Citi looks to sell $193M in defaulted loans on Ron Perelman’s buildings

first_imgRon Perelman with 27-33, 35 and 41 East 62nd Street (Getty; Google Maps)Last year, billionaire Ron Perelman — troubled by since-resolved debt from Revlon and a tumbling net worth — sought to “clean house and simplify.”That kicked off a sale of his assets, including artwork, one of his three Gulfstream jets and several high-priced homes, with some proceeds intended to pay down debt he had personally guaranteed.Now, one of Perelman’s lenders is moving to sell defaulted loans with a balance of $193 million, The Real Deal has learned.A Cushman & Wakefield capital markets team is marketing the Citibank notes secured by three of Perelman’s adjacent properties on East 62nd Street, including his duplex residence. The brokerage and Citibank both declined to comment on the sale.A spokesperson for Perelman’s investment firm, MacAndrews & Forbes, said the issue is related to “appraisals that were done in June 2020 during the pandemic,” adding that, “we are in a commercial dispute over certain terms of our bank agreements and the use of flawed appraisals.”ADVERTISEMENTThe three-mixed use buildings at 27-33, 35 and 41 East 62nd Street total 106,000 square feet and are subject to a master lease. The properties include Perelman’s sprawling duplex penthouse; a restaurant, Fleming, which he opened in 2018; and MacAndrews & Forbes’ offices.The loans, which mature on Aug. 31, 2023, are backed by “sponsorships’ guarantees,” which the marketing materials for the “East 62nd Street Townhouse Collection” say can only be accessed after signing a confidentiality agreement. The notes can be purchased individually or collectively.Perelman’s art and antiques do not serve as collateral for the loan, according to earlier mortgage documents.Perelman acquired the three properties over several decades. The 10-story building at 27-33 East 62nd Street was previously an apartment building that Perelman eventually converted to mixed-use. He paid $120 million for the property in 2014, and took out a $110 million loan in 2018 that included $41 million in new financing. The building is responsible for approximately $103 million of the outstanding debt.No. 35 is a six-story property that’s home to the offices of MacAndrews & Forbes. Perelman bought this building in 1989, and it accounts for approximately $52 million in outstanding debt. The final property, No. 41, is responsible for just under $38 million in debt.Perelman’s businesses have been negatively affected by the pandemic, leading to the shedding of his personal and professional assets.“I have been very public about my intention to reduce leverage, streamline operations, sell some assets and convert those assets to cash in order to seek new investment opportunities and that is exactly what we are doing,” he said in a statement last year.Those assets include two properties on East 63rd Street, which are being marketed by Serena Boardman of Sotheby’s International Realty. Perelman was reportedly seeking $65 million for the larger of the two buildings, and $10 million for the other. Boardman did not immediately respond to a request for comment.Last fall, he was also reportedly seeking a buyer for “The Creeks,” a 57-acre estate in East Hampton, via a whisper listing for $180 million. Perelman’s spokesperson denies the property was ever for sale.last_img read more

VIDEO: Danish revenge for WCh 2017 and “stupid way to lose”

first_imgDenmark – Sweden 30-29  (15-16)Denmark: Mette Tranborg 7, Anne Mette Hansen 5, Trine Østergaard 4, Kathrine Heindahl 4, Mie Højlund 4, Stine Jørgensen 2, Lærke Nolsøe 1, Fie Woller 1, Nadia Offendal 1, Stine Bodholt 1.Sweden: Nathalia Hagman 7, Isabelle Gullden 5, Jamina Roberts 4, Olivia Mellegård 3, Mikaela Brass 3, Anna Lagerquist 2, Hanna Blomstrand 2, Carin Strömberg 1, Daniela Gustin 1, Jenny Alm 1. ShareTweetShareShareEmail TOP 5 IN 2019 – Vyakhireva, Oftedal, Abbingh, Toft…. Click to comment French girls take European crown for the first time! Hagman takes off and helps Sweden book a place in Pariscenter_img Recommended for you Related Items:Danish womens handball team, Nathalie Hagman, Sandra Toft, Women’s EHF EURO 2018 ShareTweetShareShareEmailCommentsNathalie Hagman is definitely the loser of Day 2 at Women’s EHF EURO 2018 together with her team – Sweden. The Swedish girls had a chance to take a point in Nordic derby against Denmark, but experienced right wing threw the ball from 7-meter line so badly against Danish goalkeeper Sandra Toft, when celebration could start.This was a revenge for WCh 2017 quarter-final loss last winter in Leipzig when Sweden were much better (27:23). Leave a Reply Cancel replyYour email address will not be published.Comment Name Email Website Save my name, email, and website in this browser for the next time I comment.last_img read more

