Tag Archives: Westchester Homes

Westchester Homes

Record $1.6 Billion Loan Approved To Build New Tappan Zee Bridge | Mt Kisco NY Homes

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The Department of Transportation has approved a record loan of up to $1.6 billion for construction of a new Tappan Zee Bridge, Congresswoman Nita Lowey announced in a press release today.

The largest-ever loan is part of the DOT’s Transportation Infrastructure Finance and Innovation Act (TIFIA) program.

“This is a huge milestone for the construction of a New Tappan Zee Bridge, a critical link in our region’s infrastructure system and lifeline for commuters and businesses,” Lowey said in the release. “I am excited that the DOT has approved the largest ever TIFIA loan for a transportation project and that the work on a new bridge can continue to move forward.

“The construction will continue to create jobs and help New York’s economy grow. I was very pleased to work closely with Gov. Cuomo and our federal delegation throughout this long process to bring a new Tappan Zee Bridge to the Lower Hudson Valley.”

 

 

 

http://mtkisco.dailyvoice.com/news/record-16-billion-loan-approved-build-new-tappan-zee-bridge

One Year After Sandy, Westchester Residents Recall ‘Dark, Cold’ Days | Bedford NY Real Estate

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One year ago today, on Oct. 29, 2012, Hurricane Sandy hit Westchester.

County residents recall the hurricane’s destruction with heavy hearts.

Westchester suffered three casualties during the hurricane – two of them children. Homes were damaged and destroyed, streets and parks were flooded, and power was lost for weeks.

Bill Gheduzzi of Irvington, who co-owns his family’s Mar-Vera Corp. construction company, spent 12 “dark and cold” days with his family following Sandy’s arrival. He kept his business going, but came home to flashlights and a chilly house every night.

“We were without power for almost two weeks and we own a property in Hastings where power was also out for a while,” Gheduzzi said. “My daughter was in California and came home to no power, even though we told her to stay there. Even the dog was going crazy. We’ve had storms before, but the (aftermath) was tough.”

Rob McCarthy of Peekskill recalls being fortunately exempt from the damage.

“We were actually one of the lucky ones up in Peekskill. We had an evergreen fall behind the house which landed on our deck but caused no damage – lost power for two days, but that was about it,” he said.

McCarthy added, “We really got away lucky. I just remember driving to work the next morning down Route 9, and seeing a lot of the devastation that occurred in the towns between Peekskill and Tarrytown.”

Sam Qunsel of Yonkers, co-owner of Madaba’s Deli in Hastings, left home on a family trip to his hometown in Jordan four days before Sandy hit. He was concerned about his family and business back home in New York.

“When we heard about the storm we were concerned because there was no power in the area,” Qunsel said. “There we were in Jordan with power, and back here my brother (Sal) had to connect a wire to the store next door to keep the business going. I was calling all the time.”

Fadia Ezaizat, who was living in Yonkers and working in Hastings-on-Hudson last tall, said her first experience with a hurricane was memorable.

“Hurricane Sandy was actually the first hurricane I have ever experienced,” said Ezaizat, who now lives in Kentucky. “I didn’t realize the severity of the storm until afterwards seeing all the debris and losing power for a week.  I know next time I hear a hurricanes approaching I’ll be more prepared. But I don’t think I’ll have that issue in Kentucky.”

Susan Boland-Garcin of Yonkers vividly remembers the force of the storm.

“I recall being terrified of the high winds in the four large trees in my back yard and praying the didn’t fall on the house,” Boland-Garcin said. “I couldn’t find a place I felt safe except in the lower level of my house. We had roof damage with shingles flying off the roof. My house was literally shaking from the high winds.”

 

 

 

http://mtkisco.dailyvoice.com/news/one-year-after-sandy-westchester-residents-recall-dark-cold-days

Pleasantville’s thriving Farmers Market on Saturday | Chappaqua Real Estate

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Hundreds of shoppers enjoyed Pleasantville’s thriving Farmers Market on Saturday as the local market enjoys the final weeks of its first outdoor season under the village’s control.Photo AlbumPleasantville Farmers Market Grows And Thrives In Village

“We’ve grown the market, included all 12 of the varieties of vendors our shoppers prefer and enlarged the footprint this year,” Market Executive Director Steve Bates said. “And this tear we’re moving inside for the winter season at the Pleasantville Middle School on Dec. 7.”

