CAL Bank Limited (CAL.gh) listed on the Ghana Stock Exchange under the Banking sector has released it’s 2012 annual report.For more information about CAL Bank Limited (CAL.gh) reports, abridged reports, interim earnings results and earnings presentations, visit the CAL Bank Limited (CAL.gh) company page on AfricanFinancials.Document: CAL Bank Limited (CAL.gh) 2012 annual report.Company ProfileCAL Bank Limited is a leading financial institution in Ghana offering products and services for the investment, corporate and retail banking sectors, as well as custodial, treasury, security brokerage, fund management and asset management services. The banking group underwrites securities and provides financial solutions for corporate finance operations, loan syndications and securities portfolio management, acquisitions and mergers, acceptance of bills of exchange, bullion dealings, export trade development and financing, hire-purchase finance and leasing. CAL Bank Limited provide a counseling and financing service for industrial, agricultural, mining, services and commercial ventures. The financial institution was founded in 1990 and is based in Accra, Ghana. CAL Bank Limited is listed on the Ghana Stock Exchange
Agricultural Development Bank (ADB.gh) listed on the Ghana Stock Exchange under the Banking sector has released it’s 2017 abridged results.For more information about Agricultural Development Bank (ADB.gh) reports, abridged reports, interim earnings results and earnings presentations, visit the Agricultural Development Bank (ADB.gh) company page on AfricanFinancials.Document: Agricultural Development Bank (ADB.gh) 2017 abridged results.Company ProfileAgricultural Development Bank (ADB) is a leading financial institution in Ghana with an agricultural development focus. In 1964, Bank of Ghana set up a Rural Credit Department to manage legislation and plans and procedures for a specialised bank for the agricultural sector. ADB was established in 1965 as the Agricultural Credit and Cooperative Bank. The bank was restructured in 2009 and positioned as a full-service financial institution with an agricultural focus; offering banking products and services to the retail, corporate, commercial, executive and parastatal sectors. ADB is responsible for providing up to 85% of institutional credit to the agricultural market. It also offers services in risk and treasury management. ADB has a national footprint with 78 branches located in the major towns and cities of Ghana, as well as automatic and mobile banking facilities. Agricultural Development Bank is listed on the Ghana Stock Exchange
LATEST RUGBY WORLD MAGAZINE SUBSCRIPTION DEALS We meet Scottish second row Jonny Gray… When did you take up rugby?My friend’s dad took me along to Cambuslang rugby club when I was seven and I stayed with them until I was 16. I was hooked straightaway.Have you always played in the second row?I’m a wannabe back-row and played No 8 when I was younger.What has it been like following your brother Richie into the sport?He’s about five years older than me but we’ve always supported each other and he’s really good with giving me advice. I’ve had a bit of stick about being his brother, but we don’t look so alike now that I’ve stopped dyeing my hair!Who do you admire? This was published in the March 2013 issue of Rugby World. Click here to see what’s in the current edition. Martin Johnson, Paul O’Connell and Al Kellock. Al has been an amazing mentor at the Warriors.When did you get involved with Scotland?I played U18s, then U20s last year and this year.How did you find your league debut for Glasgow in December?It’s been a dream to play for them since I was a boy. I’m still learning every day in training and I just want to continue improving and keep enjoying my rugby.RW Verdict: Still only 18, and with a big act to follow within his own family, Gray has made a great start.