Drum Prodigy Nandi Bushell Graciously Accepts Dave Grohl’s Admission Of Defeat [Video]

first_imgOn Thursday, the dramatic feud between Dave Grohl and 10-year-old YouTube sensation Nandi Bushell came to a close when the Foo Fighters frontman conceded defeat on The Late Show with Stephen Colbert. Then on Sunday, Bushell issued her response to Grohl’s admission which, rather than gloating in the face of victory, looked ahead to the former adversaries’ upcoming collaboration.The saga between the British girl and the world-famous musician stretches back to August 17th, when Bushell posted a video on her YouTube page of her drumming to the Foo Fighters hit “Everlong” and challenged Grohl to a drum-off. Grohl responded in kind by performing the song, as well as issuing a new challenge for Bushell to play “Dead End Friends” by Them Crooked Vultures.In September, Bushell responded with a beat-for-beat recreation of Grohl’s performance, after which the 51-year-old musician declared her the victor of round one. In honor of Bushell’s victory, Grohl even wrote a theme song for the “superhero” in addition to admitting defeat on national television.Related: Watch Dave Grohl’s 8-Year-Old Daughter Rock The Drums In Iceland With Foo FightersNow, with their competition behind them, Bushell and Grohl are ready to join forces and collaborate on a song. But first, however, it was time for Bushell to claim victory, which she did in a charmingly well-produced video posted to her Twitter on Sunday. The video features her invoking the gods of rock in poetic verse, as well as quoting the Tenacious D song “Tribute” in anticipation of her and Grohl writing “The greatest song in the world.”Bushell says in the video,Mr Grohl, thou declare defeat at my feet/the rocks gods of old watch you retreat/your legend of history will echo in time/but still you resign to a child of three foot nine/sticks/rock gods be with me/I call on thee/strum Hendrix, slap Lemmy, and sing with me Freddie/the legendary Grohl wants to jam with me/and we shall create the greatest rhapsody!Watch Nandi Bushell claim victory over Dave Grohl, and look out for a forthcoming collaboration between the former combatants.last_img read more

Scientists examine: Why do men sometimes show their opponents signs of respect after a fight?

