Here’s what tenants are paying at One Park Ave

May 12, 2021

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first_imgVornado’s Steven Roth and One Park Avenue (Getty, Vornado)Since first taking up 83,000 square feet at One Park Avenue in 1999, NYU Langone Medical Center has expanded its office space at the property more than 10 times.The medical center most recently increased its footprint last fall, bringing the total to 633,000 square feet in one of Manhattan’s largest office leases of 2020, according to Colliers International. Located four blocks west of Langone’s main medical campus on First Avenue in Midtown South, the building is one of the hospital’s key administrative addresses.Canada Pension Plan Investment Board acquired a 45 percent stake in the 20-story mixed-use property in 2014, while Vornado Realty Trust owns the rest. The landlords have since spent more than $64 million on capital improvements including lobby and elevator upgrades.In February, Vornado and CPPIB refinanced the building with a $525 million single-asset CMBS loan from Deutsche Bank and Barclays. Documents associated with the securitization provide an inside look at the property’s finances.As of February, the 943,000-square-foot property was 98 percent leased to 22 tenants, with a weighted average remaining lease term of more than 20 years. This figure is boosted by NYU Langone’s lease, which extends through 2050 and accounts for 67 percent of the building’s rentable area.In addition to 595,000 square feet of office space, NYU Langone leases 21,000 square feet of retail space and 17,000 square feet of storage space. One Park Avenue has 96,000 square feet of retail space and 40,000 square feet of storage space in total.The second largest tenant at the property is Robert A.M. Stern Architects, whose headquarters are on the 16th and 17th floors. The firm is known for designing many of New York’s major luxury condo projects, including Vornado’s 220 Central Park South.Read moreVornado to get $525M to refi One Park AvenueArchitect Robert A.M. Stern taking 62K sf at One Park Avenue Message* The third-largest tenant is Related Companies-owned Equinox, which has a 37,000-square-foot health club and 28,000 square feet in office space at the property.Due to the impact of the pandemic, Equinox was granted a rent reduction and deferral for July to September last year, to be paid back over 21 months — and was seeking additional rent relief as of February, according to the loan prospectus. Overall, rent collections at the building stood at 96 percent at the end of 2020.One Park Avenue has a peculiar condominium structure which allows NYU Langone to benefit from property tax exemptions due to its non-profit status. The building is divided into two condominium units, one of which is fully leased to NYU. NYU’s leasehold interest, in turn, is subdivided into condominium units which the city’s Department of Finance treats as property owned by NYU.Contact Kevin Sun Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Tags Full Name* Email Address* Share via Shortlink Office LeasingTRD InsightsVornado Realty Trustlast_img read more


Satellite Experiments Simultaneous with Antarctic Measurements (SESAME)

May 9, 2021

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first_imgSatellite Experiments Simultaneous with Antarctic Measurements (SESAME) is one of the four ground-based programmes within the NASA/ISAS Global Geospace Science (GGS) mission, itself part of the International Solar-Terrestrial Physics (ISTP) programme. The scientific objectives of SESAME are carefully selected to make an invaluable contribution to the GGS mission by capitalising on the unique geophysical advantages of Antarctica for geospace research. These arise mainly from the large displacement of the geographic and geomagnetic poles. Specifically, SESAME is designed to study the ionospheric effects of merging at the magnetopause, reconnection in the geomagnetic tail and its relationship to substorms, mapping of significant geospace boundaries to ionospheric altitudes, plasma wave generation and propagation at high latitudes, and ionosphere-thermosphere interactions. The experimental programme is centred at Halley (76° S, 27° W) but also utilises automatic geophysical observatories located poleward of Halley. The suite of instruments provides an excellent image of the inner boundary of geospace and thus is complementary to the GGS spacecraft measurements. The data products that will be supplied askey parameters to the GGS experimenters on a routine basis are described. A brief review of previous results is presented, and some of the significant scientific questions to be addressed using the combination of ground-based and space-based observations are discussed.last_img read more


