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Tag:
Real Estate Development
Yorktown, NY
News
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…
North Salem, NY
Obituaries
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…
Trenton, NJ
Politics
Meet Andy Kim, Curtis Bashaw: NJ Politicians Vying For Menendez's Former Seat
Rep. Andy Kim, D-NJ and Curtis Bashaw, a business owner, are running for Sen. Bob Menendez's old senate seat after the disgraced senator resigned following his conviction on felony corruption charges. Here's a little bit about the two candidates: Kim has represented New Jersey's 3rd congressional district since 2019. He jumped into the race upon Menendez's indictment and fended off a challenge from First Lady Tammy Murphy, whose campaign struggled, forcing her to drop out before the primary. Kim's lasting impact in the race may be upending New Jersey's controversial "line" system. A j…
New Rochelle, NY
Real Estate
Work Nears Completion On 28-Story Apartment Tower In New Rochelle
Developers marked a significant milestone in the construction of a 28-story residential tower in the downtown section of a Westchester County city. A "topping out" ceremony was held on Friday, Sept. 20 to celebrate the completion of the final floor of 247 North Avenue, an upcoming apartment tower in downtown New Rochelle developed by LRC Construction. The development will include 307 luxury rental apartments in studio to two-bedroom layouts, with 31 of these units reserved for households earning 80 percent of the area median income. The tower will also feature 1,800 squar…
Cliffside Park-Edgewater, NJ
News
Edgewater Real Estate Developer Fred Daibes Pleads Guilty To Bank Fraud
Fred Daibes, a 67-year-old real estate developer previously convicted of bribing disgraced New Jersey Sen. Bob Menendez, pleaded guilty to bank fraud on Thursday, Sept, 5, authorities said. The former CEO and chairman of the board of directors at Mariner's Bank pleaded guilty in Newark federal court to making false entries in connection with a $1.8 million loan from his bank in 2008, US Attorney Phillip Sellinger said. Daibes said the line of credit was for someone else, when it was actually for his benefit, Sellinger said. The loan said the source of repayment would be from the p…
New Rochelle, NY
Real Estate
Work Nears Completion On 27-Story Apartment Tower In New Rochelle
The superstructure of a 27-story luxury apartment tower located in the downtown area of a Westchester County city has been completed. The topping off of 33 Westchester Place in downtown New Rochelle, a tower that will contain 315 luxury apartments, was held on Monday, Aug. 19, according to developer Allstate Ventures. Work on the 27-story tower originally began in May 2023. When it is completed, the development will have 110 studios, 161 one-bedroom units, and 44 two-bedroom units. Each unit will boast built-in appliances, quartz counters, tiled walk-in showers,…
Lakewood, NJ
Real Estate
Luxury Hotel Replacing 3 Motels In Jersey Shore Borough Long-Reputed As Party Town
A Jersey Shore town that gained a reputation for being one of the best places to party while down the shore is getting a rebrand. And it's in part due to a luxury hotel set to replace three of the motels in Seaside Heights that haven't exactly been helping the family-friendly atmosphere. In a 6-0 vote last month, Seaside Heights council members approved the designation of a Boston-based redeveloper for the hotel, to be built on the Lincoln Avenue and Ocean Terrace lots where Dry Dock, Glendale, and Surfside motels currently stand. The firm, 6M Development, shared a brief description of the…
Port Chester, NY
Real Estate
5-Story Multifamily Residential Building Coming To Heart Of Port Chester
A five-story residential building containing more than 150 apartment units is set to be built in the center of a Westchester County village in close proximity to a Metro-North train station. The 1.44-acre development, to be known as the Station Lofts, will be located in Port Chester at 67 New Broad St. Developed by global real estate investment manager Hines and Toronto-based real estate investment manager Peakhill Equity Partners, the five-story building will include 180 studios, one-bedroom, and two-bedroom homes. The development will also have three levels of parking includi…
Newark, NJ
News
Ex-Deputy Mayor Of Newark Admits Taking $25K Bribe In Restaurant Bathroom: Feds
