MOHEGAN LAKE—Ginsburg Development Companies has paid $54 million for The Landing on Mohegan Lake, a lakefront multifamily rental community featuring 207 one- and two–bedroom apartments here. GDC acquired the property from New Chalet Apartments, Inc., a private equity group based in Dallas, TX. Jeffrey R. Dunne, of CBRE’s Stamford, CT office, was the broker in…
Read MoreCHICAGO—The National Association of Realtors has announced a new internal organizational structure and changes to its senior management team to more effectively and efficiently serve its 1.3 million Realtor members. "This reorganization reflects the promise I made when I was named CEO last August to create better efficiencies in engaging with and serving the association's…
Read MoreMAMARONECK—Sean and Chris Murphy, owners of locally-based Murphy Brothers, were recently honored at the 2018 Mamaroneck Chamber of Commerce Dinner held at the Beach Point Club here. Mamaroneck Chamber President Susan Fuller of Orange Bank & Trust recognized both men and their firm for their many contributions to the local community over the years in…
Read MoreGet the Picture: If you know Robert Shandley, you know he rarely travels anywhere without a camera in his hands. Shandley, a new HGAR Director for 2018, can be seen at almost every HGAR event, snapping photos of smiling faces throughout the Hudson Valley. From the Women’s Council of Realtors breakfasts, to RPAC happy hours…
Read MoreTARRYTOWN—Both at his recent inauguration and again in a speech before the Westchester County Association earlier this week, Westchester County Executive George Latimer stressed that his administration will be one that promotes “respect and cooperation” and will solicit ideas from both sides of the aisle. An overflow crowd attended the inauguration of the 64-year-old veteran…
Read MoreWHITE PLAINS—Commercial brokers believe that the commercial office market in Westchester County is strong enough that if conditions continue over the next few years the county could see the first new commercial office development project in decades. Approximately 80 real estate professionals attended the annual Commercial Broker Roundtable program staged by the Hudson Gateway Association…
Read MoreWHITE PLAINS—2017 proved to be another positive year for residential sales in the Hudson Valley following the remarkably strong sales of 2016. Participants in the Hudson Gateway Multiple Listing Service Inc., a subsidiary of the Hudson Gateway Association of Realtors, Inc., reported total residential sales of 18,854, which was a 4% increase in sales over…
Read MoreWASHINGTON—Two members of the New York State delegation in Congress have introduced bipartisan legislation to restore the state and local tax deduction that was capped at $10,000 as part of the federal tax reform plan passed late last month. U.S. Reps. Nita Lowey (D-NY-17/Rockland-Westchester) and Peter King (R-NY-2/Nassau-Suffolk) introduced the “SALT Deductibility Act” on Jan.…
Read MoreTrustco Bank hosted a ribbon cutting and grand opening of its newest branch at 945 South Lake Blvd. in Mahopac on December 15th. The branch marked the bank’s entrance into Putnam County. Glenville, NY-based TrustCo Bank Corp. NY is a $4.9-billion savings and loan holding company and through its subsidiary, Trustco Bank, operates branch offices…
Read MoreNEW ROCHELLE—RM Friedland has been named the exclusive retail leasing agent for 587 Main St., the first phase of RXR’s master redevelopment of Downtown New Rochelle. RM Friedland is responsible for all professional services surrounding the leasing of the retail opportunities at the location, including but not limited to: in-depth market analysis, marketing of the…
Read MoreEditor’s Note: The National Association of Realtors recently posted on its website an extensive analysis of the recently passed federal Tax Reform and Jobs Act. The following are extensive excerpts of that analysis. WASHINGTON—The National Association of Realtors worked throughout the tax reform process to preserve the existing tax benefits of homeownership and real estate…
Read MoreWHITE PLAINS—2017 HGAR President Dorothy Botsoe ended her year in office the same way that she started it—offering free networking outreach events to the HGAR membership in Westchester, Putnam, Rockland and Orange counties, as well as the Bronx. Her 2017 Holiday Networking events began in November at the Mix Cocktail Bar at the Crowne Plaza…
Read MoreALBANY—Gov. Andrew Cuomo in his “State of the State” address on Wednesday here vowed that the state will file suit against the recently enacted federal tax reform law and will also study restructuring the state’s income tax revenue system. Calling the federal tax reform law an “arrow aimed at New York’s economic heart,” Gov. Andrew…
Read MoreST. LOUIS, MI—New York State ranked third behind Illinois and New Jersey in out migration, according to a study released recently by moving company United Van Lines. The United Van Lines' National Movers Study stated that more Americans are moving westward, while the Northeast and Midwest continued to lose residents. In 2017, more residents moved…
Read MoreNEW YORK CITY—New construction starts in the Bronx are expected to surpass the $2-billion plateau in 2017, according to a report released today by the New York Building Congress. While several new large public works projects came on line this year, the residential housing sector in the borough accounted for more than 50% of the…
Read MoreWASHINGTON—Recently released reports on existing home sales and pending sales in November released by the National Association of Realtors showed strong sales activity. However, NAR predicts conditions will weaken somewhat in the new year. The National Association of Realtors reported on Dec. 27 that pending home sales were mostly unmoved in November, but did squeak…
Read MoreBUFFALO, NY—Following the sudden death of its longtime chairman and CEO Robert G. Wilmers earlier this month, M&T Bank Corp. announced on Dec. 20 that René F. Jones was appointed chairman and CEO of M&T and its principal banking subsidiary, M&T Bank. He was also elected to the Board of Directors of both M&T Corp.…
Read MoreALBANY—New York State Gov. Andrew Cuomo citing the legislation’s potential costs, reached an agreement on Dec. 18 with the State Legislature to have three state agencies study the fiscal impacts of establishing the New York State First-Time Homebuyer Savings Program. The governor signed the New York First Time Homebuyer Savings Program (NY First Home) bill…
Read MoreORANGETOWN—Rockland County continues to be a hub for major data center users. Most recently, Bloomberg and fifteenfortyseven Critical Systems Realty have developed major facilities in Rockland. In October, JP Morgan Chase became the latest to announce plans for a Rockland County location. On Oct. 18th, JP Morgan Chase closed on the $7.5-million purchase of 60…
Read MorePEARL RIVER—Flushed from the record success in the annual Consolidated Funding Application competition where more than 10 critical projects in Rockland County secured state funding, REDC President and CEO Jeremy Schulman said the county’s economic development agency plans a host of targeted initiatives and programs geared at attracting new business and growing existing commerce in…
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