SL Green sees “explosive recovery” for NYC as tenants plan office return

first_imgSL Green CEO Marc Holliday (Getty)With some signs pointing to a large-scale return to offices as soon as the third quarter of this year, New York City’s biggest office landlord is optimistic about the road to recovery.On SL Green’s first quarter earnings call on Thursday afternoon, CEO Marc Holliday pointed to a confluence of factors that all bode well for the city’s economic outlook, such as low interest rates, a massive federal stimulus, a surging financial sector, upward-swinging hiring trends and a gradual lifting of Covid-era restrictions.“That’s a recipe for what could be a truly explosive recovery for New York City, and SL Green is well-positioned to meet the growing tenant demand and develop the future of New York City,” Holliday said.In one sign of rebounding demand for office space, the real estate investment trust signed 178,000 square feet in office leases in the first three weeks of April, on top of the 353,000 square feet signed in the past quarter, up from 316,154 square feet in the first quarter of 2020.ADVERTISEMENTAt the recently opened One Vanderbilt, Holliday said the firm is now on track to reach 90 percent occupancy by year end, exceeding its previously stated goal of 85 percent. The 58-story office tower was 70 percent occupied at the end of last year.Overall, SL Green reported funds from operations of $128.3 million or $1.73 per share in the last quarter, down 17 percent from $2.08 per share in the first quarter of 2020. Office rent collection held steady at 98 percent, while retail rent collection ticked up slightly to 85 percent.Read moreMoinian deal with SL Green values Sky apartments at $850M Goldman Sachs, Wells Fargo leading massive refi of One Vanderbilt SL Green sees improved “market vibe,” office return in “a blink of an eye” Commercial Real EstateManhattan Office MarketSL Green Realty Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Full Name* Tags Share via Shortlink Message* While office rents in Manhattan as a whole have taken a beating during the pandemic, SL Green noted that rents at higher-quality properties, such as theirs, have held strong.“Owners that haven’t invested in their buildings and haven’t been forward thinking, they’re the ones that are going to suffer,” executive vice president and director of leasing Steven Durels said.Beyond face rent, meanwhile, rent concessions have gone up across the board.“They’re brutal right now. They’re at a historic high, as far as the amount of concessions go,” Durels said, adding that concessions had stabilized in the past 90 days. “I think we’ve seen the worst of the rent erosion, and at this point we’re bumping along the bottom and waiting for it to turn back up.”The average term of leases signed in the first quarter was 5.8 years, with 6.9 months of free rent and a tenant improvement allowance of $61.90 per square foot.The company has continued to dispose of non-core properties, with a target of $1 billion in dispositions for the year. SL Green announced two such deals yesterday, selling 400 East 57th Street to A&E Real Estate at a gross valuation of $133.5 million as well as its 20-percent stake in 605 West 42nd Street to the Moinian Group for about $53 million.The firm is also lining up a big refinancing for One Vanderbilt, although “the final structure and proceeds of the loan are not set,” SL Green president Andrew Mathias said. The deal is expected to be finalized in the next 45 days.SL Green executives also fielded questions about the political environment, taxes and the crowded mayoral race. Holliday argued that “homelessness and vagrancy and quality of life issues” should be the number one issue for an incoming mayor, and that the police have a key role to play.“I think the NYPD is still considered the best security force in the country, for any municipality, and I think that they’ve gone through a lot of changes, and reformation, and we have to get back to a point where there’s a balance between keeping everyone safe and secure, and also making sure that people aren’t unduly infringed on the other side,” he said. “Hopefully the next mayor will have a solution for working with the police force to make that happen.”Contact Kevin Sun Email Address*last_img read more

Modelling gene networks at different organisational levels

first_imgApproaches to modelling gene regulation networks can be categorized, according to increasing detail, as network parts lists, network topology models, network control logic models, or dynamic models. We discuss the current state of the art for each of these approaches. There is a gap between the parts list and topology models on one hand, and control logic and dynamic models on the other hand. The first two classes of models have reached a genome-wide scale, while for the other model classes high throughput technologies are yet to make a major impact.last_img

First digital mortgage signed by borrower

first_imgCoventry Building Society and Enact Conveyancing have lodged the first digitally signed mortgage, into the Land Register, for a house in Rotherhithe, London.Part of the ‘Sign your mortgage deed’ service, HM Land Registry is building for a future without the need for a witness to watch as the homeowner applies an ink signature to a paper mortgage deed, saving time and providing a more secure service to homeowners, lenders and conveyancers.The registration forms part of HM Land Registry’s plans to transform the conveyancing market through quicker and simpler digital services and improved use of technology, making transactions instantaneous where possible and simplifying the homebuying process.The registration of the deed follows months of collaboration and testing with Coventry Building Society and Enact Conveyancing and uses GOV.UK Verify to enable borrowers to securely verify their identity before digitally signing their mortgage deed online.HM Land Registry Chief Executive and Chief Land Registrar Graham Farrant said: “By working with partners in the industry, we have secured a simpler and faster service for the benefit of home owners.“We are looking forward to rolling this out nationally and will be working with more conveyancers and lenders to do so.”www.enact.co.uk proptech mortgages ‘Sign your mortgage deed’ service digital mortgage digitally signed mortgages May 9, 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 » First digital mortgage signed by borrower previous nextProptechFirst digital mortgage signed by borrowerThe Negotiator9th May 20180576 Viewslast_img read more

