NEW YORK—The COVID-19 pandemic hit the Bronx harder than any other borough, according to an economic analysis released on June 8 by New York State Comptroller Thomas P. DiNapoli. As vaccinations rise and restrictions ease, the Bronx has begun to repair the significant economic damage caused by the coronavirus that included a nearly 25% unemployment…
Read MoreMOUNT KISCO—Locally-based Cafe Realty has teamed up with commercial, land development and luxury brokerage, McGrath Realty Inc. After eight years in business the community-focused Cafe Realty will use their strengths, talents and skills to become the new face of McGrath Realty Inc’s residential services operations, company officials stated. Café Realty will take on the new…
Read MoreNEW YORK—Penn South, an affordable housing cooperative located in the Chelsea section of Manhattan, announced on June 3 it had selected MaryAnne Gilmartin’s MAG Partners to redevelop 335 Eighth Ave. into a mixed-income apartment building with ground floor commercial space, including a grocery store. The new 200-unit building will be developed under the Affordable NY…
Read MoreMORRIS PLAINS, NJ—Howard Hanna | Rand Realty announced on June 1 the opening of its new office in Morris Plains, NJ at 374 Speedwell Ave. Company officials said the opening marked the continued expansion for the brokerage firm in the New York/New Jersey market. “Howard Hanna | Rand Realty is making a tremendous effort to…
Read MoreALBANY—New York Gov. Andrew Cuomo announced on May 25 that the state’s $2.7 billion emergency rental assistance program for struggling New Yorkers impacted by the COVID-19 pandemic will begin on June 1 when applications for funding will first be accepted. He also announced that online applications for $800-millon in small business recovery grants will be…
Read MoreWASHINGTON—Rising building materials costs and low inventory have caused new home sales prices to jump 20% on a year-over-year basis, harming housing affordability and driving down the pace of new home sales, the National Association of Home Builders reported on May 25. Sales of newly built, single-family homes fell 5.9% in April, following a significant…
Read MoreWHITE PLAINS—A host of prominent Westchester County Realtors testified in favor of a long sought-after co-op disclosure bill last night during a virtual public hearing before the Westchester County Board of Legislators. The amendments to current county law would require that co-op boards provide a reason for the denial of an application when the co-op…
Read MoreWASHINGTON—Existing-home sales waned in April, marking three straight months of declines, according to the National Association of Realtors. All but one of the four major U.S. regions witnessed month-over-month drops in home sales, but each registered double-digit year-over-year gains for April. Total existing-home sales, completed transactions that include single-family homes, townhomes, condominiums and co-ops, slipped…
Read MoreNEW YORK—Top New York real estate professionals zoomed in on the region’s luxury housing market to analyze the wave of multimillion-dollar sales, and weighed in on pricing, buying trends and prized locations at a virtual panel May 13 hosted by the Hudson Gateway Association of Realtors, Inc. and OneKey™ MLS. Hundreds of industry professionals registered…
Read MoreMIDDLETOWN—The 150-unit Crestwood Apartments multifamily property at 92 Fitzgerald Drive here has been sold for $19 million. The deal was reported by Woodbridge, NJ-based brokerage firm The Kislak Company, Inc. which did not identify the purchaser. The Real Deal reported that the buyer of Crestwood Apartments was Chestnut Ridge-based North Point Management. Last July, North…
Read MoreWASHINGTON—Realtors cite a lack of inventory as the leading cause for limiting potential clients from completing a transaction, according to the National Association of Realtors' 2021 Member Profile, an annual report analyzing members' business activity and demographics from the prior year. However, in spite of a global pandemic, its drastic impacts on how business was…
Read MoreWASHINGTON—The Urban Land Institute’s (ULI) latest Real Estate Economic Forecast released today predicts that the real estate sector is poised for a rebound, with the single-family housing sector, hotel and industrial returns forecast to strongly increase over the next three years. The report’s conclusions are based on an April-May survey of 42 economists and analysts…
Read MoreGOSHEN—Orange County Executive Steven M. Neuhaus announced on Monday that the county and the Open Space Institute are working to build a new 9.8-mile trail that will span from Camp La Guardia in the Town of Chester to the Moodna trestle in Salisbury Mills. The proposed Schunnemunk Rail Trail would be utilized by commuters, cyclists,…
Read MoreHARTSDALE—Madison, NJ-based real estate franchise Better Homes and Gardens Real Estate LLC reports that it has affiliated with locally-based brokerage firm Westchester Choice Realty Inc. The deal, BHGRE officials state fortifies its New York Metropolitan footprint. The newly named Better Homes and Gardens Real Estate Choice Realty has locations in Scarsdale and Hartsdale and serves…
Read MoreWHITE PLAINS—The Hudson Gateway Realtor Foundation recently donated $8,300 to five local charities in the Hudson Valley. They include: United Hospice of Rockland in New City; Friends of Karen in North Salem, the Community Center of Northern Westchester in Katonah, Green Chimneys in Brewster and Volunteer New York in Tarrytown. Founded in 1978, Friends of…
Read More3,367 miles is the distance between New York City and Lisbon, Portugal’s capital and biggest city with a population of a little over 500,000 inhabitants. A seven-hour direct flight connects both cities on opposite sides of the Atlantic and is an “open door” to a new way of living. Once known as “Europe’s Best Kept…
Read MoreWASHINGTON—Nearly every metro area tracked by the National Association of Realtors —99%— recorded year-over-year price increases in the first quarter of 2021, according to the latest quarterly report released by NAR yesterday. The 11 metro areas with the highest single-family home price increases saw median sales prices ranging from the $100,000s to $600,000s. Those cities…
Read MoreALBANY—New York Gov. Andrew M. Cuomo announced on Tuesday the list of projects in Peekskill that the state will fund as part of its $10-million Downtown Revitalization Initiative award granted to the Northern Westchester County city two years ago. The 12 projects in Peekskill will provide funding that will facilitate mixed-used transit-oriented development, improve pedestrian…
Read MoreGREENWICH, CT—In what the brokerage firm says is the highest waterfront residential sale so far in 2021 in Greenwich, Houlihan Lawrence reports that a more than five-acre complex at 23 Smith Road has sold for $27.75 million. Houlihan Lawrence’s Sally Maloney was the exclusive listing agent for the property on a private road in the…
Read MoreNEW YORK—HGAR’s Bronx Chapter will be holding its annual Golf & Tennis Outing this year on Monday, June 21 at The Village Club of Sands Point in Sands Point. The all-day event will honor David Diamond, owner of the Diamond Property Group, with the “Outstanding Humanitarian Award.” Diamond is the first recipient of this award,…
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