Manhattan office condo prices declined 32% in 2020

first_imgTagsCommercial Real Estateoffice market Email Address* Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Full Name* Message*center_img Rudder Property Group principal Michael Rudder with 375 Pearl Street. (Rudder, 375 Pearl) The pandemic did some major damage to Manhattan’s office condominium market.A comparison of sales during the pandemic to pre-Covid deals in the same buildings showed a 32 percent drop in price per square foot, from $909 to $616, according to an analysis by Rudder Property Group.Bargain hunters have begun to see opportunity and some are taking action, said Michael Rudder, the principal of the firm, a commercial real estate brokerage specializing in office condos in the metropolitan area.“We have signed more contracts and have more closings in the first quarter of 2021 than we did in all of 2020,” he said Wednesday. “So there will be an increase in sales, but pricing is still low.”Read moreThe Outlook: Industry experts break down Manhattan’s office condo marketFurnishing firm picks up 4 condos at 60 Guilders, Carlyle’s Midtown South projectManhattan office availability hits record-high 14.9% Only 13 sales were completed in the second half of 2020 and just 30 for the year — 10 fewer than the five-year average, according to Rudder’s market report.The second-half sales were of much larger units, on average. In total, 194,255 square feet of office condos were sold from July to December, about twice as much as in the first half of the year, but a third less than in the second half of 2019.The dollar volume in the second half was about $140 million, up 73 percent from the first half of the year but down 46 percent from the year-ago period.Notable sales during the second half of 2020 included Rafael Viñoly Architects’ $35.8 million purchase of 36,550 square feet at 375 Pearl Street from Sabey Corporation, and American Guild of Musical Artists’ $7.5 million purchase of 9,476 square feet at 305 Seventh Avenue from Sheltering Arms Children and Family Services.Contact Akiko Matsuda Share via Shortlinklast_img read more

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Some aspects of feeding in the Antarctic krill, Euphausia superba

first_imgThe interaction between feeding activity, swarming behaviour and vertical migration in Antarctic krill, Euphausia superba Dana, was examined by a combination of laboratory physiology studies and intensive field sampling of a patch of krill located NE of South Georgia, in April 1980. The combined use of echolocation and a series of timed net hauls from discrete depth horizons revealed a diurnal rhythm of swarming behaviour, vertical migration and gut fullness. Laboratory physiological data showed that krill will filter feed throughout the 24 h but with peak activity by night, and that filtration rate is affected by krill density. Biochemical studies in vitro indicated that rates of lipid synthesis are generally highest at the surface and by night. These results are discussed in relation to other studies of krill feeding activity and suggestions made for further research.last_img read more

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Deputy Commander of Allied JFC NAPLES Visits MARCOM

first_img View post tag: Naval Authorities Deputy Commander of Allied JFC NAPLES Visits MARCOM January 22, 2015 View post tag: Navy View post tag: Commander View post tag: MARCOM Share this article View post tag: News by topic View post tag: Deputy Back to overview,Home naval-today Deputy Commander of Allied JFC NAPLES Visits MARCOM View post tag: Naples The Deputy Commander of Allied Joint Force Command Naples (JFC NAPLES), Lieutenant-General Michael Day, OMM, MSC, CD, visited NATO Allied Maritime Command (MARCOM), meeting with the MARCOM Command Group to discuss coordination of operational activities and areas of common interest.Lieutenant-General Day was briefed on MARCOM current operations, with emphasis on JFC Naples’ area of operations. The official party had the opportunity to visit MARCOM’s Operations Center and the NATO Shipping Centre (NCS), observing their operations.With MARCOM’s full operational capability (FOC) certification exercise TRIDENT JEWEL 15 less than two months away, the MARCOM Command Group was particularly interested in Lieutenant General Day’s insights and lessons derived from JFC Naples’ FOC Exercise TRIDENT JUNCTURE14, which took place in November.Vice Admiral Paulmier, MARCOM Deputy Commander, said:The visit of Lieutenant General Day was particularly timely and a good opportunity to both introduce our headquarters and objectives, and align our views with the studies in progress within the Alliance.[mappress mapid=”14940″]Press release, Image: MARCOM View post tag: europe View post tag: Allied View post tag: visits View post tag: JFClast_img read more

