News
NY State Funding Will Allow Second Avenue Subway Project to Continue During Congestion Pricing Pause
The capital funding provided to the Metropolitan Transportation Authority will be earmarked towards the utility relocation contract for Phase 2 of the expansion project, which will deliver subway service to residents of East Harlem.
Gov. Hochul’s Pause on Congestion Pricing Spurs Two Lawsuits Seeking to Compel its Reinstatement
While Gov. Hochul vowed to provide funding to adequately finance MTA projects, at press time no firm plans have been released.
OBITUARY: Business Leader, Veteran Banker Ross Weale Passes Away at Age 85
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.
Existing U.S. Home Sales Slipped 5.4% in June; Median Sales Price Jumps to Record High of $426,900
Existing-home sales in the Northeast in June withdrew 2.1% from May to an annual rate of 470,000, a decline of 6% from June 2023.
Brokers Beware: ‘Freelance Isn’t Free Act’ Goes into Effect on Aug. 28
One requirement of the law mandating the use of written contracts for compensation will impact NYS brokers significantly.
Median Single-Family Home Sales Prices in June Rose Sharply in Almost Every Region
Sales were down in all counties in the Hudson Gateway Association of Realtors market area, with Orange County posting the largest decline in single-family home sales at 26.9%.
New NYS Deed Theft Law Now in Effect
Under previous law in New York State, deed theft itself was not a crime.
Battery Park City Authority to Provide $500 Million to Build, Preserve Affordable Housing in NYC
As Battery Park City was being developed, the BPCA entered into long-term ground leases with developers, generating lease revenue from commercial and residential buildings.
Weichert, Realtors Names Judit Agod Regional President of Bergen County, NJ/New York State
Agod will be responsible for the management and growth of Weichert offices in Ridgewood, Tenafly and Fort Lee, NJ, as well as Monroe, Larchmont and Rockland County, NY.
BARRISTER’S BRIEFING: The NAR Settlement Agreement: Understanding its Impact and New Forms
OneKey has established that effective Aug. 8, 2024, they will no longer display any offers of cooperating compensation to any cooperating brokers.
Annual Foreign Investment in U.S. Existing Homes Sales Dropped 21.2% to $42 Billion
At $1.3 million, Chinese buyers had the highest average purchase price, with 25% purchasing property in California.
Hines and Peakhill Partners Form JV to Develop Multifamily Project Near Port Chester Train Station
Station Lofts will consist of a five-story, 180-unit Class A multifamily residential development, ranging from studios to two-bedroom homes.