HomeNewsCrimeSuspect throws rock through window for unknown reasons May. 09, 2016 at 6:05 amCrimeSuspect throws rock through window for unknown reasonseditor5 years agocaliforniacity of santa monicacrimecrime in santa monicaCrime WatchhomelessLos AngelesNewsSanta Monicasanta monica californiaSanta Monica Crimesanta monica criminalssanta monica newssanta monica policevandalism ON APRIL 26 AT APPROXIMATELY 10:21 P.M.Officers responded to a radio call for service in the 1000 block of Palisades Beach Road for a vandalism. The suspect, Argelio Reyes, homeless, for unknown reasons threw a rock through the window of a residence. Reyes remained in the area and was contacted by officers. The estimated damage was approximately $1,500. The resident/victim was desirous of prosecution. The suspect was taken into custody and bail was set at $20,000.Note: Crime Watch is culled from reports provided by the Santa Monica Police Department. These are arrests only. All parties are innocent until proven guilty in a court of law.Tags :californiacity of santa monicacrimecrime in santa monicaCrime WatchhomelessLos AngelesNewsSanta Monicasanta monica californiaSanta Monica Crimesanta monica criminalssanta monica newssanta monica policevandalismshare on Facebookshare on Twitteradd a commentLetter: Partisan pandering, borkingLincoln teacher retiring after 23 yearsYou Might Also LikeBriefsLos Angeles Sheriff’s deputy accused of destroying evidence of 2019 assaultAssociated Press16 hours agoBriefsNewsBeach House Begins Community Re-Opening June 15Guest Author2 days agoBriefsNewsInput Invited for Marine Park Improvement ProjectsGuest Author2 days agoBriefsNewsPublic Health Emphasizes the Importance of Vaccinations as Distancing and Masking Guidelines Relax Next WeekGuest Author2 days agoBriefsNews“Righting Our Wrongs” performance on June 11Guest Author2 days agoBriefsNewsSEATTLE Feds plan to curtail West Coast salmon fishing to help orcasGuest Author2 days ago
Email Stay Connected with the Daily Roundup. Sign up for our newsletter and get the best of the Beacon delivered every day to your inbox. Gail Goodwin, a successful real estate developer and entrepreneur, gazed into the trees on Big Mountain a few years ago and had an idea. Her next project, on an undeveloped parcel of land originally owned by the family of Whitefish Mountain Resort cofounder Ed Schenck, would be different than all the others. It would be unique, enduring and lofty in the most literal sense.Goodwin couldn’t have predicted that within a year of opening her luxury treehouse accommodations, called Snow Bear Chalets, Time Magazine would name the rentals on its list of the World’s Greatest Places 2018, an honor bestowed on only 100 destinations across the globe.Dubbed the “world’s first slopeside, ski-in/ski-out luxury treehouse chalets,” the Ponderosa, Tamarack and Cedar chalets are perched 25 feet above the forest floor and situated directly adjacent to Chair 3 within sight of the Central Avenue terrain park, allowing chalet visitors to watch as skiers ply their winter trade, including the likes of Olympian Maggie Voisin, who frequents the terrain park on her home mountain.Voisin is also a fan of the chalets, having left a rave review in the guest book following a weeklong stay to wind down after the Olympics. Other glowing testimonials have come from the likes of Sir Richard Branson and actress Mariel Hemingway.While Goodwin is always pleased to see happy customers, the responses to the chalets are particularly meaningful, given the amount of creative energy, not to mention manpower and engineering expertise, devoted to developing an imaginative concept into a viable reality.Luxury abounds in the Cedar’s main level. Photo courtesy of Trevon Baker“We wanted to offer our guests not just a great property in the best location, but a complete, unique experience that they can’t find anywhere else,” Goodwin said.The inspiration for Snow Bear Chalets is rooted in Goodwin’s childhood in Pennsylvania during the 1960s, when her father, a general contractor, helped Goodwin and her siblings build a rough treehouse out of scrap lumber in an oak tree near their house.“It was a place without limitations where my imagination could run free,” Goodwin said. “If I wanted it to be a rocket ship, a castle or a mansion, in my mind, it was. As a child in that treehouse, nothing was impossible.”Through decades of success in the real estate development industry, Goodwin kept that childhood treehouse in the back of her mind and finally decided to build one.“At some point in our lives, I think we’ve all dreamed of living in a storybook treehouse,” she said.Visitors can relax in their own private hot tub after a long day of skiing. Photo courtesy of Max ElmanThe trick was finding a piece of property that would be ideally located and suitable for building a decidedly non-traditional structure on it. After fruitlessly searching for months, Goodwin came across an un-zoned parcel on Big Mountain. The family of Schenck, the resort’s cofounder, had owned the land but never developed it. Since it was un-zoned, she was free to pursue her treehouse ambitions, literally feet away from the resort’s slopes.“We’re so grateful to have found this parcel, as we believe it’s the best location on the mountain,” Goodwin said.And so her dream project was launched, with Goodwin committed to building something that would honor Schenck’s legacy. Goodwin drew up original plans and then hired a local draftsman to complete drawings for the chalets. As the project moved forward, Goodwin later enlisted Malmquist Construction to tackle the complicated logistics of constructing structures 25 feet in the air.The chalets aren’t actually built on trees. Goodwin said the coniferous species in the area couldn’t support the weight, and furthermore she didn’t want to harm the mature trees.“They’re in the trees but not on the trees,” she said. “My whole point in doing this was not to cut the trees down.”The chalets rest on complexly engineered and heavily reinforced pillars constructed of helical piers and I-beams, covered in a realistic-looking “bark” material that squirrels frolic on as if it’s real.“If it fools the squirrels, I’m good with it,” she said.The loft bedroom sleeps four in a king and two bunks under stunning architectural details. Photo courtesy of Trevon BakerGoodwin modeled the project after her Glacier Bear Retreat, which she constructed five years ago in Glacier National Park. Though the accommodations are “storybook inspired,” Goodwin approached the challenging endeavor with a meticulous seriousness honed during her nearly 40 years of real estate development.In both the design and interior’s composition of high-quality materials, Goodwin was guided by a philosophy of mixing “super luxurious” with whimsical, asking the question: “If Hansel and Gretel got together with Harry Potter and built a house, would they put this in there?”Goodwin named the three chalets, which sleep anywhere between six and 10 people, after the types of trees located on the property.“We wanted to honor the trees,” she said.Between the time of groundbreaking in August 2016 and completion in September 2017, Goodwin estimates 150 craftspeople altogether worked on the chalets, battling harsh winters. She raved about Malmquist Construction, as well as Three Rivers Bank, which lent unwavering support to a difficult, offbeat project, as did her husband, Darryl Slattengren.Drew Fortner of Basecamp Coworking space in Whitefish. Justin Franz | Flathead Living“I can’t say enough about Malmquist,” she said. “And none of this would have happened without Three Rivers Bank. They stepped in and said, ‘We believe in you and we believe in the project.’”Bear Barinowski, project manager with Malmquist Construction, says the chalets are one-of-a-kind in their creativity of design and requisite ingenuity of engineering and construction.“Malmquist Construction has worked on a huge array of structures in our business over the past 22 years in Whitefish,” Barinowski said. “Never has a structure captured our attention like Snow Bear Chalets.”Dan Graves, CEO of Whitefish Mountain Resort, said the chalets “remind me of my childlike wonderment of what it would be like to live in the trees,” which is precisely Goodwin’s goal. She said adult visitors tend to get caught up in the chalets’ fairy-tale whimsy as much as their children and grandchildren do.Goodwin’s father, a homebuilder and contractor who planted the seeds for her own development career, passed away without seeing the chalets come to fruition. But Goodwin felt his presence, and still does.“He didn’t see it happen,” she said, “but I like to think it happened because of him.”