The Pleasantville Outdoor Farmers Market is in its 15th year and runs Saturdays from 9 a.m. to 1 p.m. through Nov. 23 at the Pleasantville train station in Memorial Plaza.

The Farmers Market is the largest in Westchester County and is home for 50 vendors providing regionally-grown produce, humanely raised meats, wild-caught Atlantic seafood, prepared foods sourcing farms for ingredients, and many other new offerings.

“We enjoy the atmosphere, the convenience and the variety of locally grown produce,” said Pleasantville’s Steve Jacobs, who shops the market with his wife, Jean. “It’s great to have products come directly from local farms and producers each week.”

Bates said the outdoor market has grown over the years as live music, children’s events and vendors came on board.

“The three goals are the bring the community together, attract visitors to our downtown and provide great local farm-to-table products,” Bates said. “We’re having a great year and we welcome everyone to visit.”

The winter indoor market begins Dec. 7 and will run through May 23, 2014, Saturdays from 9 a.m. to 1 p.m.

 

 

http://whiteplains.dailyvoice.com/lifestyle/westchesters-largest-farmers-market-wrapping-outdoor-season

Home prices close in on housing bubble peak | Bedford Corners Homes

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Nationwide, home prices are now just 14 percent off of their bubble era peak, according to real estate data and technology firm Lender Processing Services.

LPS’ U.S. Home Price Index came in at $231,000 in August, up 9 percent year over year and a slight 0.4 percent from July. The index peaked at $270,000 in June 2006.

Texas, in particular, is booming. The state’s HPI hit a new peak of $185,000 in August, as did Texas metros Austin ($240,000), Dallas ($184,000), Houston ($185,000) and San Antonio ($172,000).

 

 

Source: LPS

– See more at: http://www.inman.com/wire/home-prices-close-in-on-housing-bubble-peak/#sthash.3AZ7TiWq.dpuf

Appreciating Values Make it Easier to Move | Katonah Real Estate

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One in three Americans would consider moving to another state in the next one to two years for financial as well as lifestyle considerations, according to a new survey by ERA Real Estate

“While U.S. unemployment has declined and real estate values have been on the rise, many Americans who met with financial challenges during the last five years may be looking to make a change by moving to a new job market,” said Charlie Young, president and CEO of ERA Real Estate.  “That not only makes good financial sense, but would likely increase their quality of life.”

For those consumers who would consider relocation, the primary financial drivers are better job opportunities and a lower cost of living, while curiosity about new places and better weather were equally important in the lifestyle consideration set.

For those who were not interested in a major move, 72% of respondents reported it was because they were happy living in their current local market.

With U.S. Census data pointing to increased “migration” – the number of people who moved out of state or region in 2012 increased 6 percent over 2011 – and ERA brokers citing an increased interest in self-directed relocation, ERA Real Estate partnered with HGTV to dig deeper into the American appetite for relocation.

“As the overall economy and job market improves, people are more likely to consider a major life change that is on their terms, not because they have to,” said Dr. Leslie Reiser, a behavioral expert who worked with ERA Real Estate to understand consumer psychology, attitudes and behavior surrounding relocation.

Moving to a market with better job prospects, a lower cost of living and better weather appears to be favorable to prospective house-hunters, even if it means leaving family and friends behind.

In addition to the consumer survey with HGTV.com, ERA Real Estate also conducted a national survey of its real estate brokers, who cited an improving economy and real estate market as the main reasons that their clients find relocating out of their local market today more attractive than it was 2 to 3 years ago. Other findings include:

  • About two-thirds (63%) of ERA brokers reported that homebuyers and sellers are more open to the idea of moving to a new area, outside of their current local market

 

http://www.realestateeconomywatch.com/2013/10/rising-values-make-it-easier-to-move/

 

Stabilizing September Prices and Inventories Build Market Equilibrium | North Salem Homes

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In September, inventories have returned to levels of a year ago and the buying season ended with the greatest price gains seen in years, according to realtor.com’s September trend report.

Many markets in California, Arizona and Nevada–plus Detroit–that were the center of the housing crisis now appear to be well on the road to a robust recovery. More than 20 percent of the markets covered by realtor.com reported exceptionally large year over year list price gains of 12 percent or more and exceptionally large inventory shortages.  As both prices and inventories become more balanced, affordability and availability will improve, creating better market conditions for both sellers and buyers, realtor.com said.

