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Real Estate Development

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New Townhouse Community Planned In Yorktown Moves Closer To Approval New Townhouse Community Planned In Yorktown Moves Closer To Approval
New Townhouse Community Planned In Yorktown Moves Closer To Approval A proposed over-100-unit adult townhouse community that would generate a large amount of property taxes for a Northern Westchester school district has cleared a major hurdle. The Yorktown Town Board has approved a zoning change for a proposed 118-unit, age-restricted townhouse development at the Catharine Field Home property on Catherine Street, officials announced on Monday, Dec. 16. The project, led by developer Toll Brothers, would sit on a 50.5-acre parcel and include a clubhouse, pool, roads, and a stormwater management system as part of the new age 55+ community. The plan follows mor…

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by Ben Crnic
Obituaries
Memorial Planned For Beloved Real Estate Developer From North Salem After Sudden Death Memorial Planned For Beloved Real Estate Developer From North Salem After Sudden Death
Memorial Planned For Beloved Real Estate Developer From North Salem After Sudden Death Friends and loved ones will soon gather to remember the legacy of a prolific New York real estate developer and Williams College graduate who spent years redeveloping industrial properties and transforming communities in the process. A memorial is set to be held on Saturday, Nov. 9 to celebrate the memory of Joseph Cotter, a resident of the Northern Westchester County hamlet of Purdys in North Salem, who died on Monday, Oct. 25 at the age of 66 following a heart attack. The service will be held at 10 a.m. at the Robert Halmi Sr. Academy of Film and Television, located at 463 Hawth…

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by Ben Crnic
Lifestyle
New Apartments With Work-From-Home Amenities Coming To Hudson Valley New Apartments With Work-From-Home Amenities Coming To Hudson Valley
New Apartments With Work-From-Home Amenities Coming To Hudson Valley By this summer Hudson Valley residents looking for an apartment will have a chance to check out a new development customized for the work-at-home lifestyle. Located in Dutchess County in the town of Poughkeepsie 44 Springside, is the brainchild of Tinkelman Architecture to bring the latest in contemporary living with a five-story, mixed-use building. The building will have 28 apartments and include a top-floor community room, gym, event/workspace, and rooftop terrace as well as an indoor swimming pool on the ground floor. The company said the apartments offer expansive windows wood veneer …

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by Kathy Reakes
Business
Developer Closes Deal On 203-Unit Mixed-Income Housing Parcel In Westchester County Developer Closes Deal On 203-Unit Mixed-Income Housing Parcel In Westchester County
Developer Closes Deal On 203-Unit Mixed-Income Housing Parcel In Westchester County A major real estate developer has closed on the purchase of a fully-entitled parcel in Westchester County that is planned to be a mix of rental housing, retail space, and community facilities. The Hudson Companies (Hudson) acquired a parcel in Port Chester located at 27-45 North Main St. (Route 1) and 28 Adee St. that will be developed into 203 mixed-income residential units in addition to commercial space, according to an announcement by the company from Wednesday, Nov. 9.  The future development, which has not yet been named, will feature a mix of studio, one-bedroom, and t…

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by Ben Crnic
Business
Owners Looking To Transform Mall In Westchester County Owners Looking To Transform Mall In Westchester County
Owners Looking To Transform Mall In Westchester County The owners of a Westchester County mall are teaming up with prominent real estate players to turn the site into a mixed-use residential and commercial development.  The owners of The Galleria at White Plains located at 100 Main St. (Route 119), Pacific Retail Capital Partners (PRCP) and Aareal Bank, are teaming up with real estate developers SL Green Realty Corp. and the Cappelli Organization to transform the mall, according to an announcement by PRCP from Thursday, Nov. 3.  The 870,000-square-foot Galleria opened in 1980 in downtown White Plains and is near a major mass…

