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No Amazon, no problem: TF Cornerstone plans 1,400 apartments in LIC

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first_imgShare via Shortlink TagsAmazon HQ2Commercial Real EstateDevelopmentlong island citytf cornerstone Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlinkcenter_img TF Cornerstone president Fredrick Elghanayan and an aerial of a Long Island City site where the firm plans to build apartment towers (Credit: TF Cornerstone and Google Maps)Opponents kept Amazon out of Long Island City, fearing it would bring thousands of millennials to the area. They might be coming anyway.TF Cornerstone has filed an application to build two massive apartment buildings in Long Island City: a 575-unit, 34-story apartment building at 55-01 Second Street and an 812-unit, 39-story building at 2-10 54th Avenue.The buildings will total 1.43 million square feet, according to filings with the Department of Buildings. SLCE is the architect of record.TF Cornerstone, led by the Elghanayan family, bought the site in November 2018 for $285 million. The development group purchased the site just days before Amazon announced its selection of Long Island City for its second headquarters, only to cancel the project three months later on a Valentine’s Day that shook New York politics and real estate.TF Cornerstone is also building apartments en masse in Hunters Point South, including a 1,194-unit project at 52-41 Center Boulevard and at 52-03 Center Boulevard where 60 percent of the units are set aside as affordable housing, according to Multi-Housing News. Construction started in April 2019.The area, previously known as Queens West, is in the midst of a development boom. Gotham Organization and nonprofit RiseBoro Community Partnership are also building two towers with more than 1,000 residential units there.TF Cornerstone did not immediately return a request for comment.last_img read more

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Compass’ costs to scale, LinkedIn and Zynga founders to take Hippo public