‘ 199 29 Posted in Super Rugby, Top headlines Tagged Bulls, north-south derby, Stormers, Super Rugby Damian Willemse’s game management will be key when the Stormers welcome a belligerent Vodacom Bulls pack as well as the big boot of Morne Steyn to Newlands on Saturday, writes JON CARDINELLI.How badly do the Stormers want to mark their final Super Rugby fixure at Newlands against the old enemy with a victory? Coach John Dobson and senior statesman Frans Malherbe spoke about the team’s hunger and determination at a media conference on Thursday.The Stormers have won their last eight home matches against the Bulls. Malherbe, who’s set to win his 100th Super Rugby cap on Saturday, has never lost a game against the Bulls at Newlands since making his Super Rugby debut in 2012.ALSO READ: End of an era for epic derbyThe veteran tighthead was at pains to admit, however, that the clashes with the Bulls have been brutal affairs. Those eight consecutive wins have been hard earned.‘They will come at us hard this Saturday,’ Malherbe said. ‘They may not have got the result at Newlands over the past few years, but it’s always been a tough contest and it’s always been personal.‘Then there’s the fact that this is the last one [north-south derby] at Newlands. That will definitely add to their motivation.’Captain Siya Kolisi and hooker Bongi Mbonambi have been ruled out for much of the season with long-term injuries. Dobson has selected Johan du Toit at No 8 this week in a new-look back row that features older brother Pieter and form fetcher Jaco Coetzee.Dobson said that the selection of the younger Du Toit at No 8 would help the Stormers combat a crack Bulls lineout unit led by former Bok Juandre Kruger. If the Stormers get on to the front foot as they did against the Hurricanes last Saturday, halfbacks Herschel Jantjies and Damian Willemse will have the room to work their magic.ALSO READ: Stormers wary of Bulls pack, Steyn’s bootIf the Bulls forwards set the platform, however, veteran flyhalf Morne Steyn will have the means to dominate territory and pressure the Stormers defence.Dobson feels that Willemse, who at the tender age of 21 is playing his fourth season for the Stormers, is well placed to take Steyn on and win the territorial battle.‘We just spoke about this at training this afternoon,’ said Dobson. ‘His awareness in that tactical kicking and game management department has grown exponentially. He is starting to see where the space is in backfield.‘At times, he has gone off-piste structurally, but I’ve been pleased with the way he has been dominating territory. He’s much more mature now that he was two or three seasons back.‘We’ve also got to acknowledge that he spent most of last season focusing on No 15,’ Dobson added, referring to Willemse’s stint at fullback for both the Boks and Stormers in 2019. ‘We’re happy with the way he is progressing.’*Have you signed up to our newsletter? Click here to join the thousands of readers who are part of our newsletter community.Photo: Ryan Wilkisky/BackpagePix Post by Jon Cardinelli Watch: I wanted to rip Jean’s head off – Jaque FourieSA Rugby MagUndo Damian Willemse ‘ BuzzAura16 Cancer Causing Foods You Probably Eat Every DayBuzzAura|SponsoredSponsoredUndo ‘ 熱門話題對肚腩脂肪感到後悔！試了在萬寧賣的這個後…熱門話題|SponsoredSponsoredUndo ‘ AlphaCuteOprah’s New House Cost $90 Million, And This Is What It Looks LikeAlphaCute|SponsoredSponsoredUndo World Cup-winning Bok quartet in Eddie Jones’ all-time XVMaverick coach Eddie Jones has named his Test dream team made up of players he has worked with throughout his illustrious career.SA Rugby MagUndoHero WarsThis game will keep you up all night!Hero Wars|SponsoredSponsoredUndoDatemyage.comOver 40 And Single?Datemyage.com|SponsoredSponsoredUndoDental Care For Seniors On Medicare | Sponsored ListingsSee what full mouth dental implants may cost youDental Care For Seniors On Medicare | Sponsored Listings|SponsoredSponsoredUndoBuzzSuperDetails About Meghan Markle’s Wedding Will Leave You SpeechlessBuzzSuper|SponsoredSponsoredUndoGrammarlyAvoid Grammatical Errors with This Helpful Browser ExtensionGrammarly|SponsoredSponsoredUndo Published on February 6, 2020 Willemse braced for Steyn challenge ‘ ‘ Datemyage.comThe Best Place To Meet Guys Your Own Age in Tsuen WanDatemyage.com|SponsoredSponsoredUndoAaron Smith names South African as greatest World Cup scrumhalfSA Rugby MagUndoFrom the magazine: Jano Vermaak names his Perfect XVSA Rugby MagUndoGoGoPeak10 Most Beautiful Cities You Should Visit Once In Your LifetimeGoGoPeak|SponsoredSponsoredUndo
Wars and temper tantrums are the makeshift of ignorance; regrets are illuminations come too late – Joseph CampbellI have witnessed adults around me displaying some incorrigible and intolerable attitudes. I wonder, ‘Do I behave like that’ or ‘what if I do and I don’t know?’ So, I decided to dig deep into adult behaviours and I came across Adult Tantrums!! I was shaken yet intrigued.When we hear the word tantrum, we imagine a 5-year-old lying on the floor kicking, screaming or throwing things. Rarely do we use it to describe an adult having a flare-up. We don’t typically refer to an adult as having a tantrum. We refer to them as “just blowing off some steam.”Temper tantrums, in general, are disruptive and unruly behaviours or emotional outbursts that involve physical acts or screaming. Many children never develop good coping skills — the tantrums continue well into adulthood.We all go through spells of anger and even utter words we may regret later. An adult temper tantrum proves an inability to cope with negative emotions and can even be used as a form of manipulation.When you’ve been handed out the silent treatment, you know just how ruthlessly effective this type of emotional manipulation can be. You are consumed with guilt, and the longer it goes on, all you want to do is rectify your wrong — though you know you didn’t do anything wrong in the first place. However, yielding to childish behaviour reinforces the message that this churlishness is appropriate behaviour. In future, they will continue acting this way because they know it gets them what they want. So learn your lessons well.Tantrums adults throw on a daily basis may include:1. Using a high pitch or a loud tone of voice while talking. Yes, it’s a kind of tantrum! Normally people talk in a medium to low tone or pitch. That’s good manners!2. Flinching, eyes rolling, frowning or no expression on the face. I didn’t think about it this way before, but these are actual tantrums, especially in a group or a workplace. Don’t make these a habit.3. Getting irritated at every little thing. Most of us throw this tantrum every day! Make a conscious choice and resolve to say no to it.4. Pacing back and forth in aggression.5. Aggressive hand gestures while talking face to face.Using phrases like “Don’t be such a baby”, “ Why are you being so silly”, “You’re crazy”, “Are you out of your mind?” – Guess what, all of this affects the adult even more than the reasons for their tantrums! So, just stop asking or reacting like this.Interacting with an adult who throws frequent tantrums can be a harrowing experience for those around them and leave them fatigued. When the person gets into THAT mood, they’re insensitive to anyone else’s feelings. It’s as if they’re able to ignore the fact that anyone else’s feelings matter except their own. They fail to show empathy for others and completely fixate on their own needs.In extreme cases, their thoughts become so irrational that they are unable to utilize logic and reasoning stops. Afterwards, the person will have little to no recollection about how they had been behaving and as a result, feel little need to offer an apology for their behaviour. Dealing with someone like that is a challenge indeed.The best way to deal with an adult tantrum is to remain calm, be understanding, lend a sympathetic ear, don’t take it personally and give the person time and spaceAn adult throwing tantrums can be because of the following reasons:Attention deficit hyperactivity disorder, Bipolar disorder, Borderline personality disorder, Obsessive-Compulsive disorder, Autism spectrum disorders, Narcissistic Personality, Substance abuse and Post-traumatic stress disorder.These reasons for adult tantrums are too much to even think about, but people actually have these issues and they must be acknowledged. People just aren’t aware of the side-effects of any mental health issue. We ignore our day to day behaviour thinking of it as a bad day, PMS, mood swings etc. But we must think about how often we are having a certain negative emotion or slight negative feeling. We must monitor ourselves — mentally, physically, emotionally & spiritually.1. JOURNALING: I personally feel that journaling or writing things down is the best way to create self-awareness. Journaling helps us to understand not just what’s happening around or with us but also what’s happening inside us. It keeps track of our emotions and helps us to introspect and avoid repeating mistakes. . So start today, don’t procrastinate.2. WORKING OUT: Exercise, yoga, walking, running or any sport- any physical form of exercise is another way to channelize negative energy into something productive. It invigorates your brain and heart and also stabilizes you emotionally. Meditation is another way you can channelize the energy and stay calm and stress-free and stop overthinking.3. SWITCHING OFF: Stop using the television, phone, laptop or any other screen you’re using! Take a break from technology. Technology is a blessing but only if we use it judiciously. It can make us ignore all the blessings we have in our lives if we use it addictively. So switch off everything for a while. Do something else instead and come back to it when everything is under control. Don’t let yourself lose yourself during tough times.4. TALK ABOUT IT: Talking is the best way to feel better instantly. But it’s hard to be in control when your brain & heart are having a tussle. It can make you feel alone and anxious. If you cannot talk to someone, you can share your feelings in different ways. You can write blogs, create art, click pictures, or even create music. Once you share it with the world with self-belief, you’ll see that you’re not alone. There are many others who feel the same way.