2004 Projects Structural Design: Architects: ELASTICOSPA+3 Area Area of this architecture project Italy ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/380675/yuppie-ranch-house-barn-elasticospa-3 Clipboard Area: 350 m² Area: 350 m² Year Completion year of this architecture project Year: Building Contractor: Studio Arcade Save this picture!© Betta Crovato+ 21 Share Plant Consultant:Del BenTeam:S. Pujatti, A.Del Maschio, M. Luis y Garcia, D. Musmeci, L. Macrì, A. Morassut, M. Burigana, R.CauzCity:BudoiaCountry:ItalyMore SpecsLess SpecsSave this picture!© Betta CrovatoRecommended ProductsCeramicsApavisaTiles – JewelsMetallicsKriskadecorMetal Fabric – Outdoor CladdingEnclosures / Double Skin FacadesAlucoilStructural Honeycomb Panels – LarcoreEnclosures / Double Skin FacadesIsland Exterior FabricatorsCurtain Wall Facade SystemsText description provided by the architects. The yuppie ranch house stands in a hilly landscape, looking out on one side towards the mountains and on the other to the dry and stony plain of Friuli. The only trace of human presence before the construction of the house was some old railway cross-ties once raised to mark a property boundary Save this picture!© Betta CrovatoThe structure plays upon the varying density in the vertical arrangement of the cross-ties which feature both in the perimeter fence and as a partial cladding for the house façade. The Cor-ten steel façade, in fact, adopts a modular pattern whose base unit is the same size as the wooden cross ties. Save this picture!© Betta CrovatoThe fluid forms were inspired by the gently rolling hills, whilst the green roof establishes an even clearer link with the slopes of hills and mountains. A ramp enables people and horses to gain access to the roof, from where there is a spectacular view.Save this picture!ElevationThe layout of the house also hinges around a ramp, which not only serves as the hub for the distribution of individual rooms but also provides an area of relaxation around the central fireplace.Save this picture!© Betta CrovatoMaterials were chosen so that the passage of time would play a clear role: season after season, the house will age, becoming part of the surrounding landscape.Save this picture!PlanProject gallerySee allShow lessPlinth House / LAND ArquitectosSelected ProjectsMar Surf Center of Somo / Javier Romero Soto ArquitectoSelected Projects Share CopyAbout this officeELASTICOSPA+3OfficeFollow#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesBudoiaHousesItalyPublished on June 04, 2013Cite: “Yuppie Ranch House + Barn / ELASTICOSPA + 3” 04 Jun 2013. ArchDaily. Accessed 11 Jun 2021.
Mandanila House / Somia DesignSave this projectSaveMandanila House / Somia Design Projects Houses “COPY” Indonesia ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/885436/mandanila-house-somia-design Clipboard Year: Gerry Surbakti Architects: Somia Design Area Area of this architecture project 2017 Area: 154 m² Year Completion year of this architecture project CopyHouses, Renovation•South Denpasar, Indonesia Lead Architects: Save this picture!© Mario WibowoRecommended ProductsEnclosures / Double Skin FacadesFranken-SchotterFacade System – LINEAWoodBlumer LehmannFree Form Structures for Wood ProjectsEnclosures / Double Skin FacadesAlucoilStructural Honeycomb Panels – LarcoreWindowsAir-LuxSliding Window – CurvedText description provided by the architects. This renovated house sits on a 320 square meters lot at a small residential complex in Denpasar, Bali. Located in front of an elementary school where noise and school activities indirectly impact the house during the daytime. This house was initially a kitchen and garage of one big house that used to produce foods for a catering business. Afterwards, the owner decided to split the house into two separate houses. At that time the house was quite large, yet suffering from the minimum penetration of natural light and its conditional hodgepodge finishes. Talking about the brief, client desires a tropical Balinese house that will suit the casual lifestyle of the family. Those issues challenge the architect to solve this renovation project. How does the architect transform a service area into a whole new livable urban house?Save this picture!SectionSave this picture!© Mario WibowoSave this picture!Render InteriorIt was clear that the most important change would be the reorganization of the plan. The new plan provides 3 bedrooms with one bathroom for each room. The architect makes sure every room obtain plenty of natural daylight. “embracing the natural habit of tropical living – we create warmth with a seamless flow between inside and out, in a minimalistic way”. Over than 4 meters high lattice wall covers up the house in order to reduce the noise that comes from the school. In addition to that, it conceals the residents’ activities inside the house. Made of a thousand modular arranged rosters (cement block), this wall also appears as the icon of the house. A combination of loose pebbles and wooden deck lead us to the entrance. Passing through a large pivot door, we are being surprised by a small garden that lies behind the main door so that we can barely know which area belongs to the outside and the inside. There is no exact border between one another.Save this picture!