Residential

GUEST VIEWPOINT: Celebrating Black History Month

February 1, 2022

After New Year celebrations wind down, organizations begin their annual discussions on what and how to celebrate Black History Month. Many begin by recognizing the lives and contributions of Black Americans throughout history, while others post messages of recognition on social media. I believe it all has a role to play but it is also…

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Westhab Closes on Construction Financing For Affordable Housing Project in Yonkers

January 28, 2022

YONKERS—Westhab, a Yonkers-based provider of affordable housing and social services, wrapped up 2021 by closing on construction financing for the Hudson Hill affordable housing project in Yonkers and a shelter renovation project in the borough of Queens. Hudson Hill in Yonkers is a 113-unit ground-up affordable housing development incorporating state-of-the-art green technologies. The Briarwood Rapid…

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Former NYC Councilwoman Appointed HUD Regional Administrator for NY, NJ

January 26, 2022

WASHINGTON—President Biden announced on Jan. 25 the appointment of Alicka Ampry-Samuel to serve as HUD Regional Administrator for Region II, serving New York and New Jersey. Regional Administrator Ampry-Samuel will oversee HUD operations, including the New York City Regional Office and field offices in Buffalo, Albany, and Newark, NJ. “Regional Administrator Ampry-Samuel comes to HUD…

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Yonkers IDA Provided Incentives for Projects Valued at More Than $508M in Private Investment

January 26, 2022

YONKERS—The Yonkers Industrial Development Agency reports that it provided financial incentives in 2021 to residential and commercial projects representing a total private investment of more than $508 million. The developments are projected to create 1,009 new residential units and more than 1,739 construction jobs. Since 2019, the Yonkers IDA has provided financial incentives to development…

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Elmsford-Based Developer Selected for Mount Pleasant IDA Project

January 25, 2022

MOUNT PLEASANT—Trinity Associates of Elmsford has been selected by the Mount Pleasant Industrial Development Agency to build a transit-oriented development project on a long-vacant parcel in the hamlet of Hawthorne. The Mount Pleasant IDA announced on Jan. 24 it had approved its chair to enter negotiations to sell the property located at 408 Elwood Ave…

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Annual U.S. Existing-Home Sales Hit Highest Mark Since 2006

January 20, 2022

WASHINGTON—Existing-home sales declined in December, snapping a streak of three straight months of gains, according to the National Association of Realtors. Each of the four major U.S. regions witnessed sales fall in December from both a month-over-month and a year-over-year basis. Despite the drop, overall sales for 2021 increased 8.5%. Total existing-home sales involving completed…

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Realtors Expect Continued Strong Housing Market in 2022

January 20, 2022

WHITE PLAINS—After residential sales volume in the Hudson Gateway Association of Realtors’ market area reached historically high levels in 2021, brokers expect continued strong sales activity this year, although not at the feverish pace the industry enjoyed in the midst of the COVID-19 pandemic. To say there are headwinds facing Realtors and consumers in 2022…

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State Awards $991 Million in Funding for Affordable Housing Projects

January 14, 2022

ALBANY—New York Gov. Kathy Hochul announced on Jan. 13 a total of $991 million in bonds and subsidies awarded to create or preserve 3,242 affordable, sustainable, and supportive homes across the state. The funding awards include $680 million in financing for six projects in the New York City and Mid-Hudson regions. The developments will leverage…

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Houlihan Lawrence Expands Operations to New Haven, CT

January 11, 2022

RYE BROOK—In what the brokerage firm describes as “a significant expansion move,” Houlihan Lawrence reported on Jan. 10 that it is growing its presence in the State of Connecticut. The Rye Brook-based company announced that New Haven, CT-based brokerage firm Wareck D’Ostilio is joining Houlihan Lawrence as an independently owned affiliate. Wareck D’Ostilio’s 75 agents…

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Westchester IDA, LDC Provided Incentives That Fueled $1.2B in Investment in 2021

