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Month: December 2019

Dec 2019

Lockport sets long-range reassessment plan

The City of Lockport will spend $400,000 over the next three years to reassess all 8,200 properties in the city. The Common Council approved a contract with GAR Associates, a Williamsville appraisal firm, to help City Assessor Tracy A. Farrell determine new property values. Farrell said Thursday the plan is for the new assessments to …

Dec 2019

Closing stings former Lakeshore leader

IRVING — During Bob Sutehall’s leadership of Lakeshore Hospital, business was booming. Sutehall served on the Irving health-care facility’s board of directors from 1983 to 1994. During those years, he indicated, the facility was often packed to the max. “Some years, we had a 108 percent occupancy rate at the hospital, which meant there were …

Dec 2019

Buffalo reassessed: Uneven growth belies citywide renaissance

Iris Cintron bought her vinyl-sided double on Buffalo’s East Side for $42,500 two decades ago. Since then, the 57-year-old administrative assistant has poured thousands of dollars into upgrades to juice the value of the 92-year-old home. There were new doors for the detached three-car garage. A fresh roof, when its shingles began to curl. Cintron …

Dec 2019

The Taxman Cometh for Some Condos

NEW YORK — For thousands of luxury condo owners in New York who have received deep tax breaks for a decade or more, the taxman is coming. The end of those benefits, through an expired program known as 421-a, could not have come at a worse time for many sellers, who are faced with mounting …

Dec 2019

State Senate looks ahead to complicated task of property tax reform

A roomful of top experts on New York’s property tax system — an opaque topic that nonetheless touches every New Yorker, property-owner or not — gathered for a roundtable discussion convened by state lawmakers Wednesday in downtown Manhattan. They were assembled at the hearing by State Senator Brian Benjamin, a Manhattan Democrat and chair of …

Dec 2019

The New York real estate industry’s Albany goals in 2020

Although few Albany observers expect the political winds to shift in real estate’s favor next year, and its lobbyists will likely spend more time trying to defeat bills than pass them, there is still some optimism in the industry. Here are the goals it hopes to achieve in the legislative session that begins next month. …

Dec 2019

4 things New York’s commercial real estate industry is watching for 2020

With just a few weeks left of this decade, the city’s real estate community is looking back on 10 years of enormous growth and change, and forward to what the 2020s may bring. Laws governing how buildings are built and run are top of mind, as are the kinds of businesses and industries that will …

Dec 2019

USA Niagara has new plan for former Rainbow Mall site

Wonder Falls, a proposed $150 million private development project once hailed as a potential “hub” of activity for downtown Niagara Falls, has been officially removed from consideration. The project developer and officials from USA Niagara Development Corp., the state agency that oversees development in downtown Niagara Falls, confirmed Friday that the project, long envisioned to …

Dec 2019

Syracuse.com real estate update includes over $500,000 in second half of 2019

Syracuse.com has updated its database of the latest commercial and residential real estate sales in Central New York. Search three years of sales data in Cayuga, Madison, Onondaga and Oswego counties. Syracuse.com updates its real estate sales database each week. The records come from the New York State Office of Real Property Tax Services. Readers …

Dec 2019

What the $1.9 billion Erie County budget really tells us

As could be expected in a healthy economy, the $1.8 billion Erie County budget approved Thursday doesn’t cut much. But it does say a lot about who and what matters most to county leaders. The politics and priorities became clear as lawmakers approved it in a 10-1 vote. The budget includes a new “urban initiative” …

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