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REBNY pitches turning empty Manhattan offices into housing

first_imgShare on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Share via Shortlink REBNY’s  James Whelan  and RXR’s Scott Rechler (Photos via REBNY; Getty; iStock)New York City office landlords, faced with empty workplaces, could soon have an easier path to rebooting their buildings.The Real Estate Board of New York, whose members are major developers and office landlords, is proposing that the city and state allow developers to more easily convert offices into apartments, the New York Times reported. In Manhattan, 140 million square feet of less-than-luxurious office space could be converted into apartments. Across the five boroughs, REBNY has identified 210 million square feet of such office space.Even using 10 percent of that office space for apartment homes would yield 14,000 apartments citywide — enough to make a dent in the city’s affordability crisis, the group reasoned.Such conversions could be made easier by easing zoning restrictions that require manufacturing, changing density requirements and creating new tax breaks for landlords.The plan is in response to an increasingly bleak picture for Manhattan’s office landlords. In October, just 10 percent of Manhattan’s one million office workers had returned. Even as news of a vaccine lifted office REIT share prices, some of the work-from-home trends implemented during the pandemic may persist after it is over.“It would probably be fair to say we haven’t hit bottom yet,” said James Whelan, president of the Real Estate Board of New York.Although few office workers have returned to their physical places of work, productivity has not suffered. That’s bad news for office landlords whose businesses depend on the value of in-person work to command office rents, which reached a historic high last year of $80.25 per square foot.“Anyone that thinks the way that people used the workplace in the past isn’t going to change postpandemic is fooling themselves,” said Scott Rechler, CEO of RXR Realty. Rechler’s firm controls 26 million square feet of office space in New York City.[NYT] — Georgia Kromreicenter_img TagsCommercial Real EstateCoronavirusManhattan Office MarketReal Estate Board of New Yorklast_img read more

Wind-driven upwelling around grounded tabular icebergs

first_imgTemperature and salinity data collected around grounded tabular icebergs in Baffin Bay in 2011, 2012, and 2013 indicate wind-induced upwelling at certain locations around the icebergs. These data suggest that along one side of the iceberg, wind forcing leads to Ekman transport away from the iceberg, which causes upwelling of the cool saline water from below. The upwelling water mixes with the water above the thermocline, causing the mixed layer to become cooler and more saline. Along the opposite side of the iceberg, the surface Ekman transport moves towards the iceberg, which causes a sharpening of the thermocline as warm fresh water is trapped near the surface. This results in higher mixed layer temperatures and lower mixed layer salinities on this side of the iceberg. Based on these in situ measurements, we hypothesize that the asymmetries in water properties around the iceberg, caused by the opposing effects of upwelling and sharpening of the thermocline, lead to differential deterioration around the iceberg. Analysis of satellite imagery around iceberg PII-B-1 reveals differential decay around the iceberg, in agreement with this mechanism.last_img read more

Echo Energy makes non-commercial gas discovery at Tapi Aike licence in Argentina

first_imgNon-commercial gas discovery follows the completion of testing on the lower secondary target and the primary target Echo Energy made non-commercial gas discovery at the Campo La Mata Exploration well. (Credit: Pixabay/skeeze) Echo Energy has made non-commercial gas discovery at the Campo La Mata Exploration well (CLM x-1) in the Tapi Aike licence in Argentina.The move follows the completion of testing on the lower secondary target (Anita) and the primary target (Lobe C).The lower secondary Anita target, following cleanout operations, flowed at surface at an estimated rate of up to 0.57 million standard cubic feet per day (MMScf/d) with an estimated average rate of 0.35 MMscf/d.Following cleanout activities, the primary Lobe C target flowed at the surface at an estimated rate of up to 0.28 MMScf/d with an estimated average rate of 0.25 MMscf/d.However, the firm did not retrieve condensate from the interval, which is said to be in line with the mud-log showing 93% methane.Two targets fail to meet stabilised production rate across the intervalsThe firm said the two targets, although contained gas, did not flow at stabilised production rate across the intervals of approximately 1.0 MMscf/d, which is required for considering them as commercially viable.Echo Energy CEO Martin Hull said: “It is a disappointment that our initial exploration well at Tapi Aike has returned non-commercial flow rates from the tested intervals.“Data from the CLM-x-1 well will now be used to calibrate and further inform our subsurface model and the JV partnership will use this enhanced dataset to identify future drilling locations on the licence It is anticipated that the second Tapi Aike Exploration well will spud in H2 2020.“At Santa Cruz Sur, we expect to commence testing shortly on the recently drilled Campo Limite (CLix-1001) well. We look forward to updating the market on the results of the CLix-1001 testing operations in due course.”The Tapi Aike partners are currently assessing independent plays in the recently processed western seismic, in a bid to drill one well in the area at a later stage.Separately, Echo Energy is planning to commence testing operations at the recently drilled Campo Limite (CLix-1001) well at Santa Cruz Sur in the second half of February 2020.In December 2019, Echo Energy said it has deployed the Petreven H-205 rig to the Palermo Aike production concession, in the Santa Cruz Sur assets, to drill the Campo Limite exploration well.last_img read more

