News

Broker Confidence Surveys Paint Clear Picture of Difficult Market Headwinds

May 23, 2023

WASHINGTON—The National Association of Realtors recently released its Confidence Index Survey for the month of April, which showed continued broker sentiment that market conditions have and will continue to remain the same with listings low and contract activity staying competitive. The NAR report indicated that the time on market has declined from 29 days in…

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Hudson Gateway Realtor Foundation Honored By Manhattan-Based VISIONS Services Agency

May 22, 2023

NEW YORK—The Hudson Gateway Realtor Foundation, the charitable arm of the Hudson Gateway Association of Realtors, was honored recently by VISIONS/Services for the Blind & Visually Impaired at the not-for-profit’s Annual Awards event held at the Pelham Bay/Split Rock Golf Course in the Bronx. Gail Fattizzi, President of the HG Realtor Foundation, accepted the award…

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Urstadt Biddle Properties to be Acquired for $1.4 Billion

May 19, 2023

GREENWICH, CT—Regency Centers Corp. of Jacksonville, FL and Urstadt Biddle Properties Inc., which is headquartered in Greenwich, CT, announced on May 18 that they had entered into a definitive merger agreement by which Regency will acquire Urstadt Biddle in an all-stock transaction, valued at approximately $1.4 billion, including the assumption of debt and preferred stock.…

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U.S. Existing-Home Sales Faded 3.4% in April

May 19, 2023

WASHINGTON—Existing-home sales decreased more than 3% in April, according to the National Association of Realtors. All four major U.S. regions registered month-over-month and year-over-year sales declines. Home sales in the Northeast fell less than 2% last month, according to the NAR report. Total existing-home sales slid 3.4% from March to a seasonally adjusted annual rate…

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NY State Launches $150-Million Momentum Fund for Housing and Infrastructure Projects in Mid-Hudson Region

May 18, 2023

ALBANY—New York Gov. Kathy Hochul announced on May 17 the opening of the $150-million Mid-Hudson Momentum Fund grant application process for mixed-use housing and infrastructure projects throughout the Mid-Hudson Region. The initiative will help communities meet growing infrastructure needs in light of the recent, region-wide population increase brought on by the pandemic, state officials said.…

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J. Philip Real Estate Joins Howard Hanna | Rand Realty

May 18, 2023

NANUET—Howard Hanna | Rand Realty announced on May 17 that J. Philip Faranda and the agents of J. Philip Real Estate located at offices in Briarcliff Manor and Carmel have joined the brokerage firm. The deal significantly expands the footprint of Howard Hanna | Rand Realty with two new offices in New York State, located…

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Nuveen Acquires 10,000 Apartments in NYC, Long Island, Newark, NJ

May 10, 2023

NEW YORK—Locally-based Nuveen, the $1.1-trillion asset manager of TIAA, reported on May 9 it is acquiring a portfolio of multifamily assets from Omni Holding Company totaling approximately 12,000 units. A majority of the acquired assets, more than 10,000 units, are located in the Bronx, Brooklyn, Queens, Manhattan, Long Island and Newark, NJ. No financial terms…

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Nearly Seven in 10 Metro Areas Posted Home Price Gains in First Quarter of 2023

May 9, 2023

WASHINGTON —Nearly seven out of 10 metro markets registered home price gains in the first quarter as 30-year fixed mortgage rates fluctuated between 6.1% and 6.7%, according to the National Association of Realtors latest quarterly report released on May 9. Seven percent of the 221 tracked metro areas registered double-digit price increases over the same…

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COVID-19 Cost Hudson Valley Nearly 5,000 People to Migration

May 9, 2023

NEWBURGH—Non-profit research firm Hudson Valley Pattern for Progress released a report on May 3 that chronicled the Hudson Valley’s population loss during the height of the COVID-19 pandemic in 2019 and 2020. The region lost 4,845 people due to migration to locations outside of the Hudson Valley. The Pattern for Progress report points out, however,…

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Greystar, Cappelli Celebrate ‘Topping Out’ Of 25 North Lex in Downtown White Plains

May 3, 2023

WHITE PLAINS—Executives with Greystar Real Estate Partners LLC and the Cappelli Organization joined officials from Westchester County and the City of White Plains on April 18 to celebrate the “topping out” milestone in the construction of the mixed-use 25 North Lex development in Downtown White Plains. Officials and several hundred construction workers cheered as the…

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NAR: Majority of Agents, Brokers Find Value in Promoting Energy Efficiency in Listings

May 3, 2023

WASHINGTON—A majority (63%) of agents and brokers said promoting energy efficiency in listings is very or somewhat valuable, according to a new report from the National Association of Realtors—The 2023 Realtors and Sustainability Report. “While each area of the country has a unique climate and community resources, Realtors are finding the need to embrace their…

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Real Estate Veteran Garry Klein Named Director of Houlihan Lawrence’s Commercial Division

May 1, 2023

RYE BROOK—Houlihan Lawrence has reported the appointment of Garry Klein as Director of the company’s Commercial Division. Klein previously served as Regional Manager and Associate Broker responsible for recruiting, training and managing the Westchester division of the company. In his previous role, Klein represented owners, buyers and tenant clients in the evaluation, sales, purchase and…

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U.S. Pending Home Sales Decreased 5.2% in March

April 28, 2023

WASHINGTON—Pending home sales decreased in March for the first time since November 2022, the National Association of Realtors reported yesterday (April 27). Three U.S. regions posted monthly losses, while the South increased. All four regions saw year-over-year declines in transactions. Home sales in the Northeast fell more than 8%. The Pending Home Sales Index—a forward-looking…

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City Of Yonkers Dedicates Martin Ginsburg Park

April 26, 2023

YONKERS—Yonkers Mayor Mike Spano joined Ginsburg Development Companies and city officials on April 21 to celebrate the dedication of the Martin Ginsburg Park in the Greystone neighborhood that links Warburton Avenue to the Old Croton Aqueduct State Trail. The new park, which is named after the GDC Founder and Principal Martin Ginsburg, features a stairway…

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