ukraine’s Dnipro Territorial Defense Battalion, as Russia continues to wage war on the country. Sydor has established a special Amazon.com shopping list as a convenient way for people to donate much needed supplies: https://www.amazon.com/registries/custom/38Z8HUOB4WHKG…

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MJHS Health System Inks Major Lease Deal at 55 Water St.

March 31, 2022

NEW YORK—In what commercial brokers say is the largest new lease transaction in Downtown Manhattan during the past 18 months, MJHS Health System has signed a 138,374-square-foot office lease at 55 Water St. in Downtown Manhattan. CBRE, which arranged the 30-year lease transaction, reports that MJHS will be consolidating most of its Brooklyn offices as…

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U.S. Pending Home Sales Dwindle 4.1% in February; Northeast Post Slight Increase in Pending Deals

March 31, 2022

WASHINGTON— Pending home sales slipped in February, marking four consecutive months of transaction decreases, according to the National Association of Realtors. Three of the four major U.S. regions saw contract signings fall month-over-month, with the Northeast being the only area that reported an increase. All four regions registered a decline in year-over-year contract activity. The…

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Mortgage Rates Increase to Highest Level in More Than Three Years

March 31, 2022

WASHINGTON—Mortgage applications decreased 6.8% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending March 25, 2022. The Market Composite Index, a measure of mortgage loan application volume, decreased 6.8% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the…

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City of Yonkers Breaks Ground on $76 Million Justice Sonia Sotomayor Community School

March 28, 2022

YONKERS—A host of state and local officials joined Yonkers Mayor Mike Spano, Yonkers Board of Education, Superintendent of Schools Dr. Edwin M. Quezada on Friday for the groundbreaking of the Yonkers Public School District’s new Justice Sonia Sotomayor Community School. To be dedicated to Supreme Court Justice Sotomayor, the new school located at 73 Lawrence…

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Five Questions With Hudson Valley Pattern for Progress CEO Adam Bosch

March 24, 2022

Recently, a new leader took the helm of what some in the business community consider the Hudson Valley’s very own think tank—Hudson Valley Pattern for Progress. The Board of Directors at Pattern for Progress appointed Adam Bosch, 39. to be the organization’s next president and chief executive officer, replacing Jonathan Drapkin, who had led the…

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NAR: Millennials Remain Dominant Home Buyer Generation with 43% Market Share

March 24, 2022

WASHINGTON—The share of millennial home buyers increased significantly over the past year. They are also the most likely generation to use the Internet to find the home they ultimately purchase and most likely to use a real estate agent, according to a report released by the National Association of Realtors on March 23. The 2022…

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Report: Homeownership Growth Continues For Latinos, but Strong Headwinds Persist

March 16, 2022

WASHINGTON—The National Association of Hispanic Real Estate Professionals released the 12th publication of its annual State of Hispanic Homeownership Report on March 16 on the final day of NAHREP’s National Convention & Housing Policy Summit in Washington D.C. The report found that in 2021, the Hispanic homeownership rate increased to 48.4%, consistent with the trendline…

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IBM Signs 328,000 SF Anchor Lease at One Madison Ave.

March 15, 2022

NEW YORK—SL Green Realty Corp. announced on March 15 it had signed a 16-year, 328,000-square foot lease with International Business Machines Corp. at its One Madison Ave. tower building currently under construction. The lease covers portions of floors two and seven and the entire eighth through 10th floors and a portion of the ground floor…

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Westchester Marriott Sold for $40 Million New Owners Plan $30 Million in Upgrades

March 14, 2022

TARRYTOWN—One of the most recognizable hotel properties in Westchester County—the Westchester Marriott—has changed hands in a $40-million transaction. New York City-based Taconic Capital Advisors, HEI Hotels & Resorts of Norwalk, CT partnered to acquire the Westchester Marriott, a 444-key hotel in Tarrytown, from Ares Commercial Real Estate Corp. of New York City for $40 million.…

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