The recovery has yet to make an impact on markets where prices are the same or lower than they were last year at this time. Representing 20 percent of realtor.com’s markets, these are located in the Midwest, South and Northeast, including Cleveland, Trenton, Hartford, Cincinnati and Buffalo.  The impact of a weak economy continues to takes in toll in many of these markets but most have put in place the foundation for future growth.  Both inventories and age of inventories are down compared to a year ago.

The recovery is having an extraordinary impact on the heartland.  A number of major markets that didn’t suffer the brunt of the housing crisis nor face difficult local economic conditions had in an amazing buying season.  Chicago, Boise, Portland OR, Minneapolis-St. Paul, Ann Arbor, Washington, DC, Nashville, Houston, Denver and Corpus Christie have all achieved price appreciation of 12 percent or higher over last year.

 

 

http://www.realestateeconomywatch.com/2013/10/stabilizing-september-prices-and-inventories-build-market-equilibrium/

September Regional Reports: Prices, Sales Drop Sharply | Cross River Real Estate

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Fall came faster than expected to Western and Midwestern markets in two new September market reports from online brokerages.

For the month ended Sept. 15, median list prices in 24 metropolitan areas were 14 percent above pries a year ago but down from a nearly 16 percent annual gain in August. Median price increases shrank in 19 out of 24 markets. The median sale price of about $272,000 in mid-September was also about 2% lower than in mid-August 2013, according to Lanny Baker, CEO and President of ZipRealty.

“Further moderation in trends was evident in sold-to-list price ratios, new listings volume, pending sales volume, and days on market data for mid-September,” said Baker. “The median number of days on market inched up from 28 in mid-August to 30 in mid-September, though houses are still selling faster this year than last year in every city except Phoenix.”

In September, home sales, prices, and inventory all dropped from August, according to Redfin’s analysis of 19 largely West Coast markets. Prices had their third consecutive month-over-month drop, falling 2.2 percent. Home sales dropped 18.8 percent from August, and inventory fell 3.4 percent. Year over year, prices are up 15.9 percent and home sales up 8.1 percent.

September 2013Month-Over- Month ChangeYear-Over-Year Change
Median Sale Price$330,470.00-2.20%15.90%
Total Homes Sold73,781-18.80%8.10%
Total Homes For   Sale234,670-3.40%-17.50%

Redfin reported that

  • Eighteen of the 19 cities measured saw home prices increase year over year; eight saw month-over-month increases.
  • Las Vegas led the price gains with a 30.3% year-over-year increase. Philadelphia was the only market without a year-over-year gain; prices were flat at 0.0 percent.
  • Chicago saw the biggest sales gains, with home sales up 25.9% from September 2012.
  • Sacramento’s sales volumes took the hardest hit with a 8.9% drop from a year earlier.
  • Inventory came in at 234,670 total listings across the 19 metro areas studied.
  • Las Vegas had the largest inventory drop at 46.6%. The only market with a yearly increase in homes for sale was Phoenix, with a 1.7% bump.

According to ZipRealty, the top 10 markets based on percentage median price growth as of Sept. 15 were:

MetroYear-Over-Year Price   Growth
1)Sacramento33%
2)Las Vegas31%
3)Los Angeles26%
4)San Francisco Bay   Area25%
5)Phoenix23%
6)Orlando21%
7)San Diego21%
8)Orange County20%
9)Portland15%
10)Chicago15%

 

The 10 ZipRealty markets with the greatest number new listings as of Sept. 15 were:

MetroYOY Increase in   New Listings
1)Denver19%
2)Tucson &   Orange County15%
3)Baltimore14%
4)Washington,   DC/Northern Virginia & Richmond, Va.11%
5)San Diego &   Seattle10%
6)Raleigh9%
7)Dallas8%
8)Chicago &   Orlando7%
9)Houston &   Sacramento6%
10)Los Angeles5%

 

 

 

 

http://www.realestateeconomywatch.com/2013/10/september-regional-reports-prices-sales-drop-sharply/

 

Undervalued Investment Markets Won’t Last Long | Bedford NY Real Estate

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That’s how Ingo Winzer, president and founder of Local Market Monitor, sees the future of rental markets for investors, but “investing in rental properties will be an attractive proposition for many years because of the increasing numbers of people who can’t afford to be homeowners.”