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by Ben Crnic
Politics
Trump Issues Last-Second Pardon To Fox News Host Jeanine Pirro’s Former Husband Al Pirro Trump Issues Last-Second Pardon To Fox News Host Jeanine Pirro’s Former Husband Al Pirro
Trump Issues Last-Second Pardon To Fox News Host Jeanine Pirro’s Former Husband Al Pirro As the clock ticked down on his time in the Oval Office, former President Donald Trump issued one last pardon - for the ex-husband of former Westchester County District Attorney Jeanine Pirro, the fiery Fox News host. A total of 143 pardons were issued by Trump on his last full day in office on Tuesday, Jan. 19. But after Trump left Washington, D.C. for Florida on Wednesday morning, Jan. 20, it was announced that Trump had issued one more pardon - for Mount Vernon native Albert Pirro, who was convicted in 2000 on conspiracy and tax evasion charges. The announcement was made public as t…

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by Zak Failla
News
Westchester Developer Admits To Ponzi Scheme, Could Face Decades In Prison Westchester Developer Admits To Ponzi Scheme, Could Face Decades In Prison
Westchester Developer Admits To Ponzi Scheme, Could Face Decades In Prison A real estate developer has admitted to operating a years-long Ponzi scheme that included properties in Westchester. Michael D’Alessio, 53, has pleaded guilty to one count of committing wire fraud and one count of concealing assets from a bankruptcy court. He faces up to 20 years in prison and hundreds of thousands of dollars in fines when he is sentenced on March 22 next year. The elaborate scheme involved defrauding investors of luxury real estate developments in Manhattan, the Hamptons, Westchester and other locales. D'Alessio is the former president and CEO of real estate deve…

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by Zak Failla
Real Estate
White Plains Real Estate Developer Charged With Operating Ponzi Scheme White Plains Real Estate Developer Charged With Operating Ponzi Scheme
White Plains Real Estate Developer Charged With Operating Ponzi Scheme A real estate developer is facing up to two decades behind bars for operating an alleged years-long Ponzi scheme that included properties in the Hudson Valley. Michael D’Alessio, 52, has been charged with committing wire fraud in connection to his elaborate scheme to defraud investors in luxury real estate developments in Manhattan, the Hamptons, Westchester and elsewhere. D'Alessio is the former president and CEO of real estate development firm Michael Paul Enterprises in White Plains. A career real estate developer and contractor, D’Alessio was the CEO of an investment and development fi…

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by Zak Failla
News
Hudson Valley Real Estate Consultant Admits To Federal Voter Fraud Hudson Valley Real Estate Consultant Admits To Federal Voter Fraud
Hudson Valley Real Estate Consultant Admits To Federal Voter Fraud A Hudson Valley man is facing time behind bars after pleading guilty to conspiring to corrupt the electoral process in connection to a New York election. Orange County resident Volvy “Zev” Smilowitz, 29, has pleaded guilty to “the biggest federal voter fraud cause in the modern era,” according to Geoffrey Berman, the United States Attorney for the Southern District of New York, who announced the guilty plea on Tuesday. According to the indictment that Smilowitz, of Monroe, pleaded guilty to, beginning in 2006, while serving as a consultant, he, Shalom Lamm and Kenneth Nakdimen, real estate …

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by Zak Failla
News
ID Released For Man Struck, Killed By Metro-North Train ID Released For Man Struck, Killed By Metro-North Train
ID Released For Man Struck, Killed By Metro-North Train Officials have identified the man fatally struck by a train near the Fairfield Metro-North as MTA Police detectives continue their investigation. Fairfield resident Alfred Lenoci, Jr., 55, was fatally struck by the train at approximately 5:15 a.m. on Wednesday morning, a Metro-North spokesperson said, when the 4:37 a.m. train from New Haven, due into Grand Central at 6:34 a.m., fatally struck him west of the station, near Grasmere Avenue in Fairfield. Lenoci is a well-known real estate developer who served prison time and was convicted in 2001 for his role in the corruption investigation of…

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by Zak Failla
Business
Financing Round Secured For Nevele Project Financing Round Secured For Nevele Project
Financing Round Secured For Nevele Project The first round of financing has reportedly been completed for the historic Nevele Grand Resort, which was auctioned off last month. The Nevele Resort and ProSport Campus has successfully completed its first round of funding, according to a statement released by the Asia Pacific Investment House out of Singapore, which is the chief financier of the proposed $318 million development at the prominent location. Mortgage lender iStar took back the property for $3.5 million after being the only bidder at an auction for the land that was held last month. It had initially been put up for sale last…

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by Zak Failla