Dixie State Pounds Western Colorado To Sweep Weekend Series At Home

May 8, 2021

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first_imgJanuary 25, 2020 /Sports News – Local Dixie State Pounds Western Colorado To Sweep Weekend Series At Home FacebookTwitterLinkedInEmailST. GEORGE, Utah-Dason Youngblood and Hunter Schofield posted 21 points and 7 rebounds apiece as the No.23 Dixie State Trailblazers pounded Western Colorado 87-57 Saturday evening at Burns Arena in Rocky Mountain Athletic Conference men’s basketball action.Dixie State shot 58.3 percent (35-60) from the field for the game in improving to 16-3 and 11-2 in RMAC play.Youngblood and Schofield also shot a combined 18-27 from the field in amassing their symmetrical statistics in the win.Dixie State built a 40-29 lead at halftime en route to the easy victory against the Mountaineers, who fell to 7-12 and 4-9 in RMAC play.Matthew Ragsdale’s 14 points led Western Colorado in the loss.Dixie State returns to action Friday and Saturday on the road as they visit Fort Lewis and Adams State respectively as the Trailblazers seek to stay in first place in the RMAC.Black Hills State is close behind Dixie State at 10-2 in the conference standings and 16-5 overall. Tags: Dixie State men’s basketball Written by Brad Jameslast_img read more


Hunters share price drops despite upbeat results

May 7, 2021

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first_imgHunters’ York headquarters.The City’s belief that even the largest estate agent chains have an underlying problem is highlighted by the Hunters share price which, after its up-beat annual results were announced last week, has dropped significantly.Since December last year the Hunters PLC share price on AIM had been holding steady at around 65p but on the day the results were issued dropped to 58p – and has since only recovered slightly.This is despite the York-based company revealing a 31% rise in pre-tax profits to £1.8 million on revenues of £13.8 million, up 15% compared to the year before.Branch openingsHunters says all its growth has come from franchisee branch openings, of which there are have been ten taking place every year, on average.In its results Hunters also predicting that it would outperform the market by 7% this year, and that so far instructions for the first two months of the year increased by 9%.Hunters has also been on the acquisition path recently and in March bought the 15-branch Gloucestershire and Bristol agency Besley Hill, bringing its network to over 200 branches.“The company has shown impressive growth, opening 30 new branches including converting 20 existing businesses,” says Chairman Kevin Holinrake (pictured, left).“We continued to retain our 96% customer satisfaction rating and increasing revenue per branch by 7% against a market estimated to have been down 2% versus a year ago.”Hunters annual results Kevin Hollinrake Hunters April 18, 2017Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021 Home » News » Agencies & People » Hunters share price drops despite upbeat results previous nextAgencies & PeopleHunters share price drops despite upbeat resultsCity gives a baffling response to increased profits and turnover.Nigel Lewis18th April 201701,017 Viewslast_img read more


Letting International’s 25th anniversay bash!

May 7, 2021

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first_imgLetting International, a property and estate management company in East London, recently held its 25th Anniversary Gala Dinner at the Meridian Grand, London, celebrating by thanking 500 of their landlords and local authorities for their support.In a night of entertainment and laughter, guests included the England cricketer, Ravi Bopara, Ken Clark, Deputy Mayor of Newham Cllr, Cllr Unmesh Desai and Mayoral Advisors Cllr Mas Patel and Cllr Idris Ibrahim from the London Borough of Newham.The night, hosted by radio DJ and TV presenter, Tommy Sandhu, began with a drinks reception accompanied by the harpist, Holly Lowe and Sky Magic who performed jaw-dropping illusions, followed by silk aerialist duo Charlee Oakton and Giorgia Davies.Rizz Patel and Sam Chand thanked their landlords, families, friends, and their team for their support and loyalty that has lead to their success.The guests were shown a visual timeline of the growth of Letting International. From a small business started in 1992 by Directors, Rizz Patel and Sam Chand aged just 17 and 22. Sam Chand, Managing Director said, “Thank you to all our landlords for the continuous support over the years, it is amazing to be able to celebrate our 25th anniversary with them all today.”Rizz Patel, Managing Director, added, “The aim of the event was to enjoy an elegant night of fun and laughter, to show our gratitude to our devoted landlords, local authorities, the Lint Group team, and to all who have been part of our journey.”Letting International’s 25th anniversary Rizz Patel Sam Chand May 31, 2018The NegotiatorWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Home » News » Agencies & People » Letting International’s 25th anniversay bash! previous nextAgencies & PeopleLetting International’s 25th anniversay bash!The Negotiator31st May 201801,336 Viewslast_img read more