LMM’s third quarter ranking of best 300 rental markets, co-sponsored by HomeVestors, also known as the “We Buy Ugly Houses®” company, found that the best opportunities are in the South, where five markets made the ranking’s top ten: n the Top 10, including Atlanta (number three), Fort Worth, Texas (number five), Little Rock (number six), Orlando (number eight), Jacksonville, Florida (number nine) and Baton Rouge (number 10).

Other top 10 markets are Las Vegas (number one), Columbus, Ohio (number two), Indianapolis (number four), and Stockton, California (number seven).

“The markets in the Top 10 listing all had strong job growth during the past year, and in many cases, strong home price appreciation, too, but are still undervalued by at least 15 percent,” said Winzer. “Even Las Vegas, where prices jumped as high as18 percent, remains 31 percent undervalued.”

David Hicks, HomeVestors co-president, noted that risk of investing in all markets across the country has decreased sharply.  “Only six of the markets in the top 100 list are ranked as “speculative,” down from 13 during the last quarter.  The others are ranked as either “low risk” or “medium risk”, since there are many different types of investment out there. Looking for the top Canadian Stocks to invest in for a winning portfolio? Most successful investors website is https://www.stocktrades.ca/. If you have a smaller account, you can find stocks under $1 to invest in.

The “speculative” markets include Los Angles, Gary, Providence, Buffalo, Toledo and Cleveland.  “Most of these markets have higher than average unemployment rates, but have other factors such as undervalued home prices that make them attractive, albeit more risky,  investments,” Hicks said.

“Even though most local real estate markets have rounded the corner, opportunities for investment remain plentiful because home values in many markets are well below the level that local incomes can support,” Winzer added. “In these undervalued markets, both rents and home values will be increasing rapidly as the local economy improves and demand for housing runs up against the fact that there has been very little new construction in recent years.”

Hicks said that the pace of growth the company is experiencing reflects the strong housing market.  “Our housing purchases have steadily increased over the past eight months and are on track to grow 60 percent over 2012. The interest in the housing market is also reflected in franchise sales – where we’re on track to add more new franchises than any year in our history.”

http://www.realestateeconomywatch.com/2013/09/undervalued-investment-markets-won%e2%80%99t-last-long/

Mapping the Changes Coming to Harlem’s 125th Street | Katonah Real Estate

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The Harlem Shake has come and gone, but Harlem is still slowly being shaken up by new construction projects. Just take a look at 125th Street, where the changes are as large as Columbia’s Manhattanville expansion and as small as retailers and restaurants opening next to the Apollo Theater. Curbed intern David Stein took a stroll along 125th Street to map the changes for the latest installment in our Microhood Maps series. Know of a project we’ve missed, or have an update on one listed below? Please let us know.

