Tag Archives: million

Neil Armstrong souvenirs brings $7.5 million at auction

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Associated Press Astronauts Neil Armstrong and David R. Scott show up March 16, 1966, at Complex 19 for a simulated test in preparation for flight.

Sunday, Nov. 4, 2018|10:06 a.m.

DALLAS– Souvenirs that belonged to the very first guy to set foot on the moon, Neil Armstrong, has actually brought more than $7.4 million at auction.

Dallas-based Heritage Auctions says the item that cost the highest price, $468,500, at Saturday’s auctionwas Armstrong’s spacecraft ID plate from Apollo 11’s lunar module Eagle. Likewise offered were a piece from the propeller and a section of the wing from the Wright bros’ Flyer, the very first heavier-than-air self-powered aircraft, which each sold for $275,000.

The flight fit Armstrong used aboard Gemini 8, the 1966 mission that performed the very first docking of two spacecraft in flight, brought the astronaut’s household $109,375.

On the other hand, in a different auction, a gold-colored Navy aviator’s helmet when owned by John Glenn, the very first American to orbit the earth, cost $46,250.

Former utility worker pleads guilty in $6.7 million workplace supply scheme

Tuesday, Oct. 9, 2018|3:38 p.m.

. A previous Las Vegas Valley Water District worker might confront 23 years in prison for defrauding the energy business out of more than $6.7 million, according to the Workplace of the U.S. Lawyer for the District of Nevada.

Jennifer J. McCain-Bray, 43, who also goes by the name JJ McCain, pleaded guilty today in U.S. District Court to one count each of mail fraud and registering for an incorrect income tax return, authorities said.

For about nine years starting on Jan. 1, 2007, McCain-Bray fraudulently bought about $6.7 countless ink and toner cartridges utilizing Water District funds, declaring the products were for the utility’s use, authorities said. McCain-Bray worked as a buying analyst.

In truth, she designed a plan in which the products were delivered to her office at the energy business, where they were relabeled, repackaged and sent to a New Jersey business, which resold them for a profit, authorities said.

The New Jersey company would then move loan to McCain-Bray’s individual PayPal account, authorities said. She utilized the money to take pleasure in a luxurious way of life, consisting of substantial home renovation, journeys and presents for friends and family.

From 2011 to 2015, McCain-Bray likewise stopped working to report more than $2.3 million in incomes to the Internal Revenue Service, which examined the case with the FBI, authorities said.

McCain-Bray confronts 20 years in prison for mail scams and approximately three years for submitting false income tax return, in addition to $500,000 in fines, officials said. She was ordered to repay the $6.7 million.

Sentencing is set up for Jan. 29.

More than 20 million individuals viewed Kavanaugh hearing

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Tom Williams/pool image/ AP Sen. Lindsey Graham, R-S.C., points as Democrats as he safeguards Supreme Court candidate Brett Kavanaugh at the Senate Judiciary Committee on Capitol Hill in Washington, Thursday, Sept. 27, 2018.

Friday, Sept. 28, 2018|4:14 p.m.

New York City– More than 20 million people viewed Thursday’s gripping testimony by Supreme Court nominee Brett Kavanaugh and the lady who accused him of a sexual assault that supposedly happened in the 1980s, Christine Blasey Ford, on six tv networks.

Meanwhile, the political standoff continued, with broadcasters disrupting routine programs for Friday’s last-minute twist: an arrangement engineered by Arizona Sen. Jeff Flake for the FBI to conduct a one-week investigation of the charges.

Ford informed the Senate Judiciary Committee that she’s 100 percent particular that Kavanaugh searched her drunkenly and tried to remove her clothing at a high school party. Kavanaugh, in impassioned testament, stated he’s One Hundred Percent certain that it didn’t take place.

It’s likely that more than the 20.4 million people reported by Nielsen on Friday viewed it. The business was counting typical viewership on ABC, CBS, NBC, CNN, Fox News Channel and MSNBC. Figures weren’t instantly readily available for other networks that revealed it, consisting of PBS, C-SPAN and the Fox Service Network. And Nielsen usually has some difficulty measuring individuals who watch in workplaces.

To put that in viewpoint, that’s an audience size just like that for a playoff football game or the Academy Awards.

Fox News Channel, whose viewpoint hosts have highly backed Kavanaugh’s appointment, led all networks with approximately 5.69 million audiences throughout the all-day hearing, Nielsen said.

