NANUET—Howard Hanna | Rand Realty reported on Oct. 11 it had acquired Murphy Realty Group, located at 304 Wall St. in Kingston in Ulster County. The firm’s entrance into Ulster County, NY, adds more than 40 hand-selected local agents, well-known for their experience and knowledge in the area, in an office recognized for more than…
Read MoreNEW YORK—Robert I. Toll, the co-founder of national homebuilder Toll Brothers, died on Oct. 7 at his home in New York, the company reported. Toll, the former Chairman and Chief Executive Officer, passed away surrounded by his family following a long battle with Parkinson’s disease at the age of 81. He was an iconic industry…
Read MoreALBANY—For those who were wondering if construction on a third lane on Route 17 in Orange and Sullivan counties would come sooner or later, the answer unfortunately for project advocates is later. New York Gov. Kathy Hochul confirmed today what was first reported in Real Estate In-Depth, that the study of the $1-billion Route 17…
Read MoreWHITE PLAINS—The Friedkin Property Group of San Francisco has acquired the 260-unit Windsor at The Gramercy apartment property in White Plains for $113 million. The sale transaction for the property at 2 Canfield Ave., was brokered by CBRE, which represented the seller—national real estate investment management firm GID—in the deal. CBRE also procured the buyer.…
Read MoreWHITE PLAINS—Commercial brokerage firm CBRE reports it has recently brokered the sale of 1311 Mamaroneck Ave., a more than 320,000-square-foot office property in White Plains. The property, which totals 323,431 square feet of office space, was acquired by Interra Capital Group of Houston. The property is currently 53% leased. The CBRE Institutional Properties team of…
Read MoreWHITE PLAINS—The Hudson Gateway Association of Realtors, Inc. and OneKey MLS recently hosted a virtual panel discussion where financial and real estate experts explored the impacts of rising interest rates and return-to-work orders on the New York City housing market in the fourth quarter of 2022. Panelists agreed home buyers may want to move sooner…
Read MoreYONKERS—The Yonkers Industrial Development Agency reported that it recently voted to grant preliminary and final approvals of financial incentives for new residential and commercial projects representing a total private investment of $182.2 million, The developments are projected to create more than 600 construction jobs and over 300 apartments including affordable housing for low-income seniors. “These…
Read MoreWASHINGTON—Pending home sales sagged for the third straight month in August, the National Association of Realtors reported today. Three out of four major regions experienced month-over-month decreases in transactions, however, the West saw a modest gain. Year-over-year, all four regions posted double-digit declines. The national Pending Home Sales Index (PHSI) fell 2.0% to 88.4 in…
Read MoreIn a highly informative session of The Alliance for Balanced Growth, officials with the Orange County Partnership and the Orange County Industrial Development Agency provided updates on the Orange County Partnership’s Site Inventory Program (SIP) and the IDA’s Shovel Ready Program, key initiatives geared at sustaining the impressive growth the county has achieved in spite…
Read MoreWASHINGTON—Existing-U.S. home sales experienced a slight dip in August, marking the seventh consecutive month of declines, according to a report released today by the National Association of Realtors. Month-over-month sales varied across the four major U.S. regions as two regions recorded increases, one was unchanged and the other posted a drop. On a year-over-year basis,…
Read MoreWHITE PLAINS—Richard Haggerty, who has been serving the Hudson Gateway Association of Realtors and its predecessor organizations for nearly four decades, informed the HGAR Board of Directors earlier this month that he will be leaving the organization at the end of this year to take over as Chief Executive Officer of its subsidiary organization, OneKey…
Read MoreWEST BABYLON—For August 2022, OneKey MLS reported on Sept. 20 a regional closed median sale price of $621,500, representing a 0.20% increase over the reported $620,000 in July 2022. Between July and August 2022, closed regional sales transactions, including residential, condo, and co-op sales, in the region covering Montauk to Manhattan, north through the Hudson…
Read MoreGOSHEN—Orange County is on top of the tourism market according to a new report that indicates a 63.4% growth in visitor spending in 2021. Surpassing the Hudson Valley and New York State percentage increases as a whole, visitor spending increased 49.5% throughout the Hudson Valley and 53.4% statewide. The international research firm Tourism Economics, an…
Read MoreMIDDLETOWN—Orange County Executive Steven Neuhaus has announced that the county will be holding its first-ever Economic Summit on Friday, Sept. 30th at SUNY Orange in Middletown. The theme of the 2022 Orange County Economic Summit that will run from 8:30 a.m. to 12:30 p.m. will be “Positive Growth and Infrastructure: Progress Today and Planning Tomorrow.”…
Read MoreRYE—The Legal Services of the Hudson Valley held its annual Equal Access to Justice Gala on Sept. 14 that honored New York Gov. Kathy Hochul with the Champion of Justice Award, Paul Adler, Chief Strategy Officer, Rand Commercial, and Jonathan C. Harris, General Counsel and Secretary, MBIA Inc, who each received the Access to Justice…
Read MoreALBANY—Under a legal agreement with the U.S. Environmental Protection Agency announced on Sept. 13, General Electric Co. has agreed to investigate the Lower River portion of the Hudson River PCBs Superfund site to determine next steps for addressing contamination. Under the terms of the legal administrative agreement, GE will immediately develop a plan for extensive…
Read MoreWith inflation still high, mortgage application activity fell 1.2% for the week ended Sept. 9 as compared to a week earlier, according to data from the Mortgage Bankers Association. Mortgage activity is expected to continue to be adversely impacted by economic conditions and the likelihood that the Federal Reserve will hike rates by another 0.75%…
Read MoreSLEEPY HOLLOW—The condominium project called “The Daymark” to be built at the Edge on Hudson property—the site of a former General Motors assembly plant—has secured $142 million in financing. Lionheart Strategic Management LLC, an affiliate of Fisher Brothers that manages capital on behalf of third-party investors, announced on Sept. 7 that it will provide a…
Read MoreWASHINGTON—Mortgage applications decreased 0.8% last week from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending Sept. 2, 2022, the MBA announced on Sept. 7. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances increased to 5.94% last week. The…
Read MoreWASHINGTON—The U.S. Department of Housing and Urban Development announced on Sept. 7 it had published Fair Market Rents (FMRs) for Fiscal Year 2023. FMRs, published annually, are an estimate of the amount of money that would cover gross rents (rent and utility expenses) on 40% of the rental housing units in an area. Nationally, FMRs…
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