Residential

Ossining, Haverstraw Win $10-Million Downtown Revitalization Awards

November 23, 2021

OSSINING—Downtown revitalization efforts in the Village of Ossining and across the Hudson in the Town of Haverstraw each got a $10-million infusion of cash. New York Gov. Kathy Hochul announced at an event held at the Joseph G. Caputo Community Center here on Nov. 22 that Haverstraw and Ossining will receive $10 million each in…

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U.S. Existing-Home Sales Inch Up 0.8% in October; Northeast Sales Declined by 2.6%

November 23, 2021

WASHINGTON—Existing-home sales increased in October, marking two straight months of growth, according to the National Association of Realtors. Two of the four major U.S. regions saw month-over-month sales climb, one region reported a drop and the fourth area held steady in October. On a year-over-year basis, each region witnessed sales decrease. Existing-home sales in the…

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City, County and State Officials Celebrate Completion of $53.5M Project in Yonkers

November 22, 2021

YONKERS—City of Yonkers, Westchester County and New York State officials joined with the Municipal Housing Authority for the City of Yonkers and The Community Builders recently to celebrate the completion of 172 Warburton at The Ridgeway, a new $53.5-million mixed-income residential community in Southwest Yonkers. 172 Warburton at The Ridgeway continues the strong partnership between…

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Bronx Housing Market Thrived in 2021; Activity to Remain Strong in 2022

November 18, 2021

Bronx's thriving real estate market showed no signs of slowing in the third quarter of 2021. The dwindling housing supply and rising demand have resulted in a steady flow of transactions throughout the summer months. The Bronx has also been one of the hardest hit by the COVID-19 pandemic, with the highest job losses among…

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A Conversation With Bronx Borough President-Elect Vanessa Gibson

November 18, 2021

Real Estate In-Depth recently interviewed and posed “Five Questions” to New York City Council Member and former New York State Assemblywoman Vanessa L. Gibson, who will be taking office in January 2022 as the new Borough President of the Bronx, succeeding Ruben Diaz Jr. who decided not to run for re-election after serving three terms.…

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NAR Announces New MLS Guidance That Reinforces Greater Transparency

November 16, 2021

CHICAGO—The National Association of Realtors announced on Nov. 15 the adoption of changes to its guidance for local Multiple Listing Service broker marketplaces that reinforce greater transparency for consumers. The changes ensure disclosure of compensation offered to buyer agents, ensure listings are not excluded from search results based on the amount of compensation offered to…

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100% Affordable Seniors Housing Development Breaks Ground in the Bronx

November 15, 2021

NEW YORK—The development team led by ELH Mgmt. LLC; The Kretchmer Companies; Xenolith Partners LLC and JASA, along with HPD; HDC; and NYCHA; celebrated the groundbreaking of a new senior housing development, Casa Celina on Oct. 19. Located on NYCHA’s Justice Sonia Sotomayor campus in the Soundview neighborhood of the Bronx, the 100% affordable project,…

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March of Dimes 34th Annual Real Estate Awards Breakfast Raises $1 Million

November 15, 2021

WHITE PLAINS—The March of Dimes Greater NY Market held the 34th Annual Real Estate Awards Breakfast on Nov. 4th at the Opus Westchester in White Plains. The event shattered its fundraising goal, raising more than $1 million to support the March of Dimes’ mission to improve the health of moms and babies. Two visionary commercial…

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Douglas Elliman to File for Spinoff IPO

November 10, 2021

NEW YORK—Vector Group Ltd. announced on Nov. 8 that residential brokerage firm Douglas Elliman Inc. plans to file a Form 10 registration statement with the United States Securities and Exchange Commission in connection with its intended spin-off into a standalone, publicly traded company. The planned spinoff and IPO could take place as early as the…

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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…

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$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…

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Ron Garafalo Named 2021 HGAR Realtor of the Year

November 3, 2021

TARRYTOWN—At its 105th Annual Member Appreciation Day, held on Oct. 25 at the Sleepy Hollow Hotel & Conference Center in Tarrytown, the Hudson Gateway Association of Realtors awarded Ron Garafalo, sales manager with John J. Lease Realtors in Middletown, as its “Realtor of the Year” for 2021. David Singer, CEO of Robison Oil in Port…

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Hudson Gateway Realtor Foundation Donates $2,500 to Habitat for Humanity in Newburgh

November 3, 2021

WHITE PLAINS—The Hudson Gateway Realtor Foundation, the charitable arm of the Hudson Gateway Association of Realtors, recently presented a check for $2,500 to Habitat for Humanity of Greater Newburgh. Founded in 1999, Habitat for Humanity of Greater Newburgh is dedicated to providing decent, affordable housing in partnership with families in need. Reaching across religious, cultural,…

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Two Westchester Engineering Firms Merge

November 2, 2021

WHITE PLAINS—Two well-known Westchester planning and engineering firms who provide land use and project design services for many development projects in Westchester County and the New York metro and Hudson Valley regions have joined forces. Divney Tung Schwalbe, a White Plains-based planning, civil engineering and landscape architectural firm, and Provident Design Engineering, a traffic, transportation…

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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…

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Biden’s ‘Build Back Better’ Framework Includes Historic Investment in Affordable Housing, Spares Real Estate from Onerous Taxes

October 29, 2021

WASHINGTON—The National Association of Realtors has released an analysis of the framework released by the Biden administration yesterday of his now $1.75-billion “Build Back Better” plan that includes historic investment in affordable housing. The framework also features hard-fought NAR-backed priorities like investments in down-payment assistance and also spares real estate investment from the most feared…

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‘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.…

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