TARRYTOWN—The project that many thought would never be built is reaching a key milestone later this month. At a breakfast meeting of the Association for a Better New York in Manhattan on July 27th, Gov. Andrew Cuomo announced the first of two spans of what is now being called the new Governor Mario M. Cuomo…
Read MoreNEW YORK—Residential real estate brokerage firm Douglas Elliman announced on Aug. 1 that it entered into a contract of sale to acquire Los Angeles-based Teles Properties. Upon closing, the operations of Teles will be under the umbrella of Douglas Elliman, making Elliman the second largest non-franchise brokerage firm in the State of California. Teles partners…
Read MoreNEW YORK—The impending closure of the Indian Point nuclear power plants in Buchanan and other market forces could pose significant risks to the future energy supply of New York City and the Lower Hudson Valley, a recently released report warns. The New York Building Congress released a report earlier this week entitled “Electricity Outlook: Powering…
Read MoreHARRISON—Commercial brokerage firm RM Friedland reports that in the second quarter it closed deals valued at more than $15.1 million totaling 104,806 square feet of space in its market area in Westchester County and the Bronx. The firm reported that its second quarter activity totals included four sales with an aggregate value of more than…
Read MoreGOSHEN—The controversial $500-million LEGOLAND New York project secured a key approval on July 20th of its Final Environmental Impact Statement, a significant hurdle in its bid to win municipal approvals for the project so it can move forward later this year with construction of the theme park. Approximately 200 people packed the Orange County Emergency…
Read MoreGOSHEN—Could the acrimony and litigation between the Town and Village of Monroe and the orthodox Hasidic Jewish community of Kiryas Joel be coming to an end? A proposal is working its way through the Orange County Legislature that could bring a controversial proposal to legally separate what is now the Village of Kiryas Joel from…
Read MoreWHITE PLAINS—A seven-year battle between Westchester County and the U.S. Department of Housing and Urban Development over terms of a controversial fair housing settlement appears to be finally winding down. On July 19th, Westchester County Executive Robert Astorino announced that HUD had accepted the county’s 11th submission of an Analysis of Impediments to Fair Housing…
Read MoreMAMARONECK—The first major residential rental development in the Village of Mamaroneck in 20 years broke ground recently. Village and county officials joined developer Halpern Real Estate Ventures and its partner, The Rosen Development Group, at a groundbreaking ceremony on June 15th for a loft-style development featuring luxury rental apartments and townhouses on a downtown site…
Read MoreSTAMFORD, CT—Reversing a troubling trend of high profile companies announcing headquarters moves outside of the state, the State of Connecticut got some welcome news recently that a growing technology company has decided to grow its headquarters operations in the Nutmeg State. Connecticut, which has seen high profile companies like GE and Aetna announce plans to…
Read MoreBEACON—Another shuttered correctional facility in the Hudson Valley is being marketed for alternative uses. The Empire State Development Corp. announced on July 7th it had issued a Request for Expressions of Interest to developers and investors to formulate plans for the reuse and redevelopment of the shuttered Beacon Correctional Facility in Dutchess County. A former…
Read MoreIt is well known that Article 3 of the Realtor Code of Ethics deals with cooperation, surely an underpinning of an ethical real estate practice and a fluid marketplace. However, not all may be familiar with the nuances that are part and parcel of this rule of ethics. Article 3 closely resembles fiduciary law in…
Read MoreWASHINGTON—The Consumer Financial Protection Bureau finalized updates to its “Know Before You Owe” mortgage disclosure rule with amendments released on July 7th that the bureau stated are intended to formalize guidance in the rule, and provide greater clarity and certainty. The changes will facilitate implementation of the Know Before You Owe rule by the mortgage…
Read MoreWHITE PLAINS—The constricting supply of housing in the lower Hudson region served by the Hudson Gateway Multiple Listing Service, Inc. has brought about some long-expected price increases in most areas and in most property types, according to the “2017 Second Quarter Residential Real Estate Sales Report for Westchester, Putnam, Rockland and Orange Counties, New York”…
Read MoreNEWBURGH—U.S. Rep. Sean Patrick Maloney (NY-18) joined local leaders on July 6th in front of one of the abandoned properties in the City of Newburgh to announce legislation to help homeless veterans and renovate "zombie" or abandoned properties. The “Housing Our Heroes Act” would create a pilot program within the Department of Veterans Affairs, which…
Read MoreUnder the terms of the Americans with Disabilities Act (ADA), attorneys may collect fees related to pursuing claims of non-compliance of the law but plaintiffs are not permitted to collect damages. Lawsuits often target easily correctible infractions such as signage, soap dispenser heights and transition lifts on ramps. Owners of these properties often have a…
Read MoreNEW YORK CITY—While the Hudson Valley and many residential markets across the nation are feeling the impacts of low for-sale inventory, the Manhattan residential real estate market is “surprisingly robust” thanks in part to plenty of supply and a wealth of prospective buyers. Statistics in the latest released residential sales report by Douglas Elliman clearly…
Read MoreWHITE PLAINS—After negotiating a deal that mandates creating a voluntary fingerprint program for drivers, Westchester County allowed ride-sharing services such as Lyft and Uber to launch operations there. Gov. Cuomo signed legislation that allowed Lyft and Uber and other ride sharing services to begin upstate and on Long Island on June 29th. The legislation did…
Read MoreRYE BROOK—Residential real estate brokerage firm Houlihan Lawrence has announced several key executive level appointments and hires, including Anne Marie Gianutsos’ promotion to chief marketing officer and the hiring of Nicholas Fears, formerly of Coldwell Banker, New Jersey, as chief financial officer. “By expanding our C-Suite, Houlihan Lawrence continues to uphold its reputation as an…
Read MoreNEW YORK—Federal, state and county officials praised the recent U.S. Coast Guard’s decision to suspend a proposed new rule expanding anchorages on the Hudson River. On Wednesday (June 28th) U.S. Coast Guard Rear Adm. Steven Poulin, Commander of the First Coast Guard District, reported that after reviewing more than 10,200 comments from stakeholders, the Coast…
Read MoreDOVER, NY—A massive energy project, which began its approval process nearly eight years ago, finally broke ground on Wednesday, June 28th on a 193-acre parcel of land on Route 22 here. Described as one of Dutchess County’s largest infrastructure projects in its history, Cricket Valley Energy, an affiliate of Advanced Power Services Inc. of Boston,…
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