Co-Founders of Heliponix, LLC, Ivan Ball And Scott Massey Are Being Considered For Forbes…

first_imgScott Massey and Ivan Ball the Co-Founded Heliponix. They provide consumers with the GroPod, an automated hydroponic appliance with a seed pod subscription that could be described as “Keurig for food”.Their automated hardware combined with smart, cloud software allows anyone to become a farmer regardless of their climate, space, or existing knowledge of agriculture. They sold out of beta prototypes last year to residential consumers, a restaurant owner, and local schools; they are now ramping up production with a midwest contract manufacturer. They founded Heliponix after assisting Dr. Cary Mitchell as research engineers for NASA through Purdue University on a hydroponic growth chamber.They wanted to commercialize our own rotary aeroponic™ intellectual property for consumers after identifying opportunities to maximize yields while reducing energy consumption which has been validated by multiple strategic investments from the Purdue Research Foundation and Elevates Ventures. Follow them on Facebook as they continue growing to become the world’s largest farming company without owning a single acre of land!FacebookTwitterCopy LinkEmailSharelast_img read more

Hoboken Comedy Festival seeks new talent

first_imgHOBOKEN — From Sept. 24 through Sept. 30 The Hoboken Comedy Festival will take place at various venues through out the city.The creators of the festival are asking for comedians to submit a six-minute video online at www.HobokenComedyFestival.org before Sept. 1 to be considered for the New Talent portion of this year’s festival.This year, 24 New Talent Performers will be given the opportunity to perform.On each weekday show, one of them will win another performance on one of the weekend shows, judged by a panel of industry bookers and professionals. The four selected to perform again will then have an opportunity to perform on Sunday and be considered the overall funniest New Talent Performer of the festival.Along with the New Talent slots in the festival there are 11 headliner performances.Comedy alums from the festival include Amy Schumer, Artie Lange, Pete Davidson, Jermaine Fowler, Nate Bargatze, Carlos Mencia, Mark Normand, Judah Friedlander, Todd Barry, and more.This year marks the ninth annual festival. It also supports animal welfare through its partnership with the Liberty Humane Society. Each show will donate $1 per head to the society.For more information about submitting a video, performing, getting involved, or attending, see www.HobokenComedyFestival.org. ×last_img read more

Defra reveals no-deal food labelling changes

first_imgThe government has laid out rules for what food and drink businesses must show on product labels if the UK leaves the EU without a deal on 29 March 2019.In the updated guidance published this week (5 February), the Department for Environment, Food & Rural Affairs (Defra) outlined changes to the use of country-of-origin labels, the EU organic logo and the EU emblem (see full details below).Some of the new rules will be effective from exit day, while others will have a longer period with which businesses are to be compliant. However, it emphasised that “wherever a transition period is not possible, Defra will encourage a pragmatic enforcement within the UK”.The proposals are subject to agreement with devolved administrations and parliamentary process.“The UK government is aiming, wherever possible, to allow a transition period for labelling changes in relation to goods produced or imported and placed on the UK market after exit day,” it stated.As of 29 March 2019, the following changes must be adhered to by businesses which have food products placed on the UK or EU market after that date.Country-of-origin labels: It will be inaccurate to label UK food as origin ‘EU’. For the UK market, you should display additional information online and on signage in shops to help clarify the origin of the food. For the EU market, UK food should not be labelled as origin ‘EU’.EU organic logo: You must not use the EU organic logo on any UK organic products, unless the UK and EU reach an equivalency arrangement – where both still recognise each other’s standards – before exit day.EU emblem: You must not use the EU emblem on goods produced in the UK unless you have been authorised by the EU to do so.In addition, companies that produce a food or drink product that qualifies for the Geographical Indication (GI) logo must ensure they use the relevant UK logo (which has yet to be released) on any products for sale in the UK by March 2022.last_img read more

