News – Real Estate In-Depth

News

NAR: Despite Pricing Plateau, Commercial Real Estate Outlook Remains Bright

September 13, 2017

WASHINGTON— Commercial real estate price growth in large markets is expected to flatten over the next year, but strong leasing demand and investor appetite in smaller markets should keep the sector on solid ground, according to the latest National Association of Realtors quarterly commercial real estate forecast (available at https://www.nar.realtor/reports/commercial-real-estate-outlook). Backed by the ongoing stretch…

David Rockefeller Estate on Market for $22 Million

September 13, 2017

POCANTICO HILLS—The lavish Hudson Pines estate of billionaire philanthropist and banker David Rockefeller is on the market for sale for $22 million. The former chairman and CEO of Chase Manhattan Bank passed away at the age of 101 in March of this year. Since his passing, Rockefeller’s estate began to sell off his various real…

Orange County Legislature Approves Town of Palm Tree Referendum Vote

September 12, 2017

GOSHEN—After hearing impassioned testimony on both sides of the issue, the Orange County Legislature on Sept. 7th overwhelmingly approved a resolution by an 18-3 margin to allow a petition calling for the separation of the orthodox Jewish Village of Kiryas Joel from the Town of Monroe to go to a referendum vote this November. If…

HomeServices of America Acquires Long & Foster

September 12, 2017

MINNEAPOLIS—HomeServices of America, Inc., a Berkshire Hathaway affiliate, reported on Sept. 6th it acquired The Long & Foster Companies, Inc., the largest private residential real estate company in the United States by sales volume. The acquisition includes Long & Foster’s family of companies, including Long & Foster Real Estate and its market-leading affiliated business lines…

Stewart Airport Finally Goes International

September 12, 2017

NEW WINDSOR—The long-held belief by many government officials and business leaders that Stewart Airport could finally be a key driver of economic growth for Orange County and the entire Hudson Valley region may finally be coming to pass. Spirits soared in February when it was announced that Norwegian Airlines would offer low-cost transatlantic flights from…

Residential Buyer Demand Remains High in Orange County

September 12, 2017

As September begins and we look back at the summer of 2017, I do hope that all of you had a wonderful summer filled with good times. It was definitely a summer that generated significant real estate activity. The theme that started last year continued into this year where the market featured a significantly lower…

Berkshire Hathaway Westchester Properties Sponsors Second Annual Comedy Event to Benefit Sunshine Kids

September 11, 2017

EASTCHESTER—Berkshire Hathaway HomeServices Westchester Properties will present its second annual “Comedy for a Cause” on October 12th at Mulino’s at Lake Isle Country Club in Eastchester. Doors open at 6 p.m. All proceeds will benefit The Sunshine Kids Foundation, an organization dedicated to helping kids with cancer. In a statement, Mark Nadler, office leader of…

President Trump Signs Extension Of National Flood Insurance Program

September 11, 2017

WASHINGTON—With the State of Texas reeling from the extensive damage of Hurricane Harvey and the State of Florida and other southern states assessing the havoc caused by Hurricane Irma, Congress recently passed legislation that will provide some assistance to the millions of people impacted by these devastating storms. On Thursday, September 7, the U.S. Senate…

HGAR’s CID Tackles the Future of Route 17

September 7, 2017

GOSHEN—The Commercial Investment Division of the Hudson Gateway Association of Realtors hosted an informative and at times provocative roundtable discussion on growth along the Route 17 corridor and how the current two-lane (both east and west) arterial can handle future growth. With the March opening of the more than $1-billion Resorts World Catskills Casino and…

SPOTLIGHT ON: John Olivero

September 6, 2017

A Burning Passion for Real Estate John Olivero really loves Goshen. Some 27 years ago, the former Staten Island firefighter got in his car and started driving north in search of an affordable home in a nice, quiet community. He got off at the Goshen exit and has been there ever since! Today, the broker/owner…