first_imgLinkedIn Share on Facebook Share Pinterest Emailcenter_img Share on Twitter PsyPost interviewed the study’s corresponding author, Nicole Barbaro. To learn more about the study, read her explanation of the research below:PsyPost: Why were you interested in this topic?Barbaro: There were two primary reasons we were interested in this topic. One reason being that no research had yet been conducted on post-fight respect, or post-fight reconciliation behavior, in humans. A bit a research had been done on reconciliatory behaviors following combative behavior in chimpanzees and other primates, but the vast majority of the human research on fighting and combative behavior has been focused on formidability assessments and the benefits of dominance within competitive contexts. The second reason being that we were interested in explaining a real-life phenomenon commonly seen in combat sports, such as mixed martial arts (e.g., UFC). It is incredibly common to see that two opponents — who had spent upwards of 25 minutes attempting to knock out the other — shake hands, hug, and praise one another at the conclusion of the fight. So, we were interested in whether there are reliable predictors of displaying what we call “post-fight respect “given certain attributes of the fight and the combatants. What should the average person take away from your study?Our research includes three studies (two self-report studies, and one behavioral study) to investigate whether features of the fight and combatants—fight outcome, use of “dirty” fight tactics, size asymmetries, fighter ranking, and presence of witnesses—predicted whether an individual’s anticipates receiving respect from their opponent and the likelihood that an individual would actually display respect to their opponent following a one-on-one fight. Across the three studies there are two major findings. One being that, on average, individuals expect that they should receive post-fight respect more often than they are willing to actually display post-fight respect. The second being that size asymmetries and use of “dirty” fight tactics appear to be the most reliable predictors of both receiving and displaying post-fight respect. The latter finding accords with much previous research on human combat, such that (1) men (and to a lesser degree, women) can very accurately assess the physical strength and general formidability of other men visually, and (2) cross-cultural research shows that there is general agreement on what type of fight tactics, or behaviors, are acceptable for one-on-one fights. Given the previous work in this area, our findings mesh well, and also contribute novel findings in an under-researched domain of psychology. Based on our findings, we suggest that displaying post-fight respect to an opponent reflects positive valuations of the opponent’s fighting performance—that is, if an opponent is much smaller than you (a fighting “handicap” of sorts) and fights a “clean” fight, then your display of respect is a way of praising their good fighting performance.Are there any major caveats? What questions still need to be addressed?Our research is, to our knowledge, the first attempt to understand the psychology underlying the phenomenon we call “post-fight respect” in humans. Replication and extension of our findings are important for a better and more comprehensive understanding of post-fight behavior in humans, more generally. There are several unanswered questions that still need to be addressed. For instance, the relationship between the two combatants may be important for displays of post-fight behavior–Are the combatants friends? Enemies? Strangers? Another potential predictor we are interested in looking into is whether the fight itself resolved the issue that lead to the escalation in the first place—for instance, we suspect that post-fight respect may potentially signal that the conflict between the combatants has been resolved.Is there anything else you would like to add?Humans—and in particular, men—have a long evolutionary history of fighting and combat. And a wealth of previous research supports this notion, including findings that the events leading to combat are quite predictable, that men have the capacity to evaluate the formidability of other men, and that there is cross-cultural agreement on acceptable fighting behaviors. Our study adds to this area or research and shows displays of post-fight respect may also be predictable given features of the fight and the combatants. Perhaps most exciting, are the future research opportunities that our findings may stimulate within this domain given the results of our research.Nicole Barbaro is currently a PhD student of Evolutionary Psychology at Oakland University. Her research focuses on romantic attachment dynamics and the predictors and consequences of aggressive behavior. More information about Nicole’s research can be found on her website (www.nicolebarbaro.com), or you can follow her research on Twitter @NicoleBarbaroThe study, “Post-Fight Respect Signals Valuations of Opponent’s Fighting Performance“, was also co-authored by Michael N. Pham, Justin K. Mogilski, Todd K. Shackelford, and Virgil Zeigler-Hill. It was published March 1, 2017. A new study provides some clues about when and why some men show signs of respect after a fight.Researchers from Oakland University said their findings indicate that humans may have evolved psychological mechanisms to signal evaluations of fighting performance. The study, published in the peer-reviewed Personality and Social Psychology Bulletin, examined what factors could predict signals of respect, such as shaking hands with an opponent.The researchers used questionnaires and an in-lab fight simulation game to investigate when men expect to receive post-fight respect from an opponent and when they themselves display respect for their opponent. They found men expected to receive respect if they win the fight, fight a more formidable opponent, and fight fair. Likewise, individuals are willing to signal respect for their opponent when they fight a less formidable combatant and if their opponent does not fight “dirty.” On the other hand, the presence or absence of witnesses appeared to have no effect on post-fight respect.last_img read more

Two black men walked out of a Starbucks in cuffs for ‘trespassing’

