Residential

NYCHA and HPD Finalize Deal to Build $60M Bronx Affordable Housing Project

September 29, 2021

NEW YORK—The New York City Housing Authority and the New York City Department of Housing Preservation and Development reported on Sept. 28 they had finalized a $60-million deal that will bring 101 new affordable apartments to the Mott Haven neighborhood of the Bronx. Construction on the 101-unit Betances Family Apartments building at a site of…

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Longtime and Respected Association CEO P. Gilbert Mercurio Passes Away

September 28, 2021

WHITE PLAINS—A man who for more than three decades was a driving force behind the growth and growing respect of the Westchester County Board of Realtors has died. P. Gilbert Mercurio, who led the Westchester County Board of Realtors and its successor organization the Westchester Putnam Association of Realtors for 31 years as its chief…

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Howard Hanna |Rand Realty Announces Changes to the New York Executive Team

September 28, 2021

NANUET—Howard Hanna | Rand Realty announced yesterday changes to the New York executive team that the company states are geared to creating “a stronger foundation and support in the career of its agents.” Renee Zurlo has been named General Manager of New York. Zurlo has been working for more than 12 years for the Rand…

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Construction Completed on $43-Million Affordable Housing Development in Yonkers

September 24, 2021

YONKERS—New York Gov. Kathy Hochul announced on Sept. 23 the completion of the Dayspring Campus, a $43-million development with 63 affordable and supportive apartments and a newly renovated community center in Southwest Yonkers. Financed with more than $20.6 million in assistance from state Homes and Community Renewal, the development includes 37 apartments reserved for homeless…

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The Orange County Real Estate Market Continues to Soar

September 22, 2021

Have you ever had that uncanny sensation where you’re experiencing something that you had said or done before? As I began to write this article, I was about two paragraphs in, and suddenly felt that strange feeling of déjà vu. I was reading my words and hearing something in my mind that was just so…

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Westchester County Executive Latimer Cuts Ribbon On Redevelopment of Former WestHELP Facility

September 15, 2021

GREENBURGH—On Sept. 14, Westchester County Executive George Latimer cut the ribbon on the Mayfair Apartments in Greenburgh. The completed project involved the redevelopment of the former WestHELP Greenburgh Homeless Shelter on the Westchester Community College Campus built in the 1980s into 74 units of affordable rental housing for seniors aged 62 and older. The project…

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Student Loan Debt Holding Back Majority of Millennials from Homeownership

September 15, 2021

WASHINGTON—Sixty percent of non-homeowning millennials say student loan debt is delaying their ability to buy a home, by far the most affected population, according to a new poll released on Sept. 14 by the National Association of Realtors. The findings also show that Americans burdened with high student debt see the impact on their daily…

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WRO, City of White Plains Awarded HUD Fair Housing Program Funding

September 9, 2021

WASHINGTON - The U.S. Department of Housing and Urban Development announced earlier this month it had awarded $47.4 million to fair housing organizations across the country under its Fair Housing Initiatives Program. The grants will support the efforts of 120 national and local fair housing organizations working to address violations of the Fair Housing Act…

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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…

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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…

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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…

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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…

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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…

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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…

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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.…

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