Regional Plan Assoc. Says Billions Needed To Improve Trans-Hudson Commutation

September 6, 2017

NEW YORK—While President Donald Trump and New York Gov. Andrew Cuomo have each professed the need for the federal and state governments, and the private sector to invest more in infrastructure, a proposal released by the Regional Plan Association to fix the New York City transit system may test the mettle of both men. The…

HGAR Echoes NAR’s Call for Donations To Relief Fund for Hurricane Victims

September 6, 2017

WHITE PLAINS—The Hudson Gateway Association of Realtors is joining the National Association of Realtors, calling on members nationwide to donate funds to the Realtor Relief Foundation to support Hurricane Harvey victims. The RRF, whose goal is to help families who have endured catastrophic loss, will use the money for mortgage and rental assistance. NAR President…

Hudson Gateway REALTOR® Foundation Presents $6,000 in Donation Checks to Local Charities

August 30, 2017

The Hudson Gateway REALTOR® Foundation, the charitable arm of the Hudson Gateway Association of REALTORS®, recently presented $6,000 in donations to four Hudson Valley non-profit organizations. Additional donations are planned for distribution this fall to several other charities throughout the Hudson Valley. Support Connection, Inc. of Yorktown Heights received a $2,000 donation for its work…

Annual Members Day to Feature Mel Robbins of CNN as Keynote Speaker

August 30, 2017

TARRYTOWN - Just one day before Halloween, some 1,000 Realtors are expected to converge on the DoubleTree Hotel in Tarrytown for HGAR’s 101st Annual Member Appreciation Day. The Monday, October 30 day-long event will feature Mel Robbins of CNN as the keynote speaker. This free event, open to all HGAR members, will be drawing Realtors…

Marriott Int. Awards Hotel Franchise At $500M Project in Dutchess County

August 28, 2017

HYDE PARK—Marriott International has awarded a joint venture of Bellefield Development Partners and the Shaner Hotel Group a franchise for a 133-room Residence Inn to be built at the mixed-use Bellefield at Historic Hyde Park project here. The Hotel at Bellfield will be the first project to be constructed at the $500-million proposed Bellefield at…

Orange Bank & Trust Company Opens Full Service Branch in Mount Vernon

August 28, 2017

MIDDLETOWN — The Board of Directors and CEO Michael Gilfeather of Orange Bank & Trust Company announced on Aug. 24th that the bank had opened its fourth full service branch in Westchester County. The branch is located at 510 South Columbus Ave. in Mount Vernon. This new branch supports the bank’s strategic plan to expand…

NAR Describes Inventory Levels as ‘Pitiful’

August 25, 2017

WASHINGTON—The National Association of Realtors released two telling reports this month that detailed the anemic levels of home sale inventory, describing supply conditions as “pitiful” and inventory shortages in some markets as “severe.” In a report released on second quarter home sale prices, NAR stated the headstrong supply and demand imbalances in much of the…

Rep. Maloney Introduces Bill to Help First-Time Buyers

August 25, 2017

MIDDLETOWN—U.S. Rep. Sean Patrick Maloney (D-NY-18) held a press conference at the home of recent first-time homebuyers Taylor and Justin Van Dyke on Aug. 23rd to announce he intends to re-introduce bipartisan legislation to assist first-time homebuyers save for their down payment and pay for closing costs on their initial home purchase. Rep. Maloney ‘s…

Woodbury Common Owner Settles AG Case Loudly

August 25, 2017

CENTRAL VALLEY—The owner of the highly popular Woodbury Common Premium Outlets here may have spent nearly $1 million recently to settle charges of engaging in anti competitive behavior, but it did not do so quietly. Simon Property Group after settling litigation with the New York State Attorney General over alleged anticompetitive tactics it employed in…

Governor Presides Over Opening of Western Span of Mario Cuomo Bridge

August 24, 2017

TARRYTOWN—More than 800 business, organized labor and political leaders gathered to commemorate a major milestone in the construction of the $3.9-billion Governor Mario M. Cuomo Bridge on Aug. 24— the opening of the western span of the new structure that will next year replace the Tappan Zee Bridge. Gov. Andrew Cuomo said at the ceremony…