Several months ago, Admiral wrote about Westchester’s Property Tax Quandary, which described Westchester’s initial plan submission to New York State’s County-Wide Shared Services Initiative (CWSSI). This blog update outlines the County’s revised plan, which projects $27 Million in recurring savings. Read More
Hugh Kelly writes in the Westchester County Business Journal about the appeal of 24-hour cities and how a number of Westchester County suburbs have the features of 24/7 live-work-play environments: residential density, walkability, access to public transportation, and nearby Main Street shopping, restaurants and entertainment. Read More
Directly or indirectly, we all pay them. And Westchester County’s residents and businesses would benefit if they declined – if that could be done without negatively impacting services. To take [a lot] of liberties with Arthur Godfrey’s quote: “I’m proud to be paying property taxes in Westchester. The only thing is – I could be just as proud for half the money.” Read More
Living in “interesting times”, as the adage goes, is rarely a blessing. It is, however, an apt proverb for the retail industry today, and its effects on the retail landscape. Read More
In this brief overview of the Fairfield and Westchester County retail real estate markets, CoStar data indicates a slight softening in Westchester, as total availability ticked up and asking rents moved down over the past year. In contrast, Fairfield saw some strengthening, with availability declining and average asking rents rising. Read More
NAIOP, the Commercial Real Estate Development Association, just published the results of its excellent biannual investor survey. The NAIOP CRE Sentiment Index summarizes the predictions of approximately 5,000 commercial real estate investors, developers and operators about general conditions in the commercial real estate industry in 2018. Read More
There is no doubt that e-commerce is having a huge impact on the way people shop. However, traditional brick-and-mortar stores still dominate retail sales in the U.S., and will continue to do so. It is undeniable that e-commerce has fundamentally changed the way customers shop, and the size and layout of retail stores. But physical locations remain necessary for most retail, particularly for the fast growing services sector.
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As traditional office tenants downsize and occupy less square footage, the biotech industry is expanding. Read More
RECon in Las Vegas is the largest commercial real estate convention in the world. According to many of the 37,000 attendees, because of lingering uncertainty in retail, this year’s focus at ICSC RECon 2017 was less about deal making and more about understanding the changing nature of the retail real estate industry.
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As part of staying on top of the state of our markets, Admiral performs regular reviews of recent multifamily real estate investment sales activity in Westchester County, along with market fundamentals, including analysis of capitalization rates and sales volume. Read More
