The property is currently 96% leased to 27 tenants across diverse industries including wholesale and distribution, healthcare, financial services, logistics, and construction.
More supply is needed to increase the share of first-time homebuyers in the coming years even though some markets appear to have a temporary oversupply at the moment.
Neuhaus, who is a graduate of Mount Saint Mary in Newburgh, noted the long-standing issues with the property, saying, “The obituary for this site was written decades ago. You are bringing this place back to life.”
In a July 15 ruling, District Court Judge Dale Kimball wrote that Homie had failed to show that NAR and large brokerage companies named in the suit—Anywhere Real Estate, HomeServices of America, and RE/MAX—had conspired to cause antitrust injury to the company.
Treasury yields finished higher last week on average despite an intra-week drop, driven partly by renewed concerns of the impact of tariffs on the economy.
The cost of acquiring the vacant 12.43-acre site is $3.9 million. According to its application with the IDA, building and construction is estimated to cost $17,864,850 and equipment costs have been put at $13,136,536.
Bally’s Bronx, as proposed to the New York State Gaming Commission late last month, was to stand approximately 250 feet tall and include a 500,000-square-foot Gaming Facility structure and span more than 3 million square feet.
Under county ownership, the center will be revitalized and developed into a regional destination for live performances, educational programming, and community events.
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