Residential

Senate Majority Advances Housing Discrimination Legislative Package

February 8, 2021

ALBANY—The leadership of the State Senate Democratic Majority announced on Feb. 8 it will advance major legislation to continue addressing housing discrimination across New York State. The legislative package was created following two public hearings on housing discrimination that included 25 subpoenas. The package of bills is also in response to legislative suggestions outlined in…

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NYC Brokerage Firm Triplemint Expands to Westchester County

February 3, 2021

NEW YORK—New York City-based residential brokerage firm Triplemint reported on Feb. 3 it had expanded its operations to Westchester County with the defection of a number of Douglas Elliman agents. Triplemint reported that the Berkowitz Marrone Team led by Owen Berkowitz and Carol Marrone, who were the founding members of Douglas Elliman Westchester, have joined…

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SALT Cap Repeal Bill Introduced in Congress

January 29, 2021

WASHINGTON—U.S. Reps. Mondaire Jones (D-NY), Tom Suozzi (D-NY) and U.S. Senate Majority Leader Charles Schumer on Thursday introduced the SALT Deductibility Act that would remove the $10,000 cap on state and local tax deductions imposed in 2017 under the federal tax reform law. The SALT Cap was highly criticized by New York politicians, as well…

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C.S. McClellan Partners with Compass Real Estate

January 29, 2021

PELHAM—Compass, the real estate technology company, announced recently a new partnership with C.S. McClellan Real Estate, led by Sona Davidian, who maintains the boutique firm's total ownership. Founded in 1878 by the McClellan family, Davidian has owned C.S. McClellan since 1989, when she purchased it directly from the McClellan family. The company has a rich…

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NJ Developer Proposes Redevelopment of Former Kmart-Anchored Center in Yorktown

January 28, 2021

YORKTOWN—A New Jersey-based real estate development firm has unveiled plans to reposition a mostly vacant shopping center that was anchored by Kmart and Food Emporium here into a new mixed-use development that will feature 150 rental housing units and ground-floor retail. The plan by Oster Properties of Englewood Cliffs, NJ was presented for the first…

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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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