These were the largest outer-borough real estate loans in November

first_imgFrom left: Eliot Spitzer, 420 Kent Avenue, Two Trees Management’s Jed Walentas  and 300 Ashland Place in Brooklyn (Photos via Getty; ODA Architecture, 300 Ashland)While outer-borough loan activity in November fell short of October’s nearly $2 billion, it was an improvement over previous months. In total, the total volume of the top 10 loans was $1.34 billion — a big increase over the $494 million in activity in September.The largest loan was a $298 million refinancing deal for Eliot Spitzer’s massive development at 420 Kent Avenue in Williamsburg, followed by a $193.9 million loan for Two Trees Management’s rental building at 300 Ashland Place in Fort Greene.Along with those two giant loans, three other Brooklyn mortgages made it into the list. Here are the largest outer-borough loans for the month of November:1) Spitzer refi | Brooklyn | $298 millionEliot Spitzer’s development firm secured a $298 million mortgage loan from Citigroup as part of the $388 million refinancing package for its massive rental complex at 420 Kent Avenue in Williamsburg. The 1.5 million-square-foot waterfront complex consists of three glass towers designed by Eran Chen’s ODA New York, with 857 rental apartments, 25,000 square feet of retail and 80,000 square feet of outdoor space.2) All in on Ashland | Brooklyn | $193.9 millionTwo Trees Management, through the entity 20 Lafayette, borrowed $193.9 million from Wells Fargo Bank for its 35-story, 379-unit rental apartment building at 300 Ashland Place in Fort Greene. Designed by TEN Arquitectos’ Enrique Norten and Ismael Leyva Architects, the luxury rental apartment building opened in 2017.3) Alexander’s apartments | Queens | $94 millionVornado Realty Trust borrowed $94 million from Wells Fargo for The Alexander, a 312-unit residential building at 61-01 Junction Boulevard in Rego Park. The property is part of Alexander’s, a real estate investment trust controlled by Vornado. The interest-only loan has a fixed rate of 2.63 percent and matures in November 2027, according to Vornado’s financial statements.4) Borrowing in the Bronx | Bronx | $54 millionJCS Realty Group landed on three loans totaling $54 million for its project to develop a 12-story mixed-use building in Mott Haven. The project, featuring 215 apartments and 4,300 square feet of commercial space, will be located at 276 Grand Concourse. The lender was S3 Capital Partners, through an entity called S3 RE 276 GC Funding.5) Borrowing in the Bronx, pt. 2 | Bronx | $44.2 millionRelated Companies, through the entity Related Retail Hub, borrowed $44.2 million for three parcels at 2984 Third Avenue and 3006 Third Avenue, as well as a vacant lot on Bergen Avenue in the Bronx, from Goldman Sachs Bank.6) Flush with cash | Brooklyn | $40 millionRiverside Developers USA, through the entity Flushing & Little Nassau, borrowed $40 million from Bank Leumi USA for two parcels at 376 and 378 Flushing Avenue in Bedford-Stuyvesant. Riverside plans to build an eight-story, mixed-use building on the two sites, featuring 75 residential units and about 10,000 square feet of commercial space.7) Banking on Bergen | Brooklyn | $30 millionAlma Realty, through the entity 467-75 St. Marks Ave. Assoc., borrowed $30 million from Deutsche Bank for 880 Bergen Street in Crown Heights. The parcel houses a 14-story multifamily building with 136 apartments.8) Look for the Helpers | Bronx | $27.8 millionHelp USA., a housing advocacy nonprofit, through the entity Home Simpson, borrowed $27.8 million from Sterling National Bank for 1210 Simpson Street in the Bronx. The nonprofit plans to construct a seven-story, 72-unit community facility on that site.9) Eight is great | Bronx | $25.9 millionBenzion Wachsman’s Andrews Plaza Holdings borrowed $25.9 million from New York City Community Bank for eight parcels in the Bronx: 1725 and 1760 Andrews Avenue South; 1759-1761 Montgomery Avenue; 1785 and 1800 Popham Avenue; 1820 Phelan Place; 1840 Sedgwick Avenue; and Billingsley Terrace. Seven of those parcels are home to multifamily buildings, while the eighth at Billingsley Terrace is a vacant lot.10) Turner back time | Brooklyn | $25 millionTurner Towers Cooperative borrowed $25 million from Morgan Stanley for its site at 135 Eastern Parkway in Prospect Heights. Built in 1926, the 15-story, 186-unit building was initially a rental apartment complex, but was later turned into a cooperative, according to Streeteasy.Read moreOuter-borough loan activity fired up in OctoberThese were the top outer-borough loans in SeptemberSpitzer snags $388M loan for Williamsburg complex Email Address* Message* Contact Akiko Matsuda Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlinkcenter_img TagsbrooklynCommercial Real EstateMultifamily MarketQueensthe Bronx Full Name* Share via Shortlinklast_img read more