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first_img Share via Shortlink CoStar’s best just wasn’t good enoughCoStar’s fight for CoreLogic has ended in defeat. The bruised data giant, which spent the last few weeks trying to outbid Stone Point Capital and Insight Partners, withdrew its $7.35 billion offer, citing rising interest rates.But … CoStar’s retreat came just hours after news leaked that CoreLogic’s board believed CoStar’s offer wasn’t good enough.In February, CoreLogic struck a $6 billion deal with Stone Point and Insight. But CoStar swooped in with a $6.9 billion “superior” offer. On March 1, CoStar upped the offer by $450 million and gave CoreLogic 48 hours to decide.The rest, as they say, is history.Howard Lorber: Developer, investor and now VCBrokerage chief Howard Lorber is trying his hand at proptech investing through a new fund, New Valley Ventures.The fund is a subsidiary of Lorber’s Vector Group, which owns Douglas Elliman, and it will invest in early-stage proptech companies. Initial bets include a minority stake in Rechat, a CRM, and an investment in Camber Creek.New Valley Ventures will be spearheaded by Richard Lampen, a longtime Vector exec, along with Dan Sachar and David Ballard. Lampen declined to say how much capital the VC has to spend, but confirmed it will be funded by Vector.Small bytes?SmartRent, a startup that develops “smart home” hardware, raised $31M in strategic funding from investors including Lennar.?Ecomedes, which brings sustainable supplies to the construction business, raised a $3.25M seed round led by Microsoft’s M12.?Mortgage company Rocket Cos. surged 71 percent to $41.60 on March 2, after reddit user Wall Street Bets called out the stock.? JLL acquired a stake in Roofstock, a marketplace for single-family rentals.?Mosaic, a construction tech startup that turns blueprints into step-by-step plans, tapped Mervin Singson as CFO.? Realogy expanded its iBuying program RealSure to Atlanta.?Knock, which pre-funds mortgages to allow sellers to buy homes before selling their old ones, has expanded to 23 markets, including 11 since the start of 2021. It says it’s on track to hit 75 markets by 2023.⭐Elon Musk wants to build a dog-friendly city called Starbase in Texas. Click here to join the thousands of knowledgeable readers who subscribe to Future City.  Compass’ cost of doing businessAhead of its buzzed-about IPO, Compass offered investors a peek at its financials via an S-1 filed March 1.Highlights from the 263-page document include the fact that Compass took in $3.7 billion in revenue last year, four times its revenue of $884.7 million in 2018. The tech-focused resi brokerage also lost $270.2 million in 2020, down from $388 million in 2019.But one key takeaway is how much Compass spent to grow to its current size: 19,000 agents with $151.7 billion in sales last year.Since 2018, it’s spent more than $300 million to buy residential firms and tech. Here’s a closer look at where it’s invested the most:ADVERTISEMENT? $83.3 million for Pacific Union International, a San Francisco firm with 1,700 agents and $14 billion in sales? $70 million for Modus, a title and escrow startup? $52.2 million for KVS Title, a title company in Washington, D.C.? $26.1 million for Contactually, a popular customer relationship manager? $22 million for Stribling (a NYC brokerage with 270 agents and $1.62 billion in sell-side sales), Alain Pinel Realtors (a San Francisco firm with 1,300 agents) and Detectica (an AI startup)? $20.5 million for firms including Platinum Drive Realty (a 100-agent firm in New York), Conlon Real Estate (with 200 agents in Chicago) and Avenue Properties (with 110 agents in Seattle)? $18.9 million for Paragon Real Estate, a San Francisco firm with 225 agents and $2.3 billion in sales? $6 million for Lila Delman Real Estate, a 120-agent luxury firm in Rhode Island? $2 million for Bold New York, a 120-agent rental-focused brokerage“$52 million is a lot of money, and CoStar shareholders and customers should be asking themselves, who ultimately will be stuck with that bill?”— RentPath CEO Dhiren Fonseca, on the ruling that CoStar must pay a break-up fee after its failed RentPath deal Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Opening more doorsWith few homes on the market to buy, Opendoor has a new target: home buyers.The company — whose core business is buying and selling homes — launched a program that allows buyers to make cash offers backed by Opendoor. “The market conditions right now are screaming for this,” Tom Willerer, chief product officer, told Bloomberg News.Opendoor is already the dominant player in iBuying, and it went public last year after merging with a blank-check company backed by investor Chamath Palihapitiya.In its first earnings call as a public company, Opendoor reported a 45 percent drop in revenue that it attributed to its pause in home-buying in the early months of the pandemic.The company generated $2.6 billion in revenue last year, compared to $4.7 billion in 2019. It lost $286.8 million, compared to a loss of $339.2 million a year earlier.The real reason for Doma’s $3B SPAC dealAfter upending the archaic title insurance industry, Doma plans to pursue home appraisals, warranties and other “high-friction” components of buying a home.The startup, formerly States Title, struck a deal with Mark Ein’s Capitol Investment Corp., last week. The deal values Doma at $3 billion (up from $623 million in May) and will give the startup $510 million in cash proceeds.That’s where it gets interesting.In an investor call, Capitol said it underwrote the deal based on Doma’s existing business.In 2020, Doma collected $190 million in fees, and it projected that number will rise to $464 million by 2023. But CEO Max Simkoff said home appraisals and warranties are next on his list.The pandemic accelerated demand for digital closings, he said. “Everything sped up 10 years into the future, overnight.”And … about Hippo’s $5B IPOHome insurance startup Hippo has scored the ultimate umbrella policy.The six-year-old company is set to go public by merging with a blank-check company backed by LinkedIn co-founder Reid Hoffman and Zynga founder Mark Pincus. The deal values Hippo at $5 billion — nearly five times its valuation in July 2020. Hippo will get $1.2 billion in cash from the IPO.Based in Palo Alto, Hippo raised $350 million from Japanese insurance giant Mitsui Sumitomo in November. Other investors include Dragoneer, Ribbit Capital, Fifth Wall Ventures and Lennar.STAT OF THE WEEK-24.4%Opendoor’s stock since it began trading on Dec. 21, 2020last_img read more

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Mesozoic and cenozoic plutonic development in the Andes of central Chile (30°30′–32°30′S)

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first_imgMesozoic and Cenozoic granitoids of this segment of the Andes occur in three N/S-trending belts: western (WB), central (CB), and eastern (EB). The WB is formed by the Mincha and Illapel superunits; the CB includes the Cogotí superunit and the San Lorenzo unit; and the EB comprises the Río Grande and Río Chicharra superunits. KAr and RbSr ages show discrete ranges for each of the belts, with a pronounced eastward migration of magmatism with time: WB, Early Jurassic to Late Cretaceous; CB, early Tertiary; and EB, late Tertiary. The jumps in the sites of the magmatic belts correspond to essentially non-magmatic intervals (86–70 Ma and 39–26 Ma) and may relate to periods of subduction-erosion or changes in the dip angle of the subducted lithosphere. Periods of rapid migration correspond to specific changes in the Pacific Ocean spreading history. The superunits show relatively uniform major element oxide variation. The exceptions are the Limahuida granitoids which have characteristics of a confirm derivation of the parent magmas from the upper mantle with virtually no continental crustal involvment. This distinguishes the Mesozoic-Cenozoic granitoids from those of the Paleozoic belts of Chile, which have values systematically higher than 0.705.last_img read more

