Manhattan luxury market has best month in six years

first_imgA Columbus Circle apartment once owned by Tom Brady and Gisele Bundchen  went into contract last week, helping the Manhattan luxury home market finish February on a high note. 551 West 21st Street on the right. (Photos via Compass, Getty, Foster and Partners)Manhattan’s luxury market is on a four-week streak the likes of which it has not seen since 2015.In February, 144 homes asking more than $4 million — or $1.18 billion altogether — went into contract in the borough, according to Olshan Realty. The last time the market had such a month was in early 2015 when 138 properties asking $1.2 billion went into contract.Last week alone saw 40 contracts inked, according to Olshan’s latest market report. That’s up from the previous week’s haul of 36 contracts and it marked the first time the weekly number of contracts reached 40 since August 2016. The average discount from the first asking price to the final ask was 11 percent.“It’s the trend and if you believe in buying into the trends, then you can say the luxury market is back,” said Donna Olshan, author of the report.ADVERTISEMENTRead moreManhattan luxury market sees another strong week with 36 dealsMaking Lemonade: Don Lemon breaks even on Harlem condo saleTownhouses dominated Brooklyn luxury contracts — again The majority of last week’s deals were Downtown condominiums. Of the 26 condos that went into contract, 14 were sponsor units. It continued a trend this year of new development condo sales picking up: year-to-date, 185 condos have gone into contract and the vast majority, 103 of the units, were sold by developers, per Olshan.Also in Manhattan last week, contracts were signed for nine co-ops and four townhouses asking $4 million or more.The most expensive contract was for two adjacent condos at the Foster + Partners-designed building at 551 West 21st Street in West Chelsea. They appear to have sold at a loss. The units were sold by an investor who had paid $31.28 million in 2016. The units were listed as a pair a year later for $40 million but were asking a combined $25.99 million when they went into contract last week.Together, the condos span 8,131 square feet, but they are separate homes and figure to be combined by the new owner.Listing broker Brett Miles of Compass told Olshan the buyer was a New York family. He handled the listing with Aysegul Demir of Douglas Elliman. The buyer was represented by Michael Sin of Adara Advisors.The second priciest contract of the week was a renovated unit at 80 Columbus Circle. The 5,323-square-foot unit 74AB is the combination of two units, one of which was formerly owned by NFL quarterback Tom Brady and supermodel Gisele Bündchen.The seller bought the two units for a combined $35.5 million between 2011 and 2014, and initially listed the renovated condo in October 2019 for $29 million. The unit went into contract last week seeking $25 million.The buyer was a New Yorker who is moving back to the city with his family after living overseas, listing broker Alexa Lambert of Compass, who handled the sale with Mark Achilles, told Olshan. The buyer was represented by Ileen Schoenfeld of Brown Harris Stevens.Contact Erin Hudson Message* Email Address*center_img Full Name* This content is for subscribers only.Subscribe Nowlast_img read more

Jim Henson’s Labyrinth Is Being Made into a Stage Musical

first_img The beloved 1986 film Labyrinth is getting the theatrical treatment. Brian Henson, chairman of the Jim Henson Company and son of the movie’s late director, Jim Henson, revealed the in-the-works musical to Forbes in an interview about the flick’s upcoming re-release in cinemas. The film starred and featured the music of stage alum and songwriting icon David Bowie.”We are working on a theatrical adaptation of the original movie for the stage,” said Henson, noting that a film sequel is also in development. “Those are the two areas of excitement for the Labyrinth property that we have. We are working on both of those but I certainly don’t have a timeline for them.”Labyrinth follows teenager Sarah (played on-screen by Jennifer Connelly), who summons Goblins to take away her baby stepbrother. When he actually does disappear, Sarah follows him into a world of fantasy to protect him from the Goblin King (played by Bowie).A songwriter for a stage adaptation isn’t yet known, but an obvious choice would be featuring Bowie’s music from the film. When asked whether the musical is aiming for a debut on the Great White Way, Henson wasn’t clear.”Not necessarily Broadway; it could be for London’s West End, but it will be a stage show, a big theatrical version. It’s very exciting.” View Comments Jennifer Connelly & David Bowie, stars of the 1986 film “Labyrinth”(Photo: Jim Henson Company)last_img read more