Carmelo Garcia, who previously served as deputy mayor of Newark and one term in the state General Assembly, admitted to taking $25,000 in bribes, federal authorities said. Garcia, 49, pleaded guilty to conspiring with two Newark business owners to obtain corrupt payments intended to influence and reward him for assisting them with the acquisition and redevelopment of various city-owned properties while serving on the Newark Department Economic and Housing Development, U.S. Attorney Philip Sellinger said. Between 2017 and 2019, Garcia sought and received significant mone…
Newark, NJ
News
Long-Vacant North Jersey Movie Theater Finally Getting Its Happily Ever-After
After several years of vacancy, a Montclair movie theater will soon be brought back to life. The Tudor-style Bellevue Theater in Upper Montclair has sat vacant since the prior operator's lease ended 2017, but at a meeting on Monday, June 10, redevelopment plans were unanimously approved. Bellevue Theater in Montclair. Google Maps The plans call for transitioning one of the four theaters into retail, there by connecting Upper Montclair Plaza to the retail of Bellevue, "a great win for all," said a spokesperson for RHG Architects + Design, who are working on the project. The…
Quincy, MA
Business
'Bittersweet': Popular Quincy Diner To Close This Summer After Legal Battle
A popular Quincy diner that has been a South Shore staple for years announced this week that it will close this summer rather than continue to fight with its new landlords. The Wheelhouse Diner posted a lengthy message on its Facebook page on Wednesday, May 15, explaining that the 453 Hancock Street restaurant would close on June 30. Owner LeeAnn Vieira McDonough called the decision to close "bittersweet," but said she plans to go "out with a bang." I love the Wheelhouse. My children grew up here and now work with me. I have watched other people’s children grow up here. I have …
Marlton-Evesham, NJ
News
Fate Of NJ Funeral Home Listed For $750K Raises Fears Among Locals
A concerned group of citizens in a quaint South Jersey town is hoping to change the fate of a shuttered funeral home steeped in history that's been put up for sale. The house at 334 Chester Ave., in Moorestown dates back to 1886, and was most recently the Lankenau Funeral Home. The funeral home sold the property to developers in 2022 for approximately $650,000, then, the developer subdivided the property and sold off a half-acre for a new home. The funeral home and an acre-and-a-half of land is what remains, and is listed at $750,000 on Zillow. "We're trying to preserve the…
Middletown, NJ
Business
$500 Million Open-Air Redevelopment Of Monmouth Mall Begins
A more than $500 million project to transform a Monmouth County mall into an open-air town center has officially begun, officials said. A groundbreaking ceremony was held on Thursday, May 9 at the Monmouth Mall in Eatontown, developer Kushner said in a news release on Monday, May 13. The mall will be redeveloped into a modern center with luxury apartments, new retail options, and medical office space called Monmouth Square. Kushner said the project to "de-mall" the property off Route 35 will bring a new purpose to the historic Monmouth Mall, which has been open for 64 years. …
Poughkeepsie, NY
Lifestyle
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 …
North Hunterdon, NJ
Business
Popeyes, Arby's Replace Former NJ Supermarket, 'Huge Crowd' Expected
Fast food fans in Warren County have waited long enough. A Popeyes and an Arby's are opening at 680 Memorial Pkwy. in Phillipsburg, at the site of a former Ahart supermarket. The Popeyes will be hosting a ribbon cutting ceremony on Friday, Jan. 12 at 4 p.m. while the Arby's will be opening on Tuesday, Jan. 16. Zach Liptak, owner of Phillipsburg-based ZRL Real Estate and Construction oversaw the project, which began in June 2022 when the original supermarket was torn down. Construction began last August and Liptak said they got the okay to open at 10 a.m. Friday morning. "I cannot tell you …
Albany, NY
Politics
Time For Longtime 'Eyesore' In Capital Region To Be Demolished, County Legislators Say (Poll)
After looming high above New York’s capital city for nearly a century, this local landmark may have finally worn out her welcome. Members of the Albany County Legislature are calling for Albany’s 11-story Central Warehouse building to be demolished following years of repeated failed attempts to rehabilitate the building. In a letter to Gov. Kathy Hochul and other state and federal leaders, Legislators Frank Mauriello and Paul Burgdorf requested that any public funds spent on “Albany’s greatest eyesore” go toward tearing it down and “starting from scratch.” “Though it once served as ‘an imp…
Middletown, NJ
Business