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Entanglement in man-made debris of Antarctic fur seals at Bird Island, South Georgia

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first_imgNeck collars of man-made marine debris were seen on 208 Antarctic fur seals (and removed from 170) during the 142 days of the 1988–1989 pup-rearing season at Bird Island, South Georgia. This represents at least 0.1% of the total Bird Island population and a minimum of 0.4% of animals in the best covered areas; a maximum value might approach 1%. Polypropylene straps (packaging bands) formed 59% of collars, nylon string (16%), fishing net (13%) and six other materials comprised the rest. Males accounted for 71% of entanglements, 88% of which were of young (1–4 yr old) animals; females accounted for 64% of animals older than this. Obvious physical injury was being caused to 30% of animals and only on 19% of animals was the collar loose enough potentially to come off. The magnitude of the problem at South Georgia is similar to that with northern fur seals at the Pribilof Islands, where a significant population decline has occurred concurrently. Antarctic fur seals are still increasing in numbers but stricter controls on the jettisoning of debris into the Southern Ocean ate needed if the entanglement problem is not to increase beyond the level of a potential threat.last_img read more

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Small-scale interactions between prions Pachyptila spp. and their zooplankton prey at an inshore site near Bird Island, South Georgia

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first_imgWe investigated the relationship between surface-foraging prions Pachyptila spp. and their zooplankton prey by comparing counts of foraging birds with near-surface concentrations of zooplankton from net samples. Zooplankton abundance was assessed by employing a new design of sampler that combined a frame net with a pump at the cod-end and which was deployed at the sea surface. Six transects using the sampler with concurrent bird observations were made over a short stretch of Stewart Strait near Bird Island, South Georgia. Concentrations of a variety of zooplankton species occurred patchily along each transect. Peak numbers of prions were recorded consistently towards the southern end of each transect. These peaks coincided with peaks in zooplankton numbers, but with different prey species predominant on different occasions. Comparison of the distribution of foraging and sitting birds with the presence or absence of zooplankton peaks, after pooling zooplankton species into 2 broad classes, showed that birds were consistently observed over copepod maxima, but were not found to be associated with aggregations of larger zooplankton more often than expected by chancelast_img read more

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Estimates of Southern Ocean primary production—constraints from predator carbon demand and nutrient drawdown

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first_imgIn view of the wide range of estimates for the total primary production for the Southern Ocean south of the Subantarctic Front—current estimates range from 1.2 to 3.5 Gtonne C year−1—we have examined two indirect methods for assessing primary production. First, we have estimated the primary production needed to sustain the carbon requirements of the endotherm top predators in the ecosystem. Estimation of the carbon requirements for crabeater seals of about 7 Mtonne C year−1 is extrapolated to a value for all endotherm predators of 15–30 Mtonne C year−1. Current data indicate that 70–80% of the diet of this suite of predators is zooplankton (predominantly the euphausiid krill), making for highly efficient transfer from primary production to top predators. Our best estimate of Southern Ocean primary production by this method is of the order of 1.7 Gtonne C year−1, or an averaged areal primary production of about 30–40 g C m−2 year−1. Our second approach is to estimate primary production from the drawdown of inorganic nutrients, based on the limited suite of studies from which an annual nutrient deficit can be calculated. Again, this indicates annual primary production of the order of 1.5 Gtonne. Although both methods have inherent uncertainties, taken together they provide a relatively robust constraint on annual primary production. For both methods to underestimate primary production by the 1–1.5 Gtonne C implied by the higher current estimates, carbon export from the Southern Ocean pelagic ecosystem would need to be much higher than is normally found in other oceans.last_img read more

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Short Note: On the age and relation between metamorphic gneisses and the Trinity Peninsula Group, Bowman Coast, Graham Land, Antarctica

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first_imgThe Trinity Peninsula Group (TPG) of northern Graham Land, a weakly metamorphosed thick sequence of predominantly quartz- and feldspar-rich greywacke, has tentatively been correlated with metasedimentary rocks exposed along the Bowman Coast of Graham Land (Stubbs 1968). The base of the TPG is not observed but the Bowman Coast rocks, here newly defined as the Bowman Coast Succession (BCS), is proximal to high-grade gneisses, which may represent the local basement. Recent geological mapping along the Bowman Coast has allowed a revision of the local geology (Fig. 1) and this note focuses on the relationship of the BCS with the adjacent gneisses.last_img

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Chemistry of the Antarctic boundary layer and the interface with snow: an overview of the CHABLIS campaign

