While Gov. Hochul vowed to provide funding to adequately finance MTA projects, at press time no firm plans have been released.
According to the FBI’s 2023 Internet Crime Complaint Center Report, there were more than 101,068 complaints filed by individuals over 60 years old resulting in more than $3.4 billion in losses in 2023.
A well-known business leader, Weale was perhaps best known for co-founding Country Bank in Carmel and later serving as President and CEO of the Putnam County Economic Development Corp. for 13 years.
The Westchester County Legislature will soon be considering a bill to mandate that co-op boards provide a reason in writing stating why the co-op board is rejecting a prospective purchaser. The Hudson Gateway Association of Realtors has long advocated for such transparency when a buyer is rejected. This is a much-needed modification to the current law wherein a board need only provide a notice of rejection to the Human Rights Commission of Westchester County if the prospective purchaser is denied.
The current law thus far resulted in approximately 300 rejections of prospective purchasers of co-ops that we know of in just over a year’s time. This indicates, that at the very least, an investigation is warranted and a reason in writing should be sent to buyers stating why they are being denied.
If the co-op boards are upholding the law then they should not be concerned regarding the consequences of their actions. This, unfortunately, is an area of housing where there is very little transparency.
The current time lines are 15 days from receipt of application to notify a buyer that the board is in receipt of their application and an additional 60 days thereafter to decide whether or not the applicant has been accepted. It may also make sense to make this timeline shorter since 60 days seems an inordinate time frame for an applicant to be in limbo.
The one component that would also improve this law, and is not currently included, would be to mandate that a co-op board automatically accept an applicant if they have not provided a reason or have not notified the buyer if they have been rejected within the legal time limits. This would provide more certainty to the market. Stay tuned for updates on the legislation at the state and local level.
The strategic planning process has engaged stakeholders across all levels of the organization, fostering a culture of openness and collaboration.
Station Lofts will consist of a five-story, 180-unit Class A multifamily residential development, ranging from studios to two-bedroom homes.
Elected officials, seeking to appease vocal constituents, frequently uphold restrictive zoning laws that favor single-family residences over more diverse housing options.
Located at 23 Mulberry St. in the Hollow neighborhood of South Yonkers, the $48 million, four-story building has 60 energy-efficient, affordable apartments for seniors.
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