Clocks Go Back This Sunday

first_imgA reminder: don’t forget to change all your clocks tomorrow (Sunday).last_img

Properties in Oxford named the most expensive in the country outside of London for second consecutive year

first_img“In order to rent somewhere affordable, students often end up in properties that are cold, poorly furnished, cramped or otherwise unserviceable.“Letting agents are very hit-and-miss, and as people on a budget and inexperienced in renting a property, students are quite often at their mercy.“Personally, I think that colleges should prioritize acquiring accommodation for all their students for the duration of their courses.“Even if you’re renting experience is otherwise fine, there’s only so many times one wants to walk up and down Magdalen Bridge on the way to Cowley.”Balliol second year Nicola Dwornik commented: “Living out in Oxford is incredibly expensive, especially given that most of us are used to the comfort of having highly subsidised college rents. Oxford is the least affordable place to live in the UK, outside of London, for the second year in a row, according to research by Lloyds Bank.The study compares the average house price against the average income in the city for an ‘affordability rating’.The research found that Oxford’s average property price, £385,372, is 10.7 times that of the city’s average earnings, £36,033.Oxford University Labour Club (OULC) condemned the findings. They said: “It is a scandal that we see yet again house prices in Oxford outpacing what ordinary people can afford.“We already see rising homelessness in our city, and if we don’t invest in more affordable housing we will see Oxford become a place where only the richest can live securely.”The study also found that, over the last five years, average house prices nationwide have increased by 32 per cent, from 2012’s £169,966 to 2017’s record high of £224,926.The city of Cambridge was found to have seen the fifth-highest rate of increase on the average house price, at 46 per cent.The results show a clear split between north and south: all five of the least affordable cities were in the South of England, while cities in the North and Midlands of England, as well as in Scotland and Northern Ireland, were found to be the five most affordable. Eimer McAuley, a first year English student at St Peter’s, told Cherwell: “As a Northern Irish student living in Oxford, I have found it to be an expensive area, which has made budgeting difficult.“I do feel that the affordability of Belfast could influence my choice in whether to return home after University. For Northern Irish students, if the more expensive tuition fees weren’t already an unattractive prospect, the idea of budgeting in a place as expensive as Oxford could mean that Queens University Belfast would seem the better more practical option.”William Shaw, a finalist at Corpus Christi, said: “In my opinion this is a real shame. As someone who’s about to graduate I would love the opportunity to stay in Oxford, but that’s simply never been on the table.“I think this is a reflection of the gross over-investment in London and the Home Counties at the expense of the rest if the UK. We either need more affordable housing, or for the economy to not be so obsessively clustered in one corner of the UK that it creates these awful living costs.”Stephen Hawes, a second-year historian, told Cherwell: “I think that renting as a student in Oxford is made much more difficult by high house prices. “For Balliol students, our rental costs and bills increase by about 40 per cent during the year we live out in private accommodation—this doesn’t produce happy parents.“But, I guess, what should we expect? Oxford is 30 minutes from London, rather ‘charming’ and there’s a Waitrose in Botley; of course house prices are expensive. My main grievance is that some colleges provide accommodation for all years of your course, even if its off-site, which makes things a lot cheaper. Conclusion: I should have applied to Trinity.” Oxford City Council said: “Tackling the city’s housing crisis has been a top priority for Oxford City Council for the last decade. The key elements of our strategy over that period have been to build as many affordable homes as possible, to unlock a series of major develop- ment sites, to work with private landlords to raise standards in rented homes, to retain a signifi- cant stock of social housing and to work with neighbouring councils and central Government to meet our housing need. The housing strategy has been the top priority in our Corporate Plan throughout this period.“The City Council is seeking to deliver housing on the remaining available large sites within city’s boundaries by working in partnership with private developers to deliver homes at Barton Park, the Northern Gateway and Oxpens.”Felix Bunting, a second-year Physics student at St Anne’s, told Cherwell: “Oxford being the most unaffordable city makes things dif- ficult for students and residents, and speaks of broader concerns about inequality.“I hope Bradford being one of the most affordable will encourage investment in the city, and more people to consider living in a beautiful and thriving area, with the youngest population of any UK city and an enviable record as Curry Capital of Britain.”last_img read more

