Residential

Foley Promoted to CEO of Building and Realty Institute

January 27, 2021

ARMONK—One year after joining the Building and Realty Institute as its executive director, Timothy Foley of Scarsdale has been promoted to chief executive officer of the locally-based organization. “BRI has grown as an organization while staying true to our mission to advocate for the best interests of the realty industry to government and the community,…

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NAR: 2020 Annual U.S. Sales Registered Highest Level of Activity Since 2006; Northeast Home Sales Spiked 27.4% Last Year

January 22, 2021

WASHINGTON—Existing-home sales rose in December, with home sales in 2020 reaching their highest level since 2006, the National Association of Realtors announced today. Activity in the major regions was mixed on a month-over-month basis, but each of the four areas recorded double-digit year-over-year growth in December. Total existing-home sales, completed transactions that include single-family homes,…

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Realtors Overcame Pandemic Restrictions To Post Significant Sales Increases in 2020

January 21, 2021

WHITE PLAINS—Realtors in the Hudson Gateway Association of Realtors’ market area that includes the lower Hudson Valley region, adapted to state-imposed restrictions early in the pandemic and rode the wave of pent-up buyer demand to post sales increases as compared to 2019 activity. Sales in Westchester, Rockland, Orange, Sullivan and Putnam counties soared in the…

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A Quarter Century of Home Sales Market Coverage

January 20, 2021

From the Archives: For 25 years, Real Estate In-Depth has covered the region’s home sales market. For example, the newspaper reported in 2002 the Westchester average single-family home price broke the $500,000 barrier for the first time. Five years later, the housing market saw home sales decline 13%, a precursor to the recession that followed.

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NJ Brokerage Merges with Howard Hanna Rand Realty

January 15, 2021

ENGLEWOOD CLIFFS, NJ—Locally-based Plawker Real Estate, one of Bergen County’s leading brokers, recently announced that it has joined forces with real estate brokerage firm Howard Hanna Rand Realty. The Plawker Real Estate office at 601 Palisade Ave. in Englewood Cliffs will now operate as Howard Hanna Rand Realty – Plawker Group. Additionally, the Plawker Commercial…

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Demolition Begins on Yonkers Public Housing Project

January 13, 2021

YONKERS—City of Yonkers officials and executives from the Municipal Housing Authority for the City of Yonkers and The Community Builders gathered on Jan. 11 for the demolition of a 1940’s era public housing apartment building that is being replaced with 178 Warburton at The Ridgeway, a new $56-million mixed-income residential complex of 81 apartment homes.…

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Gov. Cuomo Calls for Extension of Commercial Tenant Eviction Moratorium; Proposes Banning Late Fees, Penalties on Residential Leases

January 9, 2021

On Jan. 8, Gov. Andrew Cuomo said he would be proposing an extension of the commercial tenant eviction moratorium and measures geared to strengthening protections for rental apartment tenants during the coronavirus pandemic. The proposals, part of the governor’s upcoming State of the State address, will advance legislation to codify an existing Executive Order to…

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NYC Firm Pays Nearly $93M for Northern New Jersey Multifamily Property Portfolios

January 8, 2021

SADDLE BROOK, NJ—New York City-based Spaxel LLC, a multifamily developer and operator, has acquired two multifamily portfolios totaling 24 properties in Northern New Jersey for $92.5 million. The deal totaling 702 units, announced by brokerage firm Marcus & Millichap, was one of the largest 2020 multifamily sales transactions in 2020. Spaxel has a significant portfolio of…

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U.S. Department of Labor Issues Final Rule To Clarify Independent Contractor Status

January 7, 2021

WASHINGTON, DC – The U.S. Department of Labor today announced on Jan. 6 a final rule clarifying the standard for employee versus independent contractor status under the Fair Labor Standards Act. “This rule brings long-needed clarity for American workers and employers,” said U.S. Secretary of Labor Eugene Scalia. “Sharpening the test to determine who is…

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$93.5M Mixed-Use Project in Bedford Park In the Bronx Secures Construction Financing

January 5, 2021

NEW YORK—The New York State Homes and Community Renewal, New York City Department of Housing Preservation and Development and Douglaston Development announced on Jan. 5 the closing of construction financing for a 188-unit affordable senior housing development in the Bedford Park area of the Bronx. The development will include a new supermarket on the ground…

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HGAR to Celebrate 25th Anniversary of Real Estate In-Depth

December 29, 2020

WHITE PLAINS – In January 2021, the Hudson Gateway Association of Realtors will celebrate the 25th anniversary of the launch of its monthly newspaper Real Estate In-Depth with a special section in the publication’s January edition. HGAR is also acknowledging the 95th consecutive year of publishing a membership newspaper/magazine. In early 1995, based on the…

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Pasquale Joins Christie’s Real Estate in New Development Post

December 29, 2020

RAMSEY, NJ—Veteran real estate executive Gabe Pasquale has joined Christie's International Real Estate Northern New Jersey, Westchester and Hudson Valley as vice president of new development. The announcement by the firm, an exclusive partner of Christie’s International Real Estate, noted that Pasquale will draw upon his decades of industry and market experience to offer planning…

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BRI Names First Female President in 75-Year History

December 29, 2020

ARMONK—The Building & Realty Institute announced recently it has named the first female President in the institute’s 75-year history—Lisa DeRosa, president of DeRosa Builders, Inc. of White Plains. DeRosa has been active in the BRI for years. DeRosa served as a vice chair of the BRI’s Apartment Owners Advisory Council from 2016 to 2020 and…

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Gov. Cuomo Signs Bill Extending Eviction Ban Until May 1

December 29, 2020

ALBANY—After the State Legislature met in special session on Monday, Dec. 28 and the Assembly and Senate approved the bill, Gov. Andrew M. Cuomo signed the COVID-19 Emergency Eviction and Foreclosure Prevention Act of 2020 later that day. The bill (S.9114/A.11181) prevents residential evictions, foreclosure proceedings until May 1, 2021 and also prohibits credit discrimination…

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NYS Legislature Expected to Pass COVID-19 Eviction and Foreclosure Protection Act; Extends Tenant Eviction Ban Until May 1

December 28, 2020

ALBANY—The New York State Legislature is meeting today in special session to vote on and approve the COVID-19 Emergency Eviction and Foreclosure Prevention Act, which it describes as the strongest bill of its kind in the nation. The legislation will extend an eviction moratorium on residential tenants until May 1. The State Assembly and Senate…

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US Existing-Home Sales Fell 2.5% in November

December 22, 2020

WASHINGTON—Existing-home sales fell in November, snapping a five-month streak of month-over-month gains, according to a report released on Dec. 22 by the National Association of Realtors. All major regions either took a step back or held steady in terms of their respective month-over-month status, but each of the four areas experienced significant year-over-year growth. Total…

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Sen. Schumer Says New York State to Get More Than $54 Billion from COVID Stimulus

December 22, 2020

WASHINGTON—With a bipartisan spending and COVID relief deal now passed by Congress, U.S. Senator Charles Schumer detailed its pending impact on Upstate New York as more than $54 billion. The deal includes direct stimulus checks, extending enhanced unemployment insurance, and secures another round of forgivable PPP for small businesses, restaurants and nonprofits across the state.…

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