WHITE PLAINS—New York City-based Valley National Bancorp and The Westchester Bank Holding Corporation announced on June 28 they had entered into a definitive merger agreement whereby Valley will acquire Westchester, parent company of The Westchester Bank. The acquisition of this high-performing commercial bank will provide Valley a physical footprint and additional commercial lending expertise in…
Read MoreBRONXVILLE—A 110-unit multifamily property built more than two decades ago here has been acquired by a fund managed by New York City-based Goldman Sachs Asset Management. Goldman Sachs acquired Avalon Bronxville, which was built and renovated in 2012 by owner AvalonBay Communities for an undisclosed price. Avalon Bronxville, which is located adjacent to the Metro…
Read MoreNEW YORK—Jonathan Rose Companies, L+M Development Partners and Acacia Network announced on June 29 the closing of $223 million in financing for the second and final phase of Sendero Verde, a 100% affordable mixed-use Passive House and Enterprise Green Communities certified development in East Harlem. The development will feature 709 units of affordable housing, community…
Read MoreWHITE PLAINS—The Westchester County Board of Legislators in a 15-2 vote last night approved an amendment to the existing Co-Op Disclosure Law that now requires a cooperative Board of Directors to provide a reason for a denial of an applicant seeking to purchase a unit at their property. The measure went into effect immediately as…
Read MorePORT CHESTER—A host of business leaders were on hand for a press conference on June 24 to officially introduce the “Welcome Home Westchester” campaign, a multi-stakeholder effort to address the housing issue that has reached a crisis point over the past several years. The “Welcome Home Westchester'' campaign combines several companies involved in the home…
Read MoreSLEEPY HOLLOW—International real estate firm Hines reported on June 24 it had topped off its NorthLight at the Edge-on-Hudson development being built at the former General Motors minivan assembly plant site on the shores of the Hudson River here. The new apartment community will bring 246 rental apartments to a vibrant mixed-use neighborhood. NorthLight is…
Read MoreWASHINGTON— Existing-home sales decreased for a fourth straight month in May, according to the National Association of Realtors. Only one major U.S. region recorded a month-over-month increase, while the other three regions saw sales decline. Sales in the Northeast slid 1.4% in May. While sales declined, each of the four areas again registered double-digit year-over-year…
Read MoreWHITE PLAINS— With mortgage rates near all-time lows and significant pent-up demand, will New York’s residential real estate market favor sellers through 2021 and beyond? Real estate experts weighed in on what’s in store for the housing market and how agents can close deals from the East End to the West Side and all throughout…
Read MoreWHITE PLAINS—Decades of advocating for strong laws to promote co-op disclosure in order to prevent housing discrimination by cooperative boards may finally bear fruit later this month for members of the Hudson Gateway Association of Realtors and the consumers they represent. The Westchester County Board of Legislators at its meeting on June 28 is expected…
Read MoreBALDWIN PLACE—On June 9, Keller Williams Realty Partners finally hosted a Grand Opening celebration for its brand-new office in Baldwin Place at 57 U.S. Route 6. Keller Williams Realty Partners had moved into their new space in late 2019 with a plan to host a Grand Opening in the spring of 2020. That plan was…
Read MorePOMONA—Harbor Group International, LLC, which is headquartered in Norfolk, VA, has acquired The Henry, a 169-home luxury apartment community in Pomona, for $54 million. Commercial brokerage firm CBRE reported the sale on June 16. The CBRE team of Jeffrey Dunne, Gene Pride, Jeremy Neuer, Steve Bardsley, David Gavin and Travis Langer represented the seller, a…
Read MoreFrom sprawling Long Island Sound estates to stately Hudson River manors, to expansive rural retreats, the Hudson Valley is home to some of the most breathtaking luxury properties in New York and the nation. But, this time of year, when people begin to think about where to escape for the summer, inevitably, the Hamptons come…
Read MoreNEW YORK—Top New York real estate professionals zoomed in on the region’s luxury housing market to analyze the wave of multimillion-dollar sales, and weighed in on pricing, buying trends and prized locations at a virtual panel recently hosted by the Hudson Gateway Association of Realtors, Inc. and OneKey MLS. All agreed the luxury markets in…
Read MoreWHITE PLAINS—Construction continues on the premier independent living community project Waterstone of Westchester in Downtown White Plains. The development for those 62 and older will feature first-class amenities, 132 residences and supportive services on a parcel on Bloomingdale Road. Waterstone of Westchester is scheduled to open in the first quarter of next year. Waterstone Executive…
Read MoreTARRYTOWN—A host of state, county and local dignitaries were on hand on June 9 for the groundbreaking for 62 Main, a $53-million affordable housing development in the village of Tarrytown that involves the adaptive reuse of the historic YMCA facility. The development will also entail the construction of an additional building to create 109 affordable…
Read MoreNEW YORK—The COVID-19 pandemic hit the Bronx harder than any other borough, according to an economic analysis released on June 8 by New York State Comptroller Thomas P. DiNapoli. As vaccinations rise and restrictions ease, the Bronx has begun to repair the significant economic damage caused by the coronavirus that included a nearly 25% unemployment…
Read MoreMOUNT KISCO—Locally-based Cafe Realty has teamed up with commercial, land development and luxury brokerage, McGrath Realty Inc. After eight years in business the community-focused Cafe Realty will use their strengths, talents and skills to become the new face of McGrath Realty Inc’s residential services operations, company officials stated. Café Realty will take on the new…
Read MoreNEW YORK—Penn South, an affordable housing cooperative located in the Chelsea section of Manhattan, announced on June 3 it had selected MaryAnne Gilmartin’s MAG Partners to redevelop 335 Eighth Ave. into a mixed-income apartment building with ground floor commercial space, including a grocery store. The new 200-unit building will be developed under the Affordable NY…
Read MoreMORRIS PLAINS, NJ—Howard Hanna | Rand Realty announced on June 1 the opening of its new office in Morris Plains, NJ at 374 Speedwell Ave. Company officials said the opening marked the continued expansion for the brokerage firm in the New York/New Jersey market. “Howard Hanna | Rand Realty is making a tremendous effort to…
Read MoreALBANY—New York Gov. Andrew Cuomo announced on May 25 that the state’s $2.7 billion emergency rental assistance program for struggling New Yorkers impacted by the COVID-19 pandemic will begin on June 1 when applications for funding will first be accepted. He also announced that online applications for $800-millon in small business recovery grants will be…
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