The Real Deal New York

Westchester January 2017 Issue

Trouble in paradise?

At the top of Greenwich’s luxury market, it now takes serious price chops to move mansions

Greenwich, Connecticut, has long been known for its sprawling estates, well-heeled populace and high concentration of hedge funds. Now, it also has the unwanted reputation of a housing market that […]… [more]

Hipsturbia’s vertical growth

The northern migration of the Facebook generation has spurred a multifamily building boom in Westchester County

Everyone wants a piece of the millennial pie, and Westchester County is no exception. The coveted demographic of consumers — those born between 1981 and 1997 — is 75.4 million […]… [more]

Chinese investors bet
on the ’burbs

Despite fears about China’s outbound capital limits, investors are cashing in on Westchester and Fairfield

Strategic Capital could have spent its money anywhere. But executives at the firm, the American arm of a Chinese state-owned company, bet on Yonkers — … [more]

Will Westchester see
a Trump bump?

The developer owns or manages several properties in the county

Global uncertainty is high about President-elect Donald Trump’s agenda. But in Westchester, regardless of what side of the political fence they’re on, real estate professionals hope that having… [more]

Retail’s restaurant revolution

Developers are increasingly seeing food as the hot new commodity

As mixed-use developments have proliferated across Westchester in recent years, restaurants have emerged as some of the most important players in the building boom. At Rivertowns Square, a $150 million […]… [more]

Biotech boom fueling office market growth in Westchester

The industry is set to more than double its footprint in the county

The road to Westchester’s future is lined with sprawling biotechnology campuses — at least in the eyes of commercial developers and local government officials. Given the massive projects in the […]… [more]

Bidding wars on the Hudson

River towns in hot demand — for the right price

This summer, a nondescript, 1,268-square-foot, three-bedroom house in Tarrytown received 17 offers before closing for $620,000 — $70,000 above the asking price. A five-bedroom home in Hastings-on-Hudson in September had […]… [more]

Shaping the Westchester skyline

Louis Cappelli brought New York City swagger — and height —to the suburbs, but it’s been far from smooth sailing for the developer

Louis Cappelli was not going to be outdone. In the mid-2000s, as the suburban developer was building Trump Plaza, a… [more]

Mapping top brokerages in Westchester County

New players keep the old guard on their toes

In an age of disruption across the board, Westchester brokerage firms have hardly been immune to the greater trend, with shake-ups roiling the county’s real estate scene. In a few […]… [more]

Flush times for New York State’s suburban mortgage lenders

Tight inventory, not rising interest rates, poses the biggest risk

Manhattan couples seeking a quieter lifestyle and room to grow are keeping the Westchester housing market humming along — and generating big business… [more]

Reimagining Westchester retail

Developers are breaking ground on new projects and revamping old malls after years of ignoring new trends among shoppers

With an average household income of $135,000 — 8 percent higher than found in Manhattan, and 54 percent higher than the rest of New York State — … [more]

Hospitality’s southern migration

County’s room shortage pushes hotel construction south

The Westchester hotel market is going south — but not in a bad way. Experts say the trend in the county’s new hotel construction has focused heavily in favor of […]… [more]

Stamford’s office
market struggle

Developers and city officials are working hard to lure new companies to fill the glut of available space left by the shrinking financial sector

The city of Stamford is bullish on building. But first it has to work through a big problem: a surge in high-end office… [more]

In the lapse of luxury

Weakness in the top tiers of real estate means a bonanza for big-name buyers, but trying times for normally
high-flying sellers

The weakness in the high-end real estate markets in Westchester and Fairfield counties created winners and losers among high-profile names last yea… [more]

A bridge more traveled

The Tappan Zee’s replacement could be a boon for real estate markets on both side of the Hudson

Westchester commuters, rejoice! After years of delays, the process of replacing the Tappan Zee Bridge — long a serious bottleneck between Westchester and Rockland counties— is moving… [more]

Editor’s note:
Reimagining the suburbs

In a new world order where up is down, left is right, and a billionaire real estate developer and reality TV star is about to be president, it barely warrants a […]… [more]