Residential

Fannie Mae: Consumers Slightly More Optimistic About Homebuying Conditions for First Time Since March

September 9, 2021

WASHINGTON—The Fannie Mae Home Purchase Sentiment Index released on Sept. 7 was largely unchanged in August, decreasing 0.1 points to 75.7, as survey respondents tempered both their recent pessimism about homebuying conditions and their upward expectations of home price growth. Overall, three of the index’s six components increased month over month, while the other three…

Business Council Issues Recommendations For County to Spend $188M in COVID Funds

September 9, 2021

WHITE PLAINS—The Business Council of Westchester’s Economic Recovery Task Force has issued a number of far-reaching recommendations to Westchester County on how to spend approximately $188 million in federal funding from the American Rescue Plan to help foster economic development and continued recovery from the coronavirus. The report issued on Sept. 8 included hundreds of…

Gov. Hochul Signs Bill Extending COVID-Related Eviction Moratorium in NY Until Jan. 15, 2022

September 2, 2021

ALBANY—Gov. Kathy Hochul signed into law on Sept. 2 a new moratorium on COVID-related residential and commercial evictions for New York State which will be in effect until Jan. 15, 2022. The moratorium extension is now in the courts as a major landlord association has filed suit against the new law. Under the new law, all…

Home Services of America Acquires BHHS Hudson Valley Properties Brokerage Firm

September 1, 2021

MINNEAPOLIS— HomeServices of America, Inc., a Berkshire Hathaway affiliate, announced today it had acquired Berkshire Hathaway HomeServices Hudson Valley Properties, which is headquartered in LaGrangeville in Dutchess County. The firm has been servicing the Mid-Hudson Valley market for the past 29 consecutive years. Hudson Valley Properties will join the Berkshire Hathaway HomeServices New England Properties…

Westchester LDC Approves up to $400 Million in Bonding for Purchase College Senior Project

August 27, 2021

WHITE PLAINS—Due to rising construction costs, The Board of Directors of Westchester County’s Local Development Corporation (LDC) voted on Aug. 24 to approve a developer’s application to amend the LDC’s previous preliminary approval of tax-exempt bond financing for the development of a senior learning community on the SUNY Purchase campus. The LDC Board approved increasing…

Breaking News: Westchester IDA Approves Incentives for Projects Valued at $755 Million

August 26, 2021

WHITE PLAINS—The Westchester County Industrial Development Agency this morning in a session that lasted less than 12 minutes, voted to grant incentives totaling $14.7 million to two major projects in Greenburgh and White Plains valued at a combined total of $755 million. The IDA Board unanimously (5-0) approved granting $7.7 million in sales tax incentives…

White Plains Hospital Pays $38M for Post Road Development Site

August 25, 2021

WHITE PLAINS—A nearly five-acre development site on Post Road in White Plains has been acquired by the ever-expanding White Plains Hospital for $38 million. The deal for the former site of the Scholz car dealership at 77 W. Post Road was announced by commercial brokerage firm CBRE. The seller of the property is a partnership…

Gov. Hochul Seeks School Worker Vaccination Mandate, Universal Masking at Schools, Quicker COVID Aid and Change in Culture in Albany

August 24, 2021

ALBANY—In what was the culmination of a tumultuous two weeks in Albany, Gov. Andrew Cuomo officially resigned at midnight this morning and a short time later, Lt. Gov. Kathy Hochul became the first woman governor in the history of New York State. The newly installed governor wasted no time in outlining her highest priorities: combating…

NAR: U.S. Existing-Home Sales Climbed 2% in July; Northeast Sales Were Flat

August 24, 2021

WASHINGTON—Existing-home sales rose in July, marking two consecutive months of increases, the National Association of Realtors reported on Aug. 23. Three of the four major U.S. regions recorded modest month-over-month gains, and the fourth remained level. Figures varied from a year-over-year perspective as two regions saw gains, one witnessed a decline and one was unchanged.…

Yonkers IDA Approves Incentives for Two Projects Totaling $129 Million in Private Investment Capital