NJ Mall Is Getting Major Overhaul Complete With Luxury Apartments, Outdoor Entertainment Space
A major redevelopment of Monmouth Mall is about to begin, transforming the shopping center into luxury apartments, new retail options, and a town center. The developer, Kushner — with headquarters in Florham Park and New York City — is planning to convert the 64-year-old mall on Route 35 in Eatontown into a large attraction called Monmouth Square. Kushner's chief development officer Michael Sommer said the redevelopment will turn the mall inside out by tearing down indoor halls to create an open-air concept, with demolition set to begin in March. The intent is to …
Mahwah-Ramsey, NJ
Business
Mahwah's Sheraton Hotel Closes After Nearly 40 Years
The last guests have checked out. The Sheraton Hotel in Mahwah, which opened in 1986, officially shut its doors on Thursday, Dec.14, to be replaced by two warehouses at the 1 International Blvd. site. The 22-story hotel was the tallest structure in the township. "It's been a big part of our town for 37 years," Mayor Jim Wysocki said. "I was here when it was built. It was part of our family." The Sheraton employed many residents while also being the go-to spot for parties and weddings, Wysocki said. "It was a major part of our township," Wysocki said. "It's going to be tough."…
Norwalk, CT
Business
Historic Norwalk Bank Building Reimagined Into Healthcare/Banking Center
A historic Fairfield County bank building has been transformed into a modern state-of-the-art medical facility, with easy access for residents, while maintaining a branch of the bank inside. The transformation took place in Norwalk at Wells Fargo Bank at 637 West Ave. in Norwalk for Stamford Health, said Michael Serrao, chief operating officer of Seligson Properties. The $20 million renovation was designed to reposition the existing three-story, 27,000 square-foot building built in 1955 into 24,000 square feet of medical office space for multi-specialty care and physical therapy on the…
Fairfax, VA
News
Massive Development Could Transform Fairfax Into Entertainment Haven
The fate of a massive hotel and performing arts center are in the hands of Fairfax City officials. Plans for The Ox Fairfax located along University Drive and Chain Bridge Road, were submitted earlier this month by developer Ox Hill Companies. The plans include a concert venue with a maximum capacity of up to 4,100 people designed to attract musical acts and other forms of live entertainment; a 163-room hotel; luxury condos; a distillery; conference center and more. According to the developer, the idea for The Ox Fairfax is to integrate historical buildings into the project …
Parsippany-Troy Hills, NJ
Real Estate
Luxury Apartment Construction Underway At Former Morris County Office Building Site
Construction has begun at 147 Columbia, a group of luxury apartment rentals at a former Morris County office building site. Located just steps from downtown Florham Park at 147 Columbia Turnpike, the 126 high-end apartments help emphasize the drive for the repurposing of outdated commercial properties throughout the state, Garden Communities’ managing director Scott Loventhal says. “Sustained demand for high-quality multifamily housing continues unabated,” said Loventhal. “We took full advantage of this well-located site to create an intimate rental community in a desirable municipality wit…
Egg Harbor Township, NJ
News
$2.7B Project Will Turn Old Atlantic City Airport Into Formula 1 Racetrack
A $2.7 billion development project is set to turn an old Atlantic City airport into a Formula 1 racetrack with condos and stores, officials said. Atlantic City Council gave the go-ahead, by an 8-0 vote, to the project to redevelop Bader Field during a meeting on Wednesday, March 22. Mayor Marty Small Sr. held a ceremony to sign the Memorandum of Understanding with the project's developer, DEEM Enterprises LLC, at Bader Field on Thursday, March 23. "Not only is it a great day, it's a historic day," Small said. "This has been a long time coming." It will give taxpayers relief, and redu…
Egg Harbor Township, NJ
News
Atlantic Club Casino To Be Developed Into Luxury Condominiums: Reports
A vacant property previously known as a popular boardwalk hotel will be developed into luxury condominiums, NJ Advance Media reports. Rocco Sebastiani, the president of Colosseo Atlantic City Inc. — the New York investment and construction firm that owns the Boardwalk property— told the outlet that plans to convert the former casino at 3400 Pacific Ave. into high-priced residences are in motion. Last known as the Atlantic Club Casino Hotel, the popular boardwalk destination shuttered more than eight years ago. The property has eight current tax liens against it, Atlantic City spokesperson …