It has been told by the Ministry of IT that the decision to ban these mobile apps was taken based on the report received by the Indian Cybercrime Coordination Center of the Ministry of Home Affairs. More Indian Cyber Crime Coordination Center of the Ministry of Home Affairs also presented a comprehensive report against misuse of apps.Due to the Corona epidemic, the world is caught in severe economic recession and countries of the world are in serious economic crisis. This cycle can surround the world for a long time. When will the world be free from this vortex? It does not seem easy to find the answer. Right now economic development is facing a challenge for all countries. Efforts are being made collectively for this. It is believed that the next source of economic growth is hidden in the digital economy. The digital economy is being considered a revolution.In this direction, governments, states and countries around the world are working at their own level. For this, indigenization, electronic infrastructure, research and development, human resources, data sovereignty and other issues are prominent. India is also giving evidence of being a conscious nation. He has made preparations at the global level.The government has started plans and programs strategically using Indian intelligence. In this direction, the government has shown the first glimpse of its attitude and preparedness. The government has banned some mobile apps from various sources after receiving complaints of misuse of some mobile applications available on Android and iOS platforms and stealing users’ data and sending it unauthorizedly to another server outside India.At the same time, promotion programs have been started to promote indigenous mobile apps. The government is making innovative experiments by advancing Indian companies for a strong economy. The government has started work towards encouraging the youth, indigenization in technology and realizing the concept of data sovereignty. Results are also being received.
Subscribe to the Horse Sport newsletter and get an exclusive bonus digital edition! SIGN UP Tags: Scott Brash, Longines Global Champions Tour, Email* We’ll send you our regular newsletter and include you in our monthly giveaways. PLUS, you’ll receive our exclusive Rider Fitness digital edition with 15 exercises for more effective riding. The current world number one Scott Brash threw down the gauntlet in Cannes with a dramatic win in the big class of the day, three seconds ahead of his nearest rival. It was a blistering start to the first day on the French Riviera which unfolded under idyllic blue skies. As the sun went down, the lights came on for the second of the CSI5*, the 1.50m Prix FFE French Tour Generali, which saw Ben Maher (GBR) take an early lead with his eleven year old gelding Aristo Z. He was soon overtaken by fellow British rider, John Whitaker (GBR) with his beautiful dark bay stallion Argento after they completed a strong clear round in 64.62s. However, both were beaten by their compatriot Scott Brash who delivered an effortlessly smooth and quick round with eleven year mare old Hello Annie, owned by Lady Pauline Kirkham and Lady Pauline Harris. Scott took the win a clear three seconds faster than second place man Julien Epaillard (FRA) with his chestnut stallion Sheriff de la Nutria LM.Speaking about his win, Scott said: “It’s started great to Cannes and I’m really happy as Hello Annie was fantastic here tonight. She’s a really useful horse, she jumps the big classes for the first couple of days and these sorts of horses are really useful to have in your string to keep your rankings points up. It’s great to see the Brits do well – John rode a great round, as did Ben also – his horse has been off for a while so it’s good to see him back, and this result is very good for Britain. I’ll ride Hello M’Lady for the Grand Prix – I jumped her earlier today and every day this week, so fingers crossed for Saturday.”Throughout the day, the sixth leg of the championship saw talented young riders including Charlotte Casiraghi of Monaco, competing in a string of amateur competitions before the world’s best horse and rider combinations took centre stage. With 266 temporary stables set up just a stones throw from the shoreline of the Mediterranean sea, many of the most talented horse and rider combinations in the sport have descended on this classic tour destination for its 10th anniversary year. Course designer Uliano Vezzani described the ambience: “The atmosphere is fantastic. It’s a show that I really love and feel a part of because of the atmosphere during the event. We are almost at the mid point of the season and the riders are always the best. For a course designer to design in this location, and with these horses, it’s a gift. It’s very satisfying but a big commitment to be completely involved – I really love this circuit.”Also speaking about the set up in Cannes and the sixth leg of the tour, British rider Ben Maher (GBR) said: “This round has been here a few years now, and it’s probably one of my favourites. It’s always good to come here, and it’s nice to enjoy some time during the afternoon relaxing before jumping here in the evening. It’s very dramatic under the lights and I’ve had some good times here.”The first CSI5* class, the Prix BMW Bayern Avenue, took place as dusk fell at 19:00 with 49 riders competing in the 1.45m special two phase. Home favourite Roger-Yves Bost (FRA) set the pace early on, eleventh to start and completing a blindingly quick and accurate clear round with his chestnut mare Sydney Une Prince. His lead of three seconds was then taken by Abdulrahman Al Rajhi (KSA) who rode a beautifully calm but incredibly fast round with his gelding Chicago 84. Despite this being his first competition in Cannes, and only his second experience in the Longines Global Champions Tour championship, Abdulrahman Al Rajhi managed to complete the special two phase round in just 26.44secs, almost two seconds clear of Roger-Yves who came second and Maikel van der Vleuten (NED) who came in third with his bay gelding Vdl Groep Quatro.Abdulrahman Al Rajhi (KSA) spoke following his win: “I’m very happy as it was the first class I rode in here in Cannes, and it is also only the second time I have competed in the Longines Global Champions Tour championship. I hope that we can win again in the next classes! I am very happy with the way my horse jumped today, he’s in good condition and is very relaxed. Sometimes he can get a little nervous, but he jumped very well today so I’m pleased.”Among those competing on the amateur circuit this weekend, local favourite Guillaume Canet (FRA), who commented: “I would prefer to come to Cannes for this show and not the festival! Now when someone asks me if I went to Cannes my first thought is for the competition. I enjoy coming here very much, like most of the Longines Global Champions Tour rounds – it’s a great organisation and you have the chance to ride amongst the best riders in the world; it’s great.”Keep up to date with all the action via our website www.globalchampionstour.com and through our social media channels. Horse Sport Enews More from Horse Sport:Christilot Boylen Retires From Team SportAfter an exemplary career as one of Canada’s top Dressage riders, seven-time Olympian Christilot Boylen has announced her retirement from team competition.2020 Royal Agricultural Winter Fair CancelledFor only the second time in its history, The Royal Agricultural Winter Fair has been cancelled but plans are being made for some virtual competitions.Royal Agricultural Winter Fair Statement on 2020 EventAs the Province of Ontario starts to reopen, The Royal’s Board and staff will adhere to all recommendations put forward by government and health officials.Government Financial Assistance for Ontario FarmersOntario Equestrian has recently released this update of several financial assistance packages available, including those for farm business.