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IS IT TRUE SEPTEMBER 29, 2016

first_imgIS IT TRUE Dan McGinn declared that “the city financial deficit is much bigger, and expenses are much higher than we thought”?  …we wonder why City Controller Russ Lloyd Jr wasn’t honest and forthcoming with the information that the City has major deficit issues for 2016?  …if a Controller of a major Corporation withheld this kind of information from his bosses he would have been fired?IS IT TRUE that Finance Chairman Dan McGinn recently stated, “So no one should be surprised. No one can call me a liar or a cheat or that I’m not transparent concerning 2017 budget issues to be discussed during Council meeting?  …we take Mr. McGinn’s word on this?  …its obvious that officials in the Winnecke Administration and a couple of Council members haven’t been transparent with the public about having advance knowledge of budget shortfalls for 2016?IS IT TRUE that District 1 County Commissioner candidate Sean Selby should be humbled that fellow conservative and former U.S. Congressman John Hostettler decided to come out into the political limelight to publicly endorse and work for his election to the Vanderburgh County Commission?FOOTNOTE:  Todays READERS POLL question is: Should City Controller Russ Lloyd Jr tell the public who is the consultant and what he is being paid to administer the Employees Health Care program?Please take time and read our newest feature articles entitled “BIRTHDAYS, HOT JOBS” and “LOCAL SPORTS” posted in our sections.If you would like to advertise in the CCO please contact us City-County [email protected] Observer has been serving our community for 15 years.Copyright 2015 City-County Observer. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. IT IS TRUE that the City-County Observer strongly supports the men and women of the Evansville Police and Fire Departments.  IT IS ALSO TRUE that they are doing an outstanding job of protecting the citizens of this community and we feel the city should provide them with a quality but affordable Health Care package!IS IT TRUE that City of Evansville Employee Health Care program is self-insured?  …Has the city hired a consultant to help administer this program?  …no one on City Council or in the Winnecke Administration knows who the consultant is but also how much he is being paid?IS IT TRUE that a few City of Evansville officials were warned by former Councilman and Finance Chairman John Friend CPA to be prepared to see many more million of dollars of overage in the 2016 City Employees Hospitalization Fund budget? …that Mayor Winnecke, City Controller Russ Lloyd Jr., Missy Mosby, Jonathan Weaver, Dan McGinn, Dr. Dan Adams, and Connie Robinson were all warned by former Councilman John Friend CPA that this financial shortfall monster was at their doorstep?IS IT TRUE if our elected officials make any more cuts to the Fire and Police Departments budgets we may have to depend on the “Penguin” to help protect us?IS IT TRUE that we have a financial crisis in the City of Evansville?  …as of June 30, 2016, the Hospitalization Fund was NEGATIVE for $7.5 million dollars?  … employees will use the Health Care system more during the later part of the year because of their deductibles being met?IS IT TRUE that one year ago City Councilman Dan McGinn stated that Council Finance Chairman John Friend, CPA  actions were just political when he recommend much-needed budget cuts?  …we wonder what Mr. Friend would say about Council Finance Chairman Dan McGinn’s attempt to cut the 2017 City budget?IS IT TRUE that in December of 2015 (without the approval of City Council) Mayor Winnecke quietly transferred $12.5 million from the Riverboat Fund revenue into the City of Evansville General Fund?IS IT TRUEif $12.5 million of Riverboat funds had not been transferred into the City of Evansville General Fund, the General Fund balance as of June 30, 2016 would have been OVER DRAFTED by $8.6 million?IS IT TRUEif City Controller Russ Lloyd Jr didn’t transfer $5 million dollars from the General Fund into the Hospitalization Fund during the second quarter of 2016 the Hospitalization Fund would be an additional $5 million dollars in the red?IS IT TRUE that former Councilman John Friend, CPA has publicly stated that the Winnecke Administration were over spending about $1 million dollars per month?  …we really hope that Mr. Friend is totally wrong about this issue? FacebookTwitterCopy LinkEmailSharecenter_img by Taboola last_img read more