Port Chester, NY
Business
Developer Closes Deal On 203-Unit Mixed-Income Housing Parcel In Port Chester
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…
White Plains, NY
Business
Owners Looking To Transform Galleria At White Plains
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…
Bowie, MD
News
Former FBI Agent From Maryland Convicted Of Bribery, Conspiracy Scheme With DC Realtor
A former FBI agent and real estate developer have been convicted of federal bribery and conspiracy charges, the Department of Justice announced. The former agent, David Paitsel, 41, of Upper Marlboro in Maryland, and Brian Bailey, 52, a real estate developer formerly based in Washington, DC, were found guilty following a trial in the US District Court for the District of Columbia, according to officials. Specifically, Bailey was found guilty of two counts of bribery and two counts of conspiracy for giving thousands of dollars in bribes to a program specialist with the District of Columbia D…
Jersey City, NJ
Real Estate
Historic Jersey City Matzo, Tea Factories Redeveloped In $121.5 Million Deal (
Photos
)
A luxury home developer is partnering with a New York City company to develop a Jersey City condominium community located in an area formerly home to the historic Manischewitz matzo factory and Great Atlantic and Pacific Tea Company warehouse. Toll Brothers and Sculptor Capital Management will be developing the 34-story 259-unit building at 151 Bay St., in Jersey City. Located within the Powerhouse Arts District in Jersey City, 151 Bay St. is being financed through a $121.5 million construction loan from Wells Fargo. The development will consist of 259 studio- to three-b…
Dorchester, MA
News
Neiman Marcus Sues Boston Mall Owners For $50 Million Over Contract Breach
Neiman Marcus said it lost millions of dollars after it agreed to shrink the size of its store to allow for the construction of a skyscraper in Boston's Back Bay neighborhood. Those plans fell through, and now the retailer is suing the developer for $50 million to recoup the money Neiman Marcus says it lost because of the project. Neiman Marcus filed a lawsuit on Tuesday, July 19, in Suffolk Superior Court against Simon Property Group, the owners of Copley Place mall. Simon Property had planned to build a 52-story residential high-rise above the retail store at 5 Copley Pl…
Northern Valley, NJ
Real Estate
Lakeshore Estates Debuts Two Furnished Townhome Models
Two new fully-furnished model homes are available to tour at Lakeshore Estates (lakeshorenj.com), dramatically showcasing the full potential of the new community of 32 luxury townhomes rising in Haworth, Bergen County, New Jersey. “This is another exciting milestone as we continue to craft a lifestyle that infuses the best of Bergen County living with the modern convenience of a new townhome,” said Vitali Feldman of Rock Solid Builders (njrocksolid.com), a local builder with over a decade of experience building for the Bergen County luxury buyer. Just 20 miles from Manhattan, Lakeshore Esta…
Marlton-Evesham, NJ
News
NY Developer Agrees To Pay $670K In Liens, Taxes In Burlington County: Prosecutor
A NY developer's five-year prison sentence has been suspended in exchange for paying off $670,000 in liens and unpaid taxes in Burlington County. The payments came in conjunction with the sentencing on Wednesday, April 6 of Raphael S. Weiss, 61, of Brooklyn, on charges of forgery and computer-related activity in exchange for a suspended five-year prison sentence, according to Burlington County Prosecutor Scott Coffina. The developer purchased a historic Riverside Township commercial building to create luxury apartments. He has transferred ownership of the property under his sentencing agree…
Massapequa, NY
Lifestyle
Groundbreaking Starts For Phase 2 Of Major Mixed-Use Hub On Long Island
The second phase of construction of a $700 million major mixed-use development on Long Island is now underway. The groundbreaking for phase two of construction of the Ronkonkoma Hub in the Suffolk County town of Brookhaven took place on Wednesday, Nov. 3, according to an announcement from Gov. Kathy Hochul. State officials said the second phase will include the creation of: 388 housing units 73,000 square feet of commercial space 15,500 square feet of office space More than 1,200 parking spaces "The Ronkonkoma Hub will be a major leap forward in building New York's economy and revitalizin…
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