The 2015 Spruce Meadows ‘Masters’ Tournament CSIO 5* hosted its second day of competition with the world’s best horses and riders Thursday. Belgium’s Gregory Wathelet celebrated his 35th birthday as well as his first trip ever to Spruce Meadows with a win in the $126,000 CANA Cup 1.60m riding Algorhythem. Earlier in the afternoon, Canada’s Eric Lamaze rode to victory in the $35,000 ATCO Structures and Logistics Cup 1.50m for the second year in a row aboard Fine Lady 5.The ‘Masters’ Tournament features five days of competition through Sunday, September 13, with highlights including Saturday’s $300,000 BMO Nations’ Cup and Sunday’s $1.5 Million CP International, presented by Rolex. One of the most prestigious grand prix events in the world, the CP International is part of the Rolex Grand Slam of Show Jumping, where Scott Brash (GBR) will attempt to become the first rider to ever take the Grand Slam title. Brash already made history by winning two consecutive legs of the challenge with victories at CHI Geneva in December followed by a second victory at CHIO Aachen a few months later. An unprecedented €1 million in bonus money is on offer to any rider who can win all three grand prix events in succession.On Thursday, the $126,000 CANA Cup was the feature event, shown over a 1.60m track set by Venezuela’s Leopoldo Palacios. Forty-seven entries contested the first round course, which yielded 14 clear rounds. Six entries were also able to clear the jump-off track without fault. Of the entries that were not able to clear the short course, two had refusals. An imposing wall set on a tight rollback turn became the bogey fence for the rest, dropping for six different pairs.In the end, it was Gregory Wathelet and his ten-year-old Dutch Warmblood mount Algorhythem (Tampa x Calvados), who completed the fastest clear round in 43.70 seconds. The pair pushed Roger Yves Bost (FRA) into second place with a time of 44.90 seconds aboard Nippon d’Elle. France also finished third as Kevin Staut and Qurack de Falasie HDC clocked in at 47.42 seconds.Wathelet captured the winning prize of $41,580 and hoisted the CANA Cup for his first win in Spruce Meadows’ esteemed International Ring. Commenting on his victory, the rider smiled, “I feel really good. It is always good to win and it is very special for me to win here in Calgary because it is a tournament that I have wanted to do for many years. I am really happy that I could come this year. It is an amazing place with amazing facilities and everything is perfect. The people are really nice and winning makes it even better.”Algorhythem is a horse that is usually ridden by Wathelet’s girlfriend and has not competed much at this level, but the rider feels that he has the potential to become a championship horse.“He just started at the big level three or four months ago,” the rider stated. “Normally my girlfriend rides him, but now she is studying and she does not have as much time, so lucky me I get to ride him for one more year.”“The first big grand prix he did was four weeks ago in Valkenswaard (NED) on the Global Champions Tour. He was fifth and double clear,” Wathelet continued. “I really think it is a horse for the big level in the future, maybe for a championship I am sure. Now I am just working to build him up and bring him to the real top level and I think having him here is really a good step in that direction. It is really an easy horse. He has good mentalities. When you come in the ring, nothing is difficult. He does not spook at all. Yesterday I was maybe a little bit scared because I had to go straight in the big competition, but he acted like he had already jumped many times here. It was more me who had to get used to that ring and the big fences.”Wathelet knew that the only way he would win against the talented list of horses and riders in Thursday’s jump-off was to go as fast as he could.“When we go to the jump-off, if I know that I have a horse who can win and be in front, for sure I am going to try. That is the sport,” he declared. “With that horse, even if it does not have the most experience and has not done that many speed competitions or jump-offs, I know that he can go fast. I took my chances and he did really well.”“I did not see the riders before me. I did not see Bosty, I just knew that he was in the lead and he is always really fast,” Wathelet continued. “I saw the jump-offs yesterday and they were crazy fast. I did not know where I could win, but I knew that I needed to take all the risk and go full speed from the beginning. That was the only way to win and I think it will be the same every day for the competitions here.”With his first Spruce Meadows win under his belt, Wathelet now plans to compete Algorhythem on Belgium’s team for the $300,000 BMO Nations’ Cup. He is also already pre-qualified for Sunday’s $1.5 Million CP International, presented by Rolex, after winning the individual silver medal at this year’s European Championships in Aachen with Conrad de Huis.Lamaze Tops ATCO Structures & Logistics Cup for Second Year in a RowThe ‘Masters’ Tournament continued in the International Ring at Spruce Meadows Thursday morning with the $35,000 ATCO Structures and Logistics Cup shown over a 1.50m course set by Leopoldo Palacios (VEN). For the second year in a row, Canada’s Eric Lamaze raised the trophy for a win aboard Artisan Farms LLC’s Fine Lady 5, a 12-year-old Hanoverian mare (Forsyth x Drosselklang II).“It is an event that is usually won by a really fast horse,” Lamaze remarked on his victories. “Actually, all of the competitions here are won by a fast horse and she is very fast.”Thirty-eight entries jumped the first round course, with 21 qualifying for the jump-off and ten double clear rounds. Lamaze and Fine Lady 5 carved out a victory in 39.70 seconds over Lisa Carlsen (CAN) and Worlds Judgement in 39.88 seconds. Chile’s Samuel Parot jumped into third with a time of 40.24 seconds aboard Couscous van Orti, and Guy Williams (GBR) finished fourth riding Casper de Muze in 40.43 seconds.“It is great to go in the ring when it does not matter what people tell you about how fast the person was before you. You know you always have a chance with her to win it,” Lamaze stated. “Some horses you know it is not possible, but with her it is possible.”Commenting on his jump-off track, Lamaze continued, “I had a lot of help at the back gate telling me what Lisa had done. The word was that it was very fast. Fine Lady is a very quick turner and she is very quick at landing and going places, so she is not a difficult horse to go fast with.”The ‘Masters’ Tournament continues on Friday featuring the $210,000 Tourmaline Oil Cup 1.60m and the $75,000 ATCO ELECTRIC ‘Circuit’ Six Bar. For a complete tournament schedule and full results, please visit www.sprucemeadows.com.