Rightmove sends out portal juggling reminder

first_imgHome » News » Rightmove sends out portal juggling reminder previous nextProducts & ServicesRightmove sends out portal juggling reminderEmail out this morning is sign portal is starting to take listing abuse seriouslyNigel Lewis17th February 201701,257 Views Rightmove has sent out a reminder to agents reiterating the 14-week rule it introduced in December last year to combat portal juggling by sales agents.The email (see right) reveals a little more about how Rightmove’s policing system works.It highlights how properties that are re-listed during the 14-week period will not change their date or be sent out in property alerts.Rightmove now has what it calls a ‘growing team’ of tech experts and new software trawling its listing for errant listings, and also recently held a meeting with leading anti-portal juggling campaigner and former Jupix boss Robert May, who has built a software suite that can spot errant agents when they ‘play’ the listings game.“When you’ve got 25,000 [listings] movements a day on a portal like Rightmove then it’s always going to be a challenge for them to see what’s going on and police it,” says Robert.He says the techniques that some surprisingly well-known names in the industry use to juggle their listings is getting ever more sophisticated, including ‘zombie listings’ when previously sold properties are re-listed as ‘SSTC’ and ‘bat out of hell’ listings where properties are listed overnight and then withdrawn in the morning.Last year Rightmove said it removed half a million ‘out of date’ properties and fielded 2,500 calls from agents and consumers about suspect listings.Rightmove has a strict policing system in force for other types of listings abuse. Agents are let off the first time they are caught misrepresenting their listings on the site, but if caught a second time their properties are hidden from public view until the problem is rectified.If discovered a third time their properties are removed from Rightmove’s listings for at least 24 hours.The site says it polices four behaviours: listing a single property several times (a form of portal juggling); not changing a property’s status in time; not removing sold or let properties; and using the ‘images’ section as a marketing platform.Rightmove ‘portal juggling’ February 17, 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 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 2021last_img read more

Reuben brothers top list of growing wealth for property tycoons

first_imgProperty and business moguls David and Simon Reuben have come second in this year’s Sunday Times Rich List with a combined personal wealth of £18.66 billion, up from fourth place last year.The siblings arrived in the UK from India during the 1950s and after making several fortunes in steel and other business areas more recently moved into property and now own more than £1 billion of London residential and commercial bricks and mortar.The Reubens are not the only property-related individuals to have coined it in recently.Others with growing fortunes include Paul Rooney, whose wealth increased by £6 million last year to £146 million.Rooney is the owner of South East estate agency chain Arun Estates and made it into the Rich List for the first time in 2015.Building wealthOthers include the David Wilson family, who own the eponymous house builder. Their wealth increased by £12 million last year placing them at 225 on the list.Other home building dynasties to have prospered include Berkeley Homes founder Tony Pidgely whose fortune increased by £25 million to £335 million. The McCarthy family who established retirement giant McCarthy & Stone and now run Churchills, saw their wealth increase by £15 million to £650 million.For other property millionaires and billionaires it has been a less enriching year. Former Foxtons boss Jon Hunt’s wealth has been treading water at £1.4 billion, as has infamous Kent landlord couple Judith and Fergus Wilson whose fortune has remained at £140 million despite recently signing deals to sell off parts of their portfolio.Sunday Times Rich List Paul Rooney Arun Estates Reuben brothers David Wilson May 13, 2019Nigel 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 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 » Land & New Homes » Reuben brothers top list of growing wealth for property tycoons previous nextLand & New HomesReuben brothers top list of growing wealth for property tycoonsDavid and Simon Reuben are now the UK’s second wealthiest property-related partnership rising to a joint wealth of £18.6 billion.Nigel Lewis13th May 201901,852 Viewslast_img read more

Op Atalanta receives new Operation Commander

first_img Share this article The EU Political and Security Committee on May 18 appointed Brigadier Robert Magowan, an officer from the British Royal Marines, as Operation Commander for the EU Naval Force Somalia, Operation Atalanta.Brigadier Magowan is taking the place of Major General Martin Smith. He is expected to take up his duties on June 3, 2016.The Operation Atalanta was launched in December 2008 to contribute to the deterrence, prevention and repression of acts of piracy and armed robbery off the Somali coast.The operation also protects vessels of the World Food Programme and other vulnerable shipping, monitors fishing activities off the coast of Somalia and supports other EU and international missions in the region such as the African Union Mission in Somalia (AMISOM). Working with the UN and Somali authorities, Operation Atalanta has contributed to the ongoing process of developing Somalia’s maritime capabilities. Authorities View post tag: Op Atalanta May 18, 2016center_img EU NAVFOR’s Somalia mission receives new Operation Commander Back to overview,Home naval-today EU NAVFOR’s Somalia mission receives new Operation Commander View post tag: EU NAVFORlast_img read more