ABC was 2nd with 3.26 million audiences. CBS had 3.1 million, NBC had 2.94 million, MSNBC had 2.89 million and CNN had 2.52 million, Nielsen stated.

Interest remained high after the hearing. Nielsen said 11.8 million people enjoyed cable television programs hosted by Sean Hannity, Rachel Maddow or Chris Cuomo at 9 p.m. ET on Thursday, which likely put a dent in viewership for the fall premieres of broadcast network prime-time programs.

Flake was the main figure in Friday’s drama. After the moderate Republican’s office provided a declaration that he would be voting in favor of Kavanaugh, he was caught be CNN and CBS electronic cameras Friday early morning being shouted at by protesters as he attempted to ride an elevator to a Judiciary Committee hearing.

He stood with eyes downcast for several minutes as he was berated, telecasted live on CNN. “I’m standing here in front of you,” one woman said. “Do you believe he’s informing the reality to the country?”

He was informed, “you have power when so many ladies are helpless.”

Flake said that his office had released a declaration and stated, before the elevator closed, that he would have more to state at the committee hearing.

The cable and broadcast networks were all covering live hours later on, when the Judiciary Committee was to vote to advance Kavanaugh’s election to the full Senate for a vote. But Flake stated he would only do so with the understanding that the FBI would check out the allegations versus the candidate for the next week, which minority Democrats have actually been advising.

Flake’s words had power, because it appeared Republicans would not have the votes to authorize Kavanaugh without the investigation.

Convention Center expansion cost set at $935 million

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Rendering Courtesy The $860 million task is set for the website of the former Riviera.

Tuesday, Sept. 11, 2018|12:05 p.m.

. The Las Vegas Convention and Visitors Authority board today set the maximum cost for the Las Vegas Convention Center expansion at $935 million.

The task initially was allocated $860 million. The boost shows a $10.5 million acquisition of a neighboring residential or commercial property, construction additions and changes in the building market, officials said.

The expansion will include 600,000 square feet of exhibit area and a 25,000-square-foot outside occasions terrace.

The job is being spent for with hotel room-tax income.

Wells Fargo Structure Sale of $193 Million Sets Record for Beverly Hills

StarPoint Properties Bought One of Only 5 Office Complex Bigger than 200,000 SF in City

The Wells Fargo Building, at 433 N. Camden Drive, has sold for $193 million in the most costly single office building sale in the history of Beverly Hills, California

. Real estate financial investment firm StarPoint Characteristic stated it bought a Beverly Hills, California, office building known as the Wells Fargo Structure for $193 million in an offer that marks the most costly single-asset office sale in the swank city’s history.

The structure’s initial owner and designer, Camden Properties Ltd., sold the 207,432-square-foot, Class An office complex at 433 N. Camden Dr., in the preferable “Golden Triangle” in Beverly Hills, inning accordance with CoStar data. It was built 46 years ago and refurbished in 2003, records reveal.

The Wells Fargo Structure is the fifth-biggest workplace property in Beverly Hills, and one of just five towers topping 200,000 square feet in the city, inning accordance with Stephen Basham, senior market analyst at CoStar Market Analytics.” This is, undoubtedly, a core investment market that any institutional investor would enjoy to own in,” Basham stated by e-mail. “Owners have the tendency to hold their possessions once they establish a presence here.”

The building sold for about $930 per square foot, slightly above the average sales price for an office building in the city of Beverly Hills in the past 12 months however significantly above the Los Angeles County average of about $367 a square foot, according to CoStar data.

” It’s not uncommon to see Beverly Hills assets trading for far above the general Los Angeles average,” Basham kept in mind.

Tenants in the structure consist of Wells Fargo, the law practice Jaffe and Clemens, Black Equities Group Ltd. and Barrister Executive Suites Inc.

. Paul Daneshrad, president of the 23-year-old StarPoint Properties in Beverly Hills, stated he has had his eye on the home, which is literally in eye sight of his company’s head office at 450 N. Roxbury Drive.

” Portfolio management and market timing are important to optimizing our investors’ returns and have been crucial to our success for 25 years,” Daneshrad said through email.

He added that StarPoint sold two multifamily properties for a considerable earnings in order to reinvest the capital “into the Class An office marketplace” as part of a 1031 exchange, which permits a financier to avoid capital gains taxes if the profits from a sale are reinvested into a similar residential or commercial property within a specific amount of time.

