Yearly Archives: 2012

November 6, 2012 - (RealEstateRama) -- Nassau County Executive Edward P. Mangano today announced the formation of the Nassau County Recovery Housing Task Force. This Task Force consists of commissioners and staff from the Department of Health, Social Services and Human Services; the Office of Housing and Community Development, as well as representative from the Federal Emergency Management Agency (FEMA) and the United States Army Corps. of Engineers.

November 5, 2012 - (RealEstateRama) -- Nassau County Executive Edward P. Mangano announced that he is partnering with the Empire Electrical Inspectors of New York to assist LIPA in restoring power to homes throughout Nassau. Yesterday, a team of 30 inspectors visited 4,000 homes in Nassau County to inspect circuit breakers and notified LIPA whether it was safe or not to turn power back on.

Albany, NY - November 1, 2012 - (RealEstateRama) -- Governor Andrew M. Cuomo today announced that New York homeowners will not have to pay potentially large hurricane deductibles on insurance claims stemming from damage caused by Monday’s storm.

NEW YORK, NY - November 1, 2012 - (RealEstateRama) -- Attorney General Eric T. Schneiderman today issued a guide to New Yorkers recovering and rebuilding after Hurricane Sandy, including tips on how to avoid scams as they restore and rebuild their homes and businesses. The Attorney General's guide includes tips to protect consumers from scams related to home repair, clean up services and tree removal and he's urging individuals who believe they have been scammed to contact his office at 800-771-7755.

WASHINGTON, DC - October 31, 2012 - (RealEstateRama) -- U.S. Housing and Urban Development Secretary Shaun Donovan today announced HUD will speed federal disaster assistance to the State of New York and provide support to homeowners and low-income renters forced from their homes due to Hurricane Sandy.

October 30, 2012 - (RealEstateRama) -- The study, “Housing Busts and Household Mobility: An Update,” supplements and confirms the authors’ 2010 research, which found that negative home equity reduces household mobility by 30 percent, while an additional $1,000 of mortgage or property tax costs lowers mobility by 10 to 16 percent. This new analysis incorporates more recent American Housing Survey data, and utilizes an improved measure of mobility to reflect permanent—and not temporary—moves.

Torrance, CA - October 26, 2012 - (RealEstateRama) -- Lee & Associates NYC (Lee NYC), the New York office of Lee & Associates Commercial Real Estate Services, a privately-held national commercial real estate firm, today announced it subleased the remaining 2,500-square-foot block of a 12,500-square-foot floor at 311 West 43rd Street to Verse Marketing, a web marketing group, on behalf of Cooper, Robertson & Partners, an architecture and urban planning company founded in 1979. Gabe Issacs, managing director, and Frank Discolo, associate, of Lee NYC conducted the transaction. Andrew Weinstein of Cushman & Wakefield represented Verse Marketing

Torrance, CA - October 26, 2012 - (RealEstateRama) -- Lee & Associates NYC (Lee NYC), the New York office of Lee & Associates Commercial Real Estate Services, a privately-held national commercial real estate firm, today announced it closed on two leases at 244 East 84th Street, a 6-story multi-use building at the corner of 84th Street and Second Avenue it manages and leases.

New Windsor, NY - October 26, 2012 - (RealEstateRama) -- Standing with Hudson Valley women entrepreneurs at OXYVITA, Inc., U.S. Senator Kirsten Gillibrand today called for targeted federal investment into the Women’s Enterprise Development Center (WEDC) through the Economic Development Administration.

Albany, NY - October 26, 2012 - (RealEstateRama) -- Governor Andrew M. Cuomo today announced that PepsiCo will renovate its worldwide headquarters in Purchase, keeping the food and beverage company’s 1,100 jobs in New York State. Throughout the duration of the project, which involves the complete redevelopment of 420,000 square feet of office space, approximately 1,250 local construction jobs will be created.

NEW YORK, NY - October 25, 2012 - (RealEstateRama) -- City Comptroller John C. Liu released the following statement on the $1 billion lawsuit filed by the U.S. Attorney in Manhattan against Bank of America (NYSE:BAC) for fraudulent mortgage practices:

YONKERS, NY - October 23, 2012 - (RealEstateRama) -- Mayor Mike Spano announced today the City along with the Municipal Housing Authority of Yonkers and The Community Builders have been awarded $300,000 by the U.S. Department of Housing and Urban Development’s (HUD) Choice Neighborhood Planning Grant to support the development of a comprehensive transformation plan for Cottage Gardens in the Croton Heights/Cottage Place Gardens neighborhood. Yonkers is one of 17 municipalities from across the nation that was awarded the grant

HUD allocation will enable NYCHA to preserve public housing, build stronger neighborhoods and develop innovative partnerships The New York City Housing Authority (NYCHA) has been...