Experience History Register Now for Our Veteran Storytelling Night

May 3, 2021

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first_imgExperience History Register Now for Our Veteran Storytelling NightJoin us on February 23rd at the American Red Cross for the second in our series of Veteran Reflections. Speakers will include WWII veteran Doug who landed at Utah Beach on D-Day, John who served in Vietnam and was recently honored as one of the Great Living Cincinnatians, and Leslie Edwards–one of the few remaining Tuskegee Airmen from WWII. There will be 6 speakers in total representing World War II, Korea, Vietnam, and Operation Enduring Freedom. This is an evening of history that you will not want to miss!FacebookTwitterCopy LinkEmailSharelast_img read more


Folic acid fortification still provokes hot debate

April 21, 2021

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first_imgAdding folic acid to bread may be unnecessary and could expose people to potential risks, according to a study published in the BMC Public Health journal.However, nutrition experts have said bakers will have to “watch this space” concerning the outcome of a current review being carried out by the Scien-tific Advisory Committee on Nutrition (SACN).The findings of a study in Dublin, published earlier this month, reiterated previous research, suggesting that mandatory fortification may exacerbate the risk of colorectal cancer. Until now, health organisations have recommended that pregnant women take supplements to reduce the risk of foetal neural tube defects such as spina bifida.Anna Denny, nutrition scientist at the British Nutrition Foundation said that, despite there being clear public health benefit of folic acid fortification, the issue “has to be exercised with caution”.In May 2007 the Food Standards Agency (FSA) Board agreed unanimously that ’mandatory fortification’ with folic acid should be introduced. But in October 2007, the chief medical officer asked SACN to look at two further papers – which came out after the SACN’s initial recommendations and suggested that folic acid may increase the risk of colorectal cancer.”It’s very important that the result of these studies are reviewed thoroughly, as it could have huge implications for both the baking industry and for public health as a whole,” added Denny.”SACN is expected to advise the chief medical officer of its recommendation in the autumn on mandatory fortification with folic acid,” said an FSA spokesperson. The recommendation will then be considered by UK Health Ministers.In March this year, the Food Safety Authority in Ireland advised against the mandatory fortification of bread with folic acid and recent plans by the government in New Zealand to add it to bread were also scrapped. However, voluntary fortification has now been agreed.last_img read more