Manhattanville Campus
609 West 125th Street, New York, NY 10027

Map DataMap data ©2013 Google, Sanborn
Map Data
Map data ©2013 Google, Sanborn
Map data ©2013 Google, Sanborn
125th Street Microhood Map
Harlem M/E/C Center
The Harlem Media / Entertainment / Cultural Center was a 1.6 million square foot mega-project expected to occupy almost all of the lots between 125th and 127th Streets, and Second and Third Avenues. Beyond its pretty impressive program—including an office, hotel, cultural center, and 840,000 square foot residential complex—the project had the backing of some well-known groups, including General Growth Partners, Archstone and Monadnock Construction. Unfortunately, the project was announced in October 2008, and General Growth went into bankruptcy just five months later. While Metro125, the residential building at 125th Street and Third Avenue was still completed in 2009 by MEC partner The Richman Group, the rest of the project appears to have timed-out.
2305 3rd Avenue, New York, NY 10035
40.803766-73.93543899999997
Manhattanville Campus
Columbia’s new Manhattanville campus is already underway and drastically larger than any other project currently in development on 125th Street. Yet the most visible sign of progress—a $200 million “Jerome L. Greene Science Center”—is merely the tip of Colubmia’s iceberg. Twelve more buildings totaling 6.8 million square feet are destined for the blocks between 125th and 133rd Streets, and though Columbia claims the campus will be “pedestrian” in scale and widely accessible to the public, the renderings do look intimidating. (Maybe that’s why they keep them small?)
609 West 125th Street, New York, NY 10027
40.8162413-73.95858340000001
Create @ Harlem Green
The 126th Street entrance to the former Tastee Bakery factory—a mere calculator toss from the Manhattanville campus—reveals a building still in significant need of repair and improvements. Developers Janus Partners and Monadnock Construction won the project from the NYCEDC after it was re-zoned in 2011 and have since planned to create nearly 250,000 square feet of manufacturing, office, and other commercial space, including tech-friendly areas. So far, however, the most notable tenant expected to move in will be the Harlem Brewing Company. Local residents are skeptical that the project will happen altogether: apparently a few “big ass” trees are growing inside.
439 West 126th Street, New York, NY 10027
40.813203-73.95469300000002
301 W 125th St Shopping Complex
The Adjimis and Aurora Capital are wrapping up a 100,000 square foot retail project at the corner of 125th Street and Frederick Douglass Boulevard. Joe’s Crab Shack and Party City are already up-and-running, and DSW Shoes and Blink Fitness are bound to open their doors any day now. If those sound like good neighbors, a sizeable chunk of ground floor space still looks to be available.
301 West 125th Street, New York, NY 10027
40.8105464-73.95143300000001
Red Lobster (And More)
No longer will Times Square wield an iron claw when it comes to Manhattan’s chain-scale seafood fans: theater-goers might now be tempted to 125th Street, where Red Lobster is about to open directly next to the Apollo Theater, along with a couple retailers or another, smaller restaurant (to be determined). The project is being developed by Gotham and Grid Properties, the same groups responsible for the nearby Harlem USA center.
269 West 125th Street, New York, NY 10027
40.8100025-73.9507226
Mart 125
Mart 125, a former “indoor market place for African vendors,” lies directly across the street from the Apollo and Victoria Theaters, which might explain why the NYCEDC has been trying to re-vitalize the property since the late 1990’s. Although the space was apparently decrepit even while still in use as a market, Mart 125 remains dark and closed. The EDC is seeking a community-minded developer to fix everything and incorporate a 15,000 square foot National Jazz Museum and visitor center.
260 West 125th Street, New York, NY 10027
40.80943800000001-73.95056399999998
Victoria Theater
If it happens, the Victoria Theater project could shake-up central Harlem big-time. Danforth Development Partners and Exact Capital are planning a pretty sizeable mixed-use project: a cultural arts center, a 210-room Cambria Suites hotel, and 230 apartments (although we’ve heard as many as 299 units). The two-towered project will cost $143 million, which is why the whole thing is a big “if”: most other recent projects on 125th Street have been limited to about $15 to $30 million in costs. That being said, there’s a big need for hotels in Harlem.
237 West 125th Street, New York, NY 10027
40.8096035-73.94976689999998
National Urban League HQ
Harlem’s other big project is just starting to get off the ground: a 400,000 square foot, $225 million office building, retail and conference center, parking garage, and affordable housing complex. The developer, Hudson Companies, generally specializes in residential-only projects but appears to have earned the city’s trust, as well as a strong relationship with the National Urban League, which will occupy most of the complex’s office space once everything is finished. Big-name architecture firm HOK is the designer.
