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…
Read MoreSUFFERN—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…
Read MoreAstorino 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…
Read MoreThe 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…
Read MoreTARRYTOWN—HGAR’s 99th Annual Member Appreciation Day, set for Monday, Oct. 19 at the DoubleTree Hotel in Tarrytown, will feature John Gidding, host of HGTV’s “Curb Appeal,” as the keynote speaker. The free event, open to all HGAR members, is expected to draw more than 1,000 Realtors from the Bronx, Westchester, Putnam, Dutchess, Rockland and Orange…
Read MoreHAMPTONBURGH—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…
Read MoreWHITE 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…
Read MoreWASHINGTON—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…
Read MoreDOBBS 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…
Read MoreYONKERS—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…
Read MoreNEW ROCHELLE—After months of public meetings, master developer RDRXR released a recommended action plan for the redevelopment of a large swath of the Downtown district of the City of New Rochelle that has the development potential of approximately 10.7 million square feet of mixed-use space. The plan outlines development potentials in five separate downtown districts.…
Read MoreWASHINGTON—Real estate firms are confident in the industry’s future growth and their increasing profitability, according to the 2015 National Association of Realtors Profile of Real Estate Firms, released on Aug. 6. “A majority of firms have a positive view of the future, with 95% of all firms expecting their net income to either increase or…
Read MoreALBANY—The New York State Association of Realtors reported on Aug. 19 that the New York State Fire Prevention and Building Code Council voted 10-3 to keep existing code as is and will not implement a statewide mandate on fire sprinkler installation. NYSAR and HGAR issued Calls for Action over the last several months to its…
Read MoreWASHINGTON— A promising climb in home sales throughout the country amidst insufficient supply caused home prices to steadily rise in most metro areas during the second quarter, according to the latest quarterly report by the National Association of Realtors released on Aug. 11. The median existing single-family home price increased in 93% of measured markets,…
Read MoreWASHINGTON—City leaders in New Rochelle, White Plains and Yonkers appear to be on the right track in their efforts to transform their downtown districts into areas that welcome transit-oriented development that will create walkable communities. A recent poll indicated those strategies are right on target with a very sought-after demographic—Millennials. A recent poll conducted by…
Read MoreCARMEL—The Lou Cardillo Home Selling Team is teaming up with the New York Downstate Chapter of the Purple Heart Homes and Councilwoman Suzi McDonough of Carmel to host the 5th Annual Veterans Thanksgiving Dinner on Nov. 21. Over the past four years, former State Senator Greg Ball worked with the community to host an annual…
Read MoreSUFFERN—Laurel Ursino, manager of the Weichert, Realtors Suffern office, reported recently that her office has joined forces with People to People and will be supporting their ‘Back to School with Dignity’ program which aims to provide essential school supplies to at-risk Rockland students. From Thursday, August 20 through Sunday, September 20 between the hours of…
Read MoreCHAPPAQUA—A proposal to create up to 32 units of affordable housing in the iconic former Reader’s Digest headquarters building at Chappaqua Crossing in the Town of New Castle was submitted to the Town Board by Summit Greenfield Partners, the owners of the 120-acre campus on July 24th. A petition was submitted to the town that…
Read MoreYONKERS—The Ginsburg Development Companies recently unveiled a plan for a 55-unit luxury apartment building in the Greystone neighborhood of Yonkers. The three-story building at 1175-1183 Warburton Ave. would be built one block north of River Tides at Greystone, GDC’s much larger, 330-unit complex that is under construction. Apartments in the new building would boast 10-foot…
Read MoreDANBURY, CT—More than 400 real estate professionals from throughout Connecticut and Westchester County recently gathered for the Ultimate Summer Learning Extravaganza hosted by Coldwell Banker Residential Brokerage in Connecticut and Westchester County. The all-day learning event, which took place at the Crowne Plaza in Danbury, opened with a general session featuring expert speakers who provided…
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