Born & Bread: Brace’s Bakery, Crumlin

April 20, 2021

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first_imgWales-based Brace’s bakery, now run by brothers Jonathan and Mark Brace, has become one of the leading wrapped bread suppliers in the country, and has an ambitious product roll-out planned.When miner George Brace opened a bakery in Pontllanfraith, Wales in 1902, he probably never envisaged that the family business would still be trading 116 years later as one of the UK’s largest bread brands.George set up Brace’s – which delivered door-to-door – with a loan from his brother, William, and enlisted the support of his family to operate it while he continued to work at the local pit.It was only following a mining disaster in 1905 that George devoted his time to developing the company and encouraged his five sons and two daughters to launch their own bakeries in the surrounding valleys.Only one – the Oakdale Bakery in Monmouthshire, opened in 1920 and operated by George’s eldest son, Ernest – would thrive in the years that followed.By the late 1930s, the business was supplying local shops and many pits in the area and, in 1946, Ernest’s son, Colin, joined the company that he would go on to run in 1974, following the death of his father.“After the demise of the Spillers baking operation in 1978, trade doubled overnight and a new 8,000sq ft factory was purchased in 1979 at Croespenmaen, one mile from Oakdale,” says Jonathan Brace, who now runs the family firm with his brother Mark. “That was our step into the sliced and wrapped bread market.”By 2000 the Oakdale plant had grown to 60,000sq ft and was producing bread rolls and Welsh cakes. Four years later, Brace’s opened a second automated bakery at Pen-y-fan, Crumlin, and bought a former Warburtons site in Rogerstone, Newport, in 2011.The efforts of Colin, who passed away this year, were recognised when he received an OBE in 2013 for services to the baking industry and community.Today, the business employs 250 people and produces loaves for the foodservice industry, as well as Brace’s branded bread for more than 3,000 stores in south Wales and the south west of England.Amid tough market conditions in the sliced bread sector, in February 2016, the Croespenmaen site closed temporarily as it was running at a loss, but reopened in early 2017 with the Rogerstone plant rented out to another baker.A mission to put the emphasis back on the Brace’s brand saw the brothers change the tin size, repackage the entire range and reintroduce favourites like fruit bread, says Jonathan. They also “looked carefully at changing market trends” and “invented a few of our own”. The business now plans to introduce at least 29 new products in the next six months.Timeline1902: George Brace’s established1920: His son Ernest opens a bakery in Oakdale1936: Ernest incorporates his father’s business into his own1946: Ernest’s eldest son Colin joins the business 1979: An 8,000sq ft site is purchased at Croespenmaen 1986: Colin’s sons Mark and Jonathan (pictured right) become directors2004: A site at Pen-y-fan is purchased2013: Colin Brace receives an OBE2018: Colin Brace passes awaylast_img read more


Making sense of the truth

March 1, 2021

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first_imgMark Richard has the look of a distinguished hipster, with spiky salt-and-pepper hair, edgy, green-framed spectacles, and an earring. Peeking over the top of his black leather boots are socks covered with little white martini glasses.On a bookcase in his office, nestled between portraits of renowned logicians and philosophers Gottlob Frege and Kurt Gödel, is a handwritten set list from the American post-punk band Mission of Burma.Aside from being a scholar on the philosophy of language, the New York native and Harvard professor of philosophy is an avid music fan. “I care a lot about music,” said Richard, fresh off a trip to see a movie about the band Magnetic Fields with his teenage daughter the previous evening.Fittingly, one of Richard’s favorite songs by the indie pop group captures his take on the complexity of his work.With a brooding voice, the band’s lead vocalist tells of a short-term relationship in the tune “Papa Was A Rodeo,” later revealing that the encounter evolved into a 55-year-long “romance of the century.” “As the song goes along you get this welling of emotion,” said Richard, “and then in the end it shifts perspective. … Brilliant.”According to Richard, offering people a different point of view is the fundamental message of philosophy.After a flirtation with physics at Hamilton College in New York, he switched to philosophy and went on to pursue a master’s and Ph.D. in the topic at the University of Massachusetts, Amherst. There, he realized the world was beginning to “digest” the research that had been done by a certain American linguist 20 years earlier.“That’s where all the action was,” he said, of the nexus of noted linguist Noam Chomsky’s work on syntax that others later had extended to the question of semantics, the scholar Saul Kripke’s work on the philosophy of language and metaphysics, and the university’s “exciting” linguistics department.“Through dumb luck, I was at a good place intellectually at a great time.”Richard joined Tufts University as an assistant professor of philosophy in 1984, becoming associate professor in 1990, and professor in 1999. He was named the Lenore Stern Professor in the Humanities and Social Sciences at Tufts in 2007. He joined Harvard this fall.His more recent work explores different models of meaning.“Meaning is what we use to represent the world to ourselves, how we are looking out on the world. But it’s also what connects you to the world, so now when you think about meaning, you are thinking about issues like truth represented in terms of what makes sentences accurate or inaccurate, true or false.”Assessing every sentence with a true or false determination may not be the right approach, he argued in his 2008 book “When Truth Gives Out.”In it, Richard offers examples of speech like racial slurs and epithets, vague language, and “cases where paradox looms,” and argues that such instances aren’t to be thought of in terms of truth and falsity. “If you think about these kinds of cases, it’s not clear that truth can play the central role that people think it’s required to play in explaining what meaning is.”His work on truth and meaning underlies his thoughts on the broader discipline. Philosophy is vital not because it offers solutions, Richard contends, but because it offers alternate ways of looking at some of the world’s most pressing questions.“To do philosophy is to appreciate that sometimes you have to step back and think about things in a different way.”When not at Harvard, Richard spends time with his wife, Nancy Bauer, a professor of philosophy at Tufts, and their four children — his two teenagers, and hers, from prior marriages. He likes to cook and hike when he can, and he checks out the local music scene every chance he gets.last_img read more


