News

HGAR Launches ‘Fair Housing Challenge’ Initiative In Observance of National Fair Housing Month

March 31, 2021

WHITE PLAINS—The Hudson Gateway Association of Realtors has announced it is launching its “Fair Housing Challenge” initiative in observance of the U.S. Housing and Urban Development’s “National Fair Housing Month” for April. HGAR’s “Fair Housing Challenge” has been distributed to its 13,000 Realtor members stretching from Manhattan to Orange County, and consists of three segments—a…

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City of Newburgh Issues RFPs on Three East End Development Sites

March 30, 2021

NEWBURGH—The City of Newburgh is seeking development proposals for three city-owned properties located in the heart of the Newburgh’s East End Historic District. The city announced on March 17 that the first proposal calls for the rehabilitation of 120 Grand St., formerly known as the “City Club” building. A second proposal seeks the restoration of…

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Construction Begins on $36M Affordable Seniors Housing Project in White Plains

March 30, 2021

WHITE PLAINS—The New York State Homes and Community Renewal, MDG Design + Construction LLC, Smith & Henzy Advisory Group, Inc., and partners announced on March 29 the start of a $35.8-million rehabilitation of Kingsley House, a 164-unit affordable, Mitchell-Lama housing development for seniors in White Plains. The project will preserve affordability for residents while modernizing…

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Yonkers IDA Grants Preliminary Approvals Of Incentives for Projects Valued at $144M

March 30, 2021

YONKERS—The Board of Directors of the Yonkers Industrial Development Agency voted to grant preliminary approval of financial incentives for three new development projects—Horizon at Ridge Hill, Hudson Hill and a CubeSmart storage facility. The three projects, which received preliminary approval at the IDA’s March 25 meeting, represent a total private investment of $144.3 million and…

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Report: Wall Street's 2020 Bonuses Rose Amid Volatility

March 29, 2021

ALBANY—The average bonus paid to employees in New York City’s securities industry grew by 10% in 2020 to $184,000, in line with the city’s most recent 9.9% projection, likely allowing the city to meet or exceed its income tax revenue projections in FY2021, according to annual estimates released today by New York State Comptroller Thomas…

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New York Lawmakers Push for SALT Cap Repeal

March 26, 2021

WHITE PLAINS—New York federal representatives and Westchester County Executive George Latimer staged a press conference on March 25th at the home of a White Plains resident to push for the repeal of the controversial SALT (State and Local Tax) deduction cap. U.S. Rep. Mondaire Jones (NY-17), U.S. Rep. Tom Suozzi (NY-03), U.S. Rep. Jamaal Bowman…

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St. Thomas Aquinas Pays $7 Million to Expand Campus Footprint

March 24, 2021

SPARKILL—St. Thomas Aquinas College has acquired the 12-acre Camp Venture property here for $7 million, which increases its campus footprint by 20%. The college’s campus now has been expanded to 72 acres. The deal includes the 12-acres adjoining the St. Thomas Aquinas campus and a 100,000-square-foot building at 230 Route 340. The deal initially involves…

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NAR Warns of Possible Slowdown Due To Low Inventory, Rising Interest Rates

March 23, 2021

WASHINGTON—Existing-home sales declined in February, following two prior months of gains, reported the National Association of Realtors on March 22. Month-over-month, only one major region saw an increase in February, but all four U.S. regions recorded year-over-year gains. Total existing-home sales, completed transactions that include single-family homes, townhomes, condominiums and co-ops, decreased 6.6% from January…

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Edge-on-Hudson Earns National NAHB Awards

March 19, 2021

SLEEPY HOLLOW—The Edge-on-Hudson, a mixed-use, transit-oriented community under development in Sleepy Hollow was honored in March with the Gold Award for 2021 MultiFamily Community of the Year at the National Association of Home Builder’s The Nationals awards program. Additionally, Edge-on-Hudson earned Gold Awards for Best Video and Best MultiFamily Model Home for The Carroll by…

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NAR: Millennials Dominate Home Buying Market, Generation Z Now Active Buyers as Well

March 17, 2021

WASHINGTON—The popularity of multigenerational homes increased over the last year, as a rising number of homebuyers purchased larger residences compared to prior years, including millennials who continue to make up the largest share of homebuyers at 37%, the National Association of Realtors reported on March 16. The finding is one of a number of trends…

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Economic Development Officials Confident Regional Economy Will Improve in 2021

March 16, 2021

WHITE PLAINS— A panel of economic development officials from throughout the Hudson Gateway Association of Realtors’ market area are generally upbeat about their respective markets, all reporting that they expect targeted industries to bring new investment to their markets to reduce inflated unemployment rates post pandemic. With COVID-19 vaccine inoculations continuing, they also believe that…

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Grand Lux Realty Relocates Headquarters to Chappaqua

March 15, 2021

CHAPPAQUA—Grand Lux Realty announced on March 12 that it had opened its new office in Chappaqua at 101 King St. “We established our Armonk office back in 2006,” said Michael Levy, founder and principal broker, Grand Lux Realty. “This move is bittersweet, but we are not saying goodbye to Armonk or our long-time clients. While…

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Hudson Valley Lost More Than 76,000 Jobs in 2020

March 12, 2021

ALBANY—The employment numbers for 2020 released by the New York State Department of Labor for the Hudson Valley region on March 11 were not surprising in the least, with leisure and hospitality leading the way with job losses during the 12-month period, exacerbated by the coronavirus pandemic, that exceeded 22,000 jobs. However, job numbers released…

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Storied Anthony’s Pier 9 to be Sold; To Be Converted into Movie Studio

March 10, 2021

NEW WINDSOR—Orange County’s premier wedding, catering and event venue Anthony’s Pier 9 in New Windsor is in contract to be sold to an entity that plans to convert the 70,000-square-foot facility into a motion picture production studio. The pending sale with the unidentified buyer was announced by The Bonura Hospitality Group, which stated it expects…

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Governor Cuomo Signs Bill Establishing Eviction Protections for Small Businesses

March 10, 2021

ALBANY—Governor Andrew M. Cuomo on March 9 signed the COVID-19 Emergency Protect Our Small Businesses Act of 2021 that establishes eviction and foreclosure protections for small businesses until at least May 1m 2021. The new protections build-off of the governor's Executive Order and commercial eviction and foreclosure moratorium that has protected businesses in New York…

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Reimagining ‘Big Box’ Retail in the Hudson Valley

March 8, 2021

Back in the days before COVID, when large parties, corporate events, weddings and galas were in vogue, there was always one place to go where you knew you’d find the perfect outfit. But, after almost 200 years in business, Lord & Taylor is shuttering all of its 38 retail locations throughout the country. In our…

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