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Yearly Archives: 2013

President Obama Signs Maloney’s Disabled Veterans Red Tape Reduction Act into Law

Washington, D.C. - December 23, 2013 - (RealEstateRama) -- The President signed into law today the VA Expiring Authorities Extension Act, which included a bill authored by Rep. Maloney to help address the Veterans Administration (VA)’s backlog of disability claims. Earlier this year, Representative Sean Patrick Maloney introduced the Disabled Veterans Red Tape Reduction Act, HR 1521, to allow veterans to have their medical examinations done by physicians outside the VA system to help process veterans’ disability claims faster.

SCHUMER: OVER 900 HOMES AFFECTED BY NISSEQUOGUE RIVER’S RECURRING FLOODING PROBLEM; URGES FEMA TO...

New York, NY - December 23, 2013 - (RealEstateRama) -- U.S. Senator Charles E. Schumer today urged the Federal Emergency Management Agency (FEMA) to approve Suffolk County’s application for hazard mitigation grants that would help support the Northeast Branch Nissequogue River Restoration Project. The project will mitigate recurring groundwater flooding that impacts residents and businesses around Miller’s Pond and the Northeast Branch of the Nissequogue River. Over 900 homes have been identified as having experienced damaged related to the flood hazard in this area. Schumer today pushed for funding through FEMA’s hazard mitigation grant to improve the storm water infrastructure. Schumer also urged the New York State Office of Emergency Management to include this project in their final list of Hazard Mitigation Grant (HMGP) projects submitted to FEMA by late January

Governor Cuomo Announces More Than $23 Million to Build and Preserve More Than 600...

Albany, NY - December 23, 2013 - (RealEstateRama) -- Governor Andrew M. Cuomo today announced 10 awards totaling $23.7 million to create or preserve high quality affordable housing and spur economic growth in regions around the state, awarded through New York State Homes and Community Renewal (HCR).

Sen. Klein, Joined by Dozens of Victimized Bronx Homeowners, Announce Filing of Class Action...

BRONX, NY - December 23, 2013 - (RealEstateRama) -- Standing on the steps of the Bronx County Supreme Court, Senator Klein, joined by dozens of Bronx homeowners and Assemblyman Marcos Crespo (D-Bronx), announced that a lawsuit charging fraud, conspiracy, breach of contract and negligence had been filed against members of an elaborate scheme targeting first time, minority homeowners. Homeowners allege that the defendants, working in concert, (referenced to as the “Tota-Kash Group” in the complaint), bilked them for millions of dollars by inducing them to purchase homes in the Bronx without valid certificates of occupancy and with shoddy workmanship

WARBURG REALTY® ANNOUNCES WENDY GREENBAUM AS TOP SALES AGENT IN 2013 AT FIRM’S ANNUAL...

New York, NY - December 20, 2013 - (RealEstateRama) -- Warburg Realty®, one of Manhattan’s leading residential real estate companies, announced leading broker Wendy Greenbaum as the Top Sales Agent in 2013 at the firm’s annual holiday party this week. A broker in the firm’s 654 Madison Avenue office, she is one of the eight original shareholders of Ashforth Warburg Associates, Warburg’s predecessor corporation.

Mangano Rescues Troubled Affordable Housing Opportunities In New Cassel

WASHINGTON, D.C. - December 20, 2013 - (RealEstateRama) -- Nassau County Executive Edward P. Mangano today announced the approval of an Industrial Development Agency (IDA) economic development compact that will allow Bedford Construction Group, a Valley Stream developer, to rescue an abandoned and incomplete affordable housing opportunities and retail space in New Cassel. The project, which began in 2005 and then was halted, is expected to be complete within six months. The project includes the completion of 12 apartments, seven affordable and five at market rate, in an underserved community

A.G. Schneiderman Announces National Multi-Billion Dollar Settlement With Mortgage Servicing Giant OCWEN Financial Services

NEW YORK - December 20, 2013 - (RealEstateRama) -- Attorney General Eric T. Schneiderman today announced a settlement with mortgage servicing giant Ocwen Financial Services over alleged improprieties by the company and its subsidiaries related to mortgage servicing and foreclosure practices. The national settlement, the result of a joint investigation by the Consumer Financial Protection Bureau, state banking regulators, and 49 state attorneys general, will bring more than $2 billion in relief to consumers in all 50 states. New York is expected to fare particularly well, with $292,716,793 in first-lien principal reductions going to homeowners across the state

Empire State housing market momentum continues into November

Albany, NY - December 19, 2013 - (RealEstateRama) -- The Empire State’s November housing market posted a 4.8-percent increase in closed sales compared to a year ago, according to the housing market report released today by the New York State Association of REALTORS. The strong buyer activity also drove a 9-percent growth in the median sales price compared to November 2012

AFTER SIGINIFICANT PUSH, SCHUMER ANNOUNCES USDA TO AWARD $7.5 MILLION TO FUND BLUEBELT EXPANSION...

