Jake Van Ness, Author at Saratoga Business Journal

Jake Van Ness

2079 Articles

NYS Liquor Authority Accepting Permits For Craft Brewers To Sell While License Pending

April 11, 2022

The State Liquor Authority is accepting applications for new permits to allow craft beverage manufacturing businesses the ability to manufacture and sell alcoholic beverages while their liquor license is pending.

The new permits can generally be processed and approved in less than 30 days, compared to applications for new licenses that currently take an average of six months, expediting the time it takes to open new craft beverage manufacturing businesses throughout the state, officials said.

The permits allow businesses to manufacture and sell alcoholic beverages for a period of six months, or until the full application is approved, for a fee of just $125. The new permits may be extended for a three-month period for an additional $50 fee if necessary.

“New York’s craft beverage industry is not only a source of local pride, but also creates jobs and drives tourism in every corner of the state,” Governor Kathy Hochul said. “These fast-tracked permits will allow new businesses to hit the ground running by opening quickly and making immediate contributions to their local economies. This is another step in furthering our administration’s efforts to cut red tape, ease regulations, and make commonsense reforms to help these businesses grow and thrive.”

Legislation signed by Hochul in December created new temporary permits for breweries, wineries, distilleries, cideries and meaderies, allowing them to open while awaiting the final approval, preventing accrued costs in rent and maintenance after the location and equipment have been acquired. There are currently 81 permit applications pending for craft manufacturers statewide, officials said.

Miranda Real Estate Group Opens Office On Saratoga Lake, Its Third In Capital Region

April 11, 2022

Miranda Real Estate Group Inc. recently opened this new office on Saratoga Lake.
©2022 Saratoga Photographer.com

By Christine Graf

Miranda Real Estate Group Inc. recently opened its third Capital Region office at 1412 Route 9P on Saratoga Lake in Saratoga Springs. In addition to its corporate office in Clifton Park, the company has a satellite office in Rotterdam.

Owner Willie Miranda, a real estate broker with 29 years of industry experience, is also the owner of Miranda Insurance Agency, an Allstate Insurance franchise in Clifton Park. When the Schenectady native and Clifton Park resident opened his real estate company 20 years ago, his staff included four agents.

“Little by little we went from a small team to a big team. In 2009, we were the number one team in the Capital District, and in 2011 I decided to be more of a broker—helping other agents build their business within our business,” he said. “We’re currently at about 89 agents.”

Because the company does a considerable amount of business in Saratoga, opening an office on Saratoga Lake made good business sense.

“There was an opportunity that came up that we thought would be good for our business,” said Miranda. “There are no other real estate brokerages that have an office on Saratoga Lake.”

Miranda Real Estate Group handles both residential and commercial properties. The company’s residential agents have been especially busy over the past several years.

Longtime Real Estate Agent Anne Cabral Opens Her Own ‘Glorious Day’ Company

April 11, 2022

Anne Cabral, right, owner of Glorious Day Real Estate, with Emmali Cabral.

By Christine Graf

After seven years of working as a commercial Realtor at Berkshire Hathaway, real estate broker Anne Cabral made the decision to venture out on her own.

At the end of 2020, she established Glorious Day Real Estate, a commercial and residential real estate company with an office in Ballston Lake. Cabral recently relocated her office to a newly-renovated 2,500-square-foot space at 763 Saratoga Road in Burnt Hills. She is leasing the property with the option to buy.

While at Berkshire Hathaway, Cabral earned her broker’s license and gained experience as an associate broker. It was during the early days of the pandemic that she began to seriously consider the possibility of opening her own real estate company. At the time, the commercial real estate market was at a standstill.

“It gave me a lot of time to think,” she said. “It was one of those things where I knew that if I was going to go out on my own that now was the time to do it. I had thought about it for a while but had just never really had the time. Starting a new business takes a lot of work.”

While working on her business plan, Cabral reflected on her career as a real estate agent. She thought about the things she liked as well as those that she didn’t.

“One of the things that I really don’t like about the real estate industry is that brokers can take listings. Agents are in competition with their broker, and I felt that if I were a broker to agents that I would like the agents to be my clients. I would like to be available to help educate, inspire, and support them with their clients,” she said.

It was for that reason that Cabral made the decision to forgo taking on clients of her own. Although she is sometimes asked to co-list a property with one of her agents, she does not share in the agent’s commission.

Local Builder Says Supply Shortages Still Severely Hurting The Building Of New Homes

April 11, 2022

This is a modular chalet built recently in Bolton Landing by Saratoga Modular Homes. Developer Cecil Provost says supply shortages are a problem in the construction industry.

By Christine Graf

As demand for new homes surges throughout the country, supply shortages and price increases continue to plague the construction industry. According to the National Association of Homebuilders (NAHB), more than 90 percent of builders experienced materials shortages and delays in 2021.