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first_imgCHABLIS (Chemistry of the Antarctic Boundary Layer and the Interface with Snow) was a collaborative UK research project aimed at probing the detailed chemistry of the Antarctic boundary layer and the exchange of trace gases at the snow surface. The centre-piece to CHABLIS was the measurement campaign, conducted at the British Antarctic Survey station, Halley, in coastal Antarctica, from January 2004 through to February 2005. The campaign measurements covered an extremely wide range of species allowing investigations to be carried out within the broad context of boundary layer chemistry. Here we present an overview of the CHABLIS campaign. We provide details of the measurement location and introduce the Clean Air Sector Laboratory (CASLab) where the majority of the instruments were housed. We describe the meteorological conditions experienced during the campaign and present supporting chemical data, both of which provide a context within which to view the campaign results. Finally we provide a brief summary of highlights from the measurement campaign. Unexpectedly high halogen concentrations profoundly affect the chemistry of many species at Halley throughout the sunlit months, with a secondary role played by emissions from the snowpack. This overarching role for halogens in coastal Antarctic boundary layer chemistry was completely unanticipated, and the results have led to a step-change in our thinking and understanding.last_img read more

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Utah State Softball Announces Two New Assistants

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first_img Tags: Colorado Christian/Iowa Wesleyan/Jo Koons/Lassen CC/Laura Heberling/South Carolina-Beaufort Sand Sharks/Stanford/Steve Johnson/UNC Pembroke/USU Softball/Virginia Intermont/William Woods/Young Harris Written by Brad James June 28, 2018 /Sports News – Local Utah State Softball Announces Two New Assistants FacebookTwitterLinkedInEmailLOGAN, Utah-Thursday, Utah State head softball coach Steve Johnson announced the addition of Laura Heberling and Jo Koons to his staff.Heberling and Koons each have history with Johnson as they played for him at Division II North Carolina-Pembroke and Utah State respectively.Heberling will oversee the Aggies’ pitchers and catchers and comes to Logan from NAIA South Carolina-Beaufort, where she has been the Sand Sharks’ coach for the past five seasons.At the helm of USCB, Heberling went 177-92 (.658) and led her squad to the Sun Conference Tournament championship in 2013 and 2015 and was the 2015 Sun Conference coach of the year.Heberling also served as an assistant coach at Division III Iowa Wesleyan and as a graduate assistant at NAIA William Woods of Fulton, Mo.In her playing career, Heberling started at Division II Young Harris and then transferred to NAIA Division II Virginia Intermont before playing for Johnson at UNC Pembroke.Heberling has a bachelor’s degree in exercise and sport science from UNC Pembroke and a master’s in athletics/activities administration from William Woods.Koons returns to her alma mater to supervise the Aggies’ outfield and spent this past season as the head coach at Lassen CC of Susanville, Calif.During her season there, the Cougars went 19-18 and they led the Golden Valley Conference in stolen bases and triples.In 2017, Koons made her full-time coaching debut at Division II Colorado Christian, and in 2016, she was a volunteer assistant at Stanford. With the Cardinal, she worked with the outfielders and hitters and served as the travel coordinator and camp director.last_img read more

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Dixie Baseball Voted Second In 2020 RMAC Preseason Poll

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first_img FacebookTwitterLinkedInEmailST. GEORGE, Utah-Wednesday, Dixie State baseball was picked to finish second in the Rocky Mountain Athletic Conference preseason coaches poll.The Trailblazers are returning eight starting position players from last season’s 35-19 squad. Dixie State also returns two starting pitchers, 20 total letter-winners and six redshirts.2019 NCAA Division II national runner-up Colorado Mesa is the national runner-up after collecting nine out of a possible 10 first-place votes.Colorado School of Mines is slated to finish third, Colorado-Colorado Springs is projected to finish fourth and Metro State Denver is picked to finish fifth.Two-time Pacific West Conference coach of the year Chris Pfatenhauer is in his eighth season (239-125-1, .656) and he has never had a losing season at the helm of the Trailblazers’ program.Senior first baseman/outfielder/designated hitter Jake Engel is Dixie State’s leading returning starter.The native of Tucson, Ariz. amassed a .385 batting average and team bests in home runs (14) and RBI (52).Senior closer Brayden Bonner finished second in the RMAC with 8 saves and netted 41 strikeouts in 35.2 innings of work last season.The Trailblazers commence their 2020 season January 31-February 2 at Cal State-San Marcos. Written by Tags: Dixie State Baseball January 29, 2020 /Sports News – Local Dixie Baseball Voted Second In 2020 RMAC Preseason Poll Brad Jameslast_img read more

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