News

Realtors Predict Higher Rates Will Lead to Slower Sales, Not Collapse

April 21, 2022

WHITE PLAINS—Realtors believe that the lower home sales numbers registered in the first quarter of this year were due primarily to record low inventory and not any sharp decline in buying demand. In fact, brokers interviewed by Real Estate In-Depth agree that current economic headwinds in the form of high inflation, rising mortgage interest rates…

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Five Questions with Epoch Senior Living CEO Larry Gerber

April 21, 2022

Last month, partners Epoch Senior Living and National Development opened the doors for the first time to their new $120-million Waterstone of Westchester luxury senior housing project in Downtown White Plains. The independent living facility for those 62 and older offers everything a five-star hotel would offer and more. The 132-unit property is located across…

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Study Finds No Major Impact on School Enrollment From Recent Multifamily Development Projects

April 21, 2022

ARMONK—A recently released study commissioned by The Welcome Home Westchester campaign has found there wasn’t any data from recent large multifamily developments in suburban Westchester communities to substantiate fears of a surge in student enrollment expressed by local opponents of those development projects. Not only have these projects been harmless to the districts, they have…

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U.S. Existing-Home Sales Slip 2.7% in March; Median Home Sales Price Hits New Record

April 20, 2022

WASHINGTON—Existing-home sales decreased in March, marking two consecutive months of declines, according to a report released today by the National Association of Realtors. Month-over-month, sales in March waned in three of the four major U.S. regions while holding steady in the West. Sales were down across each region year-over-year. Existing-home sales in the Northeast slid…

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Newmark Selected to Lease and Manage Briarcliff Office Campus

April 15, 2022

BRIARCLIFF MANOR—Newmark reports it has been retained by the new ownership of 555 Pleasantville Road,  as the exclusive leasing agent and property manager for the office complex. The property has been recently sold to a joint venture between Saber Real Estate Advisors, Tarrytown Partners and GHC Development. USI Insurance was a major tenant at the…

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Advanced Materials Firm Relocating Operations From Tarrytown to Hudson Valley iCampus

April 14, 2022

PEARL RIVER—Momentive Performance Materials Inc. is relocating its operations in Tarrytown to nearly 67,000 square feet of space at the 207-acre Hudson Valley iCampus property here in 2023. Momentive Performance, which is headquartered in Waterford, (Saratoga County) NY will relocate from its current space at 769 Old Saw Mill River Road in Tarrytown in early…

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HGAR, NAR, Realtor Groups to Stage Diversity, Equity, Inclusion Summit

April 13, 2022

Mark Your Calendar MAHWAH, NJ—The National Association of Realtors, New York State Association of Realtors, Hudson Gateway Association of Realtors and other regional Realtor associations will hold an all-day Diversity, Equity and Inclusion Summit on June 14 at the Sheraton Mahwah Hotel in Mahwah, NJ. Program details for the all-day conference (9 a.m. to 4…

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NYSAR Issues Call to Action to Oppose ‘Good Cause Eviction’ Legislation

April 13, 2022

ALBANY—The New York State Association of Realtors issued a “Call to Action” on April 12 to alert its membership that the State Legislature is considering passage of “Good Cause Eviction” legislation, which would restrict the ability of a landlord to evict a tenant, even in cases where their lease has expired so long as the…

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NAR Study Suggests Biggest Obstacle to Homebuying Is the Lack of Affordable Housing, Available Inventory

April 13, 2022

“In the current hot market, people who have traditionally enjoyed homeownership can capitalize on those gains to realize new opportunities. Meanwhile, the market becomes increasingly unaffordable, and the obstacles greater, for those trying to enter the market.” WASHINGTON—The lack of affordable homes is the top obstacle holding back potential home buyers of all races, but…

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HGAR’s RPAC Committee Holds Successful Happy Hour Event

April 11, 2022

  WHITE PLAINS—The Hudson Gateway Association of Realtors’ RPAC Committee held its first 2022 Happy Hour Networking event on April 7 at Pax Romana in White Plains. Approximately 75 people attended, raising a total of $3,500 for the Realtors Political Action Committee. RPAC advocates for real estate professionals and homeowners on a local, state and…

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What You Need to Know About the New Standard Operating Procedures (SOPs)

April 11, 2022

There are a lot of questions and concerns from our members relating to the newly instituted Standard Operating Procedures (SOPs). This month’s article can serve as a “cheat sheet” on the basics and, hopefully, will answer many of your questions. NYSAR’s SOPs template can be found here. • The new SOPs requirement is effective April…

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SPOTLIGHT ON: Bart D’Andrea

April 11, 2022

A Bittersweet Farewell to REID’s Graphic Designer of 44 Years For the past 44 years, Bart D’Andrea has been the “man behind the scenes” of Real Estate In Depth and its predecessor publication Westchester Realtor—planning the newspaper layout, designing ads, and basically creating the look and feel of the Association’s award-winning publication. But this April…

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MIPIM 2022 Conference Focused on ‘Driving Urban Change’

April 11, 2022

Editor’s Note: A contingent of Hudson Gateway Association of Realtors members and staff attended the MIPIM 2022 conference in Cannes, France from March 15-March 18. Using the theme of “Driving Urban Change,” MIPIM organizers offered information about making communities more sustainable, livable, affordable and resilient in the wake of COVID-19. Organizers appealed to the real…

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Orange County IDA Launches Shovel Ready Development Site Initiative With RFQ Release

April 8, 2022

GOSHEN—The Orange County Industrial Development Agency in an attempt to secure new shovel-ready development sites has launched an initiative aimed at creating the link between infrastructure, zoning, land use and economic development opportunities in a cost-efficient manner. The IDA states that its intent is to maximize the economic benefit of potential projects involving both re-use…

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National Resources Secures $230M Refinancing For New Lionsgate Studio Project in Yonkers

April 6, 2022

YONKERS—Greenwich, CT-based development firm National Resources has secured a $230-million refinancing deal for Lionsgate Studios Yonkers, a 500,000 square foot, state-of-the-art film production complex at 28 Wells Ave. in Yonkers. The deal was announced on April 4 by JLL Capital Markets, which worked on behalf of the borrower, National Resources to originate the five-year, fully…

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