Transglobe Automotive Names Gary Mercer Global Sales and Marketing Director

first_imgCERRITOS, Calif. – Transglobe Automotive, based in Cerritos, Calif., has announced the appointment of industry veteran Gary Mercer as the company’s new global sales and marketing director. This is a new position recently created by the company.AdvertisementClick Here to Read MoreAdvertisement An industry veteran and graduate of AWDA University, Mercer has gained experience with such notable aftermarket companies as Tenneco, Raybestos, ITT Aimco, Brembo North America, and most recently Best Brakes. In this new position, Mercer will be responsible for marketing a complete line of brake products as well as building a sales and marketing team. Transglobe is a new supplier of brake products, specializing in drums, rotors and friction products.,Lubrication Specialties Inc. (LSI), manufacturer of Hot Shot’s Secret brand of performance additives and oils, recently announced the expansion of senior leadership. Steve deMoulpied joins LSI as the company’s chief operating officer (COO). AdvertisementClick Here to Read MoreAdvertisement DeMoulpied has a Bachelor of Science degree in Engineering Management from the United States Air Force Academy and a Master of Business Administration degree from the University of Dayton in Marketing and International Business. He served six years with the USAF overseeing the development of technology used on fighter aircraft and the E-3 Surveillance aircraft, finishing his career honorably as Captain. LSI President Brett Tennar says, “Steve’s success in developing operational strategies that improves the bottom line, builds teamwork, reduces waste and ensures quality product development and distribution checks many of the boxes of what we were looking for in a COO. This, coupled with his career in the Air Force working with highly technical systems and his in-depth understanding of Lean Six Sigma and Business Process Management sealed our offer. As our tagline states, our products are Powered by Science. This data driven approach is one reason why our company has grown exponentially as we employ the most advanced technology to product development. I am confident that Steve is the right person to drive operational strategy for our diverse and growing brands.” Advertisement DeMoulpied comes to LSI from the Private Client Services practice of Ernst & Young where he managed strategy & operations improvement engagements for privately held client businesses. Some of his prior roles include VP of strategic development, director of strategic initiatives, and Lean Six Sigma Master Black Belt at OptumHealth, UnitedHealth Group’s health services business, as well as Lean Six Sigma Black Belt at General Electric, where he applied operations improvement principles to customer service, supply chain and product development. A successful entrepreneur, deMoulpied is also the founder of PrestoFresh, a Cleveland-based e-commerce food/grocery business.  With more than 20 years of experience across multiple industries and functional areas, deMoulpied has particular expertise in organizations with complex technical products. Combined, his prior positions have required a spectrum of skills in corporate strategy, operations improvement, product quality, and revenue cycle management. He has an impressive history of utilizing data driven problem solving (Lean Six Sigma) and project management (PMP and CSM) to achieve strategic goals surrounding customer satisfaction, operational efficiency and improved profit. last_img read more

Training regime

first_imgSubscribe to Building today and you will benefit from:Unlimited access to all stories including expert analysis and comment from industry leadersOur league tables, cost models and economics dataOur online archive of over 10,000 articlesBuilding magazine digital editionsBuilding magazine print editionsPrinted/digital supplementsSubscribe now for unlimited access.View our subscription options and join our community Subscribe now for unlimited access Stay at the forefront of thought leadership with news and analysis from award-winning journalists. Enjoy company features, CEO interviews, architectural reviews, technical project know-how and the latest innovations.Limited access to industry news as it happensBreaking, daily and weekly e-newsletters To continue enjoying, sign up for free guest accessExisting subscriber? LOGIN Get your free guest access  SIGN UP TODAYlast_img read more

Filipina spikers bow to Aussies in Thailand tourney

first_imgAlyssa Valdez of the Philippines drills the ball past two Australian defenders during their 2018 Asian Volleyball Confederation Women Seniors Cup game on Sunday, Sept. 16 in Thailand. AVC MANILA – The Philippines failed to sustain its strong start to suffer a 25-21, 25-22, 24-26, 16-25, 10-15 defeat to Australia in the 2018 Asian Volleyball Confederation Women Seniors Cup in Thailand.Sunday night’s defeat was heartbreaking for the Filipina spikers, who won the first two sets and nearly finishing off the Australians in the third before fading in the fourth and fifth sets.The Philippines got into a tight exchange with Australia in the first set as it trailed 17-19 before Cha Cruz, Alyssa Valdez and Mylene Paat conspired in the next 8 points to turn things around.Australia had a strong start in the second frame 6-2 but the Philippines kept it close and forced deadlocks 11-all and 21-all before draining 4 straight points from Cruz and Paat for a 2-0 set edge. The Philippines struggled in the third set and fell behind 12-18 before mounting a huge fight-back behind Valdez and Paat to tie the scores 24-all. But it conceded two goals to the Aussies.In the fourth set the Philippines had a flat start and fell behind by double-digits as Australia’s Rachel Rourke anchored the offense and dragged the Filipinas to a fifth and deciding set.The Philippines barely hung on to an 8-6 advantage after a slow start in the fifth frame. Rourke pounded on the defense of Cruz to take an 11-8 edge before completing Australia’s fight-back for good.Rourke led Australia’s scoring with 33 points while Valdez and Paat finished with 25 and 17 points, respectively, for the Philippines./PNlast_img read more