Estate famed for turtle soup has new distinction: $11M sale price

A historic waterfront property in Westchester has come a long way since New Yorkers gathered there to nosh on … turtles. The estate at 25 Park Avenue just changed hands for $11.3 million in Larchmont’s highest-grossing residential sale ever. In getting their asking price, the sellers broke the Larchmont record they had set by paying $10.4 million for the same home in 2006. “We went into contract within two weeks of the house being on

The post Estate famed for turtle soup has new distinction: $11M sale price appeared first on The Real Deal New York.

Scott Rechler’s RXR gets mega-refi for Yonkers project that proved critics wrong

When RXR Realty broke ground in December 2016 on a two-tower luxury rental development in Yonkers, skeptics said the “if you build it, they will come” strategy would not work there. But come they did. The success of Sawyer Place allowed RXR Realty to recently land a $160-million refinancing for the multifamily complex. Scott Rechler-led RXR, in conjunction with Yonkers-based Rising Development, completed the 438-unit project in the heart of Yonkers’ downtown near the Metro-North

The post Scott Rechler’s RXR gets mega-refi for Yonkers project that proved critics wrong appeared first on The Real Deal New York.

Residential market picks up in Brooklyn and Manhattan, sinks in suburbs

Making sense of the residential market has been a challenge throughout the pandemic. It began with a ban on showings, and listings falling like the Mets in September. Then came a surge of demand as work-from-homers sought more space, renters accelerated their homebuying plans and single-family-home investors spiked the punch. As Covid erupted, retreated, came back and receded again, the New York area market’s traditional ebb and flow was distorted almost beyond recognition, skewing year-over-year

The post Residential market picks up in Brooklyn and Manhattan, sinks in suburbs appeared first on The Real Deal New York.

George Comfort & Sons escapes foreclosure on Westchester office campus

It was a close call. George Comfort & Sons’ last-ditch refinancing effort has kept its Westchester office campus from being foreclosed by its mezzanine lender, an affiliate of Oaktree Capital Management. The $134 million refinancing deal that rescued the Manhattan-based landlord’s Centre at Purchase office campus consists of a $105 million mortgage loan from Bank of America and a $29 million mezzanine loan from real estate lender RCG Longview, according to George Comfort & Sons.

The post George Comfort & Sons escapes foreclosure on Westchester office campus appeared first on The Real Deal New York.

Crow Holdings, Marcus Partners teaming up for luxury Westchester multifamily

Two developers are teaming up on their first multifamily project in New York, a 450-unit luxury residence in Westchester County. Trammell Crow Residential, the multifamily development arm of Crow Holdings, and Marcus Partners are developing the Alexan Harrison in Harrison, New York, the companies announced Thursday. The developers broke ground in August and aim to complete the project in April 2024. The five-story luxury residence at 3 Westchester Park Drive will consist of two buildings

The post Crow Holdings, Marcus Partners teaming up for luxury Westchester multifamily appeared first on The Real Deal New York.

Trump Organization facing criminal probe over Westchester golf course

The Trump Organization is reportedly facing another investigation, this time into dealings at the Trump National Golf Club Westchester in Briarcliff Manor. The business is facing a criminal investigation led by Westchester County District Attorney Mimi Rocah, according to The New York Times, which cited sources familiar with the matter. The office has so far subpoenaed records from the golf course and Ossining, responsible for the golf club’s property taxes. Rocah appears to be looking

The post Trump Organization facing criminal probe over Westchester golf course appeared first on The Real Deal New York.

DeNardo Capital loses Westchester condo project to UCC foreclosure

DeNardo Capital Management’s hail-mary attempt to save its Westchester County luxury condo development from foreclosure has fallen short of the goal line. Lenders Specialty Credit Holdings and Zee Bridge Capital were the winning bidders for the more than 250,000-square-foot site in a UCC foreclosure sale, according to a filing in Westchester County Bankruptcy Court. The planned development, known as Marker 27, was supposed to consist of 12 two-story buildings resembling single-family homes. It was pegged

The post DeNardo Capital loses Westchester condo project to UCC foreclosure appeared first on The Real Deal New York.

Hudson Valley housing market remains hot in Q3

Though New York City is welcoming back a steady stream of renters and workers, Hudson Valley’s housing market shows no signs of slowing down. Median prices for single-family homes and the total number of sales soared for nearly every county as the Hudson Valley, according to a report from the Hudson Gateway Association of Realtors. In Westchester County, 2,377 single-family homes were sold in the third quarter, a 9 percent rise from the same period

The post Hudson Valley housing market remains hot in Q3 appeared first on The Real Deal New York.

56-unit senior living complex proposed in Mount Vernon

A proposed senior living building in Mount Vernon could offer visitors a pharmacy and restaurant in addition to time with their loved ones. Marwan Abdullah, owner of Sammy Properties, has proposed an eight-story senior living development at 505 Gramatan Avenue, which currently houses Fleetwood Pharmacy. The development would have 56 units, according to the Westchester & Fairfield County Business Journals. The architect told the Business Journals the available units would include five studios, 35 one-bedroom

The post 56-unit senior living complex proposed in Mount Vernon appeared first on The Real Deal New York.