Westchester, the Place to Be

Getting Bigger

The first half of this year has seen several big office space deals in Westchester County, particularly in White Plains. Over 32 percent of leasing activity last quarter were deals over 50,000 square feet. According to a report from Newmark Knight Frank, that is way up from last year when the majority of leases were for 5,000 square feet or less. For more information see: https://westfaironline.com/92344/white-plains-central-business-district-drives-return-of-large-office-leasing/

Printing Business

The Printhouse apartment building in downtown New Rochelle broke ground this week. The six-story building will house 71 units and sits next to Trump Plaza and across the street from New Roc City. The development is also a quick walk to the Metro-North Railroad station. For more information see: https://westfaironline.com/92750/printhouse-apartment-developers-break-ground-in-new-rochelle/

Waiting on Inflation

According to Bloomberg, July is the fifth straight month that core-price forecasts missed the mark. The Labor Department says the low unemployment rate is not fueling growth like expected. Instead hotel rates, vehicle prices and childcare rates are declining along with people dropping costly wireless phone plans. For more information see: http://www.nreionline.com/finance-investment/wait-us-inflation-pickup-drags-clouding-fed-outlook

Movin’ on Up to the Westchester Side

The New York Times says Westchester towns are where to live. The newspaper cited Mount Vernon, New Rochelle and Yonkers as cities where developers are building a lot of apartment buildings. New Rochelle even changed their zoning codes to allow for taller structures to be built to encourage continued development. For more information see: http://whiteplains.dailyvoice.com/real-estate/ny-times-reports-on-flurry-of-development-in-westchester-cities/718570/

Bronx Cheer

The Chairman and CEO of Halstead Real Estate believes the Bronx is the next area to experience a jump in the housing market. More millennials are choosing the borough for cheaper rents as the younger generation continues to shun the suburbs. For more information see: https://www.bloomberg.com/news/audio/2017-08-14/the-bronx-may-be-new-york-s-next-hot-market-podcast

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