News story: LLWR initiative is centre stage at safety conference

first_imgAn innovative safety initiative that enables LLW Repository Ltd (LLWR) to measure its performance across a range of workplace criteria was in the spotlight at a major event that brought together representatives from across the nuclear industry.The ‘Perfect Day’ initiative, borrowed from framework contract partner NSG and adapted to meet the needs of LLWR, attracted plenty of interest at the NDA’s Safety, Health and Wellbeing Day at Energus, in west Cumbria.A wealth of information on Perfect Day featured in a ‘Sharing Zone’, where NDA sites that had developed successful initiatives were invited to share information.Gary Cunningham, Deputy Head of Site, hosted LLWR’s exhibition and was impressed with the high level of interest from across the industry.“All discussions around the Perfect Day were really positive, everyone commented that it was a really good initiative that addressed the wider issues other than just focussing on high level numbers regarding accidents and injuries,” Gary said.“I was surprised by the level of interest shown in our work management (schedule adherence) criteria aspect of the Perfect Day. Several of the other NDA sites thought that this was an excellent addition and were impressed with our performance improvement in this area since the start of the initiative.“Several of them commented that this was an area for them that needed improvement and they were very interested in our planning and delivery processes. They suggested that they would be in touch with us in future to get more details, so watch this space.”Perfect Day employs a metric that enables LLWR to measure its safety performance against a set of criteria. These are Safety, Quality, Environmental Stewardship, Security, Stakeholder Relations, Schedule Adherence, Standards and Expectations.A Perfect Day is achieved only if everything goes to plan, no harm is suffered, actions are closed out on time and stakeholders are not given any reason to be unhappy with LLWR.A running total of Perfect Days achieved in the year to date is presented on LLWR’s intranet, so the workforce can gauge progress. LLWR Perfect Day rate this year is running at around 70%.Gary added: “To round the day off the NDA senior executive managers reviewed the day and summarised the event and outputs. In his closing thoughts David Peattie (Chief Executive Officer) mentioned LLWR’s Perfect Day a couple of times in a positive context, again hopefully giving an indication of the message that we are being recognised for what we are doing in this area.”last_img read more

Press release: Hundreds of commercial properties “sitting targets” for waste criminals

