Residential

Northeast Home Sales Rise in November; Still Down Year-to-Date

December 26, 2019

WASHINGTON—Existing-home sales fell in November, taking a small step back after October’s gains, according to data released recently by the National Association of Realtors. The Northeast and Midwest both reported sales growth last month, while the South and West saw sales decline. Total existing-home sales, completed transactions that include single-family homes, townhomes, condominiums and co-ops,…

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Mid-Hudson Region Secures Nearly $66M in Regional Council Awards

December 26, 2019

ALBANY—The Mid-Hudson Regional Economic Development Council’s string of consecutive designations as a “Top Performer” in the annual Consolidated Funding Application program was halted at three years. On Dec. 19, Gov. Andrew Cuomo announced that the Mid-Hudson was not among “Top Performers” for 2019, but would still receive $65.8 million that would support a total of…

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Charity Event Raises Funds, Collects Toys for Blythedale Children’s Hospital

December 18, 2019

WHITE PLAINS—Michelle Madaffari of A Savvy Affair and Associate Real Estate Broker with Coldwell Banker held her 12th annual holiday party and toy drive for Blythedale Children's Hospital in Valhalla on Tuesday, Dec. 3 at Graziella's Restaurant in White Plains. The event collected more than 150 toys, gifts and funds for the children.

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NY State Real Estate Board Approves New Fair Housing Disclosure Rules

December 16, 2019

ALBANY—In response to recent published reports of alleged fair housing discrimination on Long Island, the Real Estate Board of New York on Dec. 16 approved new regulations for real estate professionals to help combat housing discrimination. The new regulations, which the New York State Real Estate Board approved today, mandate enhanced disclosures by real estate…

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A Conversation with Bronx Borough President Ruben Diaz Jr.

December 12, 2019

Bronx Economy Continues to Attract Significant Investment With the publication of Real Estate In-Depth’s first special section on the Bronx, we thought it appropriate that our readers learn first-hand from the borough’s chief executive—Bronx Borough President Ruben Diaz Jr.—on the state of the borough. There is a lot happening in this borough made famous by…

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Economists Say Recession Unlikely in 2020

December 12, 2019

WASHINGTON—A group of top economists arrived at a consensus 2020 economic and real estate forecast recently at the National Association of Realtors first-ever Real Estate Forecast Summit. The economists who gathered at NAR's Washington, D.C. headquarters expect the U.S. economy to continue expanding next year while projecting real estate prices will rise and reiterating that…

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Saber-PCD, Circle Squared Venture Break Ground On Rental Apartment Project Near Westchester Mall

December 9, 2019

WHITE PLAINS—Development partners Saber Real Estate Advisors LLC, PCD Development LLC, and Circle Squared Alternative Investments broke ground on Dec. 4 on “The Duet,” luxury multi-family residential complex on Hale and Maple avenues in White Plains. The development, across from the Neiman Marcus entrance at The Westchester and adjacent to Whole Foods, will feature 127…

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The Club at Briarcliff Manor Senior Living Community Opens

December 4, 2019

BRIARCLIFF MANOR—The Club at Briarcliff Manor recently welcomed its first residents to the new senior living community that features assisted living and independent living apartments and memory care. Set atop a scenic wooded site with panoramic views of the Hudson River and once home to the iconic Briarcliff Lodge, The Club at Briarcliff Manor features…

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Governor Cuomo Signs Bill Protecting Rent-Regulated Tenants From Landlord Harassment

December 4, 2019

ALBANY—New York Gov. Andrew M. Cuomo signed on Dec. 4 legislation (A.6188/S.2605) protecting rent regulated tenants from landlord harassment by preventing landlords from creating unsafe, disruptive or uninhabitable conditions in order to force tenants out of their homes. The previous law only provided protections to tenants who could demonstrate physical injury and failed to take…

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Harrison Adaptive Reuse Project in Line for Nearly $6.6M in Incentives

November 26, 2019

WHITE PLAINS—A developer that is seeking to redevelop a vacant office building into a 450-unit rental apartment complex secured a preliminary inducement of $6.57 million in mortgage and sales tax exemptions from the Westchester County Industrial Development Agency. The Westchester IDA granted the incentive package to 3 WPD Apartments LLC, an affiliate of Marcus Partners…

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New York, Connecticut and Other States File Appeal of SALT Reform Court Ruling

November 26, 2019

ALBANY—New York Gov. Andrew M. Cuomo and New York Attorney General Letitia James announced that New York, Connecticut, Maryland and New Jersey have filed a notice of appeal to the U.S. Court of Appeals for the Second Circuit to continue litigation against the federal government for what they term as the unlawful and unprecedented cap…

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Mill Creek Residential Acquires The Peaks of Nanuet for $180M

November 26, 2019

NANUET—Mill Creek Residential Trust of Boca Raton, FL and an unnamed partner have acquired the 504-unit The Peaks of Nanuet apartment community here in what is believed to be a record deal in Rockland County. The firm purchased the property from a partnership of New York City-based Harbor Group International and Azure Partners. The deal…

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Global R.E. Summit, NYC 2019, Nov. 4, 2019

November 22, 2019

Dorothy Botsoe, Dorothy Jensen Realty Inc.   Mitch Roschelle, Partner, PwC Dean Foster, Founder DFA Intercultural Global Solutions, LLC, President, Dean Foster Global Cultures Luciane Serifovic, CEO & Founder, Luxian International Realty Global Market Highlights Panel: Federico Ranuzzi de'Bianchi, Principal Broker, Ranuzzi & Giordani Real Estate Agency; Raj Rajpal, Mortgage Consultant, Wells Fargo Home Mortgage;…

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Global Economic Instability Drives Investors to US Real Estate

November 19, 2019

NEW YORK—In an informative, yet concise overview of the recently released ULI “Emerging Trends in Real Estate 2020” report, author Mitch Roschelle, partner with PwC, offered some heartening insights to attendees of the Global Real Estate Summit 2019 Conference and Expo as to why the US real estate market remains a favorite with foreign and…

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Westchester County Launches New ‘Catalyst’ Website

November 18, 2019

WHITE PLAINS—The Westchester County Office of Economic Development launched on Nov. 14 what it termed is a new and dynamic website called "The Catalys" to position Westchester County as the place to live, work and visit. The Catalyst website—Westchestercatalyst.com —is a total departure from the current site and reflects the Office of Economic Development’s new Catalyst…

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RXR Realty Begins Ground-Up Construction Of 28-Story New Rochelle Apartment Tower

November 18, 2019

NEW ROCHELLE—RXR Realty, the master developer for the City of New Rochelle’s downtown district, recently hosted a groundbreaking ceremony for the start of ground-up construction of a new 28-story development at 26 South Division St. here. The Oct. 30th event marked the launch of construction of the first of two projects being undertaken at the…

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