LaGuardia Marriott and development site combo sell for $100M

first_imgASAP Holdings CEO Frank Yuan and LaGuardia MarriottNew York LaGuardia Airport Marriott and a massive development site have sold for a combined $103 million.The 443-key Marriott at 102-05 Ditmars Boulevard sold for $86.6 million, and the 1.5-acre development site — which could hold a 750,000-square-foot project — sold for $17 million, according to property records filed with the city on Friday. The sale closed last month.The buyer, California-based private equity firm ASAP Holdings, announced the deal on its website without a price, saying it plans housing and a community center on the development site. The firm also explained its hotel purchase, which comes as the larger market continues to endure heavy turbulence.ADVERTISEMENTASAP said it believes “in this hotel and its continued duration as a market leader in the LaGuardia area.” The property is directly across from the airport, separated by the Grand Central Parkway. ASAP CEO Frank Yuan was not immediately available for comment.The seller was Rubicon Companies, which listed the vacant parcel for sale in 2019.JLL’s KC Patel, Kevin Davis and Nikhil Chuchra represented the seller. Rubicon purchased the 224,000-square-foot Marriott in East Elmhurst for $21.5 million in 2013. It poured another $30 million into renovations in 2018, according to JLL.Rubicon did not immediately respond to a request for comment.Since 2016, LaGuardia Airport has been undergoing an $8 billion redevelopment project, adding six new concourses and 72 new gates, along with new shopping and dining areas. As part of the program, a new arrival and departure hall at Terminal B opened in June.Read moreMassive development site by LaGuardia hits the marketJLL makes cuts to I-sales teamGerman lender forecloses on East Side Marriott hotel Share via Shortlink Message* Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Commercial Real EstateHotel Marketla guardia airportLaGuardiaMarriott Contact Akiko Matsuda Email Address* Full Name* Tagslast_img read more

Pandemic response planning: It’s more important than you think

first_img 26SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,James Green James Green leads the business continuity program at PSCU. He is passionate about life safety and helps credit unions understand the importance of business continuity not just during an emergency, … Web: pscu.com Details At this point, you have probably seen and heard quite a bit about the Zika virus. The Centers for Disease Control and Prevention (CDC) has now reported travel-associated cases of the Zika virus in more than 20 U.S. states. Even so, is it really something with which to concern yourself?In today’s global environment, having a high traffic, public-facing business like a credit union branch can bring global problems to your door faster than you think. So whether it is Zika or the next virus we will inevitably need to confront, having a pandemic response plan in place that benefits both your credit union and your members is vitally important.It’s About More Than Just PandemicsOften times, the resistance to creating a pandemic response plan is the feeling that there is an unlikely possibility that the plan will ever need to be enacted. But in actuality, a strong response plan can be utilized every year. The National Institutes of Health reports that nearly 111 million workdays are lost each year due to the flu alone, costing businesses roughly $7 billion in lost productivity. Every year. Just think about how many sick days your employees have already used in January and February.The first step in most pandemic plans is communications to employees about how a particular virus is spread. If you already have this strategy in place as part of your pandemic plan, why not use it every winter to help your employees cut down on contracting and spreading the common cold? The CDC even has flyers that businesses can print for free and put in bathrooms or other high traffic areas to promote employee awareness. Recouping part of this lost productivity provides a high return to your credit union with very little investment.Preventing a Business Continuity CrisisBoth the World Health Organization (WHO) and CDC use a series of stages to define the lifecycle of a pandemic outbreak. Most organizations with pandemic response plans currently mirror these stages, outlining escalating steps as the outbreak worsens:Awareness posters and emailsHand sanitizer stations placed throughout the facilityIncreased frequency of cleaning bathrooms, break rooms and common areasRequiring employees who exhibit signs of the virus to be sent home and not allowed to return to work until receiving proof from a medical professional that they are healthyRestricting access by visitors and guests to your propertyThese steps are important and have their place in a solid pandemic response plan, but they all focus on one thing: preventing the spread of the virus inside your organization. The challenge for most businesses – credit unions included – is that at the end of the day, we go home, go to the grocery store, go to our kids’ schools – we are out and about in the community. As this happens, employees may get sick. Based on the steps outlined above, these employees would not be allowed back in the office. And this is the key area that most pandemic plans lack: how to deal with increasing absenteeism.As a virus makes its way through the community, absenteeism rates are likely to rise. Maybe you can handle 5-10% of your workforce being unavailable, but at some point you will hit a number that puts your ability to sustain normal business operations in jeopardy. You now have a business continuity crisis on your hands.To prevent this from happening, you should first and foremost make sure your pandemic response plan and business continuity plan are not standalone documents. As the WHO or CDC determines that an outbreak is increasing in severity in your area, your pandemic response plan should have a set, pre-defined trigger that invokes your business continuity plan. What steps does your business continuity plan outline in case of a disaster? Consider having employees work from home, move back office processes to other out-of-area offices, and have vendors and partners pick up non-member-facing work temporarily. Implement all of the things you would do if you were to declare a disaster early on in response to a pandemic incident.Being proactive in preparing for high absenteeism will help ensure that you are able to contain the situation as just a pandemic, and not a business continuity event that could jeopardize your business.last_img read more

Industrial Gold Coast house takes on glamorous renovation

first_img50 The Promenade, Isle of Capri.INSPIRED by old cotton mills in England, Homeowners Paul and Lynn Maddison have proven that industrial design can be just as glamorous. The couple said the idea for the bold and beautiful design came from converting old cotton mills into trendy apartments in the late 80s. More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach North4 hours ago02:37International architect Desmond Brooks selling luxury beach villa1 day ago50 The Promenade, Isle Of Capri.“We are originally from Manchester and after we did the cotton mill project we have been obsessed with playing with old and new concepts since,” Mrs Maddison said.The English expats who run PM Concepts said the renovation at 50 The Promenade took them eight months. 50 The Promenade, Isle of Capri.Mrs Mattison said she wanted the house to have a sense of age combined with New York loft style but said it was difficult to buy a property with heritage on the Gold Coast. “We found reclaimed bricks from Melbourne that still had original branding on them,” she said.last_img read more

Bulldogs Split Games Against Wildcats

first_imgThe 7th Grade Batesville Bulldog Basketball team defeated the Franklin County Wildcats by a score of 53-33.  Leading in scoring for Batesville was Conner Drake with 15, followed by Sam Johnson with 11, Chris Lewis with 7, Brendan Heiser added 6, and jack Grunkemeyer, Noah Pierson, and Gus Prickel all added 4.  Defensively, Carter Bohman and Chris Tillman had some good minutes.  The Bulldogs are now 3-0 on the season.The 8th Grade Boys Basketball Team dropped their first game of the season against Franklin County by a score of 53-19. The Bulldogs were haunted by foul trouble and turnovers all night struggling to get going offensively. Bryson Bonelli led the team offensively with 7 points, followed by Cole Pride (4), Grant Peters (3), Jackson Tracy (2), Max Baumer (2), and Jaden Smith (1). The Bulldogs will now take a 2-1 record into their next game at home against Connersville on Monday, November, 26 at 6:00 pm.Courtesy of Bulldogs Coach Ben Pierson.last_img read more