Yearly Archives: 2013

STATEN ISLAND, NY - November 18, 2013 - (RealEstateRama) -- Today, Rep. Michael G. Grimm (R,C-Staten Island/Brooklyn) issued the following statement: “Today marks one year since President Obama came to Staten Island and toured the damage in New Dorp Beach. On that day, promises were made by our President, our Governor, and our Mayor. While the State’s housing recovery program seems to be in full swing, far less can be said about the City’s Build-it-Back Program.

WASHINGTON, DC - November 18, 2013 - (RealEstateRama) -- Congressman Michael G. Grimm (R,C-SI/Brooklyn) sent a stern letter to Mayor Michael Bloomberg calling on the City to reprioritize its CDBG funding plan to better meet the recovery needs of homeowners. Currently, the City spreads its funding across housing, resiliency, and mitigation. With so many people out of their homes or lacking the funds to repair their home, Rep. Grimm is calling on the City to put the people first and make them the top priority.

Albany, NY - November 18, 2013 - (RealEstateRama) -- Governor Andrew M. Cuomo today announced the next step in the transformation of downtown Niagara Falls, as two major businesses have been selected to propose comprehensive plans for the redevelopment of the remaining 200,000 square feet of the former Rainbow Centre Mall.

Washington - November 18, 2013 - (RealEstateRama) -- Congressman Tim Bishop has been appointed to the House-Senate Conference Committee charged with producing consensus legislation to strengthen our nation’s port and inland waterway infrastructure and spur job creation

Long Island City, Queens - November 15, 2013 - (RealEstateRama) -- Congresswoman Carolyn Maloney (NY-12), Ranking Member of the House Financial Services Subcommittee on Capital Markets and Government Sponsored Enterprises, hosted a roundtable today at the United Nations Federal Credit Union in Long Island City to discuss proposed reforms to federal housing and mortgage finance laws with members of Queens’ real estate and mortgage industries, as well as housing experts.

New York, NY - November 14, 2013 - (RealEstateRama) -- On a press conference call, U.S. Senator Charles E. Schumer announced bipartisan legislation, the Homeowner Flood Insurance Affordability Act, which will protect up to 11,000 Upstate New York homeowners from facing potentially huge flood insurance premium rate hikes, and over 20,000 more from seeing their property values decimated – as a result of higher premiums facing any new buyer – when they try to sell. Schumer’s legislation would require FEMA to complete an affordability study and propose real solutions to address affordability issues before flood insurance premiums can be raised for most homeowners.

NEW YORK, NY - November 14, 2013 - (RealEstateRama) -- In its latest Household Debt and Credit Report, the Federal Reserve Bank of New York announced that outstanding household debt increased $127 billion from the previous quarter, the largest increase since the first quarter of 2008. The increase was due to rises in mortgage balances ($56 billion), student loans ($33 billion), auto loans ($31 billion) and credit card debt ($4 billion). The Quarterly Report is based on data from the New York Fed’s Consumer Credit Panel, a nationally representative sample drawn from anonymized Equifax credit data

Albany, NY - November 14, 2013 - (RealEstateRama) -- Governor Andrew M. Cuomo today announced that households across the state can begin applying for heating assistance this winter through New York’s Home Energy Assistance Program (HEAP) on Monday, November 18. HEAP, which is overseen by the New York State Office of Temporary and Disability Assistance (OTDA), is a federally-funded program that provides up to $650 for eligible households to pay for energy costs in order to keep their homes warm during the winter.

New York. NY - November 14, 2013 - (RealEstateRama) -- Today, Senators Charles E. Schumer and Kirsten Gillibrand announced that Bishop Sheen Ecumenical Housing Foundation will receive a $38,000 grant from the U.S. Department of Agriculture, specifically from the Housing Preservation Grant program. This funding will be used in all twelve units owned by the Bishop Sheen Housing Foundation to replace roofs, furnaces, and address accessibility issues, like installing handicap ramps

New York, NY - November 13, 2013 - (RealEstateRama) -- Today, Senators Charles E. Schumer and Kirsten Gillibrand announced that Bishop Sheen Ecumenical Housing Foundation will receive a $38,000 grant from the U.S. Department of Agriculture, specifically from the Housing Preservation Grant program. This funding will be used in all twelve units owned by the Bishop Sheen Housing Foundation to replace roofs, furnaces, and address accessibility issues, like installing handicap ramps.

Albany, NY - November 12, 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 Troy and Albany to help provide foreclosure prevention assistance to struggling homeowners in the Capital Region.

NEW YORK, - November 12, 2013 - (RealEstateRama) -- New York City real estate brokers reported a dip in confidence in the current real estate market in the third quarter of 2013 compared to the last quarter due to concerns about residential inventory and political uncertainty. The city’s brokers also lowered expectations for their six-month outlook, even though they reported strong confidence in present financing conditions, according to the Real Estate Board of New York’s (REBNY’s) Real Estate Broker Confidence Index released today.

New York, NY - November 8, 2013 - (RealEstateRama) -- The New York City Housing Authority (NYCHA) today announced the selection of a development team to begin work at six of NYCHA’s project-based Section 8 properties. This transaction is part of a mixed-finance project that will both provide funding for critical work to improve the apartments and buildings to improve residents’ quality of life, and use energy more efficiently. NYCHA expects the development team to provide residents with dedicated daily maintenance and upkeep before, after and during the complete renovation of their apartments, buildings and property that it will undertake.

Albany, NY - November 6, 2013 - (RealEstateRama) -- Governor Andrew M. Cuomo today announced the disbursement of $4.6 million in Farmland Protection Implementation Grants to complete projects that will permanently protect 2,200 acres of farmland in five counties. The funding is provided through the State Environmental Protection Fund and administered by the State Department of Agriculture and Markets. Since the program began, more than $128 million has protected approximately 51,000 acres of farmland on 220 farms across New York State.

NEW YORK, NY - November 6, 2013 - (RealEstateRama) -- The Real Estate Board of New York (REBNY) has announced the six leaders, trailblazers and power brokers it will honor at the industry’s most celebrated event of the year, the 118th Annual Banquet that will be held on Thursday, January 16, 2014 at the New York Hilton Hotel

New York, NY - November 1, 2013 - (RealEstateRama) -- Nassau County Executive Edward P. Mangano announced today that he has advanced plans to move forward in the redevelopment of the Island Park community that involves negotiating with the owners of The Long Beach Motor Inn and the adjoining Ruby Tuesdays property.For too long, this property has been a problem for the Island Park community. It also directly affects the reconstruction and redevelopment of this village.

WASHINGTON, D.C. - November 1, 2013 - (RealEstateRama) -- Congressman Gregory W. Meeks, (NY-05) Senior Member of the House Financial Services Committee released the following statement:

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

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

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.

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.

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

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

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.

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.