© Mario WibowoNot likely similar to any other common houses, this house doesn’t come with a guest room as we step into the house. The journey in this house starts with a hallway that can be used as a foyer to welcome the guests. At the end of the hallway, we are pleased by a feature wall made out of bricks which bring warmth into the house. As we enter the main room, there is a living room, dining and working space held in one space without any divider wall. Here all the activities of the family member could be done together in one place. This kind of open plan—layout makes this space become more spacious. The brick wall becomes the background for the room and it brings warmth and homey feel.Save this picture!Floor PlanThis renovation project was difficult yet challenging for the architect. It is because there were structure limitations that architect couldn’t get rid of and that is the reason why we could see a wall in the middle of the main room. It happened to be a structural column which then transformed nicely into a decorative divider wall between daybed and dining area. The aim was to create an open space where the activities blend into one another. For instance, daddy can work on the working desk, mommy does her duty on the pantry while the kids can play on the daybed and they all still able to interact freely in this room. To solve the lack of daylight issue, the architect put a garden alongside the house as a wind and light tunnel. During the day, there are plenty of light coming through the rooms. It also brings a ‘breathing space’ for the house.Save this picture!© Mario WibowoProject gallerySee allShow lessPsychiatric Center / Vaillo + Irigaray Architects + Galar + VélazSelected ProjectsTeatr na Podoli / Drozdov & PartnersSelected Projects Share “COPY” Mandanila House / Somia Design Save this picture!© Mario Wibowo+ 15 Share Photographs ArchDaily Manufacturers: Toto, Dekson, Modena Appliances ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/885436/mandanila-house-somia-design Clipboard Photographs: Mario Wibowo Manufacturers Brands with products used in this architecture project CopyAbout this officeSomia DesignOfficeFollowProductsWoodConcreteBrick#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesRefurbishmentRenovationSouth DenpasarIndonesiaPublished on December 15, 2017Cite: “Mandanila House / Somia Design” 15 Dec 2017. ArchDaily. Accessed 11 Jun 2021.
One year ago, from March 2 through 21, this city was gripped by acts of terror when Mark Anthony Conditt, who is white, left cardboard packages armed to explode in homes and yards. At the end of it all, two people were killed and five injured. Although corporate media and law officials hesitated to call the acts terrorist or racist, Austin’s African-American and Latinx communities bore the brunt of Conditt’s aggression. The two people killed were Black. The explosions most affected East Austin, which has historically been home to Austin’s Mexican and African-American communities and the center of the 1960s-1970s Black and Chicano liberation movements. Today, with the gentrifying boom that has destroyed communities of color around the country, and indeed the world, people of color in East Austin are either forced to move out or are struggling hard to stay. Never forget: Say their namesThe first to die was Anthony Stephan House, 39, after picking up the package Conditt left on his front porch on March 2, 2018. Anthony, according to relatives and friends from his alma mater, Texas State University, was a family man and a loving father to his 8-year-old daughter. He was helping his daughter get ready for school before opening the package that killed him.On March 12, two more bombs left 17-year-old Draylen Mason dead and another injured. Draylen brought the package into the kitchen where it then exploded, killing him and injuring his mother. According to Facebook posts and the press, Draylen was a gifted student and bass player. He had been accepted into the selective Butler School of Music at the University of Texas at Austin. Students spoke of his warmth and generosity at a memorial a year later. Also on March 12, a 75-year-old Mexican-American woman was harmed by potentially fatal wounds after handling a package. Esperanza Herrera lives 15 minutes from the Mason family with her 93-year-old mother, who was also at home when the bomb exploded. On March 18, the fourth explosion slightly injured two white men as they rode bikes in a predominantly white area. That explosion was triggered by a tripwire attached to a For Sale sign.Two days later, a fifth explosion occurred in a FedEx sorting facility and injured one worker. Finally, Conditt was identified by law officials on March 21. He killed himself in his car with his own explosives. Liberal