George Clinton Joins Red Hot Chili Peppers In Australia [Video]

first_imgRed Hot Chili Peppers are currently touring Australia with George Clinton & Parliament Funkadelic. On Friday night in Sydney, Clinton joined the headliners on stage for a charged up version of “Give It Away”, trading vocals with frontman Anthony Kiedis. Earlier in the night, the band teased “Red Hot Mama” by Funkadelic during the introduction of their own “Go Robot”.Related: Red Hot Chili Peppers Announce Egypt Show At The Great Pyramids Of GizaThe Parliament/Funkadelic frontman, who turns 78 in July, recently announced his final outing, the “One Nation Under A Groove” tour, which will feature a variety of artist lineups to celebrate George Clinton’s final dates at the helm of the Mothership. Capping over 50 years of touring and recording, George Clinton & P-Funk will be joined by Galactic, Dumpstaphunk, Fishbone, and Miss Velvet and the Blue Wolf, all of whom are taking time out of their own busy touring schedules to hit the road with the Grammy-winning, formerly-rainbow-dreaded funk, hip-hop, and rock & roll pioneer.The Chili Peppers first collaborated with George Clinton over three decades ago, when the funk hero produced the band’s early funk album, 1985’s Freaky Styley. They’ve collaborated since, notably at the band’s induction into the Rock and Roll Hall of Fame, but have never toured together. With a few dates left together before Clinton retires, there’s certainly potential for more collaborations.Red Hot Chili Peppers – “Give It Away” feat. George Clinton[Video: RHCPtv1] Setlist: Red Hot Chili Peppers | Qudos Bank Arena | Sydney, Australia | 2/20/19Intro Jam, Around The World, Otherside, Dani California, Dark Necessities, Strip My Mind, I Wanna Be Your Dog (The Stooges), Right On Time, Aeroplane, Californication, Go Robot, Don’t Forget Me, Sick Love, Suck My Kiss, Soul to Squeeze, By the WayE: Just Like U Said It Would B (Sinéad O’Connor cover, Josh solo, live debut), Give It Away**w/ George Clintonlast_img read more

Mau Mau at peace

first_imgNJURUTA, Kenya — In July, a landmark legal decision in London allowed aging Mau Mau veterans of Kenya’s independence movement to proceed with a class-action suit over colonial-era practices. The allegations, all from the 1950s, include murder, rape, sodomy, and deliberate starvation. Veterans are asking to be compensated for what they call war crimes.The Mau Mau, who called themselves the “Kenya Land and Freedom Army,” fought the British from 1952 to 1960, during what was known as the Kenya Emergency. Colonial authorities called the Mau Mau a savage cult. Kenya itself, a newly sovereign nation by 1963, was equally dismissive, and banned Mau Mau associations until 2003.The Mau Mau case got as far as it did in part because of Caroline Elkins, a Harvard history professor whose years of scholarship and accumulated oral histories documented colonial treatment of the Mau Mau. Her book “Imperial Reckoning: The Untold Story of Britain’s Gulag in Kenya” won a Pulitzer Prize in 2006.Today, there are an estimated 75,000 Mau Mau still alive: scouts, fighters, and sympathizers who are commonly 80 or older.A few of those Mau Mau veterans live in Njuruta, a scorching outpost of poor herders and farmers near the city of Meru, where much of the fighting took place. Meru is lush, cool, and rainy. But barren Njuruta sits on the edge of a parched region that last saw rain three years ago.When his visitors arrived, M’Ringera “Simon” M’Ndiiria, 91, was tending goats on a bare hillside overlooking his compound. The main house is made of rough planks and has a steel roof. Inside are a sofa, a small bed, a jug for water, and a wheelbarrow. Most Mau Mau veterans are poor, said M’Ringera, because their ancestral lands were confiscated during the fighting.Nearly 60 years ago, M’Ringera was a candy maker living in Nairobi. By night, he was a Mau Mau treasurer. He collected 5 Kenyan shillings a month from sympathizers and stuffed his mattress with paper currency.  (Coins were too loud.) To keep records from the British, M’Ringera memorized who had paid and who had not. The money bought rifles and food.He was arrested in 1953 and imprisoned for seven years. His detention included time at notorious Manyani prison in the desert near Mombasa. He and other prisoners were beaten during the day and chained together at night. M’Ringera raised one pant leg to show a band of crisscrossing, silvery scars.Joining visitors under M’Ringera’s shade tree was M’Mbwi “Samson” M’Thiribi, who only knows he was born “before 1922.” (Neighbors say he is 99.) He had walked a few kilometers to tell his story, wearing a short-brimmed pink hat and a gray suit jacket. In the early 1950s, M’Mbwi was an assistant village chief in Meru and a favorite of local British authorities. He used this trust as protective cover, organizing a team of scouts who supplied fighters in the forest.He was arrested in 1953 and sentenced to five years. For two of those years he was in the infamous Mwea detention camp, “where most of us were taken so we would die,” said M’Mbwi. When he was released, he said, everything was gone: his ancestral land, his food stores, his three cows, and two goats. His house had been burned to the ground.Under the same shade tree was M’Marete “David” M’Miiru, an 81-year-old farmer. He was a Nairobi tailor who in 1953 slipped into the jungle near his native Meru and joined the Mau Mau fighters. They kept beehives in the forest, he said, and ate fish from the rivers. They never bathed or changed their clothes or cut their hair or beards. Soon, said M’Marete, “even the wild animals would not attack us.”To fight, he said, they used spears, arrows, machetelike pangas, and homemade .303-caliber rifles made from bicycle parts and gate latches. Their tactics were simple. “We used to fire one bullet” to kill a sentry, said M’Marete, and then attack with knives.After he spent three years in prison, he said, everything was gone — his family houses burned, his livestock stolen, and his granaries looted. He said the British had shot and killed his brother. But in the end, he wanted nothing but peace. Under the shade tree, the other old men agreed.After independence, M’Ringera raised bees and made a living by installing barbed wire fencing. He forgave the British and the Kenyan askari, the colonial police who collaborated with them. “He used to feel bad,” said his son Festus Bundi, an electrician who lives in Meru. “But after independence they were happy because the land was theirs.”Before independence, said M’Ringera, British flags flew over Kenya’s hilltops, including the one on his farm. But afterward, “They promised they would leave and never come back. We forgave and forgot.”A visitor told him the British court case is going forward. M’Ringera said, “I am glad.”last_img read more

