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Condo at 111 West 57th Street tops Manhattan luxury contracts

first_imgFull Name* Message* Email Address* Tagscondo marketdonna olshanNYC luxury real estate The contract for the 53rd-floor unit was one of 16 signed last week for Manhattan properties asking above $4 million. (111w57) A deal for a 53rd-floor unit at JDS Development’s 111 West 57th Street condo topped last week’s list of Manhattan luxury contracts.The Billionaires’ Row buyers are a married pair of real estate developers who already own a pied-à-terre in New York City and wanted to upgrade, according to the latest market report from Olshan Realty.The couple flew into New York from Aspen and toured properties for two days, said Sotheby’s International Realty broker Benjamin Pofcher, who represented the couple with Nikki Field. The 4,183-square-foot condo, last asking $26.5 million, has three bedrooms, three and a half bathrooms and views of Central Park.“They sensed the timing was right to get a deal and they got one,” Pofcher told Olshan.The contract was one of 16 signed last week for Manhattan properties asking above $4 million, a drop from 27 the week prior.“I just feel that this is going to be a spotty market,” Olshan said. “You’re going to have some good weeks, you’re going to have some bad weeks, you’re going to have some mediocre weeks — and we will not have a trend line until we can get past this [pandemic].”Of the 16 deals last week, seven were for properties asking more than $10 million, the report said — the most in that price bracket since the first week of March.“I think that is underscoring the fact that the very rich have gotten much richer during this pandemic period,” Olshan said. “All the economic data bears that point out.”The second-priciest deal last week was unit 27 at 50 Central Park South, which was asking $24.5 million — down from $39.5 million when it was listed about two years ago.The 6,829-square-foot, full-floor unit is owned by film producer Sidney Kimmel, who made his fortune in apparel. It features two bedrooms and three terraces.“Most people felt they would gut the entire apartment,” said Douglas Elliman broker Steve Cohen, who represented the seller. “I think we had the right buyer and I communicated with enough brokers to know there was a deal to be had here.”Kimmel, a 93-year-old billionaire whose movies include “Crazy Rich Asians” and “Moneyball,” and his wife Caroline, bought the home for about $29 million in 2001, she told the Wall Street Journal two years ago.Contact Sylvia Varnham O’Regan Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Share via Shortlinklast_img read more

U.S. mall values fall 60% after appraisals

first_img Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Many of the lower-tier malls that will be sold will likely be redeveloped into something else. (Getty)The suburban mall that you frequented as a teenager could now be worth substantially less than the dirt underneath it.U.S. mall values declined 60 percent due to appraisals in 2020, according to an analysis by Bloomberg News. Across 118 shopping centers with commercial mortgage-backed securities loans, about $4 billion was lost after reappraisals caused by delinquencies, defaults or foreclosures.The data suggests a grim outlook for many malls across the country as some of the largest mall owners, including Brookfield Property Partners and Simon Property Group, are increasingly walking away from underperforming properties and handing them over to their lenders.In some cases, malls are being foreclosed on with almost no interest from outside investors. A recent foreclosure auction of a Simon mall outside of Atlanta yielded no bids despite a previous valuation of $322 million.ADVERTISEMENTIn Connecticut, a portion of a shopping center owned by Simon recently saw its value drop by 88 percent after an appraisal.Many of the lower-tier malls that will be sold will likely be redeveloped into something else, according to industry experts.“The orange tile and brown carpeting is just going to be torn down and plowed under and eventually trade at a price someone can build something else there,” Jim Costello of the research firm RCA told Bloomberg.But it’s not just lower-tier malls that are in trouble: The valuation of Class-A malls fell by nearly half since 2016, according to a recent report by Green Street.Mall traffic has dropped significantly across the U.S. because of Covid restrictions and consumer hesitation, which has accelerated the shift toward e-commerce that was already in place. Some retailers have also declared bankruptcy or stopped paying rent on their mall space, further squeezing operators.[Bloomberg News] — Keith Larsen Tags Share via Shortlink Brookfield Property PartnersmallsSimon Town Centerlast_img read more

