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Monthly Archives: October 2013

Schumer, Menendez & Bipartisan Coalition Announce Legislation to Protect Homeowners From Flood Insurance Rate...

WASHINGTON, DC - October 31, 2013 - (RealEstateRama) -- On the one year anniversary of Superstorm Sandy, U.S. Senator Charles E. Schumer and a bipartisan coalition of members today announced they will introduce the Homeowner Flood Insurance Affordability Act which will protect millions of homeowners from facing huge flood insurance premium rate hikes and require FEMA to complete an affordability study and propose real solutions to address affordability issues before any flood insurance premiums can be raised in the future. The bill is sponsored by Robert Menendez (D-NJ) and Johnny Isakson (R-GA) and co-sponsored by Chuck Schumer (D-NY), Senators Mary Landrieu (D-AR), David Vitter (R-LA), Jeff Merkley (D-OR), John Hoeven

A.G. Schneiderman Announces First Round Of Awards For $20 Million Program To Rebuild And...

BUFFALO - October 31, 2013 - (RealEstateRama) -- Attorney General Eric T. Schneiderman today announced more than $12.4 million in grant funding for land banks in Erie County/Buffalo, Rochester, Syracuse, Chautauqua County, Newburgh, and Suffolk County. The grants represent the first round of competitive funding awards under the Attorney General’s Land Bank Community Revitalization Initiative. This two-year, $20 million program provides funds from last year’s National Mortgage Settlement with the nation’s largest banks to help communities rebuild and restore neighborhoods hit hard by the housing crisis

EVO Real Estate Group Negotiates Seven Commercial Leases For Tenants from Midtown to Chelsea

NEW YORK CITY - October 24, 2013 - (RealEstateRama) -- Once primarily known for its tenant representation services in the garment center, EVO Real Estate Group has recently brokered seven commercial real estate deals – totaling over 45,000 square feet -- for a diverse range of tenants in various parts of Manhattan, from the Plaza District to Chelsea, according to Dana Moskowitz, president of the firm.

REBNY’s Summer Donation Drive Aids Elderly Victims of Hurricane Sandy

NEW YORK, NY - October 24, 2013 - (RealEstateRama) -- The Real Estate Board of New York (REBNY) partnered with the NYC Department for the Aging for its 5th Annual Summer Donation Drive, which received more than 400 battery-operated and hand-cranked radios, whistles and batteries from REBNY members. The items will be distributed to senior citizens through the New Dorp Beach Senior Center Friendship Club on Staten Island, which was devastated by Hurricane Sandy.

A.G. Schneiderman Announces $20 Million In “HOPP” Grants As Part Of Ongoing Program To...

NEW YORK - October 24, 2013 - (RealEstateRama) -- Attorney General Eric T. Schneiderman today announced $20 million in grants to fund housing counseling and legal services for homeowners across the state. The award money represents the second round of a three-year, $60 million commitment made by the Attorney General’s Office to aid struggling homeowners in New York who are fighting to avoid foreclosure and remain in their homes. Throughout New York State, 34 legal services organizations and 54 housing counseling agencies will receive funds to provide free foreclosure prevention services. The program also includes funding for two anchor partners – the Center for New York City Neighborhoods and the Empire Justice Center – that assist the Office of the Attorney General with program management, provide grantees with technical assistance and administer a robust training curriculum

CUOMO ADMINISTRATION ANNOUNCES PROSPECT MORTGAGE WILL PAY $3 MILLION PENALTY AND PROVIDE REFUNDS TO...

New York, NY - October 24, 2013 - (RealEstateRama) -- Governor Andrew M. Cuomo announced today that Prospect Mortgage, LLC has agreed to pay a $3 million penalty and deliver restitution to homeowners after a Department of Financial Services (DFS) examination uncovered that the company engaged in deceptive practices on interest rates that harmed consumers. The DFS examination revealed that Prospect charged homeowners upfront ‘discount fees’ in exchange for lower interest rates over the life of their mortgages, but then never actually delivered the promised interest rate discounts. In addition to the $3 million penalty, Prospect Mortgage agreed to provide refunds totaling $427,155 to the 270 New York homeowners who

Governor Cuomo Deploys Mobile Command Center to Buffalo and Cheektowaga to Assist Homeowners Facing...

Albany, NY - October 22, 2013 - (RealEstateRama) -- Governor Andrew M. Cuomo today announced that he is deploying the Department of Financial Services (DFS) Mobile Command Center (MCC) to sites in Buffalo and the Town of Cheektowaga to help provide foreclosure prevention assistance to struggling homeowners.