121 West 125th Street, New York, NY 10027
40.8080202-73.94599920000001
Whole Foods Site
Despite DOB filing activity as recently as May, the Whole Foods / Burlington Coat Factory / American Eagle Outfitters project bound for the corner of 125th Street and Malcom X Boulevard remains an empty and lot. The lot is also sizeable, and yet Whole Foods itself is expected to occupy only 39,000 square feet, which means there’s likely to be room for even bigger ideas (Hotel? Rentals?). The developer is Jeff Sutton, who was once profiled in the Observer as the “King of New York Retail.” So maybe Whole Foods is the whole truth after all…
100 West 125th Street, New York, NY 10027
40.8078086-73.94557350000002
Hotel (or Retail) Project
The last time we heard anything about this site, it was… confusing. At one point, renderings from Curtis + Ginsberg Architects suggested a 200,000 square foot office building was on its way. In 2010 we learned of a new plan from The Real Deal, where the office building was ditched in favor of a luxury hotel, which was shortly therefater ditched in favor of a Hilton Garden Inn. The lot has since sold to RCG Longview, an affiliate of Estreich & Company, who appears to be partnering with the Feil Organization to build a 125,000 square foot retail and office complex. However, DOB filings show plans for a 14-story building, rather than the “five-story” building described by Feil. The confusion continues!
15 West 125th Street, New York, NY 10027
40.8068638-73.94325529999997
Corn Exchange Building
Work is moving ahead on a gut renovation of one of Harlem’s most distinct landmarks, the Corn Exchange Building. It was originally built in 1883 and served as headquarters for a couple major banks until bad times arrived in the form of a poor economy in the 1970’s and a fire in the 1990’s. After being partially demolished, a developer is spending $17 million to re-create 22,000 square feet of office space and 9,000 square feet of retail. It’s located right next to the Metro North stop at 125th Street and Park Avenue.
121 East 125th Street, New York, NY 10035
40.8047081-73.93814600000002
Harlem M/E/C Center
The Harlem Media / Entertainment / Cultural Center was a 1.6 million square foot mega-project expected to occupy almost all of the lots between 125th and 127th Streets, and Second and Third Avenues. Beyond its pretty impressive program—including an office, hotel, cultural center, and 840,000 square foot residential complex—the project had the backing of some well-known groups, including General Growth Partners, Archstone and Monadnock Construction. Unfortunately, the project was announced in October 2008, and General Growth went into bankruptcy just five months later. While Metro125, the residential building at 125th Street and Third Avenue was still completed in 2009 by MEC partner The Richman Group, the rest of the project appears to have timed-out.
2305 3rd Avenue, New York, NY 10035
40.803766-73.93543899999997
Manhattanville Campus
Columbia’s new Manhattanville campus is already underway and drastically larger than any other project currently in development on 125th Street. Yet the most visible sign of progress—a $200 million “Jerome L. Greene Science Center”—is merely the tip of Colubmia’s iceberg. Twelve more buildings totaling 6.8 million square feet are destined for the blocks between 125th and 133rd Streets, and though Columbia claims the campus will be “pedestrian” in scale and widely accessible to the public, the renderings do look intimidating. (Maybe that’s why they keep them small?)
609 West 125th Street, New York, NY 10027
40.8162413-73.95858340000001
Manhattanville Campus
Columbia’s new Manhattanville campus is already underway and drastically larger than any other project currently in development on 125th Street. Yet the most visible sign of progress—a $200 million “Jerome L. Greene Science Center”—is merely the tip of Colubmia’s iceberg. Twelve more buildings totaling 6.8 million square feet are destined for the blocks between 125th and 133rd Streets, and though Columbia claims the campus will be “pedestrian” in scale and widely accessible to the public, the renderings do look intimidating. (Maybe that’s why they keep them small?)
609 West 125th Street, New York, NY 10027
40.8162413-73.95858340000001
Create @ Harlem Green
The 126th Street entrance to the former Tastee Bakery factory—a mere calculator toss from the Manhattanville campus—reveals a building still in significant need of repair and improvements. Developers Janus Partners and Monadnock Construction won the project from the NYCEDC after it was re-zoned in 2011 and have since planned to create nearly 250,000 square feet of manufacturing, office, and other commercial space, including tech-friendly areas. So far, however, the most notable tenant expected to move in will be the Harlem Brewing Company. Local residents are skeptical that the project will happen altogether: apparently a few “big ass” trees are growing inside.
439 West 126th Street, New York, NY 10027
40.813203-73.95469300000002
301 W 125th St Shopping Complex
