Residential

Houlihan Lawrence: Low Inventory, Strong Buyer Demand Driving Robust Home Sales in Westchester, Putnam, Dutchess Counties

October 7, 2021

RYE BROOK—Driven by historically low inventory levels and persistent buyer demand, 2021 is proving to be an extremely strong year for single-family home sales in Westchester, Putnam and Dutchess counties alike, according to the recently released “Houlihan Lawrence Westchester Putnam & Dutchess Q3 Market Report.” In Westchester County, sales have increased 28% this year and…

Residential Sales Post Strong Gains Regionwide in Third Quarter

October 6, 2021

WHITE PLAINS—Third quarter residential home sales for the Lower Hudson region, served by OneKey Multiple Listing Service, surpassed the historically high third quarter sales figures of 2020 which were attributed in large part to a response to COVID-19, according to the 2021 Third Quarter Residential Real Estate Sales Report for Westchester, Putnam, Rockland, Orange, Sullivan,…

Community Preservation Corp. Says Multi-Faceted Solutions Necessary to Fix NYCHA’s Woes

October 6, 2021

NEW YORK—Non-profit multifamily housing finance company The Community Preservation Corporation released a new paper on Oct. 5 outlining a critical path it says needs to move forward for saving the New York City Housing Authority. The white paper entitled “Ending the NYCHA Blame Game: A Multi-Pronged Solution to Fix Decades of Disinvestment” explains the realities…

Storied Brokerage Warburg Realty Acquired by Realogy; Joining Coldwell Banker

October 5, 2021

NEW YORK—A subsidiary of Realogy, parent of Coldwell Banker Real Estate, LLC, has acquired New York City brokerage firm Warburg Realty, which began operations in New York City 125 years ago. The storied New York City based brokerage will operate as Coldwell Banker Warburg and will be fully rebranded in January 2022, following filings with…

Howard Hanna Real Estate Patriarch Passes Way at the Age of 101

September 29, 2021

Howard W. Hanna, Jr., who co-founded Howard Hanna Real Estate Services in Pittsburgh, PA in 1957, passed away at the age of 101 on Sept. 25. After serving as an American Liaison Officer with the British Army in India in World War II, Hanna, and his wife Anne Freyvogel Hanna, began the real estate company…

NYCHA and HPD Finalize Deal to Build $60M Bronx Affordable Housing Project

September 29, 2021

NEW YORK—The New York City Housing Authority and the New York City Department of Housing Preservation and Development reported on Sept. 28 they had finalized a $60-million deal that will bring 101 new affordable apartments to the Mott Haven neighborhood of the Bronx. Construction on the 101-unit Betances Family Apartments building at a site of…

Longtime and Respected Association CEO P. Gilbert Mercurio Passes Away

September 28, 2021

WHITE PLAINS—A man who for more than three decades was a driving force behind the growth and growing respect of the Westchester County Board of Realtors has died. P. Gilbert Mercurio, who led the Westchester County Board of Realtors and its successor organization the Westchester Putnam Association of Realtors for 31 years as its chief…

Howard Hanna |Rand Realty Announces Changes to the New York Executive Team

September 28, 2021

NANUET—Howard Hanna | Rand Realty announced yesterday changes to the New York executive team that the company states are geared to creating “a stronger foundation and support in the career of its agents.” Renee Zurlo has been named General Manager of New York. Zurlo has been working for more than 12 years for the Rand…

Construction Completed on $43-Million Affordable Housing Development in Yonkers

September 24, 2021

YONKERS—New York Gov. Kathy Hochul announced on Sept. 23 the completion of the Dayspring Campus, a $43-million development with 63 affordable and supportive apartments and a newly renovated community center in Southwest Yonkers. Financed with more than $20.6 million in assistance from state Homes and Community Renewal, the development includes 37 apartments reserved for homeless…

The Orange County Real Estate Market Continues to Soar

September 22, 2021

Have you ever had that uncanny sensation where you’re experiencing something that you had said or done before? As I began to write this article, I was about two paragraphs in, and suddenly felt that strange feeling of déjà vu. I was reading my words and hearing something in my mind that was just so…

