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In the News

Sep 2020

Lavish East Hampton compound on the beach in contract for $70M

A stunning waterfront compound in East Hampton is in contract for around $70 million, sources tell Gimme Shelter. If it sells for that price, it would be the most expensive Hamptons sale of 2020 — a year in which the coronavirus pandemic pushed area demand (and sales prices) to record highs. The sprawling estate at …

Sep 2020

County agrees to help in legal cases

JOHNSTOWN — The Fulton County Board of Supervisors recently agreed to the county assisting two legal defense cases involving assessment challenges in the Glove Cities. One of the two involves a proposed $25 million reduction in the Walmart Distribution Center’s assessment. Gloversville 5th Ward Supervisor Gregory Young said it is “frustrating” when other businesses and county residents …

Sep 2020

PPE maker plans Amherst facility

Premium PPE plans to invest $4.5 million into opening a personal protective equipment facility in Amherst that will create 25 jobs, according to the New York Power Authority. The Power Authority has agreed to support the company’s expansion plan with low-cost power. Premium PPE will broaden its business into manufacturing, according to the Power Authority. The …

Sep 2020

Stop waiting for a 2nd STAR property tax break from NY in 2020; the check isn’t coming

Homeowners in New York state got used to receiving a second STAR property tax break check in the fall. But this year, the state is only giving one STAR handout. Taxpayers will continue to get the tax break they claim routinely on their school property tax bills. It comes as a discount on school property …

Sep 2020

State’s highest court dismisses property tax reform appeal

The state’s highest court this week dismissed an appeal that sought to reform New York’s property tax system. The New York Court of Appeals did not rule on the merits of the case, but dismissed Tax Equity Now New York’s claim because “no substantial constitutional question is directly involved.” Tax Equity Now New York argued …

Sep 2020

Syracuse agrees to $2.5M assessment reduction on National Grid HQ

Syracuse, N.Y. — City lawyers recently agreed to lower the assessment on National Grid’s iconic downtown building, saving the company nearly $18,000 a year in city and school property taxes. The city will refund National Grid $17,905 in taxes already paid as part of a settlement for an ongoing lawsuit over the company’s tax bill. …

Sep 2020

Controversial Blocher Homes project approved in Williamsville

A divisive $31.5 million plan to convert a senior housing complex in Williamsville into mixed-income apartments has narrowly received its final go-ahead. The village Planning Board on Tuesday approved the project’s site plan by a 4-3 vote and granted a favorable architectural review by a 6-1 vote. People Inc. now can take over the century-old …

Sep 2020

Statler-like Revival in Philadelphia

The Benjamin Franklin Hotel was the last large hotel constructed in Philadelphia before the Great Depression. Names after founding father and local resident Benjamin Franklin, the 18-story, 1,200-room opened on January 14, 1925. It was developed by Niagara Falls businessman Frank A. Dudley and designed by Horace Trumbauer. The hotel closed in 1980 and the …

Sep 2020

Statler-like Revival in Detroit

Detroit celebrated the reopening of the Book Cadillac hotel in 2008. The circa-1924 property, designed by Louis Kamper and vacant since 1984, was renovated at a cost of $190 million. What was once a symbol of the city’s decline, is now a symbol of hope and rebirth. The Westin Book Cadillac Hotel and Residences features …

Sep 2020

Why is the housing market thriving in a pandemic?

The deadliest pandemic in more than a century has failed to derail the housing market because of the lowest mortgage rates ever recorded coupled with a shift in how people use their homes. “The buyers are coming in because of the low interest rates – that’s the No. 1 reason,” said Lawrence Yun, chief economist …

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