$126,000 CANA Cup 1.60m1. $41,580 ALGORHYTHEM Dutch Warmblood / G / 10 Tampa x CalvadosGREGORY WATHELET (BEL) COUTHUIM Louis Simmons: 0/0/43.702. $25,200 NIPPON D ELLE Selle Francais / S / 14 Scherif D Elle x Narcos IIROGER-YVES BOST (FRA) BARBIZON Scea Haras D Elle et Equiblue: 0/0/44.903. $18,900 QURACK DE FALASIE HDC Selle Francais / G / 11 Jarnac x Fetiche du PasKEVIN STAUT (FRA) LE CHESNAY Armand Pette: 0/0/47.424. $12,600 RISSOA DAG BOIS MARGOT Selle Francais / S / 10 Quincy x ArtichaudPEDRO VENISS (BRA) LASNE SAS Haras Bois Margot: 0/0/48.735. $7,560 HELLO SANCTOS Warmblood / G / 13 Quasimodo x Nabe de ReveSCOTT BRASH (GBR) GREAT BRITAIN Lord and Lady Harris & Lady P Kirkham: 0/0/52.706. $5,670 SIMON Dutch Warmblood / G / 16 Mr Blue x PolydoxBEEZIE MADDEN (USA) CAZENOVIA, NY Abigail Wexner: 0/0/52.917. $3,780 DYLANO Warmblood / G / 14 Cento Lano x Athlet ZPIETER DEVOS (BEL) BEKKEVOORT Devos Stables: 0/4/43.308. $3,150 BABALOU AMOR Brazilian Warmblood / M / 11 Baloubet du Rouet x Ritual ImenFELIPE AMARAL (BRA) CENTRO OSACO SP Marcello Ciavaglia: 0/4/43.489. $2,520 UCEKO Dutch Warmblood / G / 14 Celano x KorianderKENT FARRINGTON (USA) WELLINGTON, FL RCG Farm: 0/4/43.9310. $2,520 CALENO 3 Warmblood / G / 11 Calido x Lancer IIGEORGINA BLOOMBERG (USA) NEW YORK, NY Gotham Enterprizes, LLC: 0/4/46.4511. $1,260 H&M CHALLENGE VD BEGIJNAKKER Zangersheide / G / 13 Chellano Z x Palestro VD BegijnakkerNICOLA PHILIPPAERTS (BEL) GRUITRODE Bart Keisse: 0/4/46.6112. $1,260 CHIVAS Z Zangersheide / G / 16 Cumano x Lord GotthardRICHARD SPOONER (USA) AGUA DULCE, CA Richard Spooner: 0/4/55.00$35,000 ATCO Power & Logistics Cup 1.50m1. $8,750 FINE LADY 5 Hanoverian / M / 12 Forsyth x Drosselklang IIERIC LAMAZE (CAN) SCHOMBERG, ON Artisan Farms, LLC: 0/0/39.702. $7,000 WORLDS JUDGEMENT Dutch Warmblood / M / 12 Judgement x FarmerLISA CARLSEN (CAN) OKOTOKS, AB WJ Partners: 0/0/39.883. $5,250 COUSCOUS VAN ORTI Belgian Warmblood / G / 13 Nabab de Reve x CashSAMUEL PAROT (CHI) WELLINGTON, FL Samuel Parot: 0/0/40.244. $3,500 CASPER DE MUZE Belgian Warmblood / G / 13 Triomphe de Muze x Corsaire de VaubanGUY WILLIAMS (GBR) KENT Guy Williams: 0/0/40.435. $2,450 QODY DE ST AUBERT Warmblood / S / 11 Fidji du Fleury x Damoiseau DOrROBERT BREUL (FRA) FRANCE Yves Vilain & Domaine des Gonets: 0/0/40.666. $1,925 COUP DE CHANCE Belgian Sport Horse / G / 9 Cardento x DarcoELIZABETH GINGRAS (CAN) EDMONTON, AB B Gingras Equestrian Ltd: 0/0/42.087. $1,400 CORBINIAN Westphalian / G / 9 Cornet Obolensky x PilotSTEVE GUERDAT (SUI) BERN Steve Guerdat: 0/0/43.838. $1,050 CAT BALOU Hanoverian / M / 10 Converter x Acord IITAMIE PHILLIPS (CAN) CALGARY, AB Tamie Phillips: 0/0/44.409. $1,050 GELEDIMAR Zangersheide / M / 12 Grosso Z x Lord ZHANNAH HEIDEGGER (USA) MALIBU, CA Monarch International: 0/0/47.5310. $875 SAXO DE LA COUR Selle Francais / G / 9 Dollar de la Pierre x Jelisco BCEDRIC ANGOT (FRA) GAMBAIS Sandrine Schuwer: 0/0/47.9311. $875 THE DUDE Oldenburg / G / 9 Carry Gold x ArgentinusWILL SIMPSON (USA) WESTLAKE VILLAGE, CA Monarch International: 0/4/39.8612. $875 CATALINA Warmblood / M / 8 Chacco Blue x ConverterEDUARDO MENEZES (BRA) CARLSBAD, CA Eduardo Menezes: 0/4/42.16 We’ll send you our regular newsletter and include you in our monthly giveaways. 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imagedepotpro/iStock(WASHINGTON) — After canceling a trip to Poland to monitor Hurricane Dorian’s approach from home, President Donald Trump on Friday declared a state of emergency in Florida as the storm barreled toward the state.“It’s looking like it could be an absolute monster,” Trump said in a video message he tweeted Thursday evening.Dorian was forecast to make landfall on Florida’s east coast overnight into Tuesday as a Category 4 storm, potentially with winds of 140 mph.If the hurricane continues on its current track as forecast, two of the president’s resorts — the Mar-a-Lago Club and Trump National Doral Miami — could sustain direct hits.As president, Trump has frequented the Mar-a-Lago Club, in Palm Beach, Fla., which according to the Miami Herald, has sent home all employees except security staff and was already shuttered for the off-season.The Herald reported that amenities like pools at Trump Doral, a resort in Doral, Fla., about 63 miles south of Mar-a-Lago, had been closed. The president this week suggested the resort could host next year’s “Group of Seven” summit.The White House said Trump would travel to Camp David, in Maryland, late Friday afternoon, but it did not release details of his plans there or who might accompany him. The president on Thursday announced that, because of Dorian, he would not travel to Poland this weekend as planned and that Vice President Mike Pence would instead go in his stead.After Florida Gov. Ron DeSantis on Thursday declared a state of emergency in all of his state’s counties and requested a federal disaster declaration for the state, the president on Friday approved an emergency declaration for Florida, according to the White House. Across the border in Georgia, the governor on Thursday declared a state of emergency in a dozen counties.On Thursday, acting FEMA Administrator Pete Gaynor and acting Assistant Secretary of Commerce for Environmental Observation and Prediction Neil Jacobs, of NOAA, visited the Oval Office to provide Trump and Pence with a look at the hurricane’s impact and the response to it, according to the White House. The president “directed Federal agencies to continue their efforts to protect lives, promote preparedness efforts, and expedite authorized assistance to areas that have been affected and are still in the path of this dangerous storm,” the White House said in a statement“We’re all ready,” Trump said in his Thursday video message. “And hopefully we’ll get lucky. But it looks to me like this time it’s heading in one direction.”The president’s warning tone for Florida, a swing state with a Republican governor, contrasted sharply with the mocking rhetoric he employed as Dorian headed toward Puerto Rico earlier this week.Copyright © 2019, ABC Radio. All rights reserved.