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U.S. Attorney: Manco & Manco Owners ‘Cordial’ in Making Incriminating Statements

first_imgChuck Bangle talks to prospective employees at an Ocean City High School job fair in February 2015. Bangle awaits trial on tax evasion charges related to his business, Manco & Manco pizza.In a pretrial response filed Friday, U.S. Attorney Paul J. Fishman argued that the owners of Manco & Manco Pizza in Ocean City were “cordial” as they welcomed Internal Revenue Service agents into their home during a surprise 2012 interrogation.Charles and Mary Bangle, owners of three Ocean City Boardwalk pizza shops and one in Somers Point that earn a combined $4.5 million annually, are awaiting trial on a 30-count indictment alleging they failed to report $981,000 in income to the IRS between 2007 and 2011 and dodged paying $336,273 in federal taxes.Attorneys for the Bangles are asking a federal judge to exclude statements made by the defendants because they were “coerced” and never informed of their Miranda rights during the May 20, 2012 interview in their Somers Point home. They filed an April 17 motion asking Judge Robert B. Kugler to dismiss a large part of the indictment against them.But the U.S. attorney argued in his May 8 response that the Bangles invited two special agents into their living room after the agents arrived unannounced at their doorstep at 8 a.m. on that May 2012 morning. Charles Bangle offered them coffee and joked that his heritage required him to be hospitable, according to the memorandum of opposition filed by Fishman.When confronted with documents that contradicted statements he made earlier, Charles Bangle “apologized for lying to the agents,” saying he was relieved about getting caught and that he would tell the agents “everything,” according to memo. He stopped only when Mary Bangle began screaming “and commanded that Charles Bangle stop talking” and suggested they speak to a lawyer, the document states.The U.S. attorney says the agents left at that point, but not before Charles Bangle offered cell phone numbers for him and his wife.“The Bangles allege that their statements were involuntary because the agents stood at their front door, ‘prominently’ displayed their firearms, and asked aggressive questions,” Fishman writes. “That is simply not enough.”After questioning the Bangles on the morning of May 20, 2012, the agents had left the home, only to return five minutes later to confront them about their prior statements about unreported cash deposits, according to the pre-trial motion filed by Vincent P. Sarubbi (representing Charles Bangle) and Rocco S. Cipparone Jr. (representing Mary Bangle).“During the course of the Second Interview, the Agents prominently displayed their side arms,” they write. “The Agents were interrogating the Moving Defendants and using their weapons and Agent Maguire’s position blocking the front door to physically and mentally intimidate and coerce the Moving Defendants. The Agents never informed the Moving Defendants that the purpose of the interview was a criminal investigation until after the end of the second interview. At no time did the Agents inform the Moving Defendants that they had a right to an attorney.”The lawyers argue that the Bangles’ Miranda and Fifth Amendment rights were denied.They also suggest that the IRS made no effort to distinguish which statements were made by Charles Bangle and which by Mary Bangle. Instead, the evidence statements were presented as an amalgamation of what “The Bangles” said. As such, preparation of a defense is impossible, the lawyers wrote.“The Government expects to show that both Charles and Mary Bangle responded to the Agents’ questions, at times nodding in agreement when the other was speaking and interrupting one another to provide additional information, and each failed to contest any incriminating statements,” Fishman wrote in his response.The U.S. attorney’s response goes on to ask the judge to deny each of the defendants’ pretrial motions and to preserve the full 30-count indictment.Kugler will issue a ruling on the pretrial motions before a trial date is set.The indictment against the Bangles includes five counts of income tax evasion for 2007 through 2011, one count alleging a conspiracy to avoid paying taxes, and one count of making false statements to the IRS. Charles Bangle is also charged with 23 counts of structuring financial transactions to avoid reporting requirements.“Between 2007 and 2011, Charles and Mary Bangle skimmed large sums of cash from the business,” according to a 2014 news release from the U.S. Attorney’s Office. “Charles Bangle deposited significant amounts of that cash into their personal bank account at TD Bank in amounts less than $10,000, the amount which triggers a Currency Transaction Report from financial institutions to the U.S. Department of Treasury.”Manco & Manco has three locations on the Ocean City Boardwalk and another on the mainland in Somers Point. For most of the iconic chain’s 58-year history in Ocean City, visitors knew the spot as Mack & Manco. Anthony Mack and Vincent Manco founded the chain in 1956. The partnership between the two families ended and the name changed in 2011. Chuck Bangle, the son-in-law of former co-owners Frank and Kay Manco, purchased a controlling interest at that time.Exhibits filed with the Bangles’ pretrial motions include extensive detail on the government’s case. The documents include interviews with accountants, bank officials, shop employees and the defendants.The government interviews paint a picture of a wildly successful cash business — when cash registers fill up, bills are dropped into a slot that goes into brown paper bags in a locked cabinet below the counter. Bags of cash are dropped sometimes two or three times a day at the home of Kay Manco, according to the government’s investigation.The Macks at one point accused the Mancos of stealing from the business, according to an interview with the Bangles’ former accountant, and Bangle suspected the Macks may have provided information to start the investigation.Bank employees questioned Bangle about his pattern of deposits and reminded him of cash transaction reporting requirements, according to the documents. An auditor reportedly witnessed an employee ringing up “no sale” after a customer paid for a pizza, the documents allege.Each of the 30 counts of the indictment carries a maximum potential penalty of five years in prison and a $250,000 fine.Read the full text of the Bangle indictment.__________Sign up for OCNJ Daily’s free newsletter and breaking news alerts“Like” us on Facebooklast_img read more

