NEW YORK—The ownership at 12 specialty retail properties in the New York metro area totaling more than 2 million square feet of retail space will be changing by year’s-end. Forest City Realty Trust has signed an agreement to sell its 51% stake in 12 specialty retail properties in the New York City area to partner…
Read MoreWASHINGTON—Despite being in the prime years to buy their first home, an overwhelming majority of millennials with student debt currently do not own a home and believe this debt is to blame for what they typically expect to be a seven-year delay from buying, according to a recently released study on student loan debt and…
Read MorePLEASANTVILLE—ERA Insite Realty Services, with offices in White Plains, Bronxville and Mount Pleasant, announced a merger deal on Sept. 18th with Century 21 Haviland in Pleasantville. The merger was announced by Louis and Debra Budetti, founders and owners of ERA Insite Realty Services, which is headquartered in White Plains. The merger comes on the heels…
Read MorePEEKSKILL—Ginsburg Development Companies Principal Martin Ginsburg joined with Peekskill Mayor Frank Catalina and other state, county and city officials and dignitaries on September 14 for a groundbreaking ceremony to mark the start of construction of Gateway Townhomes here. Located at 700 Main St., at the gateway to the city from Route 9, Gateway Townhomes will…
Read MoreWASHINGTON—Tax reform done right could yield savings and simplification that benefits average Americans, but history shows that misguided reforms can pose significant threats to the economy. That’s the message the National Association of Realtors brought to Congress on Sept. 14th as Iona Harrison, chair of NAR’s Federal Taxation Committee, testified before the Senate Finance Committee.…
Read MoreGOSHEN, NY—The $500-million LEGOLAND New York project proposed by Merlin Entertainments secured key approvals by a 4-1 vote of the Goshen Town Board on Thursday evening that put the development ever closer to breaking ground. The Town Board approved amendments to the town’s comprehensive plan and zoning law as well as the adoption of Local…
Read MoreGOSHEN—For years, many considered Orange County to be chiefly a retail and warehouse and distribution market in the Hudson Valley. Today, that misinformed characterization can be easily dispelled by the diverse industry mix of firms that are located here and by those seeking to locate operations in Orange County. At press time, two major economic…
Read MoreBRIDGEPORT, CT —Ginsburg Development Companies of Hawthorne, NY recently unveiled a new lobby and announced new building amenities for its City Trust Tower Apartments property located at 955 Main St. in Downtown Bridgeport, CT. In addition to the new art deco-inspired lobby, the 12-story 117-unit rental apartment building, located across from McLevy Green, will soon…
Read MoreSince winning the County Executive post in the November 2013 election, former Chester Supervisor Steve Neuhaus has tackled a host of difficult issues that initially included closing significant budget gaps, stabilizing county government finances and shepherding the redevelopment of the Orange County Government Center in Goshen. Orange County Executive Neuhaus, who is running for re-election…
Read MoreWASHINGTON— 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…
Read MorePOCANTICO 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…
Read MoreGOSHEN—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…
Read MoreMINNEAPOLIS—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…
Read MoreNEW 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…
Read MoreAs 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…
Read MoreEASTCHESTER—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…
Read MoreWASHINGTON—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…
Read MoreGOSHEN—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…
Read MoreA 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…
Read MoreNEW 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…
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