first_imgTwitter(PHILADELPHIA) — Two black men were handcuffed and paraded out the door of a downtown Philadelphia Starbucks for allegedly refusing to leave when asked by staffers and police in an incident captured in a video was posted on social media.The video, posted by Melissa DePino, took place at around 4:30 p.m. on Thursday inside of a Starbucks on Spruce Street near South 18th Street.DePino’s footage immediately went viral on Twitter, racking up more than 4 million views.In an interview with ABC News, DePino, a 50-year-old writer and mother of two, said a Starbucks barista shouted from behind the counter at the two men to make a purchase or leave.“They were sitting quietly minding their own business, and waiting for their friend to come,” she said.DePino said she was so appalled by the incident, she refuses to go back to Starbucks.“Plenty of other local places to go,” she said.The Starbucks arrest caught on video caused the City of Brotherly Love’s mayor to come out criticizing the incident.Mayor Jim Kenney tweeted: “I’m very concerned by the incident at Starbucks. I know Starbucks is reviewing it and we will be too. @PhillyPolice is conducting an internal investigation.”On Saturday, Philadelphia Police Commissioner Richard Ross Jr. posted a detailed account of the incident, in which he defended his officers’ actions.In an almost 7-minute clip, the commissioner said a trespassing and disturbance matter led to Starbucks employees calling 911.He assured the public that he has reviewed the facts and defended the cops, saying they “did absolutely nothing wrong.”“I can tell you candidly these officers did a service they were called to do,” he said.In Delpino’s tweet and attached video, she uses the Starbucks “@Starbucks” handle to put the company on notice that the two men who “hadn’t ordered anything” while waiting for a friend to arrive were arrested “for doing nothing.”The video shows several police officers in bicycle helmets, and what appears to be a uniformed supervisor inside the coffee shop.In the video, both men appear calm and cooperative as they are led outside by the police officers.The first is a 20-something, bearded black man wearing navy sweatpants, white sneakers and an unzipped grey jacket.His friend is then seen getting cuffed behind his back and wearing a dark sweatshirt and dark jeans.“They didn’t do anything, I saw the entire thing,” said one white man, who started to question the arresting officers. “What did they do wrong?”Clearly outraged, DePino wrote the treatment of the two men was racially unjust.“All the other white ppl are wondering why it’s never happened to us when we do the same thing,” she wrote in the tweet.Starbucks responded on Twitter, first saying it was reviewing the incident to see what “led to this unfortunate result” and later posted an apology.“We apologize to the two individuals and our customers for what took place at our Philadelphia store on Thursday,” the tweet states.The company said it was “disappointed this led to an arrest” and that they “take these matters seriously.”The coffee company also stated in the tweet that it will begin to take a look at its policies to determine whether they need to be updated.“We are reviewing our policies and will continue to engage with the community and the police department to try to ensure these types of situations never happen in any of our stores,” the tweet reads.After the arrests, Starbucks decided not to press charges and the Philadelphia District Attorney also declined to pursue a case against the two men, who have since reportedly retained attorneys.Still, in his account, the police commissioner’ said the officers’ actions were justified.He said two Starbucks employees called 911, reporting both a trespass and disturbance inside of the establishment.The employees allegedly told the two men they were not permitted to use the restroom since they weren’t paying customers.“And so they asked the two males to leave and they refused to leave and the police were called,” Ross said in the video posted on the department’s Facebook page.The two men were then allegedly told that the police would be called and allegedly responded, “Go ahead and call the police. We don’t care,” according to Ross’s retelling of the police officers’ account.When the cops arrived at the Starbucks, Ross said, they also asked the men to leave and they again refused and one of them allegedly took a verbal jab at the cops saying, ‘You don’t actually know what you’re doing. You’re only a $45,000 a year employee,” Ross stated in the video.Ross said the men were given several chances to leave, but they kept refusing.“On three different occasions the officers asked the two males politely to leave the location because they were being asked to leave by employees because they were trespassing,” he said. “Instead the males continued to refuse as they had told the employees and they told the officers they were not leaving.”Ross said that the police remained professional and they “followed policy and they did what they are supposed to do.”The officers “got the opposite back,” the commissioner said.He also noted that it was only while the men were being processed that they were alerted that Starbucks “no longer wanted to prosecute.”The commissioner also stated that he was speaking “as an African American” beyond being the top cop and that he was “very aware of implicit bias.”He said that he has made it a priority for his department — both rank and file as well as commanders — to receive racially-sensitive training that includes taking field trips to the National Museum of African American History and Culture and the United States Holocaust Memorial Museum in Washington D.C.“We do this because we want people, our officers, our recruits to understand the minute they come on board to know about the atrocities that were committed by policing around the world,” Ross said.Copyright © 2018, ABC Radio. 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