New York, NY - October 10, 2012 - (RealEstateRama) -- Good morning. I am Bill Dudley, president and CEO of the Federal Reserve Bank of New York. I would like to welcome you to today's conference titled "Distressed Residential Real Estate: Dimensions, Impacts, and Remedies," which we are co-sponsoring with the Rockefeller Institute of Government

NEW YORK, NY - October 8, 2012 - (RealEstateRama) -- The Federal Reserve Bank of New York today released new data1 about the distressed residential real estate market, including the inventory of real estate owned properties, or REO. Through interactive maps, viewers can explore the current status and potential future scenarios for REO properties at the national and state-specific levels. Another interactive map examines the magnitude and recent history of distressed sales in New York, New Jersey and Connecticut at the state and county level.

WASHINGTON, DC - October 2, 2012 - (RealEstateRama) -- In his role as co-chair of the Residential Mortgage-Backed Securities Working Group, Attorney General Eric T. Schneiderman today announced a Martin Act lawsuit against J.P. Morgan Securities LLC (formerly known as Bear Stearns & Co. Inc.), JP Morgan Chase Bank, N.A., and EMC Mortgage LLC (formerly known as EMC Mortgage Corporation) for making fraudulent misrepresentations and omissions to promote the sale of residential mortgage­-backed securities (RMBS) to investors.

New York, NY - October 1, 2012 - (RealEstateRama) -- On Saturday, September 15th, the State of New York Mortgage Agency - SONYMA, hosted its second "Welcome Home, New York" event for first-time homebuyers at Asbury First United Methodist Church in Downtown Rochester.

NEW YORK, NY - September 28, 2012 - (RealEstateRama) -- On Monday, October 1st, new rent increases approved by the New York City Rent Guidelines Board will begin going into effect, raising the cost of housing for millions of rent stabilized tenants. For many tenants, these rent increases will be a severe hardship, and will further heighten the effects of the economic recession.

New York, NY - September 25, 2012 - (RealEstateRama) -- New York City Housing Authority Chairman John B. Rhea today unveiled new initiatives that would bring hundreds of millions of dollars in revenue to the Housing Authority to help maintain and preserve public housing in New York City. At a breakfast sponsored by the Association for a Better New York, Chairman Rhea detailed a major plan to build new, private housing at NYCHA developments. The plan would create at least 1,000 permanently affordable housing units for low- and moderate-income families. The new developments would not displace any NYCHA residents and will bring millions of dollars each year to the Housing Authority that would go towards providing safe, secure and well-maintained housing for NYCHA residents at the sites and throughout the city

Hauppauge, NY - September 24, 2012 - (RealEstateRama) -- Suffolk County Executive Steve Bellone announced his Recommended Budget for fiscal 2013 which is balanced, is under the NYS property tax cap, reigns in spending, freezes general fund taxes and does not contain any new layoffs. Bellone's first County wide operating budget comes just six months after County lawmakers received a report stating that Suffolk County faced a projected three-year budget shortfall of approximately $530 million and learned from Comptroller Joseph Sawicki that the 2011 deficit was approximately $60 million.

NEW YORK, NY - September 21, 2012 - (RealEstateRama) -- Comptroller John C. Liu, on behalf of the New York City Employees’ Retirement System and the Police Pension Fund, announced today that the two Funds have invested $19 million in order to provide a 30-year, fixed-rate mortgage for the Jose de Diego Beekman Houses in The Bronx.

Albany, NY - September 21, 2012 - (RealEstateRama) -- Governor Andrew M. Cuomo today announced that the Empire State Development (ESD) Board of Directors has authorized the transfer of the Tryon Boys and Girls Center (Tryon Facility) to the Fulton County Industrial Development Agency (FCIDA) for redevelopment

Yonkers, NY - September 20, 2012 - (RealEstateRama) -- The revitalization of the Cottage Gardens public housing complex took another step forward today, as the Yonkers Industrial Development Agency (YIDA) voted to move ahead with a plan to demolish two of the housing complex’s deteriorated buildings and add a 50 unit mixed income affordable housing apartment building.

New York, NY - September 19, 2012 - (RealEstateRama) -- For the third year in a row, Nassau County Executive Edward P. Mangano delivered to the Legislature a No-Property Tax Increase Budget that reduces spending for a second consecutive year and continues to deliver essential services for the people of Nassau. Aggressive fiscal management and a continued commitment to spending cuts is evident as County Executive Mangano and the Republican Legislative Caucus have cut over $290 million in spending from Nassau’s budget. Since 2009, County Executive Mangano has fostered a government of less spending, fewer employees and fewer appointees

NEW YORK, N.Y. - September 19, 2012 - (RealEstateRama) -- City Comptroller John C. Liu today announced a new housing study, “Rents through the Roof,” that found middle-income New Yorkers are increasingly being squeezed by rising rents. Unfortunately, however, they can expect little relief from existing plans to create affordable housing