Reviewed, a part ofthe USA TODAY NETWORK, is seeking adetail-oriented scientist with a strong set of professional ethicsand plenty of experience in numerical and statistical analysis tolead our consumer product test labs, guide our methodology, andchampion our brand.Our mission is to help people buy the best stuff and love whatthey already own. We do this by providing our audience informative,enjoyable, and genuinely useful content.The Reviewed test labs are based in the heart of Cambridge, MA,featuring state-of-the-art facilities for testing large appliances,televisions, laptops, mattresses, kitchen and cooking products, anda host of other product categories.Are you curious about what makes the best toaster? The bestheadphones? The best snow shovel, lipstick, and bed sheet? Theideal candidate will have a deep curiosity about the world and theability to translate numerical data into genuinely usefulinformation for a wide variety of audiences. You’ll be part of arapidly growing team and responsible for providing the scientificcontext for daily content that enriches people’s lives.Because we review thousands of products each year and have acommitment to transparency, we often interface with the brands wereview. You’ll also have a chance to learn from them and share (andoccasionally defend) our lab findings with leading makers ofconsumer products.This position requires experience in research, data collection,numerical analysis, and Microsoft Excel/Google Sheets. We’re alsolooking for someone who is willing to talk about our labs and ourtest processes in writing and on camera. By designing,implementing, and summarizing the results of our test procedures,this candidate will help our editorial staff and our readers todetermine what is true about a product and what is just marketinghype.This is a full-time, salaried role working 40 hours per week,with the potential for flexible work hours. Our ideal candidatewill be an experienced scientist who is excited to create tests fora wide variety of products and who is comfortable translatingcomplex data into salient conclusions for those who do not have ascientific background.Reviewed is one of the most influential sources on the Internetwhen it comes to reviews of products like appliances, consumertechnology, lifestyle products, and more. You’ll learn on the joband become a key contributor to a team of talented, like-mindedproduct nerds.The Chief Scientist role reports to the Editor in Chief and hasone direct report. This person will operate out of our (trulyawesome) labs in Cambridge, MA. Office work takes place in an open floor plan office, withseveral smaller meeting rooms and test labs throughout thebuilding. Regardless of whether you’re onsite or remote, you’ll beexpected to be accessible to the team throughout the day viaface-to-face communication (whether in-person or over video calls),email, phone, and Slack. Responsibilities: Design, implement, and update test procedures for productstested both in Cambridge, MA and by remotefreelancers/staffers.Analyze, synthesize, and present test data to determine theperformance of products in the context of these testprocedures.Support the Editorial team’s objectives and priorities.Uphold the scientific integrity of the lab space, the testprocedures, and the collected data.Execute hands-on product testing.Be a brand ambassador for Reviewed’s mission, includinginterfacing with manufacturers, answering reader questions, andappearing on camera.Research and investigate novel ways of testing products(including understanding and operating related equipment andinstruments).Manage a team, helping them improve their skills and advancetheir careers. Buying stuff is easy. Buying the right thing is hard. That’swhere we can help. Reviewed brings consumers the most trustworthyreviews available, written by our team of experts. We believe thattough, objective reviews are the best way to analyze products. Weprovide readers with insightful, practical, and entertainingstories that help them make informed decisions. About Reviewed: Requirements: Work Environment: How to Apply: Reviewed is part of the USA TODAY Network, one of the largestnews networks in the country, reaching over 150 million monthlyunique visitors. We are eager to learn more about you and how you fitthis role. When you apply, don’t limit your upload to a resume;show us what you’ve done. To do so, put together a single documentfile that includes the following, in this order: 1. Your resume – one to twopages.2. A cover letter that outlines howyou would approach the job.3. Links to 3-6 online samples ofyour work. Show us what you’ve produced or had a hand in that bestreflects what you can do in your desired role. Doctoral degree in a scientific or computational field orrelated field or equivalent combination of education andexperience.Experience analyzing numerical data and clearly and conciselysummarizing that data for those who do not have scientificbackgrounds.Experience in Microsoft Excel and/or Google Sheets.The ability/desire to discuss scientific topics and data inwritten and visual formats.Willingness to dive into the world of consumer products,including home appliances (e.g. dishwashers, washing machines,refrigerators), major tech products (e.g. TVs, laptops, headphones,etc.), and lifestyle products (mattresses, apparel, beautyproducts) is essential. Experience testing these products is aplus.Experience being on camera and/or writing for a lay audience isa plus.Employment is contingent on passing a pre-employment,post-offer background check. It is important that these items be assembled into asingle document and uploaded in PDF format. Completing these stepswill ensure that your application receives the highestconsideration.
Clockwise from top: Gary Barnett, Aby Rosen, Michael Stern, Jeff Blau, Ziel Feldman and Robert Gladstone (Illustration by Nazario Graziano)It was set to be the tallest condo tower in Lower Manhattan, capped with a ring of golden bands that arched toward the sky.But as the new year arrived, with the high-end condo market in freefall, developers Madison Equities and Gemdale Properties pulled the plug last month on their 1,115-foot supertall at 45 Broad Street, citing “market conditions.” In the previous quarter, sales in the Financial District sank almost 45 percent.Now, the project will be delivered later, and 80 feet shorter than expected, a spokesperson for the developers told The Real Deal — though time will tell.“Assuming 45 Broad can’t be built as a rental, due to the costs of the project, then going on hold is a smart decision given the amount of inventory on the market,” said Andrew Gerringer, managing director of new business development at the Marketing Directors.ADVERTISEMENTThe site, a gaping hole encased in a cordon on a busy street in the Financial District, serves as a gloomy reminder for developers: The luxury condo boom that defined the past decade has come to an end.Back in 2013, when the U.S. economy was rebounding and foreign capital was flowing through the city, 84 Manhattan condo projects were filed with the New York attorney general’s office, according to a TRD analysis. The next year, that number peaked at 86. Today, many of the units in these luxury buildings are still sitting vacant, and they could take more than six years to sell, according to appraiser Jonathan Miller of Miller Samuel. To put that in perspective: There is $5.7 billion in existing inventory on the market and $2.2 billion in contract, according to a 2019 new development condo report from Halstead Development Marketing, which counted $13 billion in sales that have closed since 2018. Those figures combined still fall short of $33 billion worth of inventory lurking in the shadows, according to Halstead. Condos conceived at the peak of the market are launching sales at a time defined by oversupply and uncertainty, forcing developers to cut prices, seek lender lifelines and come up with creative concessions to stay afloat. There are more than 1,000 unsold units across Manhattan’s four biggest condo projects, according to an analysis of figures from Nancy Packes Pipeline and Transactions Databases that are licensed to the real estate industry.Related: Mondo condos — Manhattan’s four biggest projects of this cycle“Anyone who thinks they can just sit there and charge the exorbitant prices they were able to get three or four years ago and they’re going to be able sell inventory in a prompt manner … it’s not going to happen,” said Christopher Delson, a partner at the law firm Morrison & Foerster.While some developers are choosing to halt projects before they rise from the ground, others are opting for smaller boutique models over the gargantuan skyscrapers that hallmarked the boom. Eighty percent of the 51 Manhattan condo plans filed in 2019 were for projects with fewer than 50 units, according to TRD’s research. None of the projects had more than 200 units.“I don’t think anyone is running to do a lot of new condo now,” said JDS Development Group’s Michael Stern, who argued the slowdown will clear the runway for new units to sell.Others note that it’s a mixed bag for existing inventory, based on quality and price. “I think we are in a fragmented market, and all projects are not created equally.” said Robin Schneiderman, business development director for Halstead’s new development division. “While there are challenging spots, there are also spots that continue to perform very well.”The decade’s boom-to-bust trajectory has taken a professional toll on many in the industry — and a personal one. Perhaps few have felt it more than Joseph Beninati. The Bronx-born developer burst onto the scene in 2013 with plans for a 950-foot-tall condo tower at 3 Sutton Place. But the 113-unit project collapsed under financial pressures, including costly payments on a $147 million construction loan. A 12-unit condo project at 515 West 29th Street sponsored by the developer’s firm Bauhouse Group also collapsed into litigation.This January, Beninati filed for personal bankruptcy in Texas, disclosing that he has $24 million in liabilities and just $900 in his checking account. He surrendered the Mercedes and Audi he had been leasing. The developer, who could not be reached for comment, now earns $1,500 a month doing acquisition work for a company named Other Side Industrial, according to filings.Beninati’s collapse was more a result of his inexperience and missteps than the market downturn. But the risk of casualty is high across the board.