Empire State third quarter home sales jump 17 percent

New York, NY - October 21, 2013 - (RealEstateRama) -- Motivated homebuyers dominated the Empire State’s summer housing market, powering 17.4-percent jumps in both statewide closed sales and pending sales during the third quarter, according to the housing market report released today by the New York State Association of REALTORS®. The state median sales price increased by 5.4 percent statewide.

SCHUMER: FEDERAL SANDY AID FINALLY BEING DISTRIBUTED TO HOMEOWNERS; MANY ARE UNAWARE THAT CDBG...

New York, NY - October 21, 2013 - (RealEstateRama) -- Schumer Fought Hard to Secure Flexible CDBG Funding in Sandy Aid Bill- Program Was Designed to Ensure Money Fills Gap Between What Insurance Pays & Actual Damage; Over $484 Million Will Be Allocated to Sandy Victims in NYS With Unmet Needs

FORMER ATTORNEY CHARGED IN 49-COUNT INDICTMENT WITH STEALING APPROXIMATELY $4 MILLION IN WIDE-RANGING REAL...

New York, NY - October 17, 2013 - (RealEstateRama) -- Manhattan District Attorney Cyrus R. Vance, Jr., today announced the indictment of ALICE BELMONTE, 47, who resigned from the New York Bar in February 2013, for defrauding investors and stealing millions of dollars through a wide-ranging real estate investment scheme. The defendant has been indicted in New York State Supreme Court on charges of Grand Larceny in the First, Second and Third Degrees, Criminal Possession of a Forged Instrument in the Second Degree, Identity Theft in the Second Degree, Scheme to Defraud in the First Degree, and Issuing a Bad Check.1

HUD, HPD, HDC And City Officials Join FEGS And Partners To Celebrate The Completion...

New York, NY - October 17, 2013 - (RealEstateRama) -- Today, The U.S. Department of Housing and Urban Development (HUD), The New York City Department of Housing Preservation and Development (HPD), The New York City Housing Development Corporation (HDC), Manhattan Borough President Scott Stringer and Councilwoman Rosie Mendez joined FEGS Health & Human Services and partners to celebrate the completion of renovations at Tanya Towers, located at 620 East 13

GOVERNOR CUOMO DEPLOYS MOBILE COMMAND CENTER TO DUTCHESS COUNTY TO ASSIST HOMEOWNERS FACING POSSIBLE...

WASHINGTON, D.C. - October 17, 2013 - (RealEstateRama) -- Governor Andrew M. Cuomo today announced that he is deploying the Department of Financial Services (DFS) Mobile Command Center (MCC) to Dutchess County to help provide foreclosure prevention assistance to struggling homeowners

Governor Cuomo Deploys Mobile Command Center to Dutchess County to Assist Homeowners Facing Possible...

Albany, NY - October 16, 2013 - (RealEstateRama) -- Governor Andrew M. Cuomo today announced that he is deploying the Department of Financial Services (DFS) Mobile Command Center (MCC) to Dutchess County to help provide foreclosure prevention assistance to struggling homeowners

ENGEL: DEFAULT WILL PAIN NEW YORKERS

WASHINGTON, D.C. - October 15, 2013 - (RealEstateRama) -- Congressman Eliot Engel said if Republicans drive the United States into default, Americans will suffer grave consequences including losses in retirement accounts, higher mortgage costs, Social Security checks and pensions for disabled veterans halted, and doctors and hospitals unpaid for treating patients on Medicare.

Rep. Maloney assails shutdown’s effect on nascent housing recovery

WASHINGTON, D.C. - October 10, 2013 - (RealEstateRama) -- Rep. Carolyn B. Maloney (D-NY), after today’s Oversight and Government Reform Committee hearing on “Examining the IRS’s Role in Implementing and Enforcing ObamaCare” assailed the Committee majority’s obsession with the IRS and the House majority’s obsession with the Affordable Care Act

U.S. Rep. Gregory W. Meeks Statement on President Obama’s Nomination of Janet Yellen as...

New York, NY - October 10, 2013 - (RealEstateRama) -- Excerpt: During the financial crisis, Ms. Yellen was a strong advocate for urgent financial reforms to address the systemic weaknesses and reckless practices that devastated our financial markets and lead to 10 million Americans losing their homes

Maloney Opposes FHFA Proposal to Cut Multifamily Portfolios of Fannie and Freddie

WASHINGTON, D.C. - October 9, 2013 - (RealEstateRama) -- Rep. Carolyn B. Maloney (D-NY), Ranking Member of the House Financial Services Subcommittee on Capital Markets and Government Sponsored Enterprises, today wrote the Federal Housing Finance Agency opposing further cuts to the multifamily businesses of Fannie Mae and Freddie Mac, the guarantors of $63 billion of loans backing multifamily apartment buildings per year nationwide

Governor Cuomo Deploys Mobile Command Center to Rochester to Assist Homeowners Facing Possible Foreclosure

Albany, NY - October 8, 2013 - (RealEstateRama) -- Governor Andrew M. Cuomo today announced that he is deploying the Department of Financial Services (DFS) Mobile Command Center (MCC) to Rochester to help provide foreclosure prevention assistance to struggling homeowners.