The Adjimis and Aurora Capital are wrapping up a 100,000 square foot retail project at the corner of 125th Street and Frederick Douglass Boulevard. Joe’s Crab Shack and Party City are already up-and-running, and DSW Shoes and Blink Fitness are bound to open their doors any day now. If those sound like good neighbors, a sizeable chunk of ground floor space still looks to be available.
301 West 125th Street, New York, NY 10027
40.8105464-73.95143300000001
Red Lobster (And More)
No longer will Times Square wield an iron claw when it comes to Manhattan’s chain-scale seafood fans: theater-goers might now be tempted to 125th Street, where Red Lobster is about to open directly next to the Apollo Theater, along with a couple retailers or another, smaller restaurant (to be determined). The project is being developed by Gotham and Grid Properties, the same groups responsible for the nearby Harlem USA center.
269 West 125th Street, New York, NY 10027
40.8100025-73.9507226
Mart 125
Mart 125, a former “indoor market place for African vendors,” lies directly across the street from the Apollo and Victoria Theaters, which might explain why the NYCEDC has been trying to re-vitalize the property since the late 1990’s. Although the space was apparently decrepit even while still in use as a market, Mart 125 remains dark and closed. The EDC is seeking a community-minded developer to fix everything and incorporate a 15,000 square foot National Jazz Museum and visitor center.
260 West 125th Street, New York, NY 10027
40.80943800000001-73.95056399999998
Victoria Theater
If it happens, the Victoria Theater project could shake-up central Harlem big-time. Danforth Development Partners and Exact Capital are planning a pretty sizeable mixed-use project: a cultural arts center, a 210-room Cambria Suites hotel, and 230 apartments (although we’ve heard as many as 299 units). The two-towered project will cost $143 million, which is why the whole thing is a big “if”: most other recent projects on 125th Street have been limited to about $15 to $30 million in costs. That being said, there’s a big need for hotels in Harlem.
237 West 125th Street, New York, NY 10027
40.8096035-73.94976689999998
National Urban League HQ
Harlem’s other big project is just starting to get off the ground: a 400,000 square foot, $225 million office building, retail and conference center, parking garage, and affordable housing complex. The developer, Hudson Companies, generally specializes in residential-only projects but appears to have earned the city’s trust, as well as a strong relationship with the National Urban League, which will occupy most of the complex’s office space once everything is finished. Big-name architecture firm HOK is the designer.
121 West 125th Street, New York, NY 10027
40.8080202-73.94599920000001
Whole Foods Site
Despite DOB filing activity as recently as May, the Whole Foods / Burlington Coat Factory / American Eagle Outfitters project bound for the corner of 125th Street and Malcom X Boulevard remains an empty and lot. The lot is also sizeable, and yet Whole Foods itself is expected to occupy only 39,000 square feet, which means there’s likely to be room for even bigger ideas (Hotel? Rentals?). The developer is Jeff Sutton, who was once profiled in the Observer as the “King of New York Retail.” So maybe Whole Foods is the whole truth after all…
100 West 125th Street, New York, NY 10027
40.8078086-73.94557350000002
Hotel (or Retail) Project
The last time we heard anything about this site, it was… confusing. At one point, renderings from Curtis + Ginsberg Architects suggested a 200,000 square foot office building was on its way. In 2010 we learned of a new plan from The Real Deal, where the office building was ditched in favor of a luxury hotel, which was shortly therefater ditched in favor of a Hilton Garden Inn. The lot has since sold to RCG Longview, an affiliate of Estreich & Company, who appears to be partnering with the Feil Organization to build a 125,000 square foot retail and office complex. However, DOB filings show plans for a 14-story building, rather than the “five-story” building described by Feil. The confusion continues!
15 West 125th Street, New York, NY 10027
40.8068638-73.94325529999997
Corn Exchange Building
Work is moving ahead on a gut renovation of one of Harlem’s most distinct landmarks, the Corn Exchange Building. It was originally built in 1883 and served as headquarters for a couple major banks until bad times arrived in the form of a poor economy in the 1970’s and a fire in the 1990’s. After being partially demolished, a developer is spending $17 million to re-create 22,000 square feet of office space and 9,000 square feet of retail. It’s located right next to the Metro North stop at 125th Street and Park Avenue.
121 East 125th Street, New York, NY 10035
40.8047081-73.93814600000002
Harlem M/E/C Center
The Harlem Media / Entertainment / Cultural Center was a 1.6 million square foot mega-project expected to occupy almost all of the lots between 125th and 127th Streets, and Second and Third Avenues. Beyond its pretty impressive program—including an office, hotel, cultural center, and 840,000 square foot residential complex—

