Residential

Westchester Scores Victory in Fair Housing Court Case

December 21, 2015

WHITE PLAINS— Westchester County secured a key victory in what has become an acrimonious affordable housing settlement with the federal government recently when the U.S. Magistrate Gabriel W. Gorenstein ruled that the county had provided financing for enough units to meet its 2014 benchmark and that there was no basis for the county to be…

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Markets That Will Make a Splash in 2016

December 9, 2015

WASHINGTON—Several markets across the country are poised for substantial growth in home prices and sales in 2016 – likely topping 2006 even, according to Realtor.com’s recently released housing forecast. Growing household formation, a strengthening job market, and low unemployment rates are good signs that can get more millennials, young Gen-Xers, and retirees moving. However, there…

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NYSAR Talks Up First-Time Buyer Proposal

November 29, 2015

  ALBANY—Last month, New York State Association of Realtors CEO Duncan MacKenzie and NYSAR Government Affairs Director Mike Kelly attended a meeting with representatives from Gov. Andrew Cuomo’s office and the Division of Budget on an initial proposal to implement a statewide First-Time Home Buyer Savings Account program. The program, outlined in NYSAR’s 2015 legislative…

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ROCKLAND: 2015 Was a Banner Year for Rockland’s Housing Market

November 25, 2015

There is this really talented and cool guy with the patience of a saint. His name is John Jordan. He is affable, smart and really talented when it comes to his job as being editor of Real Estate In Depth...He is a great conversationalist, as one can imagine a "newspaperman" would be. There is only…

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Existing-Home Sales Regain Momentum in September

November 24, 2015

WASHINGTON— Existing–home sales rebounded strongly in September following August's decline and have now increased year–over–year for 12 consecutive months, according to the National Association of Realtors. All four major regions experienced sales gains in September. Total existing–home sales, which are completed transactions that include single–family homes, townhomes, condominiums and co–ops, increased 4.7% to a seasonally…

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Warwick Realty Firm Goes Green for Veterans

November 24, 2015

WARWICK—The Green Team Home Selling System in the Village of Warwick recently got on board with a national promotion designed to encourage people to honor our veterans by changing one light to green in a visible location at home or office as a symbol of appreciation and support for our veterans. Jen DiCostanzo, an associate…

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Weichert, Realtors Launches 37th Annual Toy Drive Campaign

November 24, 2015

MORRIS PLAINS, NJ—The Weichert Family of Companies recently announced the start of the 37th Annual Weichert Toy Drive. Members of the community are invited to drop off new, unwrapped toys at the company’s sales offices through Dec. 11. The toys will be delivered throughout the holidays in conjunction with local charities that assist financially and…

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Cardillo Donates to Purple Heart Homes NY

November 24, 2015

YORKTOWN HEIGHTS—Lou Cardillo of the Lou Cardillo Home Selling Team donated $500 to the Purple Heart Homes NY Downstate Chapter for the 5th Annual Veterans Thanksgiving Dinner. In July, Cardillo announced that he would be partnering with the Purple Heart Home NY Downstate Chapter and Carmel Town Councilwoman Suzi McDonough to continue the annual Veterans…

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NAR Offers Resources to Enhance Realtor Safety

November 23, 2015

SAN DIEGO, CA—Throughout 2015, the National Association of Realtors has enhanced and expanded upon its more than a decade old Realtor Safety program, developing new materials, creating additional resources and providing members with everything they need to feel empowered and confident in their personal safety. Once a week, NAR now shares safety tips via Facebook,…

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Bronx Multifamily Portfolio Trades for $90 Million

November 22, 2015

NEW YORK CITY—A total of 13 multifamily buildings in the Bronx have traded recently in the borough’s largest multifamily deal of the year. The Continental Portfolio, owned by Continental Properties of Chatham, NJ and institutional investors advised by J.P. Morgan Asset Management, was sold to an unnamed private investor for $90 million or more than…

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ROCKLAND: REDC Awards Luncheon Set for Nov. 20

November 22, 2015

  SUFFERN—The Crowne Plaza in Suffern will be the venue for the Rockland Economic Development Corp.’s 21st Annual Economic Development Awards luncheon on Friday, Nov. 20. The highly popular event will begin at 11:30 a.m. with a networking reception. The program will be highlighted by the official recognition of the REDC’s 2015 award winners. Award…

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U.S. Appeals Court Backs HUD on Fair Housing Funding

November 4, 2015

Astorino Claims Vindication on Zoning NEW YORK—While Westchester County government officials say a recent ruling by the United Stats Court of Appeals for the Second Circuit offered “a major vindication” for the county’s position concerning local zoning and home rule, the court in fact sided with the U.S. Department of Housing and Urban Development on…

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Increased Home Sales Activity Points to Improving Market

September 3, 2015

The Orange County real estate market is continuing to improve with regard to purchase offers accepted, closed sales and listings. There has been a marked increase in activity beginning this past spring after a slower period during a snowy and bitter cold winter. Listings have increased as have closed sales. Purchase offers accepted have risen…

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John Lease Realtors Brokers Medical Marijuana Land Deal

September 2, 2015

HAMPTONBURGH—John Lease III, Broker/Owner of John J. Lease Realtors Commercial Division, announced that the firm brokered the sale of a 40-acre parcel on Neelytown Road in Orange County to Pharmacannis, which has been approved by New York State to grow and sell medical marijuana. The parcel was sold for $7.6 million and is in the…

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HGAR Announces HQ Move to Source at White Plains

September 2, 2015

WHITE PLAINS—As first reported in the August edition of Real Estate In-Depth, the Hudson Gateway Association of Realtors officially announced on Aug. 25 that it will be moving its headquarters from The Westchester Pavilion at 60 South Broadway to the top floor of The Source at White Plains early next year. Located at the corner…

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Study: New Home Construction Trailing Job Growth in Majority of Metro Areas

September 2, 2015

WASHINGTON—Despite positive improvements in the labor market in recent years, new home construction is currently insufficient in a majority of metro areas and is contributing to persistent housing shortages and unhealthy price growth in many markets, according to new research from the National Association of Realtors. NAR measured the volume of new home construction relative…

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$42M in Financing Secured for Dobbs Ferry Mixed-Use Project

September 2, 2015

DOBBS FERRY, NY—The developer of the $130-million Rivertowns Square project off the Saw Mill River Parkway here has secured $42 million in construction financing from M&T Bank and promises to resume work on the mixed-use project. In conjunction with the financing deal, developer Saber Dobbs Ferry, LLC reported that it will stage an official groundbreaking…

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Chinese Investor Buying Yonkers Waterfront Projects

September 2, 2015

YONKERS—At the groundbreaking for the $85 million third and final phase of the Hudson Park waterfront rental apartment housing project called Hudson Park River Club here, it was revealed that Strategic Capital, a Chinese-based investment firm, is purchasing the two existing phases and is a partner on the final phase. Arthur Collins, president and co-principal…

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