August 23, 2021

YONKERS—The Yonkers Industrial Development Agency has announced that its Board of Directors voted at its August 17th meeting final approval of financial incentives for two new residential development projects—Horizon at Ridge Hill and Hudson Hill. The two projects represent a total private investment of approximately $129 million and are expected to create 183 construction jobs.…

Delayed Major Multifamily Project in White Plains Secures $182M in Financing

August 23, 2021

WHITE PLAINS—Pacific Western Bank and Square Mile Capital Management have together provided $181.91 million in funding for the redevelopment of the former AT&T building in Downtown White Plains into a multifamily housing development. The project includes the redevelopment of a vacant office building at 440 Hamilton Ave. to become a 13-story Class A multifamily building,…

The New Manhattan

August 19, 2021

Despite the recent uptick in Delta variant COVID cases in the New York metro area, New York City is essentially open for business. Most Broadway theaters are reopening in September, restaurants and bars are now allowing vaccinated patrons to dine indoors and the residential real estate market is back in full swing. New developments are…

Christie's International RE Opens New Office in Nyack

August 19, 2021

NYACK—Christie's International Real Estate Westchester | Hudson Valley recently announced the opening of its new, state of the art sales gallery in Nyack, as part of the company’s ongoing expansion in the southern New York region. The new sales gallery is located in a prime location at 2-4 Franklin St. Christie’s has experienced great success…

Five Questions With Bess Freedman, CEO, Brown Harris Stevens

August 19, 2021

During the COVID-pandemic, Brown Harris Stevens Chief Executive Officer Bess Freedman has participated in several webinars hosted by the Hudson Gateway Association of Realtors and OneKey MLS and offered some frank assessments of market conditions, as well as her views on lockdowns and tax policies and their impacts on the market. In preparing for this…

Keller Williams Realty: First in NY Opens New Office in Newburgh

August 12, 2021

CHESTER—Locally-based Keller Williams Realty: First in New York reported that its new office in Newburgh has launched operations recently, the result of the firm’s prior acquisition of the top-producing “Licensed2Sell Team,” which consists of eight agents led by veteran Realtors Dickie Baxter and Vinny Reda. The firm’s new office is located at 254 Route 17K,…

WRO Files Housing Discrimination Complaint Against Upstate Apartment Management Firm

August 12, 2021

WHITE PLAINS— Westchester Residential Opportunities, Inc., a non-profit fair housing agency based in White Plains, announced on Aug. 11 it had filed a housing discrimination complaint against Albany-based Dawn Homes Management and DHM Properties, the manager and owner of at least 36 apartment buildings in New York, Massachusetts and Connecticut. The complaint, filed with the…

Incoming NY Gov. Kathy Hochul Looks to Turn the Page

August 12, 2021

ALBANY—Lt. Gov. Kathy Hochul in a press conference yesterday stressed that she will be ready to take over as the 57th governor of New York when she takes the oath of office later this month. Hochul, who is scheduled to take over as governor on Aug. 24, stressed, “I am ready for this,” and later…

Westchester County Executive Latimer, HGAR Make Case for Robust Housing Market

August 6, 2021

WHITE PLAINS— At a press conference yesterday afternoon, Westchester County Executive George Latimer attempted to dispel the online myth that many people are fleeing the county. To prove his point, he enlisted key representatives of the Hudson Gateway Association of Realtors who, armed with the latest sales data from OneKey MLS, noted that demand from…

William Raveis Real Estate Acquires Sarasota, FL Firm

August 5, 2021

SHELTON, CT—William Raveis Real Estate, Mortgage & Insurance has acquired Sarasota, FL-based Key Solutions Real Estate, a leading luxury and family-owned brokerage with 44 professional sales associates, effective on Aug. 2. Key Solutions’ offices on Siesta Key and in Lakewood Ranch will reopen under the William Raveis Real Estate luxury brand. The acquisition marks WRRE’s…

BHHS NY Properties Names Diane Ramirez Chief Strategy Officer

August 4, 2021

NEW YORK—Berkshire Hathaway HomeServices New England/ Westchester/New York Properties announced on Aug. 3 that Diane Ramirez has been named Chief Strategy Officer of its New York City brokerage. Ramirez was most recently the executive chairman and senior advisor of Brown Harris Stevens, as well as the co-founder of Halstead. In her new role, Ramirez will…