Residential

Westchester IDA Grants Preliminary Approvals For Renovations of Affordable Housing Projects

October 6, 2020

WHITE PLAINS—The Westchester County Industrial Development Agency recently granted preliminary approval of $912,062 in financial incentives for the renovation of two affordable housing developments in Mount Vernon and Tarrytown. The two projects comprise a total of 250 units of affordable housing. The IDA Board gave preliminary approval of $653,672 of financial incentives and $27.5 million…

Houlihan Lawrence Announces New Executive Leadership Team

September 30, 2020

RYE BROOK — Houlihan Lawrence, formally announced on Sept. 30 that its current president, Liz Nunan, has also assumed the role of Chief Executive Officer of the 1,300-agent firm. The residential brokerage firm has also welcomed John Canniffe, who recently served as the head of the Residential Listing Service at REBNY, as Chief Operating Officer.…

Hudson Gateway Association of Realtors Officially Concludes Merger Deal with Bronx-Manhattan North Assoc. of Realtors

September 30, 2020

NEW YORK—At a press conference staged outside the Castle Hill YMCA today, officials with the Hudson Gateway Association of Realtors and the Bronx-Manhattan North Association of Realtors celebrated the official merger of the two organizations. Eliezer Rodriguez, CEO of the former BMNAR, officiated the festivities that included speeches by a host of Bronx dignitaries, HGAR…

Rand Realty Forms Partnership with Howard Hanna Realty

September 30, 2020

NANUET—One of the largest residential brokerage firms in the Hudson Valley region has formed a new partnership with Howard Hanna Real Estate Services that significantly expands Howard Hanna Real Estate’s presence in Downstate New York State. The deal was announced today by Marsha Rand, founder and President of Rand Realty, and Helen Hanna Casey, CEO…

Existing US Home Sales Reach Highest Point Since December 2006

September 23, 2020

WASHINGTON—Confirming what many Hudson Valley residential brokers have seen since the COVID-19 restrictions were lifted, the National Association of Realtors reported that the US existing home sales market is very hot. NAR reported that home sales in August were the highest in nearly 14 years (December 2006). Existing-home sales continued to climb in August, marking…

Haverstraw Issues RFEI to Developers For Long-Vacant Waterfront Parcel

September 21, 2020

HAVERSTRAW—The Village of Haverstraw is taking a significant step in developing a long vacant and underutilized downtown waterfront parcel with the issuance of a Request for Expressions of Interest to development firms. The village, which issued the RFEI today, is hoping to find a developer that will embrace its vision of developing a mixed-use project…

Westchester Rolls Out Comprehensive COVID Aid Program To Help Suffering Homeowners, Tenants and Landlords

September 18, 2020

WHITE PLAINS—Westchester County has rolled out four distinct housing assistance programs that are being funded by HUD and the CARES Act geared to offering a comprehensive approach in dealing with the economic and social impacts of the COVID-19 pandemic. Westchester County Executive George Latimer announced the “Community Build Back Program” on Sept. 17 that includes…

Yonkers IDA Grants Preliminary Approval For $72-Million Apartment Development

September 18, 2020

YONKERS—The Board of Directors of the Yonkers Industrial Development Agency recently granted preliminary approval of financial incentives for a $72-million multifamily project that will redevelop a blighted and vacant block in the Warburton Ravine Urban Renewal Area. Point & Ravine Apartments, which is a public partnership between developer Conifer Realty LLC and the City of…

Hudson Valley Home Sales Market in Full Recovery; In Midst of Pandemic, Record Sales Volume Projected

September 16, 2020

WHITE PLAINS—While the third quarter 2020 residential sales numbers will not be released by OneKey MLS until next month, the consensus from Realtor executives is that thanks to the resiliency of real estate professionals throughout the region, the Hudson Valley home sales market is on a torrid pace to perhaps shatter sales records. The pent-up…

The New York Botanical Garden, Douglaston Ink Two Long-Term Ground Leases for Mixed-Use Affordable Projects in the Bronx

September 14, 2020

NEW YORK—Finalizing a deal announced earlier this year, The New York Botanical Garden and Douglaston Development have closed two separate 99-year ground leases at 2856 Webster Ave. and 410 Bedford Park Blvd. in the Bronx that will in a few years feature affordable housing projects totaling more than 400 units. New York City-based Douglaston states…