St. Vincent Evansville Birth Announcements

first_img Monica Bradley and Titus Chambers Jr., Owensville, IN, daughter, Avery Marie, Sept. 24Kimberly Adler, Evansville, daughter, Willow Jean, Sept. 24Kelsey and Cullen Mcgiff, Newburgh, daughter, Quinn Harper, Sept. 24Chrisney McGowan and Randall Johnson Jr., Evansville, daughter, Hailey Ann-Marie, Sept. 25Courtney and Nicholas Bullington, Evansville, daughter, Eliza Kaylynn, Sept. 25An and Joe Nguyen, Evansville, son, Xander Jayce, Sept. 25Emma and Stephen Garcia, Mount Carmel, IN, daughter, Maggie Laine, Sept. 26Miho and Charles Wichman, Evansville, daughter, Veronica Hope, Sept. 26Autumn and William Mattingly Jr., Oakland City, IN, son, Kaden Michael, Sept. 26Samantha and Luke Stauber, Evansville, son, Henry Duane, Sept. 27Lacey Melton and Joseph Wersich, Evansville, daughter, Myra Jo Melton, Sept. 28Maria and Nathan Mull, Henderson, KY, son, Cedric  Nigel King, Sept. 28Mindy and Daniel Enlow, Evansville, son, Oliver Quinn, Sept. 28Kristi Barajas and Alexander Barajas Quiroz, Evansville, son, Giovanni Alexander, Sept. 28Hally Ray and Kevin Wheeler Jr., Evansville, daughter, Elena Rene’e, Sept. 29Jennifer and Eric Bradshaw, Fort Branch, IN, daughter, Ida June, Sept. 29Lachelle and Zac Harper, West Salem, IL, son, Xander Kai, Sept. 30FacebookTwitterCopy LinkEmailSharelast_img read more

Trey Anastasio Band Breaks Out Ghosts Of The Forest Material On First Night In Brooklyn [Photos/Videos]

first_imgTrey Anastasio Band continued their extended weekend run on Sunday with their first of two performances at Brooklyn Bowl in Brooklyn, NY. One of the smaller rooms in which you’ll see TAB play, the Bowl was packed to the brim when Trey Anastasio‘s eight-piece solo outfit took the stage at the beloved concert venue/bowling alley for just the second time ever.Much like the previous two nights at New York’s Beacon Theatre and New Haven’s College Street Music Hall, this show saw Trey continue to blur the lines between the repertoires of his various different projects. On Friday and Saturday, respectively, Trey introduced Phish staples “Blaze On” and “Ghost” into the TAB lexicon. At Brooklyn Bowl, he looked to Ghosts of the Forest for setlist additions, offering the TAB debuts of “A Life Beyond The Dream”, “Brief Time”, and “Stumble Into Flight”.The show began with a pair of Trey Anastasio Band favorites including “Cayman Review” and “Mozambique”, followed by a pair of songs that appear at both Phish and TAB shows, “Everything’s Right”, and “Pigtail”. A Picture of Nectar instrumental “Magilla” came next, followed by Trey Anastasio Band’s first-ever full-band rendition of Phish’s “No Men In No Man’s Land”. The smokey, slow-burn “The Way I Feel” gave Trey a chance to flex his blues chops before excellent renditions of “Gotta Jibboo” and Charlie Daniels Band‘s “The Devil Went Down To Georgia” closed out set one.Trey Anastasio Band looked to an old reliable vehicle in “Sand” to kickstart the second set. “Valentine” and “46 Days” were up next, followed by “A Life Beyond The Dream”, the first the three Ghosts of the Forest tunes to make an appearance on the evening. The set continued with “Simple Twist Up Dave” and the relatively uncommon “Ether Sunday” before the band moved into a bouncy “Ocelot” and a cathartic “Tuesday” to bring the second set to a close.Much like the previous night, Trey emerged solo for the encore for a trio of acoustic songs. However, rather than pulling solely from the Phish catalog for his acoustic mini-set, Trey slipped emotional Ghosts of the Forest tune “Brief Time” in between “Water In The Sky” and “Brian and Robert”. Finally, the band rejoined their frontman for the TAB debut of “Stumble Into Flight” and a set-closing “Set Your Soul Free”.Trey Anastasio Band will be back in action tonight, Monday, April 29th, for their second and final show at Brooklyn Bowl. For a full list of Trey Anastasio Band’s upcoming performances, head here.You can stream a full soundboard audio recording of the show via LivePhish. You can also watch a selection of crowd-shot videos from the performance below:Trey Anastasio Band – 4/28/19 – Set 1 – Full Crowd-Shot Video[Video: rdeal1999]Trey Anastasio Band – “Sand” [Partial] Load remaining images Check out a gallery of photos from the show below courtesy of photographer Andrew Blackstein.Setlist: Trey Anastasio Band | Brooklyn Bowl | Brooklyn, NY | 4/29/19Set One: Cayman Review, Mozambique, Everything’s Right, Pigtail, Magilla, No Men In No Man’s Land, The Way I Feel, Gotta Jibboo, The Devil Went Down To GeorgiaSet Two: Sand, Valentine, 46 Days, A Life Beyond The Dream^, Simple Twist Up Dave, Ether Sunday, Ocelot, TuesdayEncore: Water In The Sky*, Brief Time*^, Brian and Robert*, Stumble Into Flight^, Set Your Soul FreeNotes: *Trey solo acoustic; ^ TAB debutTrey Anastasio Band | Brooklyn Bowl | Brooklyn, NY | 4/28/19 | Photos: Andrew Blacksteinlast_img read more