New York, NY - December 18, 2013 - (RealEstateRama) -- U.S. Senator Charles E. Schumer today announced that, after his significant push, the U.S. Department of Agriculture (USDA) has agreed to provide $7.5 million to fund the New York City Department of Environmental Protection’s (DEP) plans to expand the Staten Island Bluebelt. New York City applied for funding created in the Schumer-sponsored Sandy Relief Bill through the Emergency Watershed Protection Program (EWP) under the USDA’s Natural Resources Conservation Service (NRCS).

NYSERDA Announces Whole Foods Market Flagship Store in Brooklyn Uses Energy Efficiency and Renewable...

New York, NY - December 16, 2013 - (RealEstateRama) -- The New York State Energy Research and Development Authority (NYSERDA) today announced the completion of Whole Foods Market Third & 3rd in Brooklyn (214 3rd Street), which will employ 425, as a model of energy efficiency and commitment to protecting the environment. The 56,000-square-foot supermarket, the company’s flagship store in Brooklyn, is located in the Gowanus neighborhood and has been constructed following a significant brownfield clean-up by Whole Foods Market. Its grand opening was today.

Rep. Maloney Criticizes FHFA Proposal to Gradually Reduce Conforming Loan Limits

WASHINGTON, DC - December 17, 2013 - (RealEstateRama) -- Congresswoman Carolyn B. Maloney (NY-12) today criticized a Federal Housing Finance Agency (FHFA) proposal that could result in reduced access to mortgages for middle-class families. Maloney, the top Democrat on the House Financial Services Subcommittee on Capital Markets and Government Sponsored Enterprises, says that reductions in conforming loan limits being considered by FHFA would cut thousands of families out of the housing market by forcing them to seek private mortgages, which typically require credit scores above 760 and average down payments of nearly 34 percent

Governor Cuomo Receives End of Year Progress Report on NY Works Initiative

Albany, NY - December 16, 2013 - (RealEstateRama) -- Governor Andrew M. Cuomo today received an end of the year progress report on the NY Works Initiative showing investments of $1.6 billion in vital infrastructure projects statewide, including $1.2 billion to repair and rebuild roads and bridges, $265 million to improve parks, and $142 million to protect coasts from floods. NY Works projects have also supported tens of thousands of direct jobs around the state. Director of State Operations Howard Glaser presented the results of the report at the Governor’s cabinet meeting today.

COURT RULES FOR ROSENBERG & ESTIS, P.C. CLIENT, GETTY PROPERTIES CORP, IN GAS STATION...

New York, NY - December 16, 2013 - (RealEstateRama) -- New York State Supreme Court Justice Melvin L. Schweitzer has issued two rulings in favor of landlord Getty Properties Corp. in a gas station holdover dispute, holding the defendants in criminal and civil contempt. Defendants in the case consist of 19 limited liability companies (the LLCs), Robert Del Gadio, who is the principal of, and the attorney for, the LLCs, and Frank Mascolo. The landlord was represented in the proceedings by Rosenberg & Estis, P.C. founding partner Warren A. Estis and partner Howard W. Kingsley.

WARBURG REALTY® APPOINTS TWO NEW AGENTS

New York - December 13, 2013 - (RealEstateRama) -- Warburg Realty®, one of Manhattan’s leading residential real estate companies, today announced Judy Bauer and Amy Fromer have joined the firm. A licensed real estate broker, Judy has an extensive background in real estate.

A.G. Schneiderman Announces $2.2m In New Funding For Innovative Sustainable Homes Programs In Buffalo,...

BUFFALO - December 13, 2013 - (RealEstateRama) -- Attorney General Eric T. Schneiderman announced today that he is providing nearly $2.2 million for a two-pronged expansion of the highly-successful Buffalo Green and Healthy Homes Initiative (BGGHI), a program that has already helped more than 200 of Buffalo’s neediest families lower their energy bills and eliminate serious home health and safety hazards in older

Meng Sends Letter Opposing Proposed Homeless Shelter in Glendale

WASHINGTON, D.C. - December 13, 2013 - (RealEstateRama) -- U.S. Rep. Grace Meng (D-Queens) today reaffirmed her opposition to the planned homeless shelter in Glendale, Queens.

Governor Cuomo Deploying Mobile Command Center to Long Island to Deliver Foreclosure Prevention Help...

Albany, NY - December 12, 2013 - (RealEstateRama) -- Governor Andrew M. Cuomo today announced that he is deploying the Department of Financial Services’ (DFS) Mobile Command Center (MCC) to Long Island to provide foreclosure prevention assistance to financially struggling homeowners.

A.G. Schneiderman Commends Governor Cuomo And Commissioner Lawsky For Issuing New Regulations To Help...