first_img We are keen to raise awareness among our membership about the horrendous impacts of this type of organised waste crime. By following tips from the Environment Agency, farmers can take some steps to protect themselves from these scammers and avoid being landed with a huge waste problem and a bill that could run to thousands of pounds. Carry out rigorous checks on prospective new tenants. Land and property owners have a responsibility to ensure anyone leasing their land/premises complies with regulations, so it is essential that you establish how and for what they are going to use the land/property. Check any empty land and property regularly and make sure it is secure. It is illegal to store waste on your land without the required permits. You may be committing an offence by allowing waste to be stored on your land or property without the relevant permissions and you could be liable to prosecution and the cost of removing the waste. Landlords should check before signing a contract that the contract complies with regulations. You can view whether a potential tenant holds the correct permit to carry out waste operations. The offer of payment to temporarily store waste is a scam, the waste will likely never be collected. Be vigilant and report any unusual behaviour. If you are suspicious of prospective tenants please contact us for more information and advice. If you are approached to store baled waste, even on a short term basis, refuse the material and call the Environment Agency on 0800 80 70 60 or Crimestoppers anonymously on 0800 555 111. The Environment Agency is urging owners of land and property across the South East to be extra vigilant after investigations reveal that ‘baled waste crime’ is on the increase.The waste is often plastic, builders, commercial or household rubbish that cannot be recycled and which has no monetary value. The waste is compressed into a block or ‘bale’ and concealed by plastic strapping.There have been incidents of large scale dumping of baled waste on privately-owned sites across Kent, Surrey, Sussex and Hampshire since 2017.Alan Cansdale, an Environment Manager for the Environment Agency, said: The deposit sites include leased and rental properties where the criminals provide false details to secure warehouse space, barns or open land on industrial estates, farms or private property – with articulated trailers on public roads or car parks being targeted as well.In a bid to stop waste criminals in their tracks, the Environment Agency is appealing to property and land owners, commercial property agents, trade associations and local authorities to be on their guard. With the right advice and checks, landlords can also help safeguard themselves.Tom Ormesher, Environment and Land Use Adviser for the National Farmers Union (NFU) in the South East, said: These criminal offences have not been random or opportunistic dumping of waste, but rather systematic and organised crime where secure sites have been targeted using what appears to be legal and above board measures through the property and land leasing process. Most of the sites have been cleared at great expense to the landowners, with clean-up costs in excess of £200,000 a site. The Environment Agency wants owners of property and land to be vigilant and to better protect themselves from these unscrupulous individuals. We’re also asking that businesses, organisations and individuals manage their waste responsibly to prevent it from getting into criminal hands in the first place. We wholeheartedly welcome this campaign, as it addresses a growing problem which has a serious impact on landowners and the environment in our region. We would urge landowners and rural communities to be extra vigilant, be extremely wary around any requests or offers to store waste, and report any incidents or suspicious activity to the Environment Agency. Commercial property agents, trade associations and local authorities across the region have been given the following advice for landlords and landowners. There are hundreds of commercial properties across the South East thought to be empty, all of which are potential targets for waste criminals.The economic impact of waste crime in England is an estimated £604M per annum. The Environment Agency is working hard to address this. Its specialist crime unit uses intelligence to track and prosecute organised crime gangs involved in illegal waste activity and to ensure any necessary action is taken against them.Anyone who sees waste crime taking place, or who has been a victim of illegal baled waste deposit is advised not to approach as these people can be dangerous. Report it by calling our incident hotline on 0800 80 70 60 or call Crimestoppers anonymously on 0800 555 111.The Environment Agency is working closely with the police in their investigation into these offences. Robin Edwards, South East Regional Director for the Country Land & Business Association (CLA), which represents thousands of farmers, landowners and rural businesses, said:last_img read more

New Thaw & Serve range from Aryzta

first_imgGlobal bakery business Aryzta Food Solutions has launched the range to encourage retailers to ‘capitalise on the growing in-store bakery market’.Shoppers are looking for “convenient, great tasting products with a quality assurance”, according to Aryzta.Vincent Brook, head of retail UK at Aryzta, said: “This new range helps retailers to tap into the fast-growing in-store bakery category without the need for an oven.”All that’s required is a freezer to store the products before thawing the amount needed each day, he added. “With an average margin of 35%, it’s the perfect solution for retailers.”The new range comes with a two-tier bakery unit, and comprises:•          Fully Baked Croissant – a butter rich croissant fully baked for convenience (RSP £0.70, case size 35)•          Fully Baked Raisin Swirl – pastry swirl with plump raisins and crème patissiere (RSP £0.70, case size 24)•          Fully Baked Chocolate Hazelnut Croissant – croissant with chocolate hazelnut filling, topped with chocolate sprinkles (RSP £0.70, case size 24)last_img read more