Summers takes the long view

first_imgWhen former Harvard President Lawrence Summers went to Washington in 2009 to lead President Barack Obama’s National Economic Council, some economists were predicting a one-in-three chance of another Great Depression.Now, with economic collapse averted, a fresh crisis looms: a potential government shutdown. As Democrats and Republicans continue to butt heads over how to balance the 2011 federal budget, Summers jumped into the fray, offering his first public remarks at Harvard since returning to the University in January.“No one should be rushing to cut government spending or the deficit right now,” Summers said in a wide-ranging discussion at the John F. Kennedy Jr. Forum Tuesday  (April 5). With unemployment near 9 percent, America needs public-sector jobs, he added.“I don’t subscribe to the ‘sky is falling’ school,” said Summers, Charles W. Eliot University Professor at the Harvard Kennedy School (HKS) and Frank and Denie Weil Director of the Mossavar-Rahmani Center for Business & Government. But just because America is at least a decade away from truly perilous debt, he said, doesn’t mean Washington should avoid the issue of bringing the national debt under control.“No one can look at the [economic] forecasts out five to 10 years and think that this is a situation that has any high probability of being stable,” he said.Moderated by David Gergen, director of the Center for Public Leadership at HKS, the evening’s conversation touched on everything from fixing the economy to the future of the American job market to Summers’ presence in not one, but two, Oscar-nominated films in the past year.Summers was quick to defend the Obama administration’s handling of the economy, including the controversial $787 billion stimulus package that Summers helped to engineer immediately after Obama took office.“I think the president made the right core choices,” Summers said, agreeing with Obama “that it was better to err on the side of doing too much than of doing too little.”The administration could have done a better job of getting the housing market back on its feet, he said. His economic team also miscalculated how much support it would be able to rally for the stimulus package. It had hoped it could return to Congress for more money down the road, but popular opinion and a Republican backlash kept that off the table.“I understand why many people express the concern that the president should show more leadership,” Summers said. But by moving slowly and building consensus on policies behind the scenes, Obama is trying to avoid “putting forward a plan that is more likely to constitute a basis for target practice than for followership” from his political adversaries.The biggest challenges the American economy faces aren’t rising debt or stagnant business, Summers said, but “increased inequality and decreased opportunity” for the middle class. Even after the economy recovers, one in six men in the United States between the ages of 26 and 54 will remain unemployed, and the gap between America’s wealthiest citizens and everyone else continues to grow.“The last two years saw the best performance of corporate profits [and] the stock market since the Second World War,” Summers said. The business community needs to realize that, regardless of those indicators, “their long-run success depends upon the success of the broader society.”While Summers has made a career of moving between academia and politics, there’s one role he appears to be done with: movie star. He was portrayed in the recent Facebook film “The Social Network” and shown in “Inside Job,” a critical documentary on Washington’s response to the financial crisis.“I liked ‘The Social Network’ better than I liked ‘Inside Job,’ ” he said, eliciting laughter from the audience. In the former film, Summers’ character berates Harvard students Cameron and Tyler Winklevoss for suggesting the beleaguered president intervene in their dispute with Facebook founder Mark Zuckerberg.Summers was told that the Winklevoss twins claimed the scene was accurate, with the exception that in real life Summers “wasn’t nearly that nice.”“I have read in one or two places that I can on occasion be arrogant. And if that is so, I probably was on the occasion of my visit with the Winkle-vi,” Summers said, echoing similar remarks he made last month. “But I decided that Harvard’s student discipline procedures were vexed enough without taking a role in intellectual property disputes.”last_img read more