January 6, 2022

WHITE PLAINS—The Westchester County Industrial Development Agency and the Westchester County Local Development Corporation has provided financial incentives and tax-exempt bond financing to major developments representing more than $1.2 billion in private investment in Westchester County’s economy last year. “As Westchester re-emerges from the economic downturn resulting from the pandemic, the IDA and LDC have…

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Slowing Fourth Quarter Sales Did Not Derail Record 2021 Housing Market

January 4, 2022

WHITE PLAINS—Residential sales in 2021 in the counties served by OneKey MLS, Inc. reached a historic peak. This, despite a slowing of sales in the fourth quarter in all areas served by OneKey MLS with the exception of Bronx County. Arguably, some of the slowdown can be attributed to the dearth of inventory in the…

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Houlihan Lawrence’s Stronger Together Campaign Raises Over $125,000 for Breast Cancer Awareness

December 29, 2021

RYE BROOK—Continuing a proud tradition that dates back 25 years, Houlihan Lawrence’s real estate professionals from across its 30 office teams once again came together this fall in support of Breast Cancer Awareness month, the company’s largest philanthropic initiative. The brokerage firm reported recently that this year, the company’s Stronger Together Campaign raised more than…

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Hudson Gateway REALTOR® Foundation and Bronx YMCA’s “Operation REALTORS® Kids” Toy Drive a Huge Success

December 29, 2021

The Hudson Gateway REALTOR® Foundation, the charitable arm of the Hudson Gateway Association of REALTORS® (HGAR), and the Bronx YMCA’s “Operation REALTORS® Kids” Toy Drive was a tremendous success this year. Now in its 10th year, the toy drive benefitted 80 children in 35 families throughout the Bronx on Christmas Day. “Operation Realtors Kids” Toy…

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November 2021 Realtors Confidence Index Report: First-Time Buyer Share Falls to 26% in November With Nearly 1 Million Renter Households Priced Out of the Market

December 28, 2021

Editor's Note: Reprinted with permission from the National Association of Realtors®. By Scholastica (Gay) Cororaton Many first-time buyers continue to struggle to move into homeownership amid sustained price growth and competition from all-cash buyers. The share of first-time buyers fell to 26% in November, according to the November REALTORS® Confidence Index Survey, a survey of…

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Existing U.S. Home Sales Rose 1.9% in November; Northeast Sales Flat Compared to October Volume

December 27, 2021

WASHINGTON—Existing U.S. home sales rose in November, denoting three consecutive months of increases, according to the National Association of Realtors. Three of the four major U.S. regions reported growth in monthly sales, while the fourth region—the Northeast—held steady in November. From a year-over-year perspective, only one region experienced a rise in sales as the three…

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Gov. Hochul Signs Bill Package to Combat Housing Discrimination in Response to Newsday’s Expose

December 22, 2021

ALBANY—New York Gov. Kathy Hochul signed a legislative package on Dec. 21 totaling nine bills geared at combating housing discrimination and addressing issues raised in a Newsday expose entitled “Long Island Divided.” The centerpiece of the legislation is the Anti-Discrimination in Housing Fund that will permit the state to conduct fair housing testing. Other initiatives…

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New Rochelle City Council Adopts Sweeping New Downtown Overlay Zone Amendments

December 21, 2021

NEW ROCHELLE—The New Rochelle City Council unanimously approved on Dec. 20 significant advancements to its historic redevelopment, enabling the continuation of the district’s transformation that began six years ago. The city’s efforts to adopt a form-based zoning code providing certainty for developers already have helped attract $2.2 billion in private investment, resulting in the development…

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New York State Awards $145M for Affordable Housing Projects

December 17, 2021

ALBANY—Governor Kathy Hochul announced on Dec. 16 more than $145 million has been awarded to create or preserve 1,178 affordable homes in 21 separate developments across New York. The funding will further pandemic recovery efforts, fight homelessness, help close the digital divide for lower income households, and expand access to safe and sustainable affordable housing…

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