Residential

Survey: Majority of Real Estate Firms Remain Optimistic, Evolving Technology Still a Challenge

March 6, 2019

WASHINGTON—The evolving technological landscape, competition from non-traditional market participants and housing affordability continue to be among the biggest challenges facing real estate firms in the next two years, according to a report by the National Association of Realtors. NAR's 2019 Profile of Real Estate Firms released on March 6 found that commercial real estate firms…

Experts Say Westchester Natural Gas Moratorium is a Long-Term Problem

March 6, 2019

WHITE PLAINS—A real estate attorney speaking before a group of Westchester County commercial brokers said the moratorium on new natural gas connections slated to go into effect on March 15 “is here to stay.” Officials with Con Edison—the utility that is imposing the moratorium—who participated in the discussion did not disagree. More than 100 attendees…

Business Coalition Pushing Lawmakers to Fund a $500M Expansion of Route 17

March 6, 2019

ALBANY—A coalition consisting of more than 100 business, civic, political and labor industry interests are calling for New York State to spend a total of $500 million to expand the existing Route 17 in Orange and Sullivan counties. Specifically, the organization is calling for a multi-year plan to construct a third lane in each direction…

Veteran Realtor and Association Executive James G. Houlihan Passes Away at the Age of 95

March 6, 2019

James G. Houlihan, a real estate industry veteran of 69 years, who served as president of the Bronx Board of Realtors and the New York State Association of Realtors, passed away at the age of 95 on March 2. Houlihan, a longtime resident of Bronxville, NY and Palm Beach, FL, started his first job in…

Steckler Real Estate Joins Berkshire Hathaway HomeServices

February 14, 2019

WALLINGFORD, CT—Berkshire Hathaway HomeServices New England, New York and Westchester Properties reported on Feb. 13th its merger with Steckler Real Estate of Scarsdale, a long-standing Westchester County residential real estate firm, into its Eastchester and Scarsdale offices. “Westchester County is a vibrant residential real estate market,” Candace Adams, CEO and President, said. “The brokers from…

Christie’s International Real Estate Expands Into Westchester County and Hudson Valley

February 14, 2019

NEW YORK— Christie’s International Real Estate, the real estate arm of Christie’s, announced on Feb. 13th its expansion into Westchester County and the Hudson Valley in New York with Ilija Pavlovic, owner of its Northern New Jersey Affiliate Special Properties Real Estate Services. The new brokerage will operate solely under the Christie’s International Real Estate…

Meet the Sellers of the Bronx Merges with ERA Insite Realty

February 12, 2019

WHITE PLAINS—ERA Insite Realty Services, a full service, family owned and operated residential real estate firm with offices in White Plains, Bronxville, Yonkers and Pleasantville, has reported that Meet the Sellers of the Bronx has merged with the White Plains based firm. Meet the Sellers was founded and owned by broker Irene Guanill Elukowich. Louis…

International Real Estate Veteran Launches New Brokerage in Scarsdale

February 11, 2019

When he first came to the U.S. almost 20 years ago, Harry Singh had a dream of opening his own real estate brokerage. In fact, he actually incorporated Reliance America International Realty in 2007, but just recently launched the new Scarsdale agency. Originally from New Delhi, India, Singh earned his Bachelors of Commerce at a…

PSC Schedules Hearings on Con Edison Natural Gas Connection Moratorium; Approves $223M Smart Solutions Program

February 8, 2019

ALBANY—The New York State Public Service Commission has scheduled public hearings in White Plains next week to solicit public comment on the impending moratorium on new natural gas connections by utility Con Edison set to begin on March 15. The PSC will hold meetings at the White Plains Library at 100 Martine Ave. on Wednesday,…

Business Council Announces Hall of Fame Winners

February 6, 2019

RYE BROOK—The Business Council of Westchester announced on Feb. 5 the winners of its prestigious Business Hall of Fame Awards, which recognizes Westchester’s top corporate leaders. The winners will be honored at the 2019 Business Hall of Fame Awards Dinner on Tuesday, April 30 at the Glen Island Harbour Club in New Rochelle. The winners…

