LEGAL CORNER: NYC Passes the FARE Act and Restricts the Payment of Commissions by Tenants
The real estate industry has expressed concerns regarding the potential repercussions of the FARE Act.
YORKTOWN HEIGHTS—The Guiding Eyes For the Blind has acquired a 12-acre development parcel at 3241 Crompond Road (Route 202) in Yorktown Heights for $4 million.
The deal was announced on July 11 by Houlihan Lawrence Commercial, a division of Houlihan Lawrence based in Rye Brook.
The seller was Temple Israel of Northern Westchester. The seller was represented by Garry Klein, Managing Director of Houlihan Lawrence Commercial. The buyer was represented by Executive Vice President William Cuddy Jr. and Senior Vice President Jacqueline Novotny, both affiliated with CBRE.
The land is the same parcel where Temple Israel was approved to build a new synagogue more than 15 years ago, but never broke ground, according to a report published by newyorkyimby.com.
The Guiding Eyes For the Blind has proposed to construct a two-story 30,000-square-foot school and kennel with associated site improvements including site remediation, a wetland crossing, tree removal, stormwater management, parking, landscaping, and lighting, according to Houlihan Lawrence Commercial.
“The land parcel was extremely well located on a major throughfare with 700 feet of frontage and great access to the Taconic State Parkway. This property represented one of the last large landholdings along the Route 202 corridor,” Klein said.
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