Austin myth also explodes Austin is often painted as ultra-liberal, as “other” than the rest of the state. Often called the “Berkeley” of Texas, it has become the “it” city, working hard to distance itself from racist, reactionary, rural Texas.But when Conditt dropped his packages, not only did his bombs explode, but so too did the liberal façade of Austin. Like the rest of Texas, Austin produces haters and white supremacists.The first myth to explode was that the serial bombings were not racist or terrorist. The Black and Brown communities in Austin felt otherwise. How can any other conclusion be made in this violent society, and especially in the context of a white supremacist presidency? This country was founded on racism and terror. Austin itself is named after settler and colonizer Stephen F. Austin. Texas, like other parts of the Southwest, was criminally stolen from Mexico. One of the most egregious things during the bombings was a “Wanted” poster, issued by the FBI before Conditt’s identification, which exhibited the pictures of the two Black victims. Outraged comments on Facebook pointed out that it made House and Mason look like the perpetrators.Furthermore, police initially treated House as the criminal. They said the bomb might have been self-inflicted, and they went to his neighbors’ homes, implying that the explosion was the result of a drug deal gone bad! Yet, as the media stated, “House and the slain teenager are relatives of prominent members of Austin’s African-American community.” “House was the stepson of Freddie Dixon, a former pastor at a historic black church in Austin,” according to the March 12, 2018, Washington Post. Austin NAACP president Nelson Linder said that House graciously maintained the organization’s website.Austin spurs growth. And racistsAustin’s population growth is among the highest in the U.S., according to several government reports. A new forecast says the region’s population will swell by 2.6 percent this year. More than 150 people move to Austin every day, many from California. It behooves Austin’s ruling class to promote the view that Austin is “cool” or “weird.” It aims to attract more and more high-tech or Amazon-like industries that use a liberal façade to destroy the planet and exploit workers.This growth has not just made the traffic on Interstate 35 a nightmare; it has made it a nightmare for Austin’s communities of color as well. But many white workers also find it hard to afford adequate housing. Of Austin’s population growth of 50,000 people in 2019, more than 13,000 will be millennials, according to real estate advisory company Marcus & Millichap.Most millennials have many reasons to oppose gentrification, racism, etc. No matter their income, they are aware that the Earth they have inherited is in crisis. Many will stand with the victims of Conditt’s bombings and help to smash the system that produced him. Austin’s ruling class, just like Trump, knows that interest in socialism is about to explode. Their days are numbered. 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William Konighttps://www.tcu360.com/author/william-konig/ World Oceans Day shines spotlight on marine plastic pollution Facebook Previous articleVolleyball bounces back Saturday to earn two winsNext articleStephen Kings “It” provides unexpected humor and emotion William Konig RELATED ARTICLESMORE FROM AUTHOR William Konig Linkedin Review: ‘Black Panther’ delivered even with high expectations Review: ‘Ready Player One’ is a ton of fun + posts Linkedin William Konighttps://www.tcu360.com/author/william-konig/ Twitter Facebook Welcome TCU Class of 2025 William Konighttps://www.tcu360.com/author/william-konig/ Photo Credit: Will Konig TCU places second in the National Student Advertising Competition, the highest in school history The YAF have been putting this memorial together for five years now.Mallory Stender, Co-President of YAF, said that no matter your beliefs you can get behind honoring the lives lost during the attack.Some students around campus were viewing the memorial as they walked by to class.Sally Stockett, a first-year speech-language pathology major, talked about how this day is emotional for her because she lost a family friend in the terror attack sixteen years ago.“I’m really glad TCU is doing something about it to have students care,” she said. “We all probably have some kind of connection to 9/11 and we were all alive for it, so this means a lot to me.The 2,977 small American flags represented lives lost in the attack.Some students expressed support for the memorial.“It kind of gives us a visual on how many people actually lost their lives and kinda puts it in perspective,” said Taylor Dye, a first-year strategic communication major. “We’re really fortunate to have the freedom that we do and that it’s important to remember the lives that were lost.”Others were surprised, but still grateful that the memorial was set up.“I didn’t really think or know that TCU was going to do something like this,” said Hayden Camp, a first-year pre-business major. “It is really cool to see that it affects everyone and that everyone does care about it.” Review: ‘Love, Simon’ is actually a cute romantic comedy William Konighttps://www.tcu360.com/author/william-konig/ ReddIt Review: predictions on who will win the Oscar vs. who should Twitter printTCU Young Americans for Freedom (YAF) put down 2,977 flags Monday morning to commemorate the attacks of 9/11.The YAF took to Instagram to thanks those who helped them put the memorial together. ReddIt
Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Full Name* Email Address* condo market The problems at 125 Greenwich predated the pandemic. Last summer, the developers defaulted on loan payments and construction bills, triggering a foreclosure action from United Overseas Bank, which subsequently sold the debt to investment firm BH3.After the developers defaulted, Nicholas Mastroianni, whose EB-5 fund had $194 million in the project, enlisted brokers from Newmark Knight Frank to market the debt in a UCC foreclosure auction, but one never materialized. Mastroianni declined to comment on why.In February, Fortress Investment Group purchased the tower’s defaulted mortgage from BH3 for about $230 million, inheriting the foreclosure action. A person familiar with the development said they anticipate Fortress will “continue on with the foreclosure and potentially work out a deal with the sponsors as well.” Fortress declined to comment.Patrick Fitzmaurice, a partner at law firm Pillsbury Winthrop Shaw Pittman who represents lenders and creditors but is not involved at 125 Greenwich, said it’s not unusual for a development to have a UCC foreclosure and a foreclosure lawsuit levied against it at the same time; different lenders have different priorities and timelines.Fitzmaurice said lenders in Fortress’ position can “continue negotiating with the borrower and any other interested party” until the end of the foreclosure process, and there’s “always the possibility of a deal.”But new financing for the development remains elusive. Talks with Silverstein Capital Partners last year about a possible capital infusion or recapitalization collapsed because the parties could not reach an agreement on terms, according to a person familiar with the matter.Ran Eliasaf, managing partner of Northwind Group, which recently launched a debt fund that offers condo inventory loans and rescue deals, said the firm received a package of materials about financing 125 Greenwich that was circulating last year, but decided against it because “it doesn’t meet our fund’s criteria.”“We always felt that the luxury market was saturated and there’s not enough buyers out there for so much supply,” Eliasaf said.Bizzi and New Valley declined to comment, but a recent amendment to 125 Greenwich’s offering plan says the sponsors are still “in active negotiations” for new financing.Going once, going twiceThe tower at 125 Greenwich is far from alone in its woes. For several months, Ceruzzi Properties has been looking to refinance, sell or do bulk deals at its Hayworth condominium at 1289 Lexington Avenue, which has struggled to move units. In September, Newmark Knight Frank started shopping the junior mezzanine positions of four HFZ Capital condos. And in October, JLL began marketing a UCC foreclosure sale on Wonder Works Construction’s Vitre condo at 302 East 96th Street, where 40 of 48 units remain unsold after two years on the market.“For the first few months of the pandemic and after things shut down, what you saw was lenders really working with borrowers and either deferring interest, deferring principal, [or] deferring principal and interest,” said Michael Lefkowitz of law firm Rosenberg & Estis, who represents real estate clients in both the equity and the debt spaces. Now, he said, “I think you’re seeing less cooperation in that regard.”“[Lenders] understand there’s a bigger problem here,” Eliasaf said. “It’s not like the developers did something wrong, necessarily, and it’s not like the banks will get the keys and do a better job selling.”Still, there are limits. “You can’t work around a basis issue,” he said, referring to the costs developers and lenders put into projects. “If your basis is $2,600 a foot and you’ll sell units at $2,000 a foot, your equity is wiped.”Fitzmaurice said that while he has been hearing a lot of talk from lenders about pursuing foreclosures, he hasn’t seen much action so far.“I think there’s a few different reasons for that,” he said. “Some of it is the nature of the pandemic and the uncertainty that exists with when values are going to stabilize, and where they’re going to stabilize, and how long it’s going to take.”There are also logistical considerations: Since the pandemic hit, New York state has put restrictions on initiating foreclosures and there have been several complaints filed by debtors facing UCC foreclosure auctions. In one such case, a New York judge delayed an auction from going forward because it would not be “commercially reasonable” to do so.Fitzmaurice predicts the market will probably see more foreclosures in the next six months or so.