What Sets Challenger Sales Reps Apart?

February 27, 2021

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first_imgThe nature of sales has changed. B2B customers are now more informed than ever and they expect to be challenged constructively by sales reps. Welcome to the age of the ‘challenger sales rep’.What sets challenger sales reps apart? Well, they understand the diverse complexity that customers face and are able to discuss this at different levels. In other words: 1) they can talk strategy with functional buyers and 2) have solution-oriented conversations with IT decision-makers and experts.After all, the days of one product or one solution fitting the needs of your customer are long gone. A combination of solutions, at the least, is needed. And this requires the salesperson to be more ‘curious’. Salespeople have to be willing to venture into the unknown.Challenger sales reps are the ones who challenge their customers and come up with the type of solution customers hadn’t thought of yet. This also means being able to bring different parties around the table (for more on this, see Margaret Franco’s blog: ‘Stronger Together – Breaking C-Suite Barriers Through Digital Transformation’).As such, it’s often the challenger sales rep who can bring the pieces of the puzzle together. Sometimes, it may mean that they have to use an ‘IT-jigsaw’ to make the pieces fit their customer’s very specific puzzle.The challenger sales rep has to work smarterAs a salesperson, here’s the good news: being a challenger sales rep doesn’t mean you have to work harder. It means, above all, working smarter. And that means collaborating more: 1) with your customers as well as 2) with other internal teams. And the first and natural ally of sales internally is… marketing!Completing the end-to-end sales cycle (from enablement over lead gen qualification to completed purchase) can only happen in close collaboration with the marketing colleagues. One way we facilitate this internally at Dell EMC, is by developing a ‘challenger sales’ training program.Good to know:The line where marketing ends and sales begins has become fuzzy (flou en français, almost fou, which means crazy).Also the age-old split between farming and hunting is no longer a strict dichotomy.Challenger sales in practiceAt Dell EMC, our strategically aligned businesses each provide several pieces of the complex IT puzzle that companies face today.The sales challenge we see, as a diverse group, is understanding the IT-puzzle our customers are trying to make and providing the right pieces to make them successful.That starts with an open and honest dialogue on what is needed and what is possible.It means challenging our customers at different levels to create the biggest gains for them. And it means challenging ourselves from time to time to think beyond traditional boundaries and, instead, place the customer’s solution in the center. The right solution might no longer be found in just one place. It may require the combination of multiple solutions from different providers.For example, for one of Russia’s main banks, we were able to piece together a puzzle that comprised their customer loyalty and their corporate investment subsidiaries. By challenging them, we were able to set up a technological ecosystem for more effective data storage and analysis. This lead to significantly lower costs and greater flexibility and scalability compared to their earlier legacy set-up.And boy, it sure does feel great to see our customers overachieve because we were able to challenge them.I’m convinced that more and more industries are faced with heightened complexity. So where do you see the potential for a challenger sales approach in your organization?last_img read more