Westchester Looking to Have Con Edison’s Natural Gas Connection Moratorium Delayed

February 5, 2019

WHITE PLAINS—Westchester County Executive George Latimer said at a press conference on Monday the county is hopeful Con Edison will delay the implementation of its moratorium on new gas connections for most sections of the county that is set to begin on March 15. Fearing the potential dramatic impacts the moratorium could have on the…

PSC, County Holding Meetings on Con Ed New Gas Hookup Moratorium in Westchester County

January 31, 2019

WHITE PLAINS—Westchester County Executive George Latimer, along with a number of state and local officials, are scheduled to meet with Con Ed officials sometime today regarding the impending new natural gas connection moratorium set to begin in March that could impact a host of major projects in the pipeline in the county’s major cities. The…

Fed Holds Rates Steady; Promises More Patient Approach to Future Rate Hikes

January 30, 2019

WASHINGTON—In what can only be viewed as great news for Realtors and the residential real estate market, the Federal Reserve on Wednesday decided to hold rates steady and even signaled an end to what had been seen by some as an aggressive policy of raising rates. The Federal Reserve decided to maintain the federal funds…

Toll-Brothers Joint Ventures with JP Morgan on $157M Project in Harrison

January 23, 2019

HARRISON—Toll Brothers’ groundbreaking adaptive reuse of two office buildings here has a new partner and more than $100 million in construction financing. The developer reports it has formed a joint venture with New York City-based J.P. Morgan Asset Management to develop the $157 million, 421-unit Carraway luxury apartment property off Westchester Avenue in Harrison. The…

Hudson Valley Home Sales Market Remained Strong in 2018. Sales Slow Down, But Median Prices Continue to Rise in Region

January 23, 2019

WHITE PLAINS—The Hudson Valley residential sales market remained strong in 2018, despite lower sales due mainly to a lack of available inventory. In a report released earlier this month by the Hudson Gateway Multiple Listing Service, Inc., the overall five-county market serviced by HGMLS (Westchester, Rockland, Orange, Putnam and Sullivan counties) saw a 2.6% decline…

Dems Introduce Bill to Protect Fed Workers From Foreclosure, Eviction During Government Shutdown

January 21, 2019

WASHINGTON—A bill has been introduced in the U.S. Senate to protect 800,000 federal workers, including thousands across New York State, and their families, from potentially losing their homes, facing apartment eviction or falling behind on bills that could then go to collection. On the 30th day of the partial federal government shutdown, US Senator Brian…

Con Ed Imposes Natural Gas Moratorium That Could Jeopardize Westchester’s New Development Market

January 21, 2019

WHITE PLAINS—Westchester County political and business leaders are scrambling to gauge the potential economic impact of a moratorium on new natural gas connections for a majority of the county by utility Con Edison. Some fear the moratorium, to begin March 15, could all but halt several billion dollars’ worth of new development projects in the…

Appellate Court Deals Blow to Title Insurance Industry

January 17, 2019

NEW YORK—A New York State Appellate Court has overturned an earlier lower court ruling and has upheld controversial state regulations that restrict what state regulators have termed excessive marketing costs and other unscrupulous activity in the title industry. The Appellate Division, First Department, on Jan. 15 reversed a ruling last July by New York Supreme…

Yonkers IDA Approves Incentives for Three Major Projects Amid Dispute with Building Trades

January 16, 2019

YONKERS—The Yonkers Industrial Development Agency reports it has approved more than $13.6 million in incentives for three major development projects in the city. The IDA’s Board of Directors approved at its meeting last Friday resolutions of intent to provide financial incentives for two mixed-use developments and one strictly residential project totaling more than $391 million…

Houlihan Lawrence Holds Book Drive for Local Children in Need

January 9, 2019

RYE BROOK—For the fourth consecutive year, real estate brokerage Houlihan Lawrence held a holiday book drive for local children in need, gathering more than 1,000 titles for preschool to middle school-aged readers. Collection bins were placed across the firm’s network of 30 field offices in New York and Connecticut, where they were quickly filled by…