Yearly Archives: 2014

Albany, NY - April 22, 2014 - (RealEstateRama) -- Governor Andrew M. Cuomo today announced the completion of The Barn and Academy Lofts at the Barn, a restoration project designed to increase affordable housing opportunities and serve as an innovative business incubator in Albany’s Arbor Hill neighborhood. This collaborative project has transformed the long vacant St. Joseph’s Academy into affordable apartments and a multi-purpose site for the arts community that is expected to generate nearly $10 million in local economic activity and leveraged support from State and local partners, including the Capital Region Economic Development Council (CREDC).

Albany, NY - April 22, 2014 - (RealEstateRama) -- The New York State median sales price grew by 5.1 percent in the 2014 first quarter compared to a year ago, continuing its upward trend, according to the housing market report released today by the New York State Association of REALTORS. Sales dropped 1.8 percent compared to the start of 2013.

WASHINGTON, D.C. - April 17, 2014 - (RealEstateRama) -- U.S. Senator Charles E. Schumer today launched his effort to ensure that the federal government does not leave out North Shore Long Island communities, like North Hempstead, in funding Sandy rebuilding and resiliency efforts. The Town of North Hempstead has a number of critical recovery projects in the works, including rebuilding the town dock in Port Washington, repairing a number of critical bulkheads and seawalls, and completing sand removal, that have yet to be funded over 18 months after the storm. Specifically, Schumer called on the Federal Emergency Management Agency (FEMA) and the Dept. of Housing and Urban Development (HUD) to prioritize and expedite consideration of several major projects throughout the Town of North Hempstead that will help protect Nassau County’s North Shore communities in the event of a future storm. Schumer today said that many projects along the South Shore have been the

Albany, NY - April 17, 2014 - (RealEstateRama) -- Governor Andrew M. Cuomo today announced over $95 million in awards for shovel-ready projects to build affordable housing across the state. The low-interest loans and tax credits will build and preserve nearly 2,100 units of affordable housing and are expected to leverage more than $435 million in grants, loans and private resources.

WASHINGTON, D.C. - April 14, 2014 - (RealEstateRama) -- County Executive Edward P. Mangano announced today that the Nassau County Industrial Development Agency (IDA) has approved an economic development compact for Avalon Bay Communities to build 191 rental apartments, 10 percent of them affordable workforce housing units, on the site of a now-defunct petroleum storage facility in Great Neck. When completed, this project will generate $56.4 million in economic benefit for the local economy while bringing the number of new housing opportunities created in Nassau under the Mangano administration to over 1,150

Albany, NY - April 10, 2014 - (RealEstateRama) -- Governor Andrew M. Cuomo today highlighted key points of the 2014-2015 New York State Budget, the fourth consecutive on-time budget that holds spending growth below two percent, in Irondequoit. The Budget provides $1.5 billion in property tax cuts to help New York’s homeowners and encourage local governments to increase efficiencies, transforms schools and increases education spending by a record 5%, and lowers the corporate income tax rate to zero.

NEW YORK - April 9, 2014 - (RealEstateRama) -- Attorney General Eric T. Schneiderman today announced an agreement with Vornado Realty Corporation, one of the largest owners and managers of commercial real estate in the U.S., that will ensure that individuals with disabilities are provided equal access to parking lots and garages at 20 shopping centers in New York owned by the company. The settlement requires that the facilities are upgraded so they comply with requirements and design standards set forth in the federal Americans with Disabilities Act, so those with disabilities have access to the goods and services that are available at the centers

WASHINGTON, D.C. - April 9, 2014 - (RealEstateRama) -- U.S. Senators Charles E. Schumer and Kirsten Gillibrand today announced $1.7 million in federal funds to acquire and demolish flood-damaged structures in the Village of Sidney in Delaware County, and turn them into green space. The federal funds cover 75% of Delaware County’s project to buyout and tear down the properties in this flood-prone location. Because the damaged buildings were located in a flood hazard zone, where there was persistent and severe flooding, demolishing the structures was Delaware County’s preferred plan

Washington, D.C. - April 9, 2014 - (RealEstateRama) -- Congressman Eliot Engel (NY-16) announced that the U.S. Housing and Urban Development (HUD) has awarded over $3 million in grants to non-profits and governmental agencies in his Congressional District, which will provide social services and housing assistance to homeless individuals and families

ALBANY - April 4, 2014 - (RealEstateRama) -- The New York Department of State will hold a public meeting on Tuesday, April 8, 10:30 a.m. at 99 Washington Avenue in Albany, 65 Court Street in Buffalo, and 123 William Street in NYC.  The Department’s Division of Licensing Services issues licenses to persons who conduct appraisals on real estate, and the Board of Real Estate Appraisal assists the Department in adopting rules and regulations relating to this discipline. The meeting is open to the general public

New York, NY - April 1, 2014 - (RealEstateRama) -- The New York State Senate today passed the 2014-15 education budget that will increase school aid by $1.1 billion, bringing total support for public schools to $22.1 billion. The 2014-15 State Budget distributes school aid fairly and equitably across the state, will help reduce pressure on local property taxpayers, provides additional support for charter schools and for early education programs, and makes important changes to address serious concerns raised about the Common Core program.

New York, NY - April 1, 2014 - (RealEstateRama) -- New York’s hardworking families will see substantial property tax relief from the 2014-15 state budget, including a record amount of funding for the STAR program -- $3.4 billion -- and $1.5 billion in relief over the next three years from a new property tax freeze program.