“There are defaults all over the place,” he said. “Eventually, there just has to be [foreclosure] activity when you have those circumstances. Particularly where nobody knows when it’s going to be better.”Still, whether because of pragmatism or bravado, some in the industry insist the crisis has separated the wheat from the chaff: If investors are looking for distressed opportunities, they won’t find those in premium buildings with stable finances, but in developments with too much debt, unrealistic pricing or crummy designs.“As a developer and as a native New Yorker, it’s tough to see the challenges in the market before coronavirus and now after coronavirus, but in some ways it’s one of those things where the cream rises to the top,” said Evan Stein, president of development firm J.D. Carlisle, which is currently building a 199-unit condo, Madison House, at 15 East 30th Street in NoMad.To Kliegerman, the situation feels a lot like 2008, when the financial crisis left many developers similarly exposed. “Everyone realized that the emperor didn’t have clothes on in many of these projects,” he said.Both Lefkowitz and Fitzmaurice anticipate there could be deeper distress this time around, in part because there are more unsold apartments on the market.Though luxury inventory right now looks similar to what was on the market during the financial crisis — 1,600 listings in the third quarter this year versus 1,623 in the third quarter of 2008 — there is much more high-end “shadow inventory” today. Appraiser Jonathan Miller of Miller Samuel predicts the current crop of unsold new-development units across Manhattan will take 8.7 years to sell, compared to 3.5 years in 2008.Northwind’s Eliasaf argues that the outlook this time around is more optimistic. During the pandemic, the stock market has performed well, he said, and investors have cash to spend. “I think it’s going to be very specific,” he said. “You’ll have specific buildings, specific properties, specific owners that will have serious issues, and you’ll have others whose portfolios are more well-balanced that will be okay.”The New York puzzleWhile many of the condo market’s pain points manifested before the pandemic, what happens going forward will depend on New York City’s broader recovery. Schools have largely reopened, and some of the wealthy residents who retreated to the suburbs have returned. But unemployment remains twice as high as in the rest of the country, and the vast majority of office workers are still working from home.“It’s all part of the same puzzle,” said Lefkowitz. “If we were to have a second wave and we have a slower return to the office, a slower return to normal activity, this will likely result in increased activity on foreclosure.”In the once-bustling Financial District, 125 Greenwich Street remains in limbo. The building, which topped out last March, was just 68 percent complete as of December, according to a financing prospectus obtained by The Real Deal. No listings are currently on the market.“I think it was always an ambitious project, both construction-wise and pricing-wise, for that neighborhood,” said Eliasaf.The condo is now expected to begin its first year of operation in January, according to the latest amendment to its offering plan. Whether that happens, however, is as uncertain as everything else.In the meantime, there are plenty of investors, both private and institutional, looking for opportunity. The appeal of a distressed condo note is the value investors believe they’re getting, according to Lefkowitz.But what is value in such a prolonged crisis, with normal life upended and the real estate market likely scrambled for years to come? “That’s the big question,” he said.Contact Sylvia Varnham O’Regan Message* Tags Share via Shortlink 125 Greenwich Street (Photos by Sylvia Varnham O’Regan)A partially built condominium in Manhattan’s Financial District cuts a melancholy figure on an overcast Saturday in August. The front of the building, an exposed checkerboard of unfinished apartments, stretches 912 feet upward into a fog of gray cloud. Two security guards mill about on the deserted pavement opposite. Construction at 125 Greenwich Street has been stalled for months, and the developers, a group that includes Davide Bizzi’s Bizzi & Partners and Howard Lorber’s New Valley, are on a mission to see it over the finish line. That may be tricky: The project is deep in debt, and two foreclosure actions filed before the pandemic hang over it. Sales were expected to begin closing by June 30. When that didn’t happen, Michael Feldman of Romer Debbas said, four of his clients who had bought units in the building took the developers up on an offer to rescind their contracts.The luxury development, with 273 units priced between $1 million and $6 million, is one of many in Manhattan that launched sales after the heady days of the condo boom passed, adding to a glut of high-end properties across