OUSU Gaza motion fails

first_imgAfter a four and half hours of debate, OUSU council has voted to abandon its controversial motion on the conflict in Gaza.The motion, in its original form, would have required the Student Union to condemn the Israeli attack and write letters in support of the ceasefire to Foreign Secretary David Milliband and his Israeli counterpart Tzipi Livni.The debate involved discussing eight amendments and having 41 different votes on moves to vote and changes to standing orders.last_img

Martins Food Group

first_imgNewton Heath and Radcliffe, ManchesterMachinery: two 4m downflow booths, designed to contain dust, such as flour, over large areas of emissionWhy installed: to control flour and ingredient dust at the point of weighing in preparation for onward bakingHow it came about: after discussions with Flextraction, the company decided to invest in a 4m booth because it fitted into the size of the Newton Heath operationsWhat it does: Louvred grilles in the lower rear wall capture the airborne contaminants; the booth operates using continuous recirculation of the air within the booth, meaning no airborne contaminants can escape into the external environmentTech spec: 304 stainless steel downflow booths with an acoustically enclosed fan to minimise overall noise level operate on a re-circulatory airflow principle with a clean, evenly distributed down-flow of air at 0.5m/second. Extraction is via low-level primary roughing filters and secondary bag filters. This then provides down-flow via ceiling-mounted 99.95% filtration efficient HEPA (High Efficiency Particle Arrestor) filters, suppressing any dust downwards away from the operator’s breathing zone. Pressure indicating devices continually monitor the extraction performance, while automatically controlling the 2 x 2.2kW direct-driven, variable speed fans to maintain optimum operating conditionsProblems solved: dust emission checks found that the employees weighing up and tipping flour or ingredients into removable bowl mixers had the lowest emission levels of anywhere in the bakery, so Martins decided to invest in another booth for its Radcliffe operations with exactly the same results, says the firm Supplied by: Flextractionwww.flextraction.co.uklast_img read more

Selectmen approve cannabis beverage bottling facility

first_imgFARMINGTON – A public hearing was held Tuesday night for a proposed marijuana business on the Wilton Road; the application was later approved by selectmen.Kender Farms and 710 Bottling Facility will be opening at 361 Wilton Road after some major renovations to the former dealership building, applicant Charles Crandall told board members. The roughly five-acre lot will provide ample space for the 12,000 square feet of state of the art greenhouses that Crandall and his business partner Jacob Daku plan to install. The greenhouses, manufactured by Next G3N Greenhouse, include high tech odor control methods such as a carbon filtration system and ozone generator.Crandall and Daku have been working together for the last year at Blue Sky Lab in Mercer- a cannabis extraction company- and plan to expand on those offerings with their new venture.The bottling facility, which will occupy the majority of the main building, will produce canned and bottled cannabis beverages such as sodas and seltzers. The product has become increasingly popular and 710 Bottling Facility will soon be providing the only production facility of its size in the state. According to the application, Kender Farms and 710 Bottling Facility currently employs nine full time people and will eventually hire 12-16 more.“We are already very valuable to the state,” Crandall said. “We are the only lab operating at this level.”last_img read more

Hillberry Music Festival Announces Initial 2019 Lineup: Railroad Earth, Del McCoury, Billy Strings, More

first_imgThe Hillberry Music Festival, also known as “Hillberry: The Harvest Moon Music Festival”, is set to return to Eureka Springs, Arkansas this fall for four days and nights of music on Oct. 10th-13th. On Tuesday, event organizers shared the initial part of their 2019 performer lineup, which is led by Railroad Earth, who will play two sets, and the Del McCoury Band.Related: Railroad Earth Offers Heartfelt Tribute To The Late, Great Andy Goessling At Harvest Moon FestivalThe list of artist shared by Hillberry organizers on Tuesday afternoon also includes Billy Strings, Leftover Salmon, The Travelin McCourys, Jeff Austin Band, the Jon Stickley Trio, and Handmade Moments, who will also play two sets. The list is rounded out by Arkansauce, Friends of the Phamily, and Opal Agafia & The Sweet Nothings. More artists are expected to be announced between now and the fall when the event takes place.The four-day festival takes place at the picturesque area of land in northern Arkansas known as “The Farm,” located along the borders of the Mark Twain national forest in the Ozark Mountains of Eureka Springs. Fans can head to the festival website for general information and ticket options.last_img read more