BUFFALO - March 28, 2014 - (RealEstateRama) -- Attorney General Eric T. Schneiderman today announced that his office’s Homeowner Protection Program (HOPP) has served 24,000 New Yorkers statewide in less than a year and half, resulting in 6,660 approved and pending loan modifications. Of those homeowners, 1,519 reside in the counties of Erie and Niagara; and of the loan modifications approved and pending statewide, 797 are located in Erie and Niagara. Since October 2012, HOPP has allocated significant funding to 36 legal services organizations and 56 housing counseling agencies dedicated to providing free foreclosure prevention services to struggling homeowners.

Albany, NY - March 26, 2014 - (RealEstateRama) -- Governor Andrew M. Cuomo today announced support from more than 260 local elected officials for his plan to cut property taxes. The Governor’s proposal to cut property taxes and encourage local governments to reduce costs was detailed by Lieutenant Governor Robert Duffy during an event earlier today at the Chemung County Executive Office in Elmira.

Albany, NY - March 24, 2014 - (RealEstateRama) -- Housing sales in New York State slowed during February with closed transactions falling by 5.9 percent compared to February 2013, according to the housing market report released today by the New York State Association of REALTORS. The statewide median sales price continued its growth trend, increasing by nearly 7 percent compared to last February.

New York,NY - March 24, 2014 - (RealEstateRama) -- Governor Andrew M. Cuomo today announced support from more than 225 local elected officials for his plan to cut property taxes

WASHINGTON - March 24, 2014 - (RealEstateRama) -- Congresswoman Carolyn B. Maloney (NY-12) today responded to the Federal Housing Finance Agency’s request for public input on a proposal to reduce conforming loan limits, the maximum size of a home mortgage that Fannie Mae and Freddie Mac can purchase, with a letter signed by a bipartisan coalition of 35 House members who oppose the change. Maloney, the top Democrat on the House Financial Services Subcommittee on Capital Markets and Government Sponsored Enterprises, has been highly critical of the FHFA proposal that could result in reduced access to mortgages for middle-class families in high-cost real estate markets like New York

Albany, NY - March 20, 2014 - (RealEstateRama) -- Governor Andrew M. Cuomo today announced support from 175 local elected officials for his plan to cut property taxes. The Governor also detailed his proposal to cut property taxes and encourage local governments to reduce costs earlier today at Mohawk Valley Community College in Oneida County.

TROY - March 20, 2014 - (RealEstateRama) -- Attorney General Eric T. Schneiderman and Comptroller Thomas P. DiNapoli announced today that William Meissner and Roger Rosenthal, former Troy Housing Authority employees, pled guilty to defrauding the New York State Retirement System (NYSRS). Rosenthal retired from the Troy Housing Authority in 2005 and began collecting a full pension with the NYSRS, then went back to working as a supposed ‘consultant’ with the Authority, collecting more than $200,000 in a three-year period in addition to the pension. When the validity of Rosenthal’s ‘consulting’ arrangement with the Housing Authority was questioned, Rosenthal and Meissner submitted a falsified, backdated contract in an effort to cover the illegal retirement payments. As part of today’s plea agreement, Meissner and Rosenthal have paid New York State Retirement System $63,517.41 in restitution

NEW YORK - March 20, 2014 - (RealEstateRama) -- Congresswoman Carolyn B. Maloney (NY-12), Ranking Member of the House Financial Services Subcommittee on Capital Markets and Government Sponsored Enterprises (GSE), today released the following statement on the Johnson-Crapo housing finance reform proposal

NEW YORK - March 12, 2014 - (RealEstateRama) -- The Federal Reserve Bank of New York today released results from its monthly Survey of Consumer Expectations (SCE) which contains insight into Americans’ views on inflation, prices, the labor market and household finance. February results show that consumer inflation expectations rose slightly in February at both the one-year and the three-year ahead horizon. Median earnings growth expectations remained above 2013 levels. The mean perceived chance of finding a job in three months, if one were to lose their current job today, declined slightly to about 46 percent. Household income and spending growth expectations remained essentially unchanged, as did past and future credit access perceptions.

WASHINGTON, D.C. - March 12, 2014 - (RealEstateRama) -- Rep. Sean Patrick Maloney (NY-18) strongly supported passage of a bipartisan flood insurance reform bill, which reverses the dramatic flood insurance rate hikes for homeowners. Passed by a vote of 306-91, the Homeowner Flood Insurance Affordability Act ends the automatic rate increases caused by events such as property sales and restores grandfathered rates for those who played by the rules and built their properties according to code. This bill also provides a refund for those families who have already been hit by unaffordable premium increases.

WASHINGTON, D.C. - March 12, 2014 - (RealEstateRama) -- The Greater Jamaica Development Corp. announced Friday that it has reached a deal to sell BRP Companies a development site near Jamaica station in Queens where the buyer will build a $225 million residential tower with retail space in its base

WASHINGTON, D.C. - March 4, 2014 - (RealEstateRama) -- Are we worth it? There have always been buyers and sellers who want to go it alone. They are sure that they can save money by not paying a commission. In my experience the reality is somewhat different. Whether as buyers or as sellers, consumers are rarely their own best advocates in a negotiation. Buyers usually pay less, and sellers get more, when they have a knowledgeable real estate agent representing them

NEW YORK, NY - March 3, 2014 - (RealEstateRama) -- The Board of Directors of Tenants & Neighbors announces the appointment of Katie Goldstein as Executive Director. Katie has been on staff since 2007, most recently as the Director of Organizing. She succeeds Maggie Russell-Ciardi, who completed seven years of service as executive director