ALBANY—Gov. Andrew Cuomo on June 14 signed a controversial rent reform and tenant protection legislative package passed earlier in the day by the State Assembly and Senate that was vehemently opposed by many real estate trade groups across the state. While the Housing Stability & Tenant Protection Act of 2019 is being hailed as historic…
Read MoreEASTCHESTER—A Savvy Affair’s Ninth Annual Benefit for Autism Speaks was held at Mulino’s at Lake Isle on Thursday May 16th. At the event, A Savvy Affair also celebrated its 10th year of hosting events, and fundraisers throughout Westchester and New York City. Michelle Madaffari, who is the CEO of A Savvy Affair Inc, is an…
Read MoreWHITE PLAINS—The Westchester County Office of Economic Development is urging businesses, organizations and municipalities to attend informational workshops being held this month to learn more about funding opportunities in the next round of the Mid-Hudson Consolidated Funding Application (CFA). The Westchester County Office of Economic Development will hold a series of informational sessions throughout Westchester…
Read MoreNEW YORK—With hurricane season now underway, Con Edison reported on June 11 that it is expanding its efforts to partner with Westchester homeowners in a pilot program to identify and remove damaged and diseased trees on their property that could threaten power lines during storms. The trees, identified by certified arborists as presenting a potential…
Read MoreWHITE PLAINS—The National Association of Hispanic Real Estate Professionals officially launched its Westchester County Chapter recently with a kick-off party at an office rooftop in White Plains. The event drew more than 150 people and included special guest Chef Barret Bayer of the “Hell’s Kitchen” and “Million Dollar Listing” TV shows. NAHREP currently has more…
Read MoreALBANY—The affordable housing crisis continues in New York State, according to a report released on June 6 by New York State Comptroller Thomas DiNapoli. The report stated that nearly 1.4 million households paid half or more of their income in 2017 towards housing costs. “The high cost of housing can force some New Yorkers to…
Read MoreNEW CITY— In a move that shakes up economic development efforts in Rockland County, County Executive Ed Day announced on May 31st he had hired Jeremy Schulman as the county’s new Director of Economic Development and Tourism. Schulman, who began his new county post on June 4, served as CEO and president of the Rockland…
Read MoreYONKERS—Yonkers Mayor Mike Spano recently joined with officials from the Municipal Housing Authority of the City of Yonkers (MHACY) for a tour of two affordable housing complexes that have or will receive more than $100 million in renovations. The tour, which was held on May 31, included the William A. Walsh Homes at 75 Walsh…
Read MoreNEW ROCHELLE—Real estate development firm YoungCraft announced on June 4 that CVS Pharmacy signed a multi-year lease for 13,200 square feet of retail space at “The Rockwell,” the company’s mixed-use project currently under construction on North Avenue here. CVS will re-locate its current store at 625 North Ave., down the block to the brand-new “Rockwell”…
Read MoreNEW YORK—A recently published report by Bloomberg News reveals some unsettling news for New York State businesses and the real estate industry here. The report, an analysis by Bloomberg of state-to-state moves based on data from the Internal Revenue Service and the U.S. Census Bureau, shows that New York and Connecticut are losing billions in…
Read MoreALBANY—New York’s Industrial Development Agencies provided a total of $751 million in net tax exemptions for local economic development projects in 2017, an increase of more than 5% from the previous year, according to a report issued on May 29 by New York State Comptroller Thomas P. DiNapoli. The Mid-Hudson ($175 million) and Long Island…
Read MoreNEW YORK—State officials announced on May 29 the completion of the $160-million rehabilitation and refinancing of the Michelangelo Apartments, a 494-unit Mitchell-Lama affordable housing development in the Melrose section of the Bronx. Michelangelo Apartments was originally built in 1975 and contains four towers with 80 studios, 126 one-bedroom, 191 two-bedroom, 77 three-bedroom and 20 four-bedroom…
Read MoreNEW YORK—Top real estate experts joined event sponsors the Hudson Gateway Association of Realtors and RISMedia at “The State of Real Estate Data in NYC” on May 20 to discuss the importance of accurate data in residential listings and the need for a unified system. Richard Haggerty, CEO of HGAR and president of the New…
Read MoreYONKERS—Strategic Capital, the investment arm of China Construction America, recently hosted an exclusive ribbon-cutting ceremony for the River Club at Hudson Park luxury rental apartment tower on the Hudson River waterfront here. The ceremony was attended by Ning Yuan, CCA Chairman and President and Strategic Capital Chairman and CEO; Huang Ping, Consul General of China…
Read MoreWHITE PLAINS—The data keeps indicating that the changes to the SALT deduction (cap of $10,000 on state and local tax deductions) imposed by the federal tax reform law is having an impact on some segments of the housing market in the area. The latest statistics that seem to back up that theory come from the…
Read MoreWHITE PLAINS—The development community in Westchester County is being forced to adapt to a new norm—a moratorium on new natural gas connection hookups imposed by utility Con Edison on March 15. Thus far, there have been no reports of developers walking away from their projects in the county due to the imposition of the moratorium.…
Read MoreJoseph Rand, the chief creative officer for Better Homes and Gardens Real Estate | Rand Realty, has just published his latest book, “How to be a Great Real Estate Agent.” In it, he discusses how agents can build their business by becoming better at their actual jobs. REID: One of the main points in your…
Read MoreNEW YORK—Starwood Capital Group announced on May 9 that an affiliate had reached an agreement to develop a 147,000 square-foot mixed-use facility in a designated Opportunity Zone in the South Bronx. The 10-story development, located at 425 Westchester Ave., will be anchored by a PK-8 charter school and include office space for a non-profit organization…
Read MoreALBANY—Approximately 60 members of the Hudson Gateway Association of Realtors traveled to Albany on Tuesday, May 7 to join hundreds of Realtors from across the state and present the real estate association’s 2019 legislative priorities to state lawmakers that represent Assembly and Senate districts in the Hudson Valley and New York City. Tops on the…
Read MoreYONKERS—Yonkers Mayor Mike Spano announced on May 6 plans to propose legislation to the Yonkers City Council expanding the responsibilities and accountability of local landlords in an effort to better protect the safety and well-being of their tenants. The local law would amend the “Housing and Building Maintenance Code” and would apply to residential buildings…
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