News: Brokerage

GDC Goes Smoke-Free in all new rentals in the Hudson Valley

Ginsburg Development Companies (GDC), one of the largest residential developers in the Hudson Valley, is going smoke-free in all of its new rental apartment complexes. The new smoke-free policy applies to almost 700 luxury rental units coming on line in Yonkers, Ossining, Hastings-on-Hudson and Haverstraw. Residents and their guests will be prohibited from smoking in their apartments, the common areas and even outdoor areas such as pools, cabanas and other property amenities. "This is an idea whose time has come," said Martin Ginsburg, founder and principal of Valhalla-based GDC. "People, especially young adults, are more health-conscious and more sensitive to secondhand smoke than ever before. We've had residents complain about smoke drifting in from their neighboring apartments. Even one or two people smoking in a building can make a lot of other residents uncomfortable." Ginsburg's move was applauded by Maureen Kenney, director of POW'R Against Tobacco, an organization that works to reduce tobacco use in Putnam, Orange, Westchester and Rockland counties. "Everyone deserves to breathe fresh air," Kenney said. "As consumers are becoming more aware of the dangers of secondhand smoke, the demand for smoke-free housing options has steadily trended upward over the past decade." She cited a study showing that 60 percent of the air in an apartment building comes from surrounding units - a sobering fact in light of a 2014 report from the U.S. Surgeon General which concluded that there is no safe level of exposure to secondhand smoke. Secondhand smoke increases risk of heart disease, cancer and strokes in adults. Children and infants exposed to secondhand smoke are more susceptible to respiratory problems, middle ear disease and Sudden Infant Death Syndrome, according to the Surgeon General. "We hope that many developers across New York State and across the country will follow Martin Ginsburg's lead," Kenney said. "This is a policy decision that will no doubt improve the health and quality of living of his tenants." The American Lung Association of the Northeast also praised Ginsburg for the move. "We applaud ​Ginsburg Development Companies for their decision to make their new rental apartments smoke-free," said Jeff Seyler, president & CEO of the American Lung Association of the Northeast. "Secondhand smoke exposure is linked to asthma attacks and many other health ailments. The American Lung Association of the Northeast strongly supports efforts to make places smoke-free where people work, live and recreate. We look forward to seeing even more smoke-free properties across our region." GDC has four major luxury rental buildings in development in the Hudson Valley. They include: River Tides at Greystone in Yonkers is a 330-apartment complex under construction overlooking the Hudson River and Palisades by the Greystone Metro-North train station. Completion is scheduled for spring 2016. Harbor Square in Ossining is a 188-unit luxury apartment building under construction on the Hudson and adjacent to the Ossining train station. Harbor Square will also include a new restaurant and public park and waterfront promenade. The first residents are expected to move in by March 2016. Riverside in Haverstraw is a 106-unit luxury rental building that is the latest phase of The Harbors at Haverstraw development. The Riverside leasing center will be opening with model units in June. The Lofts at Saw Mill River in Hastings-on-Hudson is a 66-unit luxury rental building that is breaking ground this month.
MORE FROM Brokerage

Berger and Koicim of Marcus & Millichap sell 17-unit multi-family for $8.8 million

Manhattan, NY Marcus & Millichap negotiated the sale of 207 E. Fourth St., a 17-unit mixed-use multi-family property the East Village. The asset sold for $8.8 million. “This transaction underscores
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
AI comes to public relations, but be cautious, experts say - by Harry Zlokower

AI comes to public relations, but be cautious, experts say - by Harry Zlokower

Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,
Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.
Strategic pause - by Shallini Mehra and Chirag Doshi

Strategic pause - by Shallini Mehra and Chirag Doshi

Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account