The property is currently 96% leased to 27 tenants across diverse industries including wholesale and distribution, healthcare, financial services, logistics, and construction.
For the first time, the budget also provides for the sharing of a modest portion of sales-tax revenues, estimated to total about $2.3 million in 2026, with all Putnam County towns and villages.
One of the most important process improvements in the agreement involves the ability to increase the use of commercial title insurance in certain instances.
Jenkins blamed rising costs along with lower-than-expected sales tax revenue are the chief contributors to the significant budget gap the county is contending with.
“Home sales have struggled to gain traction, but prices continue to rise, contributing to record-high housing wealth,” said NAR Chief Economist Lawrence Yun.
New York recorded the lowest turnover rate among the top 50 metros, with only around 10 out of every 1,000 homes selling in the first nine months of the year.
The share of first-time buyers in the market has contracted by 50% since 2007—right before the Great Recession. The implications for the housing market are staggering.
“The decision reflects the progress of our Tarrytown project, which is providing additional lab and office space to meet the needs of our growing R&D pipeline, as well as our desire to keep more colleagues together on fewer campuses.”
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