WRO Online Fundraiser to Go Live on Sept. 26

September 10, 2020

WHITE PLAINS—Westchester Residential Opportunities’ (WRO) online (Facebook) Auction is about to go live! Get a sneak peek at some of the wonderful auction items—bicycles, golf clubs, jewelry, artwork and so much more! Starting bids as low as $10. The auction will go live September 26 – October 3. The highest bidder and the item donator…

Construction Starts on $51 Million Affordable Project in Peekskill

September 10, 2020

PEEKSKILL—Ground was officially broken on Sept. 9 at Wilder Balter Partners’ $51-million affordable housing project at 645 Main Street in Downtown Peekskill. A host of state, county and city luminaries were on hand for the event signaling the ceremonial start of construction of the 82-unit development. The new affordable complex is reserved for households earning…

Orange County Housing Market is Hot, Despite COVID Pandemic

September 9, 2020

We are the talk of the towns—the Orange County real estate market is hot! Our Orange County region recently closed out July 2020 with a median sale price of $330,000 for single-family Residential homes. Our August median sale price was a very close $329,900. We have not seen a median sale price in Orange County…

Joseph Rand Named Executive Director Of Broker Public Portal with Homesnap

September 9, 2020

ARROYO GRANDE, CA—The Board of Managers of the National Broker Portal, a joint venture between Broker Public Portal (BPP) and Homesnap, announced on Sept. 9 that Joseph Rand of Better Homes and Gardens Real Estate|Rand Realty of Nanuet has been named executive director of the Broker Public Portal with Homesnap. Rand will remain the Chief…

Rand Predicts Record Home Closings in September Regionwide

September 4, 2020

NANUET—While the third quarter 2020 residential sales numbers will not be released by OneKey MLS until next month, Better Homes and Gardens Rand Realty executive Joseph Rand in a sneak preview said the region is currently enjoying a very robust sales market. “The (sales) surge continues,” Rand said. He noted that in August, new deals…

Construction Begins on 303-Unit Apartment Project in White Plains

September 1, 2020

WHITE PLAINS—In some good news in the times of COVID-19 for the Westchester County economy, The NRP Group announced on Aug. 31 it had broken ground on a new community of 303 market-rate apartments along the I-287 corridor in White Plains. Situated on a 70-acre site at 1133 Westchester Ave. that previously served as the…

Legends Realty Joins Expanding Corcoran Group

September 1, 2020

TARRYTOWN—Legends Realty, after nearly 10 years as an affiliate of William Raveis Real Estate, has joined the growing The Corcoran Group, LLC. The brokerage firm, which has locations in Tarrytown, Briarcliff Manor and Irvington, now operates as Corcoran Legends Realty. The launch of the Legends affiliate was announced today virtually by The Corcoran Group President…

City of Newburgh Issues RFP for Iconic ‘City Club Building’

August 27, 2020

NEWBURGH—While Orange County is in the midst of a solicitation for two storied properties on Grand Street here, the City of Newburgh has issued a Request for Proposals on Aug. 24 for developers to redevelop the iconic City Club Building at 120 Grand St. The Mayor’s Strategic Economic Development Advisory Committee, in coordination with the…

R2M Realty Set to Open Branch Office in Pearl River

August 27, 2020

NYACK—Locally-based R2M (Ready to Move) Realty is putting the finishing touches on its new branch location at 42 East Central Ave. in the heart of Pearl River that will open its doors next month. Broker/Owner Kenyatta Jones-Arietta told Real Estate In-Depth that a planned soft opening for the new office is scheduled for Thursday, Sept.…

After Broad Industry Criticism, FHFA Delays Controversial Refi Loan Fee

August 26, 2020

WASHINGTON—A little over a week after first proposing a controversial 0.5% Adverse Market Refinance Fee on Fannie Mae and Freddie Mac loans, the Federal Housing Finance Agency announced on Aug. 25 that it would delay the fee’s implementation until Dec. 1, 2020. The FHFA first announced the Adverse Market Refinance Fee on Aug. 12 and…