Builders were encouraged when lumber prices began to fall after a record high in May of 2021, but prices began to climb again in December. The average cost of lumber is now about three times more than it was before the pandemic, industry officials say.

Economists predicted that supply chain shortages and material costs would begin to ease, but that was before Russia invaded Ukraine. Experts say the war in Ukraine will disrupt supply chains and further exacerbate shortages and price increases. The increase in oil and gas prices that have resulted from Russian sanctions will also impact production and transportation costs.

According to Cecil Provost, owner of Saratoga Construction and Saratoga Modular Homes, increased material costs have caused the average home price to skyrocket.

His companies build custom “stick-built” homes as well as custom modular homes. Stick-built homes are constructed on the job site, whereas modular homes are built in sections at a factory.

“Our specialty is building custom homes with modular construction. We are typically doing porches, and garages, and decks, and higher end finishes. What’s unusual about us is that we design every home from scratch for the customer. We can customize it right down to the bathroom faucets. We are the only builder that I know of in this region and one of the few in the northeast that do what we do.”

Business Report: How Wide Is Your Perspective?

April 11, 2022

Steven Luttman, broker/owner of SJ Lincoln Realty, host of The Expected Returns podcast.
Courtesy Steven Luttman

By Steven Luttman

Few things warm my heart more than a trip to the Lake George outlets.

Some might say cheap, others prefer “financially thoughtful,” but no matter what you call it I like finding a good deal. No doubt many of you feel the same way. Think for a moment about a purchase you’ve been considering recently.

If this item were to become available for 79 percent less than its historical price how excited would that make you? That’s an amazing value. People line up hours in advance for Black Friday deals less great than this. But before you take out your wallet, what if at this exact same time last month the item could be had for 85 percent off. Given that the discount has shrunk, is it still attractive today? Of course, it’s a no brainer.

Freddie Mac’s weekly lender survey found the average 30 year fixed rate mortgage closed out the month of March at 4.67 percent, a sizable jump from the sub 3 percent we were seeing as recently as November.

For anyone that’s been eyeing a home purchase or refinance it’s easy to think “I’ve dropped the ball here, rates are just way too high now”. With a short term perspective you wouldn’t be wrong. However if you were to line up the average rate for every single week over the past 50 years, rates are lower today than they’ve been for almost 80 percent of those data points since 1971.

The rise in borrowing costs we’ve seen in 2022 can be attributed primarily to the Federal Reserve, who in an effort to combat inflation recently announced their first increase to the target Fed Funds rate since 2018. While Chairman Powell can influence short term yields via monetary policy, longer dated maturities are dictated more so by the buying and selling of Treasuries done by investors. It’s the latter that drives mortgage rates.

Woman Who Adopted Holistic Lifestyle To Combat Paralysis Is Yoga Studio Owner

April 11, 2022

Samantha Lyman owns Yana Yoga in the Malta Commons Business Park in Malta.
©2022 Saratoga Photographer.com

By Christine Graf

Saratoga Springs native Samantha Lyman is the new owner of Yana Yoga located in the Malta Commons Business Park at 100 Saratoga Village Boulevard in Malta.

She purchased the business from Amber LaPointe who continues to teach classes at the yoga studio.

Lyman has been practicing yoga for 13 years, but it wasn’t until six years ago that she became a certified yoga instructor. She pursued her training after experiencing a medical crisis that altered the course of her life. At that time, she had two young children and was working 80-hour weeks for a local property preservation company.

“I woke up one morning and I was paralyzed,” she said. “I couldn’t walk. I couldn’t talk. My vision was impaired.”

The Utica College graduate was rushed to Albany Medical Center and for the next four months she was in and out of the hospital. Her condition baffled doctors who eventually concluded that Lyman suffers from an autoimmune disease that causes her adrenal glands to shut down when her body in under stress. Although her actual diagnosis was inconclusive, she said the disease is similar to lupus.

It was only after Lyman adopted a holistic lifestyle which included eating only “food from the ground” that her health gradually started to improve.

“Before my illness, I was eating processed foods, working ridiculously long hours, and practicing no self-care,” she said. “I started drinking celery juice non-stop, eating lots of sweet potatoes and greens, and practicing a lot of medication and yoga. It was through that mind body connection that I was able to bring myself out of it. After I got back into my yoga practice, I never put it back down again. It literally saved my life.”

Manuel Astruc, M.D., Uses Little-Known Technology To Treat People For Depression

April 11, 2022

Manuel Astruc, M.D., uses a Transcranial Magnetic Stimulation machine on a patient.
©2022 Saratoga Photographer.com

By Susan Elise Campbell

When Manuel Astruc, M.D., expanded his psychiatric practice years ago from a solo office to one with four nurse practitioners and specialists, he said “the pattern shift would have a bigger impact on the mental health of the community.”