the city.ADVERTISEMENTThough Manhattan’s depleted luxury market is beginning to flicker with small bursts of activity, it may not be enough to save some projects from becoming distressed investment opportunities. That’s especially true for projects that struggled before the economic crisis. “The pandemic really heightened awareness, because lenders started looking at things a little bit more closely,” said Stephen Kliegerman, president of Brown Harris Stevens Development Marketing. “Projects that were already thin or even underwater, pre-Covid, all of a sudden the fire alarm went off and people started to really worry. If they weren’t doing well pre-Covid, how are they going to do coming out of Covid?”Deals on iceWhen the pandemic froze Manhattan’s luxury market in March, it did not discriminate. Deals for properties priced above $4 million fell across the borough to an average of just four per week, according to Donna Olshan of Olshan Realty, who tracks luxury sales. After the state allowed brokers to start showing homes again in June, luxury deals picked up to an average of 11 per week — still far from a total recovery and well below the average of 18 in 2019. The total number of luxury contracts signed in Manhattan between January and the first week of October fell 40 percent from the same period last year.The climate has forced embattled developers to consider their options, which include securing more financing, selling units to bulk buyers and bringing in new partners. But with so much uncertainty, lenders have further retreated from high-end condos, driving up borrowing costs. Read moreDevelopers, investors hustle for bulk condo dealsNot your father’s distress: Down market could be boon or bust for opportunistsSizing up Manhattan’s condo crunch following a decade of boom and bust
Full Name* (iStock/Illustration by Alexis Manrodt for The Real Deal)Home prices continue to soar to new heights.The S&P CoreLogic Case-Shiller U.S. National Home Price Index rose 12 percent year-over-year in February. That’s up from 11.2 percent in January, when the monthly index grew at the best rate in 14 years and 12 months, just shy of 15 years.“Strong home price gains continued,” said Craig Lazzara, managing director and global head of index investment strategy at S&P Dow Jones Indices, in a statement. “[The] 12 percent gain is the highest recorded since February 2006, exactly 15 years ago, and lies comfortably in the top decile of historical performance.”The national index is up 29.4 percent from the July 2006 peak, he said.ADVERTISEMENTRead moreUS home price growth hits 15-year highHome prices across globe hit records, prompting worries of bubble Tags Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Message* The national trend played out in all 20 cities (minus Detroit) tracked by the indices, which posted an 11.9 percent year-over-year increase, up from 11.1 percent in the prior month. The 10-city index was up 11.7 percent year-over-year, compared to 10.9 percent the month before. The metro areas that saw the largest price gains continued to be Phoenix, Seattle and San Diego.The 20-city index was up 19.1 percent from its July 2006 peak and the 10-city index was up 14.7 percent.Lazzara said the data is “consistent” with the hypothesis that the pandemic has encouraged potential buyers to move from urban apartments to suburban homes. He said it’s too early to say whether the pandemic changed buyers’ preferences in the long term or prompted buyers to move out of cities years ahead of schedule.Though existing home sales tapered off in February and March, new home sales continue to surge and housing starts jumped 19 percent in March.Contact Erin Hudson Share via Shortlink Email Address* Housing MarketResidential Real Estate
Written by Tags: Academics/Alexia Petrovic/Brianna Chisholm/Jena Cheng/Margo Pletcher/Taylor Calton/Utah Women’s Tennis/Whitney Turley FacebookTwitterLinkedInEmailSALT LAKE CITY-Tuesday, six University of Utah women’s tennis student-athletes were named to the Pac-12’s All-Academic teams. This commemorates the third straight season the Utes have had four or more players earn all-academic squad nods.Junior Brianna Chisholm of Kaysville, Utah, senior Jena Cheng of Edmonton, Alberta, and senior Alexia Petrovic of Burr Ridge, Ill. headline the Pac-12 All-Academic first team list for the Utes. Utah was the only Pac-12 school to receive three first-team honors. Other Utes also scored highly on All-Academic Pac-12 squads.Earning second-team All-Academic conference honors for the Utes was sophomore Whitney Turley of Kaysville, Utah. Additionally, junior Taylor Calton of Highland, Utah and senior Margo Pletcher of Laguna Niguel, Calif. were named to the honorable mention list for the Pac-12.This was Cheng’s third straight season earning all-first team conference honors and she is one of 13 Utes in program history to make the all-Pac-12 first team for academics. May 29, 2018 /Sports News – Local Utah Women’s Tennis Players Honored For Making the Grade Brad James