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When it comes to commercial real estate lending, banks are open for business

John Cothran, a real estate investor from South Carolina, closed on the purchase of 600 East Ave. this past fall without ever visiting the property. (photo by Kevin Oklobzija).

The coronavirus pandemic has devastated the hospitality industry and exacerbated on some fronts the continuing decline of brick-and-mortar retail, but lenders still have their checkbooks open when it comes to commercial real estate investment. You may not want to propose ...

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Eviction, foreclosure protection extended until May 1

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Tenants financially burdened by the coronavirus pandemic will not face eviction proceedings until at least May 1, thanks the latest legislative action in New York. The COVID-19 Emergency Eviction and Foreclosure Prevention Act of 2020 prevents residential evictions, foreclosure proceedings, ...

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Commercial real estate industry fearful of Biden tax plan

A former Rite Aid at the corner of Stone Road and Dewey Avenue in Greece. Many in the commercial real estate sector are concerned the sale of properties like this could be curtailed if a crucial element of President-elect Biden’s tax plan is enacted. (Photo by Kevin Oklobzija)

The tax plan proposed by President-elect Joe Biden could have a major negative impact on the commercial real estate industry. Biden’s proposal includes the elimination of like-kind exchanges, commonly referred to as a 1031 exchange, and would apply to real ...

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Pueblo Nuevo I will create 75 homes in El Camino neighborhood

Pueblo Nuevo I will create 75 homes in the North Clinton and Joseph Avenue area (rendering provided by New York State Homes and Community Renewal).

Further transformation of Rochester’s El Camino neighborhood kicked off on Thursday with the official groundbreaking of Pueblo Nuevo I. Pueblo Nuevo (“new town” in Spanish) is a $25 million redevelopment project spearheaded by Ibero-American Development Corp., the development arm of the ...

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When it comes to buying a house, Irondequoit is the hot market

Houses like this one on List Avenue in Irondequoit are selling rapidly. The zip code of 14617 is the third-hottest in the country, according to realtor.com. (Provided photo)

For nearly a half century, three generations of the Walther family have trumpeted the virtues of owning a home in Irondequoit. A whole lot of people now agree. Only two ZIP codes in the country are hotter than 14617, which encompasses a ...

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Homes selling faster in Rochester than anywhere in the country

This three-bed room house on Woodcrest Road in Greece spent just nine days on the market before it sold in April (photo by Kevin Oklobzija).

We’ve all surely seen it: the For Sale sign goes up on a house in the neighborhood on a Thursday and, barely a week later, the SOLD placard has been attached. Such is the state of the real estate market ...

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Wolch elected president of Estate Planning Council of Rochester

Lorraine Wolch has been elected president of the Estate Planning Council of Rochester for 2021-22 (provided photo).

Lorraine Wolch, founder and president of LPWolch CPAs, P.C., has been elected president of the Estate Planning Council of Rochester for 2021-22. Wolch has nearly 40 years of experience as a CPA and is a former lecturer in taxation and ...

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Inventory of available homes dropped even further in Monroe County

Monroe County has the lowest inventory of available homes for sale of any county in the state, according to January data from the New York State Association of Realtors. There was just a 1.4-month supply of homes for sale in ...

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New York enclave with Nazi roots agrees to change policies

YAPHANK, N.Y. (AP) — An enclave of former summer bungalows, where Nazi sympathizers once proudly marched near streets named for Adolf Hitler and other Third Reich figures, is being forced to end policies that limited ownership to people of German ...

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Trump Tower resident who listed apartment on Airbnb pays $1K fine

NEW YORK (AP) — An Airbnb host who was renting out her Trump Tower apartment is among the first to pay a fine to New York City under a law banning advertising listings for short-term rentals. The host and owner ...

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US new-home sales climb to 8-month high in March

WASHINGTON (AP) — U.S. sales of new homes shot up in March to the fastest pace in 8 months, as more Americans are upgrading their houses in a positive sign for the broader economy. The Commerce Department said Tuesday that ...

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