NEW YORK—New York City Economic Development Corporation released a Request for Proposals (RFP) on Sept. 25 for a developer to lease, redevelop, and operate the Kingsbridge Armory, one of the largest armory buildings in the world and a landmarked structure that contains approximately 570,000 square feet of space. The RFP follows the release of the…
Read MoreALBANY—New York Gov. Kathy Hochul signed a bill on Friday, Sept. 22 that requires home sellers to inform home buyers as to whether a property is located in a flood risk area or has previously flooded. The governor signed legislation (A.1967/S.5400) which establishes a flood risk “right to know” for homebuyers. Previously sellers could opt…
Read MoreWASHINGTON—Existing-home sales moved lower in August, according to the National Association of Realtors. Among the four major U.S. regions, sales improved in the Midwest, were unchanged in the Northeast, and slipped in the South and West. All four regions recorded year-over-year sales declines. Total existing-home sales—completed transactions that include single-family homes, townhomes, condominiums and co-ops—slid…
Read MoreCHICAGO—In a video message posted on Sept. 7, National Association of Realtors President Tracy Kasper acknowledged the pain caused by the charges of harassment and discrimination at NAR that led to the resignation of former NAR President Kenny Parcell on Aug. 28. Kasper, who was named NAR President on Aug. 28, acknowledged that in the…
Read MoreNEW YORK—OneKey MLS announced on Thursday, Sept. 14 it had launched an enhanced version of OneKeyMLS.com, the consumer property search portal offering property listings in New York City, Long Island and the Hudson Valley region from 49,000 subscribers and 4,500 participating offices in the New York regional coverage area. The new site features more in-depth…
Read MoreNEWBURGH—Hudson Valley Pattern for Progress released a new report on Sept. 12 that clearly identifies an affordability crisis for housing in the region, fueled by stagnant wages, increasing rents, and skyrocketing home prices that have stretched household budgets to their limits. The report, Out of Reach Hudson Valley 2023, uses federal and local data to…
Read MorePEEKSKILL—State and local officials joined the developer on Sept. 11 to celebrate the completion of a $51-million affordable housing project in Downtown Peekskill. The 645 Main St. development includes 82 apartments affordable to households earning between 40% and 80% of the Area Median Income, and a 140-space parking garage. The developers are the Housing Action…
Read MoreSLEEPY HOLLOW—The mixed-use Edge-on-Hudson community being built at the former site of a General Motors minivan assembly plant on the shores of the Hudson River has achieved a series of construction and sales milestones as the project enters new project phases of development. Project developers noted that it has been four years since home sales…
Read MoreWASHINGTON—The Mortgage Bankers Association reported on Sept. 6 that mortgage applications decreased 2.9% from one week earlier, according to data from the association’s Weekly Mortgage Applications Survey for the week ended Sept. 1, 2023. The Market Composite Index, a measure of mortgage loan application volume, decreased 2.9% on a seasonally adjusted basis from one week…
Read MoreNEWBURGH—New York State, county and city officials announced on Sept. 6 the completion of the $37-million East End II affordable housing project in the City of Newburgh. The East End II project has encompassed the renovation or construction of 24 properties and created 62 affordable homes, including 10 units with supportive services. The project also…
Read MoreALBANY—The COVID-19 pandemic has caused property tax disparity to worsen in New York City, driving housing costs higher for many, according to a report released on Sept. 6 by New York State Comptroller Thomas P. DiNapoli. Property tax disparities have been well documented for decades by advocates, fiscal monitors and the city, but the report…
Read MoreMatt McAllister, an agent with Corcoran Baer & McIntosh in Nyack and COO at Statewide Abstract, has raised almost $3,000 to date for the Hudson Gateway Realtor Foundation, through his recent 142-mile Steamboat Gravel Bike Race in Steamboat Springs, Colorado. To date, McAllister’s GoFundMe page has garnered $2,706 in donations and it will remain open…
Read MoreThe Hudson Gateway Association of Realtors regrets to inform its membership of the tragic passing of real estate veteran, HGAR member, association executive and attorney Don Cummins III on Friday, Sept. 1 at the age of 54. Cummins was previously the Team Leader at Keller Williams Realty Partners of Baldwin Place and formerly served as…
Read MoreCHICAGO—Two days after a New York Times report that detailed claims of sexual harassment against National Association of Realtors President Kenny Parcell, the Utah-based Realtor executive, while denying the allegations, resigned from the post on Monday (Aug. 28) effective immediately. President-Elect Tracy Kasper took over as NAR President effective immediately. The allegations and subsequent fallout…
Read MoreBRIARCLIFF MANOR—Howard Hanna | Rand Realty announced on Aug. 24 that the “Mark Seiden Real Estate Team,” of Briarcliff Manor has joined the regional brokerage firm. The deal marks the addition of another independent Westchester County-based real estate brokerage to the Howard Hanna | Rand Realty firm. Back in May, Howard Hanna | Rand Realty…
Read MoreGOSHEN—The Hudson Gateway Association of Realtors was one of the first private organizations to provide much-needed financial assistance to homeowners in the flood-ravaged Highlands/West Point area and other sections of the Hudson Valley region that suffered significant damage from the devastating heavy rains on July 9-10. The Hudson Gateway Association of Realtors applied for and…
Read MoreWASHINGTON—Existing-home sales receded in July, according to the National Association of Realtors. Among the four major U.S. regions, sales grew in the West but faded in the Northeast, Midwest and South. All four regions registered year-over-year sales declines. Total existing-home sales, completed transactions that include single-family homes, townhomes, condominiums and co-ops, waned 2.2% from June…
Read MoreWHITE PLAINS—The Hudson Gateway Association of Realtors shined the spotlight on Westchester County on July 24 with a highly informative program that highlighted the latest in economic development, politics, as well as updates from HGAR on a host of its initiatives that impact Westchester County and its real estate market. The program was the second…
Read MoreMark Your Calendar TARRYTOWN—After holding its Annual Meeting & Member Appreciation Day at the Sleepy Hollow Conference Center (formerly the DoubleTree Hotel) for more than a decade, HGAR will be moving its biggest event of the year to the Westchester Marriot Hotel, located on Route 119 in Tarrytown on October 30. The hotel is currently…
Read MoreFARMINGDALE—For July 2023, OneKey MLS reported a regional closed median sale price of $633,000, a 3.40% increase as compared to the $612,000 reported in June 2023. In a year-over-year comparison, the closed median sale price rose slightly as well, increasing 2.10% from the $620,000 reported in July 2022. Between June 2023 and July 2023, closed…
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