Westchester & Fairfield Cheat Sheet: High demand and low inventory define Hudson Valley resi market, Greenwich firm buys 300 acres of Fishkill IBM campus … & more

By Grace Guarnieri | September 07, 2017 05:35PM

From left: a Westchester home, the former IBM campus in Fishkill

Hudson Valley’s residential market sees low inventory and high demand

The summer residential real estate market in Hudson Valley saw high demand from buyers. However, low housing inventory led some homebuyers to desperate measures, including sending flowers and candy to sellers, LoHud reported. “It was extremely busy, unlike any summer market I’ve ever experienced before,” Kenyatta Jones-Arietta, the owner of Nyack-based R2M Realty, told LoHud. The outlet reports that the region has only a four-month supply of unsold inventory at the current sales pace, and that figure is down from 4.8 months a year ago. Julia B. Fee Sotheby’s International Realty agent Holly Mellstrom said, “[Interested buyers] are writing letters to the sellers. They are sending flowers. They are sending candy. They are dropping off personal notes, pictures of their family.” [LoHud]

Greenwich-based National Resources buys 300 acres of former IBM campus in Fishkill

National Resources, a Greenwich-based real estate development and investment firm, said this week that it will acquire 300 acres of the former IBM Fishkill campus bought by GlobalFoundries in 2015. GlobalFoundries will continue to own 160 acres of the campus, but National Resources says that it has been in talks with Dutchess County to rezone the land for a mixed-use development with residential and retail space. [WBJ]

Prep school seeks approval to build on controversial country club site in White Plains

The French-American School of New York needs approval from White Plains for its $60 million plan to build on the site of the former 129-acre Ridgeway Country Club. The prep school purchased the land for $8.5 million in 2011. Opponents of the school, including former Yankees pitcher Mariano Rivera, who is building a home nearby, have concerns about the safety of the street. Meanwhile, hedge-fund billionaire George Soros’ daughter, Andrea Colombe, as a former chair of the school’s board, supports the development, the New York Post reported. The school’s lawyer, Michael Zarin, is confident that plans will be approved come fall. [NYP]

Norwalk looks to lure millennials with trendy NYC-style SoNo lofts

Real estate agents are looking to entice young professionals with New York City-inspired exposed brick and high ceilings in the SoNo lofts in Norwalk. Over a half-dozen lofts on the town’s main drag at The 83 Washington Street have hit the market, asking as much as $300,000. A one-bed unit with 909 square feet of space is asking $229,000. The lofts offer updated kitchens and short walks from restaurants, retail and the train station.  [The Hour]

$60M nursing home building set to break ground in White Plains

Work is slated to begin this week on a 160-bed, $60 million nursing home project in White Plains. The White Plains Institute for Rehabilitation & Healthcare will feature 110,000 square feet of space built on the 39,000-square-foot vacant site at the intersection of Baker Avenue and Church Street. The city approved plans for the project in 2011. The Massachusetts-based Congress Companies is handling the construction. [LoHud]