Real Estate Panel Says ‘New’ Manhattan Emerges Amid Pandemic with Housing, Retail Opportunities

September 21, 2021

NEW YORK—After an unprecedented year of shutdowns, New York City is open for business and Manhattan’s residential real estate market is showing renewed signs of strength. That momentum is only expected to increase as the cultural and entertainment revival continues and new developments lure buyers back to the city, according to a panel of real…

Construction Completed on $42 Million Affordable Senior Housing Project in Rockland County

September 15, 2021

NANUET—New York Gov. Kathy Hochul announced on Sept. 14 the opening of Vincent's Village, a $42-million affordable and supportive housing development in the village of Nanuet. Supported with $21.9 million in financing from New York State Homes and Community Renewal, the development has 93 affordable homes with on-site health and wellness services for adults age…

Westchester County Executive Latimer Cuts Ribbon On Redevelopment of Former WestHELP Facility

September 15, 2021

GREENBURGH—On Sept. 14, Westchester County Executive George Latimer cut the ribbon on the Mayfair Apartments in Greenburgh. The completed project involved the redevelopment of the former WestHELP Greenburgh Homeless Shelter on the Westchester Community College Campus built in the 1980s into 74 units of affordable rental housing for seniors aged 62 and older. The project…

Student Loan Debt Holding Back Majority of Millennials from Homeownership

September 15, 2021

WASHINGTON—Sixty percent of non-homeowning millennials say student loan debt is delaying their ability to buy a home, by far the most affected population, according to a new poll released on Sept. 14 by the National Association of Realtors. The findings also show that Americans burdened with high student debt see the impact on their daily…

National Association of Realtors Files Petition Opposing DOJ’s Withdrawal from Settlement Agreement

September 14, 2021

CHICAGO—The National Association of Realtors on Sept. 13 filed a petition to quash a request by the U.S. Department of Justice that NAR states reneges on the terms of a settlement agreement approved by the DOJ in November 2020. The DOJ attempt to withdraw from that fully binding agreement in July 2021, after NAR had…

WRO, City of White Plains Awarded HUD Fair Housing Program Funding

September 9, 2021

WASHINGTON - The U.S. Department of Housing and Urban Development announced earlier this month it had awarded $47.4 million to fair housing organizations across the country under its Fair Housing Initiatives Program. The grants will support the efforts of 120 national and local fair housing organizations working to address violations of the Fair Housing Act…

Fannie Mae: Consumers Slightly More Optimistic About Homebuying Conditions for First Time Since March

September 9, 2021

WASHINGTON—The Fannie Mae Home Purchase Sentiment Index released on Sept. 7 was largely unchanged in August, decreasing 0.1 points to 75.7, as survey respondents tempered both their recent pessimism about homebuying conditions and their upward expectations of home price growth. Overall, three of the index’s six components increased month over month, while the other three…

Business Council Issues Recommendations For County to Spend $188M in COVID Funds

September 9, 2021

WHITE PLAINS—The Business Council of Westchester’s Economic Recovery Task Force has issued a number of far-reaching recommendations to Westchester County on how to spend approximately $188 million in federal funding from the American Rescue Plan to help foster economic development and continued recovery from the coronavirus. The report issued on Sept. 8 included hundreds of…

Gov. Hochul Signs Bill Extending COVID-Related Eviction Moratorium in NY Until Jan. 15, 2022

September 2, 2021

ALBANY—Gov. Kathy Hochul signed into law on Sept. 2 a new moratorium on COVID-related residential and commercial evictions for New York State which will be in effect until Jan. 15, 2022. The moratorium extension is now in the courts as a major landlord association has filed suit against the new law. Under the new law, all…

Home Services of America Acquires BHHS Hudson Valley Properties Brokerage Firm

September 1, 2021

MINNEAPOLIS— HomeServices of America, Inc., a Berkshire Hathaway affiliate, announced today it had acquired Berkshire Hathaway HomeServices Hudson Valley Properties, which is headquartered in LaGrangeville in Dutchess County. The firm has been servicing the Mid-Hudson Valley market for the past 29 consecutive years. Hudson Valley Properties will join the Berkshire Hathaway HomeServices New England Properties…