Wood Mackenzie projects massive growth in energy storage installations through 2024

first_img FacebookTwitterLinkedInEmailPrint分享Greentech Media:For the energy storage industry, the past five years have been something of a stage rehearsal for a market explosion to come, led by the U.S. and China, but expanding to cover markets across the globe.That’s the picture painted by Wood Mackenzie Power & Renewable’s latest report, Global Energy Storage Outlook 2019: 2018 Year in Review and Outlook to 2024. Tuesday’s report projects that energy storage deployments will grow thirteenfold over the next six years, from a 12 gigawatt-hour market in 2018 to a 158 gigawatt-hour market in 2024.That equates to $71 billion in investment into storage systems excluding pumped hydro, with $14 billion of that coming in 2024 alone. This growth will be concentrated in the United States and China, which will account for 54 percent of global deployments by 2024, followed by Japan, Australia and South Korea in a second tier of growth markets, and Germany, Canada, India and the U.K. rounding out the list.And much like the renewables that are driving their growth, the batteries that make up the lion’s share of new storage systems being deployed are falling in price. That’s positioning them for a much broader integration into grid operations beyond renewables integration, Ravi Manghani, WoodMac’s head of storage research, noted in a Tuesday interview: “Over the last five years, the world began to experiment with storage; in the next five, storage will become a key grid asset.”Last year saw global energy storage deployments grow 147 percent year-over-year to reach 3.3 gigawatts, or 6 gigawatt-hours, the report states. That’s nearly double the average 74 percent compound annual growth rate for the industry from 2013 to 2018. In fact, last year’s deployments made up more than half of the total amount of storage deployed in the past five years, “indicating an inflection in storage demand,” Manghani said.More: Global energy storage to hit 158 gigawatt-hours by 2024, led by U.S. and China Wood Mackenzie projects massive growth in energy storage installations through 2024last_img read more

U.S. Army South Completes PKO-A 11, ‘Vital’ To Brazil’s Planning for World Cup, Olympics