Late Summer Sales Keep September Prices Hot | Lewisboro NY Real Estate

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Home price gains in September rose over record August levels, evidence of residual summer buying activity, according to the first market report of the month to be released.

All regions saw small up-ticks in yearly price gains as Clear Capital’s Home Data Index (HDI) Market Report said September prices rose to 10.9% year-over-year.  In August, national yearly home price growth reached 10.2%, the last time Clear Capital reported double digit yearly price growth since the middle of 2006, the height of the bubble.

Clear Capital’s August prices remained 32.5% off their previous highs and only in line with 2002 prices.  Additionally, the low tier price segment of the housing market saw quarterly gains of 2.0%, the lowest since April 2012, indicating the sector that kick started the recovery is already on a path of moderation. From its peak rate of growth in April 2013, rates of growth for the low tier segment, or home sale values in the bottom 25th percentile, have fallen from 4.1% to 2.0%.

“While national and regional rates showed more of the same in September, an interesting dichotomy is unfolding beneath the surface,” said Dr. Alex Villacorta, vice president of research and analytics at Clear Capital. “Strong performances in San Francisco and Detroit remind us that in a dynamic market, the only constant is change. For about a year and a half now, we’ve been focused on First-In, First-Out recoveries characterized by hard hit markets attracting investor interest, like Miami, Phoenix and Las Vegas. Now as the recovery matures, we see homebuyers re-engaging in markets that haven’t fit the typical investor profile.

“As demand calibrates to local economic environments, markets will start to find their natural equilibriums with moderating gains ahead. This should invite new markets, such as San Francisco and Detroit to share the spotlight as their recoveries continue to evolve,” he said.

Highest   Performing Major Metro Markets

Qtr/Qtr Rank

Metropolitan   Statistical Area

Qtr/Qtr % +/-

Yr/Yr

REO Saturation

1

San Francisco, CA –   Oakland, CA – Fremont, CA

4.4%

28.3%

6.3%

2

Detroit, MI – Warren,   MI – Livonia, MI

4.3%

23.3%

31.7%

3

Sacramento, CA –   Arden, CA – Roseville, CA

3.9%

27.7%

11.0%

4

Las Vegas, NV –   Paradise, NV

3.9%

32.2%

19.8%

5

San Jose, CA –   Sunnyvale, CA – Santa Clara, CA

3.9%

25.7%

2.8%

6

Atlanta, GA – Sandy   Springs, GA – Marietta, GA

3.6%

26.1%

21.2%

7

Birmingham, AL –   Hoover, AL

3.5%

10.4%

20.6%

8

Los Angeles, CA – Long   Beach, CA – Santa Ana, CA

3.4%

22.2%

9.2%

9

Chicago, IL –   Naperville, IL – Joliet, IL

3.4%

21.5%

20.2%

10

Riverside, CA – San   Bernardino, CA – Ontario, CA

3.2%

21.8%

15.9%

11

Miami, FL – Ft.   Lauderdale, FL – Miami Beach, FL

3.2%

20.4%

21.9%

12

Bakersfield, CA

3.0%

20.8%

16.7%

13

Columbus, OH

2.9%

6.7%

23.6%

14

San Diego, CA –   Carlsbad, CA – San Marcos, CA

2.8%

19.6%

7.9%

15

Oxnard, CA – Thousand   Oaks, CA – Ventura, CA

2.7%

18.2%

7.1%

Top

Lowest   Performing Major Metro Markets

Qtr/Qtr Rank

Metropolitan   Statistical Area

Qtr/Qtr % +/-

Yr/Yr

REO Saturation

1

Charlotte, NC-   Gastonia, NC – Concord, NC

-0.1%

-0.4%

17.1%

2

Louisville, KY

0.2%

1.0%

18.5%

3

Raleigh, NC – Cary, NC

0.2%

1.1%

11.3%

4

Hartford, CT – West   Hartford, CT – East Hartford, CT

0.3%

4.0%

4.0%

5

Rochester, NY

0.4%

3.7%

2.2%

6

St. Louis, MO

0.4%

-0.2%

23.3%

7

Dayton, OH

0.4%

4.8%

22.2%

8

New Orleans, LA –   Metairie, LA – Kenner, LA

0.4%

3.4%

12.3%

9

Virginia Beach, VA –   Norfolk, VA – Newport News, VA

0.7%

5.0%

9.8%

10

Dallas, TX – Fort   Worth, TX – Arlington, TX

1.0%

6.8%

12.4%

11

Baltimore, MD –   Towson, MD

1.0%

5.5%

7.2%

12

Pittsburgh, PA

1.0%

5.2%

4.5%

13

Richmond, VA

1.2%

8.8%

11.1%

14

Philadelphia, PA –   Camden, NJ – Wilmington, DE

1.3%

5.2%

4.6%

15

Providence, RI – New   Bedford, MA – Fall River, MA

1.3%

11.7%

6.0%

The Clear Capital Home Data Index Market Report is built on information from recorder/assessor offices, enhanced by adding the company’s proprietary streaming market data. It reflects nationwide coverage of sales by aggregating this data at ten different geographic levels, including hundreds of metropolitan statistical areas (MSAs) and sub-ZIP code boundaries. It includes equally-weighted distressed bank owned sales (REOs) from around the country.

 

 

http://www.realestateeconomywatch.com/2013/10/late-summer-sales-keep-september-hot/