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Cavendish Road repaired, Vermont Route 131 now open in its entirety

first_imgThe Vermont Agency of Transportation (VTrans) today opened Route 131 through Cavendish, which had been closed since Tropical Storm Irene struck more than two months ago. Irene severely damaged several miles of Route 131 between Weathersfield and Cavendish, and completely obliterated about 250 feet of the roadway just east of Cavendish Village. Dubbed the ‘Cavendish Canyon’ because floodwaters created a creator 54 feet high and almost a football field long, the roadway had to be completely rebuilt from the edge of the river up. ‘Rebuilding Route 131 through Cavendish clearly was one of our most significant challenges,’ said VTrans Secretary Brian Searles. ‘Raging floodwater did not just damage the road, it basically eliminated it. But with significant help from the National Guard, a couple of our neighboring state transportation departments and others, we rebuilt the road in just two short months, which is quite remarkable.’ At its apex, the work crew along Route 131 in Cavendish numbered nearly 150 men and women along with more than 50 pieces of heavy equipment including dump trucks, bulldozers, backhoes, road graders and other earth-moving vehicles. Dozens of National Guard troops from both Vermont and Ohio were involved, as well as highway crews from VTrans, the New Hampshire Department of Transportation, the Main Department of Transportation and private contractor DeLoury Construction. Some 70,000 cubic yards of stone and fill were trucked in and put into place to restore the roadway just at the canyon, while thousands more cubic yards were needed to repair various other washouts along the rest of the road. ‘It literally took an army of people and machines working sunup to sundown for more than two months to rebuild Route 131 as well as the rest Vermont’s damaged road network,’ Searles said. ‘This is a tremendous achievement. Our Vtrans team has, once again, accomplished what no one thought was possible. By opening the Cavendish Canyon today, we have advanced from over 500 miles of road and 200 bridges damaged by Irene in August, to just 2 closed bridges under construction in Roxbury, and three remaining road projects,’ he said. The final roads to be completed include route 106 in Weathersfield, Route 107 in Stockbridge and Route 73.’ For up-to-date information on storm-related openings and closings, people can call VTrans recovery call center at 1-800-VERMONT or go to the agency’s homepage at www.aot.state.vt.us(link is external) where they can sign up for alerts pushed to their mobile phone. You can also follow VTrans’ recovery efforts on both Facebook and Twitter. Source: VTrans. 11.4.2011last_img read more