first_img PKO-A 11 was designed to bring nations together to enhance regional relations, reinforce security arrangements, promote interoperability and obtain support for mutual security interests. In addition, the professional development engagements promote and improve cooperative measures and collective military capabilities, and support and enhance democracy and stability in the Latin American and Caribbean region. During PKO-A 11, participants negotiated their way through a mock election process. The scenario forced members of 16 different nations to work together to ensure the peaceful completion of a fictitious country’s elections, and also react to a simulated, mid-scenario earthquake that required the participants to plan and provide humanitarian assistance without losing site of the primary mission. “I know the friends I made here will help in the future,” said Brazilian Col. Paulo Eduardo Monteiro, a PKO-A 11 participant. “It really helps when you make a call and you recognize the voice on the other end. When you ask for help, you know he’ll come and support you.” ARSOUTH participated in the closing ceremony of PKO-A 11 in Brasilia, Brazil, May 13. PKO-A 11 is an annual, U.S. Army South-led, regionally oriented command post exercise involving partner nation armed forces from within the Western hemisphere. ARSOUTH was the executive planning agent for PKO-A 11. The Brazilian armed forces believes the U.S. Army South-led Peacekeeping Operations – Americas 2011 exercise has helped its country in its preparations to host two of the world’s largest sporting events. “The intent was for us to be able to capitalize on the abilities and the experiences of all the countries involved in terms of peacekeeping operations,” said Maj. Gen. Luis R. Visot, the PKO-A 11 co-director and commanding general of the 377th Theater Sustainment Command. “The key here was the exchange of ideas and to build trust in each other.” center_img “We will be able to gain from all the lessons we have learned here and move forward,” said Brazilian Maj. Gen. Fernando S. N. Ferreira, PKO-A 11 co-director. “Everything we gathered here will be vital to our ability to plan for the 2014 World Cup and 2016 Olympics.” Besides the technical skills developed during PKO-A 11, a secondary goal for the exercise was to develop working relationships among the many partner nations involved. By Dialogo May 24, 2011 The two-week command post exercise, which kicked off May 2, is the capstone event in a series of professional development engagements and command post exercises. These activities increased participants’ capabilities and prepared partner nations to conduct peacekeeping and humanitarian assistance operations worldwide. last_img read more

Barnett, Barrera win Medal of Honor awards

first_img Barnett, Barrera win Medal of Honor awards Martha W. Barnett, the first woman to serve as the chair of the ABA House of Delegates and the second woman president of the ABA, received The Florida Bar Foundation 2002 Medal of Honor for a lawyer.Raul G. Barrera was also honored with a Foundation Medal of Honor for his contribution to the improvement in the administration of justice as a non-lawyer.The awards were presented at the Foundation’s 26th annual reception and dinner June 20 in Boca Raton in conjunction with the Bar’s Annual Meeting.Barnett received her award for “her courageous support of a moratorium on the death penalty, her determined work benefiting the descendants of the 1923 Rosewood massacre, and her advocacy to maintain the impartiality of the judicial system.”The Foundation said Barnett challenged the traditional roles of women in law, becoming the first female attorney to join the law firm of Holland & Knight and later to become its first female partner. Practicing in the areas of administrative and governmental law, she has distinguished herself as a leading lobbyist in the state. In 1994, Barnett’s commitment to human rights assisted in securing $2.1 million for surviving descendants of the 1923 Rosewood Massacre, a tragedy which resulted in the deaths of eight black men and women and destroyed a predominately African-American Florida town.That same year saw Barnett as the first woman to serve as the chair of the ABA House of Delegates. In 2000, Barnett went on to become the second female president of the ABA, using her position in an effort to promote a moratorium on the death penalty.“Throughout these many roles, Barnett has proven time and time again to be a champion of the rights of the poor and unpopular,” according to the Foundation.Barrera was nominated by Florida Legal Services, Inc. Barrera has dedicated more than 35 years to secure justice for migrant farmworkers.Barrera, a paralegal, began his career as an outreach worker for migrant farm-workers in Indiana in 1967, and in less than 10 years rose to the position of Indiana State Director of Associated Migrant Opportunity Services. In 1977, Raul joined the staff of Texas Rural Legal Aid, Inc., where he again provided outreach services in extremely isolated rural areas of Texas. During this time, he also developed community education programs, represented migrant farmworkers in administrative hearings, and assisted in major litigation lawsuits aimed at improving the lives of migrant workers. In 1996, Raul moved to Florida to serve as the only outreach worker on the Migrant Farmworker Justice Project, providing outreach expertise and maintaining contact with hundreds of isolated migrant farmworkers throughout the state.“His accomplishments in this position are the result of Raul’s steadfast and tireless commitment, offering inspiration to the abused worker that justice will be served on their behalf,” according to the Foundation.The Florida Bar Foundation Medal of Honor Award Program was established in 1977 to recognize outstanding achievements in improving the administration of justice in Florida. Two categories of award recipients have been designated. The first is for a member of The Florida Bar who has demonstrated his or her dedication to the objectives of The Florida Bar as set out in the Rules Regulating The Florida Bar: “.. . to inculcate in its members the principles of duty and service to the public, to improve the administration of justice and to advance the science of jurisprudence.” The second is for a nonlawyer or person not actively engaged in the practice of law who has made an outstanding contribution to the improvement of the administration of justice through research, writing, or other deeds of such character and quality that, in the judgment of the Foundation, warrant the highest award that can be bestowed by the Foundation. July 15, 2002 Regular Newscenter_img Barnett, Barrera win Medal of Honor awardslast_img read more

