WHITE PLAINS—The more than decade-long saga of the French-American School project in White Plains has come to an end with the sale of the 130-acre parcel to Long Island-based residential development firm The Farrell Building Company. Joseph Farrell, owner of The Farrell Building Co., which is based in Bridgehampton, NY, told Real Estate In-Depth that…
Read MoreCOVID-19’s impact on the local and national CRE market has decreased the relevance of CRE assets. Many assets simply don’t “work” in today’s post-pandemic environment. That doesn’t mean however that there isn’t a “life after death” for these locations. Indeed, they can hold much purpose, if you’re an owner or developer who’s thinking outside the…
Read MoreWHITE PLAINS—In its continuing efforts to provide employment opportunities and workforce training in support of the Westchester County economy, the Westchester County Office of Economic Development reported that Westchester Community College will be launching a new career training program for advanced manufacturing. The program, which will launch in January 2022, puts individuals with little or…
Read MoreNEWBURGH—While environmental groups and state politicians, including Gov. Kathy Hochul praised the decision in late October by the New York State Department of Environmental Conservation to deny a key air permit for the Danskammer Energy project here, key business, trade and economic development organizations have lined up in support of Danskammer’s recently filed appeal of…
Read MorePOUGHKEEPSIE—The highly anticipated final report from the New York State Department of Transportation’s Route 17 Planning and Environmental Linkage (PEL) Study group is recommending the state move forward with a General Use Third Lane in each direction on Route 17 in Orange and Sullivan counties that could if built as one major project cost anywhere…
Read MoreWHITE PLAINS—The Hudson Gateway Realtor Foundation, the charitable arm of the Hudson Gateway Association of Realtors, reported it had donated a total of $32,800 to 22 charities and non-profit organizations throughout the Hudson Valley and beyond in 2021. As it enters its ninth year of fundraising, the foundation is gearing up for another successful year…
Read MoreNEW YORK—Burnett Equities of Oklahoma City, OK has acquired the 531-room landmark Martinique New York on Broadway for $55.5 million. The deal was reported by brokerage firm Marcus & Millichap, which represented the seller, Herald Square Associates. Marcus & Millichap said that the total development cost for the revitalization of the asset, located on the…
Read MoreWASHINGTON—Existing-home sales increased in October, marking two straight months of growth, according to the National Association of Realtors. Two of the four major U.S. regions saw month-over-month sales climb, one region reported a drop and the fourth area held steady in October. On a year-over-year basis, each region witnessed sales decrease. Existing-home sales in the…
Read MoreYONKERS—City of Yonkers, Westchester County and New York State officials joined with the Municipal Housing Authority for the City of Yonkers and The Community Builders recently to celebrate the completion of 172 Warburton at The Ridgeway, a new $53.5-million mixed-income residential community in Southwest Yonkers. 172 Warburton at The Ridgeway continues the strong partnership between…
Read MoreNEW YORK—Residents who fled New York City during the early days of the pandemic, particularly the wealthiest neighborhoods, are beginning to return. New York City Comptroller Scott Stringer released a comprehensive analysis earlier this week (Nov. 15) of the pandemic’s impact on monthly migration patterns into and out of the city. Using data published by…
Read MoreYONKERS, NY— “A Sure Bet for New York’s Future” Alliance, along with state and local elected officials and community partners, held a rally on Nov. 17 outside of Empire City Casino by MGM Resorts to demonstrate strong community support for New York State to introduce a process that can quickly award downstate full-scale commercial casino…
Read MoreNEW YORK— Christie’s announced on Nov. 17 that it is selling its Christie’s International Real Estate business to Chicago-based real estate brokerage and technology firm @properties, and entering into a long-term global brand license agreement with the company. The new strategy for Christie’s International Real Estate is designed to build upon the success of the…
Read MoreTARRYTOWN—The Hudson Gateway Association of Realtors held its 105th Annual Member Appreciation Day and Annual Meeting on Monday, Oct. 25 at the Sleepy Hollow Hotel and Conference Center here that was highlighted by the acknowledgement of Realtor Anthony Domathoti of EXIT Realty Premium of the Bronx as the organization’s 2022 President. At its 105th Annual…
Read MoreCHICAGO—The National Association of Realtors announced on Nov. 15 the adoption of changes to its guidance for local Multiple Listing Service broker marketplaces that reinforce greater transparency for consumers. The changes ensure disclosure of compensation offered to buyer agents, ensure listings are not excluded from search results based on the amount of compensation offered to…
Read MoreNEW YORK—The development team led by ELH Mgmt. LLC; The Kretchmer Companies; Xenolith Partners LLC and JASA, along with HPD; HDC; and NYCHA; celebrated the groundbreaking of a new senior housing development, Casa Celina on Oct. 19. Located on NYCHA’s Justice Sonia Sotomayor campus in the Soundview neighborhood of the Bronx, the 100% affordable project,…
Read MoreNEW YORK—It’s a “tale of two markets” for Bronx rentals. Sweeping regulations, shutdowns, and economic stimulus have had little effect on slowing the upward rent trajectory for New York City apartments, which once again have the nation’s most expensive rent. Meanwhile in the Bronx, where asking rents have reached peak levels with a median ask…
Read MoreWHITE PLAINS—The March of Dimes Greater NY Market held the 34th Annual Real Estate Awards Breakfast on Nov. 4th at the Opus Westchester in White Plains. The event shattered its fundraising goal, raising more than $1 million to support the March of Dimes’ mission to improve the health of moms and babies. Two visionary commercial…
Read MoreNEW YORK—The Hudson Gateway Association of Realtors, for the second year in a row, has been honored with the Gold Global Achievement Award from the National Association of Realtors. This award acknowledges that HGAR’s Global Business Council has demonstrated a solid level of service to its global members throughout 2021. The HGAR Global Business Council…
Read MoreThe mere mention of Arthur Avenue in the Bronx can often conjure up images of piping hot pasta with home-made tomato sauce, fresh colorful produce, crispy warm breads or rows of cannoli’s, stuffed with gooey cream and chocolate chips. Now part of the Belmont Business Improvement District (BID), this world-famous culinary destination has been home…
Read MoreNEW YORK—Vector Group Ltd. announced on Nov. 8 that residential brokerage firm Douglas Elliman Inc. plans to file a Form 10 registration statement with the United States Securities and Exchange Commission in connection with its intended spin-off into a standalone, publicly traded company. The planned spinoff and IPO could take place as early as the…
Read More