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Is your credit union website providing the same user experience for all?

first_imgYour branch locations are outfitted in many ways to accommodate any credit union members that are living with a disability, so that they can perform their banking needs with ease.  But with over 50% of Americans using online or mobile banking services, are you doing enough to ensure that these same members can easily and safely complete a simple banking transaction on your website or app?This is an issue that has recently captured our team’s attention and we’re in the early steps of learning about what can be done to make our website more accessible for members of our community that are living with disability. We’d like to share what we’re learning with other credit unions.The Problem of Website AccessibilityCurrently there are over 57 million Americans living with a disability.  That includes:2 million Americans with a visual disability9 Americans with a hearing disability9 million Americans with a cognitive mental disability8 million Americans with a ambulatory disabilityOver one million of these Americans report that their disability makes it difficult for them to navigate the Internet. This is where website accessibility comes into play, and this is a phrase that you need to become familiar with. Website accessibility means designing and developing a website that provides every user with the same experience, whether an individual uses a screen reader to understand the content on your website, a user needs to navigate the web without the use of a mouse, or someone relies on closed captioning or transcripts of videos.Regulations Addressing AccessibilitySection 508 was added to the Rehabilitation Act of 1973 within the last twenty years to outline how Federal agencies need to make electronic technology accessible to individuals living with disabilities. Sites that are required to meet accessibility standards under Section 508 are websites for any agency of the U.S. government or state government using Assistive Technology funding, websites for any organization receiving Federal financial assistance, or websites used in formal education settings.Currently, addressing the accessibility of your credit union website would be an exercise in inclusion. It’s anticipated, however, that by 2018, the Department of Justice will expand these accessibility requirements to include all websites for public consumption.  That 2018 deadline doesn’t necessarily mean you should delay. Many high profile companies, including Home Depot, J.C. Penney, the NBA, and Sprint have had lawsuits filed against them for violating users’ rights under the Americans with Disabilities Act.Guidelines for AccessibilityUndergoing a complete website overhaul to address issues with user accessibility can seem overwhelming at first. If your current website was built by a team of quality web developers, several of the required elements may be present already, as a matter of best practices. But, where can you learn more about the comprehensive list of accessibility requirements?The Web Content Accessibility Guidelines (WCAG 2.0) are a standards guide created by the Website Accessibility Initiative at W3C.  A team of experts from disability organizations and government agencies worked with web developers to develop the guidelines that address usability for individuals with auditory, cognitive, neurological, physical, speech, and visual disabilities.The Website Accessibility Initiative website is a great resource for understanding the the challenges with website accessibility and process of improving your site to create an equal user experience.Has your credit union website undergone an accessibility update?  Share your experience with us! 32SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Matt Steffy Matt is the IT & Security Office at Lancaster Red Rose Credit Union. He is a malware analyst and reverse engineering enthusiast who also enjoys attending music festivals and concerts … Web: https://www.lrrcu.org Detailslast_img read more

