News

Rockland County Firm Pays $136 Million for Long Island Apartment Portfolio

November 4, 2021

SUFFERN—Locally-based Castle Lanterra Properties has acquired two Class A communities totaling 316-units in West Hempstead and Hempstead, NY for $136 million. The transaction was reported by JLL Capital Markets on Nov. 3. JLL marketed the properties on behalf of the seller. Castle Lanterra Properties, which is headquartered in Suffern, acquired the assets. The portfolio consists…

Read More

$48 Million Supportive Housing Development in Bronx Completed

November 4, 2021

NEW YORK—New York Gov. Kathy Hochul announced on Nov. 3 the completion of a $47.9-million supportive and affordable housing complex in the Claremont Village section of the Bronx that will serve individuals experiencing chronic homelessness, including those with a serious mental illness, veterans with disabilities, and the elderly. Supported with $6.5 million through the Homeless…

Read More

$95-Million Renewal of White Plains Metro-North Station Completed

November 2, 2021

WHITE PLAINS—A host of Metro North, as well as state and city officials were on hand for a ceremony on Nov. 1 to mark the completion of the full-scale $95 million renewal of MTA Metro-North Railroad's station in Downtown White Plains. The renovation began in 2018 as part of Metro-North's Station Improvement Initiative to bring…

Read More

HGAR Hires Education Veteran Malone As Director of Professional Development

November 2, 2021

WHITE PLAINS—The Hudson Gateway Association of Realtors reported recently that Michael Malone of Mahwah, NJ has been hired as the association’s new Director of Professional Development. Malone will be responsible for overseeing the Hudson Gateway School of Real Estate and its course offerings and events. Malone brings 30 years of experience in education and working…

Read More

Wall Street Earnings Soar Despite Pandemic

October 28, 2021

ALBANY—Wall Street’s run of prosperity extended into the first half of 2021 with $31 billion in pre-tax earnings, beating 2020’s outsized first half profits of $27.6 billion, even as job losses accelerated in New York City’s securities industry, according to State Comptroller Thomas P. DiNapoli’s annual report on Wall St.’s performance released recently. “Wall Street’s…

Read More

‘The Stella’ Luxury Tower in New Rochelle Nears Completion

October 28, 2021

NEW ROCHELLE—Construction is nearing completion on a major mixed-use project in Downtown New Rochelle—“The Stella.” The first residents of the 27-story tower are expected to take occupancy in January 2022. The $190-million project, which is being developed by L&M Development Partners and Wilder Balter Partners, Inc., is comprised of 380 studio, one-, and two--bedroom apartments.…

Read More

Trammel Crow Residential, Marcus Partners to Develop New Multifamily Project in Harrison

October 28, 2021

HARRISON—Crow Holdings, a Dallas-based national real estate investment and development firm, reports that its multifamily development company, Trammell Crow Residential, has partnered with Marcus Partners of Boston to develop Alexan Harrison, a 450-unit luxury multifamily residence in Harrison. The project under the firm’s Alexan brand marks Crow Holdings’ and Marcus Partners’ first New York State…

Read More

U.S. Existing-Home Sales Increased 7.0% in September; Northeast Sales Grew 5.5%

October 22, 2021

WASHINGTON—Existing-home sales rebounded in September after seeing sales wane the previous month, according to the National Association of Realtors. Each of the four major U.S. regions witnessed increases on a month-over-month basis. From a year-over-year timeframe, one region held steady while the three others each reported a decline in sales. Total existing-home sales, completed transactions…

Read More

Five Questions With: Joseph Apicella, Managing Director of Development, MacQuesten Development, LLC

October 21, 2021

PELHAM—With the COVID pandemic hopefully winding down, the Westchester County real estate markets are at a crossroads with some sectors booming and others struggling to adapt to changing consumer and tenant needs. What better person to talk to about these turbulent times than Joseph Apicella, the longtime right-hand man to high-profile Westchester developer Louis Cappelli…

Read More

E-Commerce, Biotech, Healthcare, Cannabis Will ‘Reimagine Westchester’

October 21, 2021

A panel of experts charged with identifying the industries that will reimagine Westchesteridentified a host of emerging sectors, including e-commerce, cannabis legalization, adaptive reuse, as well as the biosciences and health care as the catalysts for economic growth in the coming years in Westchester County. One industry expert predicts that Tarrytown-based Regeneron Pharmaceuticals will lead…

Read More

HGAR Region Posts Continued Strong Home Sales in Third Quarter

October 21, 2021

WHITE PLAINS—It may seem like a broken record, but once again home sales in the Hudson Gateway Association of Realtors market area continued to be strong in the third quarter, with most counties posting impressive sales gains over last year. Analysts indicate that both nationally and locally, that tune will likely be playing well into…

Read More

NYS Gaming Commission Issues RFI for Downstate Casinos

October 21, 2021

ALBANY—While there is still a long way to go before any official award, the New York State Gaming Commission has issued a Request for Information from interested parties for either developing or operating three downstate New York casinos in the New York metro region. While this is good news for downstate casino advocates, the RFI…

Read More

Westchester Economic Development Preps For Second Year of ‘Launch 1000’ Program

October 18, 2021

WHITE PLAINS—Following the huge success of its new “Launch 1000” Program this year, Westchester County’s Office of Economic Development is gearing up for its second performance in 2022. The new entrepreneurship program graduated its first class of 59 new entrepreneurs at the end of September, with 50 of them already generating revenue. Deborah Novick, the…

Read More

County Exec. Latimer Proposes $476M Capital Budget Plan for 2022

October 18, 2021

WHITE PLAINS—Westchester County Executive George Latimer unveiled a $476-million capital budget plan on Oct.14 that includes $50 million for the funding of affordable housing projects in Westchester County. The proposal, now before the Westchester County Board of Legislators, also includes funding for roads, bridges, wastewater treatment plants and county parks. Among the more notable items…

Read More

Landlords, Tenants Eligible for Emergency Rental Assistance Funding

October 18, 2021

WHITE PLAINS—Emergency financial relief is flowing to county residents who applied for the New York State Emergency Rental Assistance Program (ERAP), which covers rent and utility arrears to Westchester households at risk of eviction due to the COVID-19 pandemic. More than $16 million has been issued directly to landlords and utility companies on behalf of…

Read More

Westchester County Issues RFP for Construction Pre-Apprenticeship Program; Holds Industry Job Fairs

October 18, 2021

WHITE PLAINS—As part of its new local workforce policy, the County of Westchester Industrial Development Agency has issued a Request for Proposal for the launch of a pre-apprenticeship program to help create construction careers for county residents and fill positions on IDA-induced development projects. The county, as part of its workforce development initiatives, also recently…

Read More

Toll Brothers Floats Townhouse Development in Yorktown

October 18, 2021

YORKTOWN—Home builder Toll Brothers is proposing to build a 136-unit, age-restricted townhouse development at the Field Home property in Yorktown. Toll Brothers’ officials made a preliminary presentation to the Town Board on Oct. 12 about its vision for the 50-acre property off Catherine Street that is under contract for purchase. Toll Brothers’ renderings depicted three-…

Read More