“If the U.S. goes into recession, the stock market will be down, everyone will be hurting, and that will undermine the luxury market,” said Mark Zandi, chief economist at Moody’s Analytics. “I do think recession risks, generally, are high and will remain high because of where we are in the business cycle,” he said. “The odds are probably one in five for this year, but if you told me we had a recession sometime in the next two to three years, I would not be surprised.”A big correction?Last March, veteran condo developer William Zeckendorf traveled to Albany to lobby against a proposed pied-à-terre tax. While his efforts helped kill the proposal, increased mansion and transfer taxes were imposed as an alternative, hitting high-end buyers directly.These legislative changes, which followed a federal cap on state and local tax deductions, are part of a wider political shift that has rocked the industry’s long-standing power in New York and caused tension with a younger generation of activists concerned about gentrification, corporate transparency and climate change. The shift also put pressure on a sales market already struggling with a sharp decline in foreign buyers.It’s difficult to know which factors had the most impact — from overpricing to politics to foreign buyers, the pool is vast — but by the end of the decade, no one doubted that the market had taken a major hit. In 2019, only 935 luxury contracts — which included condos, co-ops and townhouses — were signed for a total value of $7.65 billion, the lowest dollar volume since 2012, according to Olshan Realty.As always, there were outliers: Vornado Realty Trust’s 116-unit tower at 220 Central Park South brought in record-breaking sales following its 2015 launch, including the $238 million penthouse purchased by hedge-funder Ken Griffin last January — the most expensive home sale in U.S. history. Farther downtown, Amazon’s Jeff Bezos dropped $80 million on three units at 212 Fifth Avenue five months later, marking the largest downtown condo deal in history. But while news of big sales gave the appearance of continued strength in the luxury market, they often spoke more to an extinct market rather than to current conditions: Many of the prices were fixed years ago when the units went into contract.With the sales market in flux, high-end rentals reaped some of the rewards as buyers retreated to temporary homes to wait for prices to hit bottom. “Luxury rental prices boomed at the onset of the financial crisis and then stabilized for about six years, then began to climb again in 2019,” Miller said. In the last quarter of 2019, they hit a median price of $9,000 — the highest in 10 years.Of course, in the world of big money, big stakes and big egos, real estate is an inherently risky business, and some brokers insist the narrative of doom is overstated. Volatility is par the course, they say, and New York will always be seen as an attractive place to buy.(Click to enlarge)“I think it’s easy to jump on the bandwagon and say how bad the market is,” said Douglas Elliman’s Richard Steinberg, who noted that, while 2019 was a particularly difficult year, his team saw a 50 percent increase in sales in the fourth quarter, and he was positive going into 2020.He said the uptick showed that developers and sellers were slowly accepting that prices had to come down. The last big drop in luxury pricing came at the onset of the financial crisis, Miller said. The current retreat is notably longer; prices peaked in 2016 and continued to fall through the end of last year. While there may be another price correction ahead, Miller said, the “heavy lifting,” by and large, is over. Longtime Sotheby’s International agent Nikki Field said brokers themselves are jumping into the market, a vote of confidence for buyers considering their options. “My senior partner Kevin Brown bought a condo recently, and I’m buying a co-op,” she said. “When an experienced professional in the field is buying at this time, you know that we feel this is the right opportunity.”But despite positive forecasts, the declines in recent years have undoubtedly led to collective soul searching about where things went wrong. The climate should be ideal for sales: The U.S. economy is still strong; the S&P 500 skyrocketed 30 percent last year; and interest rates are near an all-time low. Yet one-in-four new luxury condos built in New York City since 2013 were unsold as of last September, according to an analysis by StreetEasy.The glut of inventory raises questions about whether there was ever enough demand for all the luxury units that were built and whether developers relied too heavily on all-cash foreign buyers who saw Manhattan as a safe haven for their money.Donna Olshan, head of the boutique residential brokerage Olshan Realty, said developers should have given more thought to who was coming to the city, including the thousands of tech workers who are expected to move here in the coming years as companies, including Facebook, Google and Amazon, boost their New York operations.“I think the developers suspend reality — if they can raise the money to build a project, they do,” she said. “They’re like Broadway producers. They always think they have a hit.”One57 for allWhen the financial crisis rocked Manhattan’s luxury condo market in 2008, everything from bank lending to construction ground to a halt. But in 2014, an ambitious skyscraper rose up over Central Park, built by Gary Barnett’s Extell Development.One57 — a record-breaking, 75-story structure with a facade of silver and blue squares — cemented Barnett’s place as a pioneer, pushing prices higher and ushering in an ultra-competitive era of luxury real estate.“It was the great project at the time,” said Charlie Attias, a broker at Compass who’s been selling condos in Manhattan for nearly two decades. “There was nothing else.”But 10 years into the country’s longest economic expansion and one of the city’s most dramatic real estate cycles, Barnett — like dozens of other high-profile developers — is struggling to sell.Extell’s One Manhattan Square, the biggest project on the market with 815 units, has sold just 223 apartments with another 39 in contract, according to TRD’s analysis of data provided by Nancy Packes.At One57, resale prices have reflected the market’s decline. Last year retail heir David Lowy sold his three-bedroom unit at the tower for $19 million, about 32 percent less than what he paid in 2015. It was the largest resale loss of 2019.Extell declined to comment for this story. But in an interview with this publication last December, Barnett said the city’s unpredictability has led his firm to look more outside New York and move further into rentals.“We don’t have the velocity we’d like to see, but we are signing deals,” Barnett said of Extell’s Billionaires’ Row projects. “We are chipping away at the inventory. There’s less inventory at that super high level. There are also fewer buyers.” He expressed confidence, however, that the Manhattan condo market would recover. For high-stakes developers, an aura of confidence can help to allay buyer nerves in a sentiment-driven climate. But some are seeing clearer results than others.HFZ Capital’s Ziel Feldman famously paid $870 million for a full city block near the High Line — one of the priciest Manhattan land deals ever — and borrowed $1.25 billion — one of the largest construction loans of the cycle — to build his firm’s two twisting towers at 76 11th Avenue. Sales officially launched at the building in September 2018.The developer is targeting a total sellout of $2 billion. But while New Zealand billionaire Graeme Hart reportedly went into contract for a $34 million penthouse at the building last June, there have been no recorded sales on XI’s 236 condo units to date, Packes’ data showed. HFZ declined to comment. For now, the Related Companies appears to be leading the pack at its 15 Hudson Yards development, where 171 of the 285 units are sold, and 10 are in contract, according to the firm.On the other end, Aby Rosen’s RFR Holding and Chinese firm Vanke have started to slash prices at its 94-unit, 63-story condo at 100 East 53rd Street, where just 23 of the property’s units had closed as of December 2019, according to public filings. The developers took on huge debt for the project, including $360 million from the Industrial and Commercial Bank of China. “I don’t think there’s a single new development building that has not come under pressure from banks,” Leonard Steinberg, the Compass agent directing sales, told TRD in December. “But it’s not like there’s a gun to our heads.” RFR declined to comment.Olshan said players who are being squeezed will need to renegotiate their debt, noting that every developer has a different relationship with their backers. “Obviously, if they’re not selling, they have to placate their equity partners,” she noted. “Some of them will stay forever and hang in there. Others won’t.” Money