Weekend Poll Top Three: Fans Pick Morales as Their Favorite A Chorus Line Auditionee

first_img 1. Diana Morales—17% She may not be the best at becoming an ice cream cone (no matter how hard she tries to melt), but this streetwise performer from the Bronx is the real deal. As she proves in her two big numbers, Morales has both the spunk to keep you in check and the heart to make you realize that it’s all worth it in the end. Two things that we’d probably need at an emotional audition process. A-five, six, seven, eight! On June 23, the Public Theater honors the 40th anniversary of the creation of A Chorus Line with a starry gala. Yes, the Tony and Pulitzer-prize winning musical by Marvin Hamlisch, Edward Kleban, James Kirkwood and Nicholas Dante is turning the big 4-0. To celebrate this milestone, we asked you which kicklining hopeful was your favorite—which one would you most like to hang out with at an audition? The resumes and headshots are in and here’s who you picked! View Comments 3. Sheila Bryant—11% As one of the more seasoned dancers of the bunch, Sheila is a bit of a firecracker. She’s admonished by Zach for not taking the audition seriously. But when she opens up about her childhood by kicking off the powerhouse trio “At the Ballet,” we’re all ears. We also suspect she’d make a great movie-night date. The Red Shoes, anyone? 2. Bobby Mills—13% This might come as an absolute shock, but the folks of the Broadway.com editorial team are not known for their athletic skills. Which is why we were pleasantly surprised to find this sharp-tongued joker as a Broadway.com fan favorite. Plus, after breaking into homes to rearrange furniture, he’d probably share some good interior decorating tips during the downtime.last_img read more

B’way Grosses: Waitress Bakes Up Hot Numbers

first_img Related Shows Waitress The new musical Waitress began Broadway performances on March 25, and its numbers are already good enough to eat. The tuner, written by Sara Bareilles and starring Jessie Mueller, played to a capacity of 101.15% in its first three previews, grossing an impressive 111.38% of its potential. Audiences on the first night, who were extra eager to get the first bite, broke the house record at the Brooks Atkinson Theatre for a single performance. Meanwhile, several family-friendly shows had high weeks as schools entered spring break, including three perennial favorites that each added an extra performance, plus School of Rock and Matilda.Here’s a look at who was on top—and who was not—for the week ending March 27:FRONTRUNNERS (By Gross)1. The Lion King ($2,629,844)*2. Wicked ($2,532,613)*3. Aladdin ($2,127,857)*4. Hamilton ($1,719,570)5. The Book of Mormon ($1,414,631)UNDERDOGS (By Gross)5. American Psycho ($365,186)****4. Shuffle Along ($358,845)*****3. Eclipsed ($318,920)2. Hughie ($278,658)1. The Father ($163,744)***FRONTRUNNERS (By Capacity)1. The Book of Mormon (102.61%)2. Hamilton (101.77%)3. School of Rock (101.42%)4. Waitress (101.15%)*****5. The Crucible (100.24%)**UNDERDOGS (By Capacity)5. Hughie (74.21%)4. On Your Feet! (73.85%)3. The Father (68.00%)***2. Eclipsed (62.76%)1. Disaster! (61.54%)*Number based on nine regular performances**Number based on eight preview performances***Number based on seven preview performances****Number based on four preview performances*****Number based on three preview performancesSource: The Broadway League Jessie Mueller in ‘Waitress’center_img View Comments Show Closed This production ended its run on Jan. 5, 2020last_img read more