Westchester & Fairfield Cheat Sheet: Carlson Real Estate and ERA Insite Realty merge, Greystar lists 341-unit Danbury complex … & more

By James Klatell | August 24, 2017 05:40PM

From left to right: An ERA Insite Realty office, Greystar’s 1 Kennedy Flats in Danbury.


Bronxville’s Carlson Real Estate merges with ERA Insite Realty of White Plains
Two family-owned Westchester real estate firms merged this week, the Westchester Business Journal reported. Bronxville’s Carson Real Estate, founded in 1972 by Marie Carlson and now run by her son Craig, will join ERA Insite Realty, a franchise of ERA that has operated as a family business in White Plains for 32 years. Previous to this, the Carlson brokerage was a franchise of Coldwell Banker. Craig Carlson will become an associate broker at ERA and will bring 20 brokers with him. Louis Budetti, principal broker of ERA Insite, said the merger worked because both firms “are both family-owned businesses and share common philosophies.” [WBJ]
One Danbury apartment complex sells for $31M as a nearby Greystar-owned complex goes on sale
The 135-unit Willow Grove apartment complex in Danbury sold for $31 million last week. Beachwood Residential, represented by Jeffrey Dunne, Gene Pride and Eric Apfel of CBRE, sold the renovated apartments to FRG, an affiliate of San Francisco-based Friedkin Realty, the News-Times reported. Another Danbury complex, 1 Kennedy Flats, just hit the market. Greystar Real Estate, which owns and developed the 374-unit complex, said selling the newly finished project was always part of the company’s plan. CBRE is representing the sellers. [The News-Times]
Greenburgh’s Elmwood Country Club sold for $13M
Elmwood Country Club in Greenburgh has been sold to a New Jersey real estate development firm. The 100-acre club is the second large parcel of Westchester land bought by Ridgewood Real Estate Partners this summer. The Florham Park-based firm bought the vacant Philips Research North America in Briarcliff Manor for $12.2 million in July, and Jonathan Grebow, president and CEO of Ridgewood told the Westchester Business Journal that they plan to redevelop the 100-acre campus into a residential development. The Elmwood club, previously owned by its members, filed notice with New York State that it would layoff its 76 employees by the end of September. [WBJ]
Fordham’s Real Estate Institute expands its West Harrison campus programs
Fordham University’s Real Estate Institute will begin offering certificate programs in real estate finance and investment and construction project management at the school’s Westchester County campus in September, Real Estate Weekly reported. Fordham partnered with the Hudson Gateway Association of Realtors for the program’s expansion, and member realtors will get special tuition rates in the program. “Our partnership with Fordham’s Real Estate Institute has the potential to provide tremendous benefits to the HGAR members involved in commercial real estate, and for the real estate professional who wants to raise the bar on their professional development,” Richard Haggerty, chief executive officer of HGAR, said. [Real Estate Weekly]
Local group forms to combat runaway Westchester development
Groups of local citizens who feel “under attack” by the wave of development sweeping through Westchester County have banded together to form the Greater Teatown Defense Alliance, an umbrella organization representing existing advocacy groups from parts of Cortlandt, New Castle, Ossining and Yorktown, LoHud reported. Teatown hopes to represent its members at town meetings, in election campaigns and in court. “We are under attack, and that requires a broader, coordinated response,” said Karen Wells, chairperson of the advocacy group. [Lohud]