Commercial Real Estate News & Events, Howard Properties, New York

Press

13 Jan2021

PTI takes 13,600 sf expansion in Hawthorne’s Mid-Westchester Executive Park

PTI (Packaging Technologies and Inspection) has signed a lease for a 13,650 square feet of expansion space at 8 Skyline Drive in Hawthorne’s Mid-Westchester Executive Park. The company, which manufactures nondestructive package inspection technologies for the pharmaceutical, medical device and food industries, had originally leased 14,255 square feet in the building in 2018. PTI's space

11 Jan2021

Government agencies renew leases at 20 S. Broadway in Yonkers

Chestnut Commercial, owner of the 12-story commercial building at 20 S. Broadway in Yonkers that was built in 1931, reports that long-term lease renewals with three government tenants were signed for the building in 2020 despite the Covid-19 disruption. Learn More

20 Dec2020

2020 – Covid and the Westchester office market

The Covid-19 lockdown that began in mid-March spurred a Work from Home revolution. As of mid-December, there is very sparse attendance in Westchester offices (on the order of 10 percent or less), and building amenities, including cafeterias and fitness centers are generally closed. Work from Home (WFH) continues to be the norm. The overwhelming majority

23 Sep2020

The state of the office market in Westchester

Since the shutdown in mid-March, there are many more questions than answers about the future of the office. One key trend has been seen in suburban markets as well as in New York City. While offices are technically open at significantly reduced capacity, employees are in no hurry to come back to them. Much of

29 Jun2020

What does reopening mean to Westchester County offices?

As of this writing, the Mid-Hudson region is commencing its phase two reopening, permitting some workers to return to their offices, with significant rules and limitations. Since New York Pause began, I have attended many webinars and read countless articles on the future of office space in the near and long term. One thing I

15 Jun2020

An 89-year-old Yonkers building enters the modern COVID era

The building known as 20 South Broadway in Yonkers has remained an anchor of the Getty Square area of Yonkers from the Great Depression through today's COVID-19 pandemic. With approximately 148,000 square feet of space, the 12-story office building that was built in 1931 was acquired in 2018 by Chestnut Commercial, an owner and manager

21 Apr2020

The Future of Westchester’s Commercial Real Estate Market

The word unprecedented has been used an unprecedent number of times recently, but it is the most accurate word we have to describe what has happened to our world. At some point in the foreseeable future, we will begin to move toward a new normal. What will that look like in Westchester's real estate market?

23 Jan2020

Howard E. Greenberg: Apartments, Wegmans and a healthy office market

We have all heard about retail becoming omnichannel. That is when you can buy online, pick up or return at the store or order online while at the store, so that the online and the retail components work together to satisfy the customer. The Westchester County commercial real estate market is well into its omnichannel…

05 Aug2019

Westchester commercial real estate market is healthier than it has been in decades

From a multitenant office market of more than 33 million square feet about 12 years ago, we have demolished and/or repurposed almost 6 million square feet of multitenant office space, and have not built any new office buildings at all. Many functionally obsolete buildings have been demolished to free up the sites for new residential,

10 Jul2019

Towns, trains and water are the keys to development in Westchester

Most people ask me “What is all the building going on in Westchester?” Even more people ask me “Why are they building so many apartments?” The answers have a lot more to do with new societal trends than they do with real estate. Westchester has morphed from a sleepy bedroom community that rarely saw any