All members of the FOMC voted in favor of the 25-basis-point cut with the exception of newly appointed member Stephen I. Miran, who preferred to lower the target range for the federal funds rate by 50 basis points.
MAMARONECK—The Scrima Gorman Real Estate Team at Houlihan Lawrence Commercial, a division of Houlihan Lawrence, reported recently that it had brokered the sale of a luxury multifamily building located at 422 E Boston Post Road in Mamaroneck for $11 million.
The seller and Buyer were both represented by Michael Scrima and Tom Gorman. The seller was Elk Homes LLC.
Built in 2017 by Elk Homes, this luxury property boasts average rents north of $6,000 a month. The 13-unit building traded for $846,156 per unit, which is a record for Mamaroneck and the second highest price per unit in Westchester County.
Houlihan Lawrence stated in an announcement that the “transaction underscores the resilience of the Westchester County commercial real estate market and the strong demand for high-quality multifamily properties in the region. Moreover, we have seen many investors shift their focus to new construction, Class A buildings—partly driven by New York State’s increasingly restrictive rent laws.”
Houlihan Lawrence Commercial, a full-service division, specializes in Investment Opportunities; Office, Industrial and Retail Sales and Leasing; Land Acquisition and Development; Municipal Approval Consultation. Houlihan Lawrence is the leading real estate brokerage serving New York City’s northern suburbs. Founded in Bronxville, New York, in 1888, the company is deeply committed to technological innovation and the finest client service. The company has 32 offices and 1,450+ agents serving Westchester, Putnam, Dutchess, Columbia, Ulster and Orange counties in New York and Fairfield County in Connecticut.
All members of the FOMC voted in favor of the 25-basis-point cut with the exception of newly appointed member Stephen I. Miran, who preferred to lower the target range for the federal funds rate by 50 basis points.
The CAC will meet on Thursday, Sept. 25 at the Yonkers Riverfront Library at 10 a.m., where it will likely vote on whether to approve or disapprove the MGM Empire City plan.
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