The credit union member experience: Why digital is the future

first_img 30SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Credit Unions across the US are focusing on Member Experience as their core reliable mantra to grow. Member Experience programs are being designed carefully and strategically to ensure that members and their needs are listened to and taken care of. In an attempt to understand why more and more credit unions are undergoing this change in mindset, we spoke to Ralph Cumbee, Chief Experience Officer of Solarity Credit Union, a Washington State-based Credit Union serving over 50,000 members.Ralph has been in the financial services industry for over 25 years; we had the opportunity to catch up with him and understand the nuances of Member Experience in Credit Unions. He spoke about a lot of exciting and forward-thinking concepts, drawing some funny yet hard-hitting analogies along the way.We’re happy to share with you all the wisdom that we gathered from our chat with him!CloudCherry: Can you take us through how you started off on the member experience journey? continue reading »last_img read more

But I want more!

first_img 3SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Christie Summervill Christie Summervill’s vision and expertise led to the creation of BalancedComp in 2010, a firm that has grown to serve nearly 300 banks and credit unions across the US … Web: Details A long time ago in the land of Financial Bliss where money is never a problem, there was a new CEO who felt undervalued because his base pay was not at the midpoint of the salary range. This was his first CEO position and he had done a truly stellar job of getting the “problematic” credit union back in the black in only two years. Accolades went out from the board, management team, and employees. Still, the young CEO was greatly disappointed in his $48,000 salary increase, which put him at 92% of the midpoint. After all, he’d put two years into the job and achieved his goals.The analysts were ordered to make sure the market rate was truly accurate. The board vehemently assured the CEO that he was exceeding expectations and they had nothing but great respect for their new trailblazer. “What should we do? “cried the Chairman. Some of the board said “Give him what he wants. He might leave us for a better opportunity.” Other board members said, “If we cave, we are setting a precedent and he will never be satisfied.”So, they called in the Great Fairy Consultant who asked what their compensation philosophy was. “It’s to be competitive to the market!”, they said in unison. After looking into all the credible surveys of the land, she confirmed their established salary range was indeed accurate and a 92% compa ratio after only two years of experience is aggressive, but in alignment with excellent performance.” “But he is still not happy!” exclaimed the incoming Chairman.  “It feels good to make people happy, reflected the Great Fairy Consultant, “but people whose happiness is based on always getting what they want are difficult to keep happy, even if you achieve it in the short run. Situational ethics can get you in trouble. What if the next CEO is a member of a protected class and you pay them differently for reasons that have nothing to do with their gender or class status? Discrimination could be alleged. Follow the yellow brick road to your guidelines and you will find your answer.” “Make him like us and be happy with our salary increase and bonus”, they angrily demanded. “Ok, lets have him take a bite of this beautiful red apple” replied the Great Fairy Consultant. “Will that really work?”, asked the board. “Of course not, you Sillies.” laughed the Great Fairy Consultant. “Own your compensation philosophy or change it.”After reviewing his total cash compensation, it was noted that his short-term annual bonus was less than what an average performing CEO would be compensated and his performance scorecard required a nearly perfect performance level to get an average salary increase. They recreated his scorecard, increased his short-term bonus to be more in alignment with the market and moved the midpoint to the 60th percentile to be more competitive; still paying his base pay at 92%. “Often times it is the ambiguity of how the salary increase and bonus are determined that is the real problem,” explained the Great Fairy Consultant. The new CEO found the new plan “ moderately acceptable for the time being” and they all lived happily ever after, until the next year. The Endlast_img read more