Now Astruc has introduced a new modality, the first in Saratoga County, that he believes will have the same positive effect. The little-known TMS technology he has acquired has been FDA approved for more than 10 years.

“Mental health in the workplace and the impact of depression on company production is a problem,” he said.

According to the Center for Disease Control, “the percent of physician office visits with depression indicated on the medical record is 10.6” and “the percent of emergency department visits with depression indicated on the medical record is 11.2.”

“Even medical professionals and therapists don’t know it’s available,” said Astruc, who has lived and practiced in the Saratoga area for more than 26 years.

TMS stands for Transcranial Magnetic Stimulation, a machine that stimulates deep areas of the brain and “advances the treatment of mental health disorders without medications or side effects,” he said.

One reason many sufferers of depression, obsessive-compulsive disorder and addiction have been unaware of the existence of TMS therapy is because it is expensive to bring into a psychiatric practice and costly to use in terms of time and manpower, according to Astruc.

Business Report: IRA Distributions For Hybrid Long-Term Care

April 11, 2022

Brian Johnson, director, business development at Advisors Insurance Brokers.
Courtesy Advisors Insurance Brokers

By Brian M. Johnson, MBA, CLTC

Many clients have qualified assets they intend to use for retirement income. However, there is one risk that could potentially jeopardize even the most well thought out plan—the need for long-term care or extended healthcare.

Long-term care is defined as needing assistance or supervision with everyday activities of daily living or ADL’s. A long-term care event is generally not cure oriented and the need for services, whether in home or a facility, is expected to last longer than 100 days. This type of care of referred to as custodial care, and a reason why traditional health insurance, Medicare and/or Medicare Advantage plans don’t cover it. Our default plan includes trying to qualify for Medicaid, which is a financially means tested program, which typically covers a nursing home, zero assisted living and limited home care or to use our own assets and income.

A hybrid long-term care policy is another popular way to address the risk. It’s a type of permanent life insurance policy which offers three core benefits: An income tax-free life insurance death benefit long-term care services aren’t needed, cash indemnity benefits to pay for home care, assisted living and/or skilled nursing and a return of premium rider, which allows the insured to surrender the policy and receive either all or a portion of their premiums back with no penalty or charges.

Unlike a traditional long-term care policy, policy premiums are guaranteed and can never increase and benefits for are paid in cash to the insured, meaning the insured can use the funds however he/she sees fit, whether it’s to offset other bills, pay a family member or licensed providers. It’s an asset allocation approach to financing long-term care needs.

Hospital Offers Interviews To Those Who Complete SUNY Adirondack Tech Course

April 11, 2022

SUNY Adirondack and Saratoga Hospital have entered into a partnership that guarantees individuals who complete the college’s sterile processing technician course an interview for open technician positions at the hospital.

“This is an incredible opportunity for those interested in this rapidly growing field to get the training they need to secure a fulfilling, in-demand career,” said Caelynn Prylo, assistant dean for Continuing Education and Workforce Innovation at SUNY Adirondack. “SUNY Adirondack knows Saratoga Hospital needs skilled, highly trained applicants, and we are thrilled to be able to provide them.”

Saratoga Hospital will offer interviews to participants who successfully complete the sterile processing class. The positions available at the hospital include a competitive benefits package with medical, dental and vacation time.

The sterile processing technician course is one of two 12-week courses offered by SUNY Adirondack through Workforce Readiness Academies Program (WRAP) Reimagine Grant, funded by state and federal Departments of Labor. For no cost, qualified applicants can participate in sessions in sterile processing or python for data analytics.

Interested individuals must be at least 18 years old and have been impacted by the COVID-19 pandemic.

SUNY Empire State Gets Grant To Help Boost Enrollment In Its Nursing Program

April 11, 2022

SUNY Empire State College will enhance nursing program to address the state and nation’s critical nursing shortage

The college has received a $245,580 grant from the SUNY system that is expected to boost enrollment in the college’s nursing program and help address the state and nation’s critical nursing shortage, officials said.

The funds are part of a $3 million SUNY Nursing Emergency Training Fund designed to enable more students to enroll in SUNY’s nursing programs. SUNY Empire will use the money to offset the initial cost of hiring a full-time faculty member and an operations coordinator in its nursing program.

The funding, which will be available July 1 after the state budget is approved, will enable the college to increase enrollment at the School of Nursing and Allied Health by 100 students.

In all, SUNY campuses have more than 70 accredited nursing programs. SUNY campuses were eligible to apply for funding of up to $250,000. The funding can be used in various ways, including curricula development, partnership expansion, and the purchase of instructional equipment and technology.

At SUNY Empire, most of the additional students are expected to come through the Multi-Award Nursing Program that SUNY Empire shares with Nassau Community College (NCC). NCC received $247,000 from the same SUNY funds to expand their nursing program.