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Real Estate
Westchester's 2024 Q3 Commercial Real Estate Market Shows 'Mixed Results': Report Westchester's 2024 Q3 Commercial Real Estate Market Shows 'Mixed Results': Report
Westchester's 2024 Q3 Commercial Real Estate Market Shows 'Mixed Results': Report Although demand for Westchester retail space and multifamily apartment complexes improved during the third quarter of 2024, the market for other commercial properties in the county did not fare as well, according to an all-new report.  The data regarding the county's commercial real estate market came from Houlihan Lawrence's Q3 Commercial Market Report, released on Tuesday, Oct. 29.  According to the real estate brokerage, demand for retail space in Westchester "continues to evolve rapidly," as consumers have healthy purchasing power and are on the lookout for "con…

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by Ben Crnic
News
COVID-19: Working From Home Comes With A High Cost, New Research Says COVID-19: Working From Home Comes With A High Cost, New Research Says
Covid-19: Working From Home Comes With A High Cost, New Research Says Working from home may not be the cost-saving measure that it first appears to be. According to a new working paper from Harvard University researchers, where a remote-worker resides dictates whether or not working from home saves a household any money. At the start of the COVID-19 pandemic, a closed economy meant many people were able to work from home. The move has been hailed as a success by many corporations and employees, but Harvard wasn’t so sure. To determine whether people and businesses are better off with employees working from home, Harvard compared how much households with remo…

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by Kristin Palpini
Real Estate
Sold! Office Complex Goes For $55M In Westchester Sold! Office Complex Goes For $55M In Westchester
Sold! Office Complex Goes For $55M In Westchester A six-building office complex formerly known as Reckson Executive Park has been sold for $55 million, according to CBRE commercial real estate firm that brokered the deal. The property at 2 and 3 International Drive in Rye Brook, near King Street and New York's border with Connecticut was purchased by George Comfort & Sons.  Manhattan-based George Comfort & Sons acquired the 563,596-square-foot office complex in a joint venture with a fund managed by DRA Advisors. The complex was owned by SL Green, which announced in April the impending sale of the property. "The tightening o…

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by Jon Craig
Real Estate
Sold! Two Platinum Mile Buildings Go For $14.75M In Westchester Sold! Two Platinum Mile Buildings Go For $14.75M In Westchester
Sold! Two Platinum Mile Buildings Go For $14.75M In Westchester A commercial landlord has expanded his influence along Westchester's "Platinum Mile" with a $14.75 million purchase. Robert Weisz, founder and CEO of RPW Group of Rye Brook, said his company bought two Class A office buildings at 925-1025 Westchester Ave. on the border of West Harrison and White Plains. The purchase of the 192,711-square-foot property was announced by CBRE, a commercial real estate company that brokered the deal along with Ten-X.  The complex, formerly owned by Normandy Real Estate Partners, sits on 11.7 acres near the I-287/Hutchinson River Parkway interchange. …

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by Daily Voice
Real Estate
Development Company Buys Former IBM Site In Hudson Valley Development Company Buys Former IBM Site In Hudson Valley
Development Company Buys Former IBM Site In Hudson Valley A Beacon development company, RWHPA LLC, has purchased the former IBM West/Bright solar 125-acre campus in East Fishkill in a deal brokered by McGrath Realty, Inc. The deal, which was two years in the making, was closed this month for an undisclosed amount.  The land includes three flex buildings and 70 acres of land, the realty company said. According to McGrath, the town of East Fishkill and Dutchess County government were involved in the process, especially the economic development sector because of its layout in such "a fast growing commercial and industrial region," he added…

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by Kathy Reakes
Real Estate
Purchase By Regeneron In Tarrytown Ranks Among Major Real Estate Deals Purchase By Regeneron In Tarrytown Ranks Among Major Real Estate Deals
Purchase By Regeneron In Tarrytown Ranks Among Major Real Estate Deals Last year's $&20 million sale of the Landmark at Eastview at 777 Old Saw Mill River Road in Tarrytown -- which houses Regeneron's expanding operations -- ranks as of of the top 25 office or multifamily sales since 1995 of properties outside New York City, according to this research posted by CommercialCafe.com The study focuses on the properties which stirred a lot of investor interest these past 20 years and have either sold for an exorbitant price tag or have changed hands several times. The $720 million sale of the Landmark at Eastview in Tarrytown was not only one of the top deals to…

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by Jon Craig