StarPoint Characteristics offered two Southern California apartment complexes, in Upland and West Covina last month for $122.25 million.

It offered a 259-unit residential or commercial property at 624 S. Glendora Ave. in West Covina for $74 million, a 43-percent increase to its purchase cost four years ago, to Benedict Canyon Equities, inning accordance with CoStar research study.

It also sold a 232-unit home at 1334 W. Foothill Blvd. in Upland for $48.25 million, a 215-percent worth boost to its purchase price of $15.18 million 17 years back. The buyer was Carlsbad-based Virtu Investments, inning accordance with CoStar information.

StarPoint Characteristic prepares to remodel the Wells Fargo structure, including its indoor and outdoor areas, update workplaces, and transform a fourth-floor, 6,500-square-foot deck to an al fresco lobby that will include sculpture gardens and a new fa├žade.

Bob Safai, establishing partner and president of Madison Partners, was the listing broker for the sale.

Karen Jordan, Los Angeles Market Reporter CoStar Group.

New Haven-Area Rentals Bring $136 Million in Largest House Sale in Connecticut History

Jones Street’s Purchase of Town Stroll Sets New Record for Nutmeg State, Though a $165 Million Apartment Sale in Downtown New Sanctuary May Not be Far Behind

Boston home designer Jones Street Investment Partners has actually closed on an apartment complex near New Sanctuary in a deal that signs up as the largest single multifamily sale ever in the state of Connecticut, though the record may have a brief run.

Jones Street paid $136.5 million, or about $179,000 per system, for the Town Walk at Hamden Hills, a vast 764-unit, garden-style complex in Hamden. Located at 100 Town Stroll Dr., the property is about 75 miles northeast of downtown Manhattan, and simply outside New Haven.

Rental homes in Connecticut have actually cost more on a per-unit cost basis. However the Town Walk is the most significant pure dollar rate paid in the state for any single house residential or commercial property, according to CoStar data and area brokers.

Until now, the record had been $134.7 million. That’s what Capri Investment Group of Chicago paid for the 101 Park Location apartment or condos in Stamford, Connecticut, in January 2014. That equated into $401,000 per system for the 336-apartment complex.

Home to Yale University, Quinnipiac University and the University of New Sanctuary, the city is a college town, with education and health services as the most significant employment sectors. Neither sector is renowned for its increasing development, and the regional economy shows that with a few of the greatest unemployment rates in the Northeast, inning accordance with CoStar research.

Nevertheless, development of brand-new apartment or condos has actually been nearly minimal over the last few years, keeping the vacancy rate stable and low.

However, there are 2 future advancements proposed in New Haven that might be market changing. Northland Investment Corp. has actually started demolition of an aging real estate project called Church Street South. The Newton, Massachusetts-based designer is seeking to construct a mixed-use advancement with about 1,000 apartments. Work simply began this spring.

And at 275 South St., the site of the former New Haven Coliseum arena, the city of New Haven has actually selected a Canadian designer to re-develop a site for another 1,000 apartments. LiveWorkLearnPlay, of Quebec, intends to begin deal with the task next spring.

Hamden belongs to the relatively little however constant New Sanctuary home market. The typical job in the market is 4.5 percent, a notch listed below the 5.7 percent nationwide average, according to CoStar information. A great chunk of the rentals in the market are clustered around Yale University.

Though it sets the watermark for now, Town Walk’s pricing record might not last long. CBRE is presently marketing 360 State St. in downtown New Haven. That 500-unit, 32-story tower is expected to bring in bids of $165 million, or more.

Established in 1992, the Town Walk neighborhood is now about 95 percent rented. However the age of the residential or commercial property may make it ripe for some unit improvements that could boost rents.

The homes are a mix of one- to three-bedroom systems, with walk-in closets, washers and clothes dryers and open kitchen areas with white appliances. The property’s facilities consist of tennis and racquetball courts, a swimming pool, park and fitness center.

HK Group’s Matthew Keefe and Ricardo Cordido brokered the sale for Baker Residence, an owner-operator based in White Plains, New York City.

For more details on the sale of Town Walk, please see CoStar Compensation # 4492593.

Genuine Brands Group Makes $35 Million Bid for Brookstone Ahead of Auction

Genuine Brands Group has offered to purchase Brookstone’s staying possessions.

A licensing company understood for purchasing up formerly struggling retail brands is trying to resuscitate device and gifts chain Brookstone, which said it plans to close 101 mall stores.