NYCEDC Announces Two Programs to Assist M/W/DBE Contractors With Construction Projects in New York...

New York, NY - October 8, 2013 - (RealEstateRama) -- New York City Economic Development Corporation (NYCEDC) today announced two new programs developed as part of Blueprint to Success, NYCEDC’s capacity building program for minority, women and disadvantaged business enterprise (M/W/DBE) construction firms. In partnership with the General Society of Mechanics and Tradesmen and its Mechanic’s Institute, NYCEDC is launching the Building Information Modeling (BIM) program, a course offered to engineers, architects and other design professionals to teach them how to use the groundbreaking BIM platforms.

Breaking Trend: Homeowners Now Buying Homes to Rent on Airbnb

New York, NY - October 8, 2013 - (RealEstateRama) -- New York Attorney General Eric Schneiderman has given popular web rental service AirBed and Breakfast an ultimatum: provide user data on all 225,000 New Yorkers using the site by the end of the day, or risk legal action. As cities continue to crack down on unlicensed Airbnb sublet rentals, renters are taking a new tactic: maintaining their apartments but purchasing homes specifically to use as legal Airbnb rentals.

HPD & HCR Join CPCR, CPC, Catholic Charities, and Richman Housing Resources to Celebrate...

Brooklyn, NY - October 4, 2013 - (RealEstateRama) -- NYC Department of Housing Preservation and Development (HPD) Commissioner RuthAnne Visnauskas, Senior Vice President & Head of CPC Resources, Inc. Thomas McGrath, Roman Catholic Bishop of Brooklyn Nicholas DiMarzio, Monsignor Alfred LoPinto, Vicar for Human Services for the Diocese of Brooklyn on behalf of the Catholic Charities of Brooklyn and Queens, New York State Homes and Community Renewal (HCR) Commissioner and CEO Darryl C. Towns, Richman Housing Resources President William Traylor, and residents today celebrated the completion of Catholic Charities Monsignor Anthony J. Barretta Apartments, a new $18 million development featuring 64 units of low-income housing in the Ocean Hill section of Brooklyn.

New Paltz Builder Showcases New Residential Development of Competitively Priced Net-Zero Energy Homes

New York, NY - October 4, 2013 - (RealEstateRama) -- Greenhill Contracting of New Paltz held a ribbon-cutting today at The Preserve at Mountain Vista, its new development of competitively priced net-zero energy homes in New Paltz. The developer used cost-efficient, standardized construction methods honed in part through participation in the New York ENERGY STAR® Certified Homes program, administered by the New York State Energy Research and Development Authority (NYSERDA).

Governor Cuomo Announces More Than One Million Homeowners Have Registered for STAR

Albany, NY - October 4, 2013 - (RealEstateRama) -- Governor Andrew M. Cuomo today announced that, after just six weeks, more than one million homeowners have registered with New York State for their Basic STAR exemptions. Basic STAR saves New York homeowners $700 every year on average, but is only available on the primary residence of owners with incomes below $500,000. A study by the Department of Taxation and Finance last year found that thousands of individuals with multiple properties were receiving more than one STAR exemption. This registration will ensure that homeowners only receive one STAR exemption for their primary residence.

Skaneateles, NYSERDA Announce First Municipal Net-Zero Energy Building in New York State

New York, NY - October 3, 2013 - (RealEstateRama) -- The Village of Skaneateles and NYSERDA today announced the grand opening of the first municipal net-zero energy building in New York State. The Skaneateles Village Hall, formerly a vacant fire station, will house new village offices and a police station and is expected to produce more energy than it consumes. Officials met at the site today to announce the grand opening.

Supported Energy Efficiency and Renewable Energy Training in Capital Region this Fall

New York, NY- October 3, 2013 - (RealEstateRama) -- As students return to school, the New York State Energy Research and Development Authority (NYSERDA) today announced that energy efficiency and renewable energy training courses are available this fall in Malta to help current workers move ahead in clean-energy careers and unemployed workers gain clean-energy skills and professional credentials