NEW YORK— RXR Realty broke ground on Oct. 13 on its inaugural South Bronx development, a future residential building located at 2413 Third Ave. RXR Realty is the designated developer for the City of New Rochelle’s downtown revitalization and has developed multifamily projects in Yonkers and throughout the New York metro region. Situated next to…
Read MoreNEW YORK—The COVID-19 pandemic wiped out years of growth in New York City’s office sector, erasing nearly $28.6 billion in market value and more than $850 million in property taxes in City Fiscal Year (FY) 2022. Timing its recovery is an open question, however, as employers continue to offer work-from-home options, according to a report…
Read MoreORANGEBURG—Dallas-based DataBank reported recently it had acquired 34 acres of land in Orangeburg and will build its fifth data center in the New York metro area. By purchasing the property, which includes a utility-owned substation capable of providing up to 45 MW of utility power, DataBank states the project will further its strategy of owning…
Read MoreRYE BROOK—Driven by historically low inventory levels and persistent buyer demand, 2021 is proving to be an extremely strong year for single-family home sales in Westchester, Putnam and Dutchess counties alike, according to the recently released “Houlihan Lawrence Westchester Putnam & Dutchess Q3 Market Report.” In Westchester County, sales have increased 28% this year and…
Read MoreCOOPERSTOWN, NY—Bridget Gibbons, Emily Marcus, and Zoë Nelson were elected to serve their first two-year terms on the New York State Economic Development Council (NYSEDC) Board of Directors at its 2021 annual meeting held in Cooperstown this week. Additionally, nine board members were re-elected to the NYSEDC board. Gibbons is the Westchester County Director of…
Read MoreNEW YORK—Mitsui Fudosan America and Newmark announced on Oct. 6 three recently completed leasing transactions totaling more than 230,000 square feet at 1251 Ave. of the Americas bringing the 54-story office tower to 99% leased. The building has maintained strong leasing momentum despite pandemic-induced tenant uncertainty that has stalled leasing activity in other parts of…
Read MoreNEW YORK—Non-profit multifamily housing finance company The Community Preservation Corporation released a new paper on Oct. 5 outlining a critical path it says needs to move forward for saving the New York City Housing Authority. The white paper entitled “Ending the NYCHA Blame Game: A Multi-Pronged Solution to Fix Decades of Disinvestment” explains the realities…
Read MoreNEW YORK—A subsidiary of Realogy, parent of Coldwell Banker Real Estate, LLC, has acquired New York City brokerage firm Warburg Realty, which began operations in New York City 125 years ago. The storied New York City based brokerage will operate as Coldwell Banker Warburg and will be fully rebranded in January 2022, following filings with…
Read MoreHoward W. Hanna, Jr., who co-founded Howard Hanna Real Estate Services in Pittsburgh, PA in 1957, passed away at the age of 101 on Sept. 25. After serving as an American Liaison Officer with the British Army in India in World War II, Hanna, and his wife Anne Freyvogel Hanna, began the real estate company…
Read MoreNEW YORK—The Metropolitan Transportation Authority announced on Sept. 27 that the environmental review process for the Metro-North Penn Station Access Project is complete. The milestone makes four new stations in the Bronx as well as direct Metro-North service to Penn Station from the Bronx, Westchester, and Connecticut a step closer to reality. On Sept. 24,…
Read MoreNEW YORK—The New York City Housing Authority and the New York City Department of Housing Preservation and Development reported on Sept. 28 they had finalized a $60-million deal that will bring 101 new affordable apartments to the Mott Haven neighborhood of the Bronx. Construction on the 101-unit Betances Family Apartments building at a site of…
Read MoreWHITE PLAINS—A man who for more than three decades was a driving force behind the growth and growing respect of the Westchester County Board of Realtors has died. P. Gilbert Mercurio, who led the Westchester County Board of Realtors and its successor organization the Westchester Putnam Association of Realtors for 31 years as its chief…
Read MoreYONKERS—New York Gov. Kathy Hochul announced on Sept. 23 the completion of the Dayspring Campus, a $43-million development with 63 affordable and supportive apartments and a newly renovated community center in Southwest Yonkers. Financed with more than $20.6 million in assistance from state Homes and Community Renewal, the development includes 37 apartments reserved for homeless…
Read MoreMONTGOMERY—The New York International Air Show returned to Orange County this year despite the COVID-19 pandemic. The highly popular event was held at the Orange County Airport in Montgomery during the weekend of Aug. 28-29. In 2020 the event was also held to limited crowds at Orange County Airport after previously being staged at the…
Read MoreMIDDLETOWN—If any attendees at the Sept. 21 Investor Breakfast of the Orange County Partnership were questioning the strength of the county’s economy, any misgivings were wiped away by the breadth of the positive data and forecasts offered by economic development, government and business experts at the event. Orange County Partnership President and CEO Maureen Halahan…
Read MoreWHITE PLAINS—Berkeley College has put two White Plains buildings that formerly served as its Westchester campus on the market for sale. The availability of the properties at 99 Church St. and 6 Cottage Place in Downtown White Plains was announced by commercial brokerage firm RM Friedland, which is marketing the campus. Berkeley College, a provider…
Read MoreHudson Gateway Association of Realtors®, Inc. (HGAR) has announced the availability of financial assistance to local residents impacted by flooding from Hurricane Ida. Hudson Valley residents can apply for disaster relief assistance through the Realtors® Relief Foundation (RRF), a charitable organization created by the National Association of Realtors® to provide housing-related assistance to victims of…
Read MoreHave you ever had that uncanny sensation where you’re experiencing something that you had said or done before? As I began to write this article, I was about two paragraphs in, and suddenly felt that strange feeling of déjà vu. I was reading my words and hearing something in my mind that was just so…
Read MoreNEW YORK—The Global Real Estate Summit NYC will take place Thursday, Sept. 30 and will bring together real estate’s most influential thought leaders to share best practices for tackling challenges and seizing opportunities in the global marketplace. The global summit, now in its 15th year, will feature both in-person and virtual options, from 9 a.m.…
Read MoreNEW YORK—After an unprecedented year of shutdowns, New York City is open for business and Manhattan’s residential real estate market is showing renewed signs of strength. That momentum is only expected to increase as the cultural and entertainment revival continues and new developments lure buyers back to the city, according to a panel of real…
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