NEW YORK - December 11, 2013 - (RealEstateRama) -- Attorney General Eric T. Schneiderman today praised Governor Andrew M. Cuomo and Benjamin M. Lawsky, Superintendent of the Department of Financial Services, for issuing new regulations permitting “shared appreciation” mortgage modifications in New York State. Under a shared appreciation modification, a bank or mortgage servicer agrees to reduce the outstanding principal balance on a borrower’s mortgage in exchange for a share of any future increase in the value of the home. For borrowers who are underwater on their mortgage, owing more than their home is worth, shared appreciation modifications can significantly improve their chances of avoiding foreclosure

Mangano Opens Transit Oriented Affordable Rental Opportunities In Hempstead

New York, NY - December 10, 2013 - (RealEstateRama) -- Nassau County Executive Edward P. Mangano today officially opened Village Lofts, a 29-unit transit-oriented rental development in the Village of Hempstead. This new housing opportunities, located at 479 Front Street, contain 23 (80%) workforce housing units and 6 (20%) affordable housing units. Village Loft is one of several residential developments assisted by the Mangano administration. Other projects include Jefferson Plaza in Farmingdale (154 units – under construction), Landmark in Great Neck Plaza (93 units – now open), Mill Creek Residential in Mineola (311 units – under construction), Mineola Properties in Mineola (315 units – under construction) and MPA Owners in Westbury (6 units – under construction).

Governor Cuomo Announces Proposal to Expand Mortgage Relief for Underwater Homeowners Through Principal Reduction

Albany, NY - December 10, 2013 - (RealEstateRama) -- Governor Andrew M. Cuomo today announced that his Administration is proposing to expand the mortgage relief options available to struggling ‘underwater’ homeowners, who owe more than the current market value of their homes. The Department of Financial Services (DFS) is issuing proposed regulations that would authorize and encourage “Shared Appreciation” mortgage modifications in New York. Under a shared appreciation modification, banks and mortgage servicers reduce the amount of principal outstanding on a borrower’s mortgage in exchange for a share of the future increase in the value of the home.

SCHUMER CALLS FOR FEDERAL HURRICANE SANDY RELIEF FUNDS TO BUILD BREEZY POINT DUNES; NEW...

New York, NY - December 10, 2013 - (RealEstateRama) -- U.S. Senator Charles E. Schumer today called for federal Hurricane Sandy relief funds to be used to create a new dune flood-protection system in Breezy Point that would make its residents safer and enable the community to be better prepared to withstand subsequent storms. Similar dune protection systems are already under way across the rest of the Rockaway Peninsula, but not yet at the far-western end, which leaves this community exposed to future storms.

SCHUMER: NEARLY 6,000 VETS LIVE IN HERKIMER COUNTY BUT MANY DON’T UTILIZE PROPERTY TAX...

New York, NY - December 5, 2013 - (RealEstateRama) -- Today, at the Frankfort Village Hall, U.S. Senator Charles Schumer launched a two-pronged plan to help ensure that veterans returning home to Herkimer County from Iraq and Afghanistan are receiving critical benefits that will allow them to afford a home and live stable civilian lives. Schumer said that nearly 6,000 veterans live in Herkimer but many have not applied for the property tax benefit for veterans that is available to them and worth hundreds of dollars a year

Bellone, Krupski, LaValle and Riverhead Officials Announce Support for Continued Downtown Revitalization of Riverhead

Riverhead, NY - December 3, 2013 - (RealEstateRama) -- Today, County Executive Bellone was joined by Suffolk County Legislator Al Krupski, NYS Senator Ken LaValle, Riverhead Town Supervisor Sean Walter, the Long Island Housing Partnership, the Woolworth Revitalization LLC and a host of community members to announce support and the submission of legislation to provide $250,000 in capital funds to offset infrastructure costs associated with utility improvements, drainage and excavation for the rehabilitation of the old Woolworth building in downtown Riverhead.

Workers at High Line Luxury Buildings Tell Management: New York Shouldn’t Just Be Livable...

As developers hike prices for luxury apartments to take advantage of the now-desirable real estate along the High Line, janitors and doormen who work in the buildings that buttress the park are not sharing in the good times. A penthouse recently sold for $6.8 million in a building that Mick Jagger and Nicole Kidman call home while in other buildings one-bedrooms go for $1.6 million. Meanwhile workers make as little as $11 an hour and don’t have health care coverage. The workers want one New York for #AllofUs.

HPD, HDC & NYCHA Join SKA Marin and Partners to Celebrate the Ribbon-Cutting for...

Brooklyn, NY - December 3, 2013 - (RealEstateRama) -- The New York City Department of Housing Preservation and Development (HPD) Commissioner RuthAnne Visnauskas, New York City Housing Development Corporation (HDC) President Marc Jahr, the New York City Housing Authority (NYCHA) Chairman John Rhea, the U.S. Department of Housing and Urban Development (HUD) New York Hub Multi-Family Director Teresa Bainton, and Brooklyn Borough President Marty Markowitz joined SKA Marin, the Calvary Church of God, Catholic Charities of Brooklyn and Queens, and partners to celebrate at the ribbon-cutting ceremony for Riverway Apartments. Located at 230 Riverdale Avenue in Brooklyn, this new development provides 115 units of affordable housing with onsite supportive services to seniors 62 years of age and older