Biden, at prayer breakfast, calls out ‘political extremism’

first_imgWASHINGTON (AP) — President Joe Biden has called for a confrontation of the “political extremism” that inspired the U.S. Capitol riot in remarks at the National Prayer Breakfast. Thursday’s breakfast is a Washington tradition that asks political combatants to set aside their differences for one morning. Biden is the latest in a long line of presidents to address it. The breakfast gave the nation’s second Catholic president a chance to talk about his vision of faith. The event has sparked controversy in the past, particularly when President Donald Trump used last year’s installment to slam his political opponents. Some liberals view the event warily because of the conservative faith-based group that’s behind it.last_img read more

Lamm earns international honor

first_imgUniversity of Georgia Associate Professor Alexa Lamm has earned the 2020 Borlaug CAST Communication Award from the Council for Agricultural Science and Technology (CAST). The award is presented annually for outstanding achievement by a scientist, engineer, technologist or other professional working in the agricultural, environmental or food sectors for contributing to the advancement of science in the public policy arena.An associate professor of science communication and graduate coordinator for the Department of Agricultural Leadership, Education and Communication in the College of Agricultural and Environmental Sciences (CAES) at UGA, Lamm has a long list of accomplishments as a scientist, educator and writer and is recognized nationally and internationally as an acclaimed research scholar.Colleagues and associates praise her intelligence and hard work, and they note that Lamm is a “skilled translator” with a way of making tech and science accessible for all, from policymakers to the general public.“We are so very proud of Dr. Alexa Lamm being named the recipient of the Borlaug CAST Communication Award,” said Sam Pardue, CAES dean and director. “This award commemorates the work of Dr. Norman Borlaug, father of the Green Revolution, whose goal of ending global hunger is still embraced by the UGA College of Agricultural and Environmental Sciences. Dr. Lamm’s long record of prolific publication of research in agricultural communication at the intersection of public policy and public opinion is remarkable. Congratulations to Dr. Lamm for this outstanding achievement.”As a leader in the field of social science research, Lamm examines the impacts of communication and educational practices, especially as they relate to technology that advances agricultural production while maintaining a sustainable environment. Much of her work explores how people make decisions about water conservation, water protection and water policy. Lamm was an integral part of the team that created a new doctoral program in the UGA Department of Agricultural Leadership, Education and Communication that will launch its first cohort in fall 2020.“Throughout my career, starting first as a county agricultural Cooperative Extension agent and now working with policymakers internationally, I have experienced the importance and impact of effectively communicating agricultural and environmental science at all levels of society,” Lamm said. “I am honored and humbled to receive this prestigious award.”Lamm has published more than 150 peer-reviewed journal articles, garnered millions of dollars in extramural funding, and presented her findings hundreds of times using traditional and nontraditional media methods.Currently serving as the executive editor of the Journal for International Agricultural and Extension Education, Lamm has conducted educational programs in more than 32 countries. Along with her leadership roles and publications, she has made numerous appearances on radio and television, been actively involved with social media, and communicated in various ways with consumers, farmers, local leaders and students in the classroom.Along with her many other duties, Lamm teaches several graduate-level science communication courses. Lamm won the 2019 National Researcher Award from the American Association of Agricultural Education and has received recognition and awards in many areas including extension, agricultural leadership, education and communication. Lamm joins 10 other respected and talented science communicators in receiving the award, which honors the legacy of Norman Borlaug, a Nobel Peace Prize-winning American agronomist who led initiatives worldwide that contributed to the extensive increases in agricultural production termed the Green Revolution.As one of her colleagues said, “Dr. Lamm is an outstanding researcher who exemplifies the skills, dedication, and success this award is designed to recognize.”Lamm will be recognized at an award presentation during World Food Prize Symposium week in October 2020. In addition to honoring Norman Borlaug, the Borlaug CAST Communication Award recognizes the legacy of Charles A. Black, the first president of CAST.To learn more about the award, visit cast-science.org. For information about the Department of Agricultural Leadership, Education and Communication, go to alec.caes.uga.edu.last_img read more