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It’s time to talk about the elephant in the room

first_imgIt’s no secret credit unions need to continually grow and attract new members, yet for a host of reasons, many still aren’t offering a mobile app. It’s a mobile world now. A good, fully-functional app is the smartest strategy to expand your membership and thrive in the next few years, decades, and beyond.  The catch is, today’s members aren’t typically the kind to stroll into the branch for information. Thus elephant fliesMore and more people are beginning to live their lives on mobile devices. It’s not just a guess.  A recent Nielsen study showed that, across all genders and ethnic backgrounds, 96% of the top mobile users range from age 18 – 44. The majority are under 30. Those could be the lifeblood of your credit union over the next few decades. Another study pointed out some of these same consumers are using their phones more than they are interacting with other human beings. They want easily accessible information and answers, and they do not want to have to talk to someone to get it. That means for your credit union to reach them, you need to be accessible on their phone. Not “by phone” . . . in it!    An elephant never forgetsUnfortunately, the truth is, if potential members don’t see an app, they’ll likely just keep on scrolling. Forget quick balance checks and money transfers. Today’s members want the transactions they do most on their phone or tablet.Remote Deposit – a simple click of a camera phone to deposit checks.ATM Locator – so they don’t have to call or drive around aimlessly looking for cash Mobile Loan Request –enable them to start the loan process from anyplace at any time, such as standing at the car dealership.The good news is, once a member sees they can perform the transactions they use most on your app, they’re more likely to think of your credit union first when life changes and new needs arise.  You can practically offer a good app for peanutsThere is a number of affordable customizable mobile platform available now that will work hand-in-hand with you to create the customized solution your credit union needs.“Justifying the cost of a mobile app has been the real challenge to this point,” said Lindsay Risiner, CEO/Manager of Louisiana’s Barton FCU, who recently worked with CU Mobile Apps to create her mobile app with their affordable CUMA Light platform. “But the functionality we’re enjoying is beyond anything we had expected to find within our budget. The start-up investment is a virtual steal.”Anything unrelated to elephants is irrelephant!With the right, affordable mobile platform, you show you’re providing the products and services your current members want, and those potential, tech-savvy members, especially Millennials, demand. Make the investment today to ensure your credit union’s success and growth. 38SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Paul Matejcak Paul Matejcak is the Executive Account Manager of Mobile Products for LSC in Naperville, IL. He has been with the Illinois Credit Union System for three years. Before coming to … Web: lsc.net Detailslast_img read more

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Super Saturday pulls in record-breaking $34.4b in retail sales

first_imgExceeding forecasts, Dec. 21, the last Saturday shopping day before Christmas 2019, has been confirmed as the single biggest retail sales day in U.S. History.According to retail research firm Customer Growth Partners, consumers on Super Saturday spent a total of $34.4 billion and that exceeded 2019 Black Friday sales by 10 percent.  “Paced by the ‘Big Four’ mega-retailers — Walmart, Amazon, Costco and Target — Super Saturday was boosted by the best traffic our team has seen in years,” Craig Johnson, president of the retail research firm toldBloomberg Monday (Dec. 23)Johnson cited stronger personal finances, high employment and robust income as drivers of the sales records. More customers are shopping online, as well, as retailers offer improved web platforms. (58 percent of sales growth from 2018 occurred online.This holiday shopping season saw its next biggest shopping days as Dec. 14, with $28.1 billion; and Cyber Monday, with $19.1 billion. 61SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading »last_img read more

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Connect with your market

first_img This post is currently collecting data… ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr This is placeholder text continue reading »center_img For many banks and credit unions, the most important question they have when deciding to open a new branch is “Where?”Every market is unique, and choosing the right location alongside developing tailored experiences can help your financial institution resonate with local communities and draw in your target demographics. Understanding your market and where growth opportunities lie, both today and in the future, is critical to achieving your goals.America is undergoing a rapid demographic shift due to industry disruptions and job opportunities concentrating in urban areas. If you can predict where the market will be, you can position yourself to achieve higher levels of growth. Yet developing an understanding of your market is becoming more complex and requires a data-driven approach with predictive analytics.Using predictive analytics is different from traditional approaches to branch location strategy because instead of assuming that historical trends will continue, it relies on insights from complex machine learning models to balance a vast number of attributes and data points to forecast how a market will change going forward. We partner with Precisely to deliver these cutting edge insights.last_img read more

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