mattersIn Downtown Manhattan, on the border of Chinatown, Extell’s One Manhattan Square stands as a symbol of boom-era goals and market realities.Since sales launched in 2015 — the first push targeting buyers in China, Malaysia and Singapore — the developer has introduced an array of concessions to spur deals, offering to waive common charges for up to 10 years and even launching a rent-to-own program that allows residents to try before they buy.The program has also been rolled out at two Downtown properties owned by Ben Shaoul’s Magnum Real Estate Group.Jordan Brill, a partner at the firm, said the plan made sense in an uncertain market fraught with psychological barriers. “Product’s moving very slow because people are being extra cautious and want to make sure they make a sound investment amidst this relative state of paralysis,” he said.Shaun Pappas, a real estate attorney who works with Magnum, said he has been contacted by smaller developers about whether rent-to-own would work for them. One of his clients, Italian-born developer Stefano Farsura, said he was considering it for his 14-unit condo on 139 East 23rd Street. Sales launched in January, and all units are asking below $4 million. “We decided to stay flexible and see how the market reacts,” he said.Download Image-2.pngThe developer, who filed plans for his project in 2019, said he had changed course as he watched the market struggle. First, he scrapped a penthouse with a rooftop garden — an “ego apartment,” he called it — in favor of making the units more uniform in price and converting the rooftop into a communal space with open-air seating and a barbeque. His next step was to push sales back to when the project was all but complete, a trend that is becoming more common because buyers don’t have the same sense of urgency they once did and often want to see their units before signing a deal.“We have a number of condo projects that are on the drawing board — things that we know will happen — but people are holding off putting them on the market until they are close to completion, as opposed to pre-construction marketing,” said Jay Neveloff, a partner at the law firm Kramer Levin Naftalis & Frankel.But as concessions, incentives and even delayed sales launches become pervasive — in many cases coupled with price cuts — the line between solid strategy and marketing gimmick can narrow. In January, star Nest Seekers broker Ryan Serhant surprised some in the industry by posing behind a pile of cash for an Instagram video, in which he announced, “I’m going to offer $50,000 in cash to the first broker who brings me a deal at 196 Orchard in 2020.” (Magnum, the firm behind the Downtown project, later confirmed it was footing the bill.)Brill said he was surprised to see a few people suggest the promotion was unethical and put the criticism down to shortsightedness. “Any broker looking to push a transaction through today is going to offer either a piece or all of that incentive to their buyer, and what would be unethical is not sharing that extra $50,000 with their buyer,” he said. The need to lift sales is particularly pressing for developers weighed down by large amounts of debt. One luxury condo project that almost came apart because of missed loan payments and sluggish sales is 125 Greenwich. Sponsored by Davide Bizzi’s Bizzi & Partners, Howard Lorber’s New Valley, China Cindat and the Carlton Group, the building topped out last March but is plagued by litigation and has yet to be completed.Singapore-based United Overseas Bank, which lent $195 million on the 275-unit project, moved to foreclose on the developers at the Downtown site last summer, then sold the debt to development firm BH3 Capital Partners. A separate foreclosure action by an EB-5 lender, Nick Mastroianni’s USIF, is also stalled after a planned auction did not happen last summer. And in December, a complaint was filed against the developers for skipping seven months of rent for the project’s sales office on the 84th floor of One World Trade Center.“If you haven’t started and gotten your construction loan yet,” the Marketing Directors’ Gerringer noted, “why would you build today in a market like this when there is so much uncertainty and so much at risk?”Despite the challenges at some big development sites, Neveloff predicted most well-backed projects would withstand the current market pressures with plenty of options for prominent sponsors to recapitalize.But George Doerre, vice president at M&T Bank, predicted there would be fewer construction loans in 2020.“The number of people coming forward looking for condo financing just isn’t there,” he said, noting that rent reforms had hampered condo conversions. For those projects that were initiated, Doerre added, “you have to feel really confident in their ability to sell out.”Tall ordersJDS Development’s Stern — one of the luxury condo market’s newcomers of the last decade — has been building an ambitious 1,428-foot development at 111 West 57th Street on the backdrop of the luxury slowdown.The 60-unit condo project, which has a projected sellout of $1.3 billion, was co-developed by Kevin Maloney’s PMG and equity investor Ambase, which was later sidelined from the project after a drawn-out legal battle over ownership stakes and missed capital calls.But if Stern is worried about marketing 111 West 57th — the world’s skinniest skyscraper with just one unit per floor — he doesn’t show it. After launching sales in 2016, he suspended them amid the slowdown and relaunched in 2018. While the developer declined to discuss figures, he said interest has been strong, primarily from domestic buyers. The project’s first closings are expected in April, and construction is expected to wrap this year.His project is one of the newest on Billionaires’ Row, which has become crowded since One57 was built and is known for both record sales and disappointing resales. A recent Miller Samuel analysis of eight buildings in the area found that close to 40 percent of units remain unsold as of September 2019. (Extell’s Central Park Tower at 217 West 57th Street was not included.)“The developers on 57th Street started building condominiums for people that barely exist in the world,” Terra Holdings owner and co-chair Kent Swig told TRD last December. “I don’t think people did their demographic homework.” At Vornado’s 220 Central Park South — which Miller estimated to be 85 percent sold — the 116-unit building’s golden touch is soon to be tested: The first reported resale was listed this year with owner Richard Leibovitch asking $10 million more than he paid just a year ago.Stern said that while 2019 was difficult for the industry, the slowdown in new projects was positive.“We should see some of the older inventory absorbed, and that bodes well for moving more product in 2020 than we did in 2019,” he argued.Future Outlook In the past decade, 22,304 condo units were built in Manhattan, the most of any borough, according to data from Packes first reported by The New York Times.Although the 10 biggest Manhattan condo projects on the market have hundreds of empty units among them, Miller said condos priced below $5 million were faring well. Commentators often speak about the condo market as a monolith, he said, but sales below $5 million make up 96 percent of it. That portion, he said, “is moving sideways or rising.”Though often discounted, sales are still happening. There were 611 condos sold last year, according to CORE’s year-end report, fueled in part by the pre-mansion-tax rush in June. That was a slight uptick from 605 the previous year but down from 840 sales in 2017 and 883 in 2016.Many luxury brokers are still optimistic about the year ahead, while reserving caution about the potential effects of the federal election. An analysis for TRD by Jonathan Miller of co-op sales between 2008 and 2019 shows this concern is warranted: Sales in presidential election years dropped 12.7 percent between June and October and peaked again in November and December.Global volatility, which brokers say has wreaked havoc on the sales market in the past few years, will not slow any time soon. The impeachment trial, unrest in Iran and mounting concern over climate change all play into buyer sentiment.“The biggest concern, for me, is the pied-à-terre tax,” Elliman broker Frances Katzen said. “I think if that goes into effect — excuse my language — we’re fucked because we are heavily reliant on that investor component to diversify and absorb a big chunk of what’s being built.”Many in the industry argue that well-priced inventory will continue to sell, though disagreement persists about what pricing is realistic. “Part of the condo story is, What is the good inventory and the bad inventory?” said Stephen Kliegerman, president of Halstead Property Development Marketing. “At some point, when do we not count them as inventory anymore when they’ve been on the market for so long?”Neveloff is confident developers can navigate the uneven terrain. “I don’t expect to see many foreclosures,” he said. “I certainly don’t expect to see many bankruptcies.”Morrison & Foerster’s Delson differed. “My guess is we’re going to start to see foreclosures,” he said, noting that the process usually takes about two years.Outside Manhattan, other boroughs are also showing growth, and Brooklyn has been transformed with new development in the past decade. “New York is a bifurcated market,” said Compass’ Elizabeth Ann Stribling-Kivlan. Despite industry fears of a recession, she has seen much worse.“In the 1990s, you couldn’t give apartments away,” she said. “We aren’t in a situation like that.”Write to Sylvia Varnham O’Regan at [email protected] This content is for subscribers only.Subscribe Now