Move in Congress to Open an Oil-and-Gas Industry Tax Break to Solar and Wind Too

first_img FacebookTwitterLinkedInEmailPrint分享Washington Post:One of the biggest boons for the oil-and-gas sector is the use of a legal entity called a master limited partnership, or MLP, which allows firms to lighten their tax loads and get easier access to investment in pipelines and other projects.Now a group of bipartisan senators wants to let alternative sources of energy use that investment and tax vehicle, too.On Wednesday, Sens. Christopher A. Coons (D-Del.) and Jerry Moran (R-Kan.) will introduce a bill designed to allow firms building wind turbines, solar farms and other alternative energy projects to use MLPs.Normally, money made by a publicly traded company is taxed twice — both the corporation and its shareholders pay their own separate tax bills.But an MLP qualifies as what’s known as a “pass through” company — earnings pass through the partnership to the shareholders without being taxed.Since the 1980’s, oil and gas firms create MLPs for individual pipelines, refineries and other energy infrastructure projects. But the current tax code prevents their use in wind, solar hydropower, fuel cell, waste-heat-to-power and energy-efficient building projects — all targets of the Coons-Moran proposal.Unlike other limited partnerships, MLPs can sell off shares in the venture. With access to this particular corporate entity, renewable energy projects could raise capital more easily than they do today.“The United States has the largest and most efficient capital markets in the world,” Moran said in a statement, “yet our renewable energy companies rarely have access to those markets.”Right now, only large institutional investors, such as Google and Goldman Sachs, can make investment plays that take advantage of renewable tax credits. The MLP proposal would, in contrast, “open up to regular people the ability to invest in clean energy,” said Dan Reicher, executive director of the Steyer-Taylor Center for Energy Policy and Finance at Stanford University who helped craft the Coons-Moran proposal.At the same time, a subsidy may lure more of those big institutional funders. “Just allowing these technologies to access MLPs signals to investors to put money into even earlier-stage projects,” said Kurt Waltzer, managing director of the Clean Air Task Force, an environmental group.If the expanded subsidy became law, it would arrive just as solar and wind tax credits are scheduled to wind down over the next five years. Renewable energy advocates like to note that the subsidies propping up wind and solar are temporary while those for oil and gas, like MLPs, are permanent. So they see two paths to parity in the industry: expanding MLPs to nearly all forms of energy, or getting rid of them for everyone.The oil and gas sector, and its allies in Congress, appear to have erected few, if any, roadblocks in the way of going down the first road. The bill throws the oil and gas sector a few bones by granting firms the ability to use MLPs for technologies the sector is developing, including carbon capture and storage, combined heat and power and algae-based fuels.More: Tax debate opens door for renewables to get same break as fossil fuels Move in Congress to Open an Oil-and-Gas Industry Tax Break to Solar and Wind Toolast_img read more

Construction under way at South Korea’s largest hybrid wind, solar, storage project

first_img FacebookTwitterLinkedInEmailPrint分享PV Magazine:Chinese solar module manufacturer JA Solar has announced that it will supply its products for one of the world’s largest hybrid solar-wind projects, a 133 MW plant under construction by South Korea’s EPC LS Electric.The panel maker said its modules will be used to build the 93 MW PV section of the facility, which will be deployed on the ground of an existing 40 MW wind farm.“This project uses the spare land of the wind farm for the installation of the photovoltaic power plant to meet the South Korean market’s growing demand for clean energy while effectively raising the utilization of the land,” JA Solar said, adding that the plant would be the country‘s largest mountainous photovoltaic power plant project.According to LS Electric, the project, named Yeongam Solar Power Generation Project, is located in Yeongam county, South Jeolla Province, in the Honam region at the southwestern tip of the Korean peninsula, which is seeing blossoming development of small scale renewables projects.The facility, which is planned to be connected to a battery capacity of 242 MWh, is being developed by Korean wind specialist Daemyoung Energy. According to LS Electric, Daemyoung Energy will sell renewable energy certificates from solar power generation to local utility Korea South-East Power Co. under a 20-year contract.The project is scheduled to begin commercial operation by the end of the year.[Emiliano Bellini]More: South Korea’s largest hybrid solar-wind project Construction under way at South Korea’s largest hybrid wind, solar, storage projectlast_img read more