Authentic Brands Group, which has actually been referred to as a “hospital” that brings back iconic brand names, made a $35 million initial bidder deal today to obtain the assets of Brookstone, the retailer that declared Chapter 11 bankruptcy defense this month.

Brookstone announced it would close all 101 of its shopping mall shops and look for a purchaser for its 34 shops located in airports throughout the nation. It stated in a statement that Authentic Brands’ proposal “includes an expressed interest in identifying a partner to keep and make the most of Brookstone’s renowned retail organisation.”

Brookstone, based in Merrimack, New Hampshire, called the quote a “baseline” ahead of a set up Sept. 24 auction “that goes through greater and better deals.” The company said it expects the auction to be competitive.

Genuine Brands Group is a New York City-based brand advancement, marketing and home entertainment business. It owns 33 brand names, consisting of Hart Schaffner Marx, Hickey Freeman, Juicy Couture, Aeropostale, Shaquille O’Neal and Marilyn Monroe clothes, shoes or fashion jewelry lines. They deal with physical and e-commerce merchants to sell the branded items. It recorded $7.6 billion in retail sales last year, according to its website.

Expert Marie Driscoll wrote in the Robin Report, a provider of retail analysis, that Genuine Brand names resembled a “brand name hospital, where renowned brands that lost their appeal get dusted off.”

Driscoll wrote that “ABG is unencumbered with physical properties that make rotating difficult,” describing that ABG runs brands and not stand-alone stores. “This is an appealing business model and one of the disruptive forces in retail today.”

Brookstone, which was founded in 1965, reported properties of $50 million to $100 million in its insolvency filing, but liabilities in between $100 million and $500 million.

The company, which filed the petition in the Personal bankruptcy Court for the District of Delaware, had actually formerly declared bankruptcy in 2014 and was offered to financiers in China.

Editor’s note: Story has been upgraded to fix Marie Driscoll’s name.

Office Tower in Boston'' s Seaport Sells for $450 Million, Big Workplace Record for 2018

CommonWealth Partners has paid $450 million for the new office tower on Pier 4 in Boston’s surging Seaport District, a record for this year that shows the accelerating demand for the city’s historic waterfront that’s drawing major corporations from Amazon to General Electric.

The 13-story tower at 140 Northern Ave. is 372,372 square feet and is set up for completion this month. It’s known simply as Pier 4. CommonWealth, the Los Angeles financial investment firm, paid $1,208 per square foot for the tower, the highest per-square-foot price for a large-scale workplace task in the city in 2018, inning accordance with CoStar information.

The Seaport District has actually become one of the most popular Boston workplace areas in a city that has seen a boom in the sector in the decade considering that the economic downturn. For Boston, the surging need for the location belongs to an extended payoff for an enormous cleanup of the harbor started in the 1980s that was followed by the removal of an overhead expressway that utilized to cut off the section of the city.

Newmark Grubb’s capital markets group led by Rob Griffin brokered the offer for Tishman Speyer, the New York investment and development firm that developed the home.

Boston Consulting Group has actually signed on for about half the area in the tower for its brand-new global headquarters. Other renters include Cengage Knowing, a company that produces digital knowing applications, and Man Numeric, an investment company specializing in quantitative financial investment models. It’s now more than 95 percent leased.

The tower has about 30,000 square feet of retail area. Tatte, an upscale bakery, has actually already leased area there.

The building’s functions consist of a high-end fitness center, bicycle storage and a roof terrace with landscaped “living walls.” When all work is finished, it will include an acre-sized waterside park linked to the Boston Harbor Stroll.

Tishman is also establishing the final phase of their Pier 4 job, a nine-story high-end apartment project with 106 units costing $2 million and up.

Pier 4, which is near the former site of the city’s renowned seafood dining establishment Anthony’s Pier 4, is among many recent Seaport tasks developed on speculation. The neighboring 121 Seaport for instance, broke ground simply last summer. Developer Skanska USA, the New York arm of Swedish designer, had the ability to fully rent the 415,000-square-foot tower practically right away, to pharmaceutical business Alexion and software designer PTC.

Both Amazon and General Electric have devoted to space in the Seaport also. Amazon rented 430,000 square feet there in May and is thinking about another 500,000 square feet.

Inning accordance with CoStar research study, there’s about 600,000 square feet of brand-new office space under construction in the Seaport, about 4.3 percent of total inventory. Only the tech and education-heavy East Cambridge area has more advancement underway in Boston.

To learn more on the sale of Pier 4, please see CoStar Comp # 4489780.

UNLV Gets $20 Million NIH Grant Renewal to Lead Research Study Network

Thanks to a five-year $20.3 million grant renewal from the National Institutes of Health (NIH), UNLV will continue to lead a health research network of 13 universities across the Mountain West region.

The Mountain West Medical Translational Research Study Infrastructure Network (CTR-IN) began in 2013 and is designed to broaden the research study capability of UNLV and partner institutions throughout 7 states with a concentrate on improving the health of locals.

And it’s working. Throughout the very first 4 years of the program, more than $4.6 million was invested in 69 pilot grants throughout the network. These grants are designed as drivers to help scientists prepared for larger, independent grant propositions. To this day, more than $37 million has been protected through 27 brand-new awards based upon initial CTR-IN pilot grants– which totals up to nearly $8 for every $1 invested.

Among the program’s highlights:

UNLV kinesiology teacher Brach Poston utilized a pilot grant in 2014-15 to support his research on non-invasive brain stimulation to improve motor ability and knowing in people with Parkinson’s illness. He just recently earned a $421,000 grant from the NIH to continue his research study.
University of Wyoming engineering teacher Domen Novak was granted pilot grant financing in 2015-16 to enhance chauffeur attention spans with the objective of decreasing motor vehicle fatalities. The motivating results led to the professor getting a $448,000 award from the National Science Foundation for additional research.

“Faculty members’ capability to protect such a big quantity of extramural funding shows the difference the CTR-IN is making at the participating universities,” said Dr. Parvesh Kumar, UNLV School of Medicine Vice Dean of Research study and lead private investigator on the grant. “It’s stimulating additional research study facilities advancement, which is among our major objectives of this grant.”

Financing comes the National Institutes of Health Institutional Development Award (IDeA) Center of Biomedical Research Excellence. The CONCEPT program constructs research study capacities in states that historically have actually had low levels of NIH financing by supporting basic, medical and translational research study; faculty development; and infrastructure improvements.

“As an academic medical center, the UNLV School of Medicine has as part of its mission the performing of research that enhances lives,” stated Dr. Barbara Atkinson, establishing dean of the medical school. “We’re happy that Dr. Kumar was able to play a key function in the renewal of UNLV’s largest research study grant. At UNLV, we believe knowledge can be derived from questioning the status quo, discovering more about illnesses and conditions and using that knowledge to improve the health of our community.”

UNLV and its partner universities share resources and knowledge, consisting of biostatistical and administrative assistance, along with mentorship and instructional chances that encourage extra research.

The initial five-year grant was granted to UNLV in 2013. This renewal will continue funding through 2023.

UNLV is the host university for the CTR-IN. Partner organizations consist of University of Alaska– Anchorage; University of Alaska– Fairbanks; University of Hawaii– Manoa; Boise State University; Idaho State University; University of Idaho; Montana State University; University of Montana; University of Nevada, Reno; New Mexico State University; University of New Mexico; and University of Wyoming.

Fremont Street video canopy getting $32 million upgrade

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Julie Jacobson/ AP In this March 22, 2012, photo, travelers enjoy the canopy light show at the Fremont Street Experience in Las Vegas.

Monday, Aug. 13, 2018|11:52 a.m.

. A $ 32 million upgrade of the Fremont Street Experience will make one of downtown Las Vegas’ biggest attractions brighter than ever.

The upgrade will make the Viva Vision video canopy 7 times brighter and permit the LED display screen to operate 24 hours a day.

Covering 4 blocks, the electronic canopy is one of the largest video screens worldwide. It consists of 12.5 million LED lights and a 550,000-watt, concert-quality stereo.

The project is a partnership in between the Fremont Street Experience, the city of Las Vegas and the Las Vegas Conventions and Visitors Authority. It will start in February and is arranged for conclusion before New Year’s Eve 2019.

” With Fremont Street Experience bring in more than 23 million visitors a year, we’re truly eagerly anticipating seeing the brand-new energy this gives downtown Las Vegas and the positive impact it will have on the entire community,” stated Patrick Hughes, president and ceo of the Fremont Street Experience.

The canopy will also be integrating brand-new digital content and interactive aspects, such as The Key, an app that will enable visitors to post personalized messages on the screen and elect the next song or video to be played.