Monthly Archives: October 2018

Fortress Investment Group Buys the Famous Tiffany Building

The New York-based asset management firm Fortress Investment Group recently made a multimillion-dollar purchase that could pay off big for investors. The Tiffany building at 259 Worth Avenue was built around 1950. In its earlier years, the Frances Brewster boutique operated successfully out of the business for decades. Fortress Investment Group plans on turning the building into something that will generate solid profits for investors for years to come.

Tiffany & Company

Tiffany & Co. has been leasing space in the building for almost 3 decades. Worth Avenue, the street on which the Tiffany Building is situated has been the place for the rich and famous to shop for nearly a century. Now, after the election of Donald Trump, the complex is expected to skyrocket in popularity and value as it is located about a mile and a half from Trumps Mar-a-Lago resort. The building’s original owners were the Madden Family, a local family that was at one time one of the wealthiest in the community. Officially, the Tiffany building was owned by Madden Family Associated Ltd. The property was estimated by The Palm Beach Post expected the property to fetch a hefty sum when it was listed on the market back in 2016. Before its purchase, it was estimated to fetch 40 million dollars, a price that breaks down to about 2,442 dollars per square foot. The property was overvalued by about 50%, as Fortress Investment Group procured the real estate for only 20 million dollars, about 1,221 dollars per square foot. Even at its new value, the cost per square foot is still astronomical in retrospect.

Fortress Investment Groups Plans For The Tiffany Building

Fortress Investment Group has been purchasing property around planned train stations in these communities. The department of transportation in Florida has announced plans to build a high speed (168 mph) rail system connecting Tampa and Orlando. Fortress plans on turning the Tiffany Building into a professional building and will more than likely be highly sought after leasing space for other companies looking to do business in the area.

Learn more: https://www.inc.com/profile/fortress-investment-group

The AIA’s Robert Ivy Talks About Why It Behooves People To Join A Professional Organization

Being in a professional organization can lend a real boost to your career, Executive Vice President and Chief Executive Officer Robert Ivy of the American Institute of Architects says. It gives professionals a way to network, become more educated, gain access to resources, get professional recognitions, and really help to find out about new job opportunities.

He says that today there are over 92,000 professional and trade organizations in the United States alone. Robert Ivy says that most of these are a fantastic source of education that has been specifically tailored to meet the needs of these organization’s members. People who are just starting out can really benefit from this information as can more experienced people who don’t want to reinvent the wheel. Some of these organizations even do original research and then release it on the website or in a newsletter. See Related Article at archinect.com

Professional organizations are a great way to build connections with others in your profession or related fields of work. A very good way of doing this is by attending an annual conference where anywhere from hundreds of people to thousands congregate and meet one another. At these events, you can attend workshops and you can strike up friendships during get-togethers like a happy hour.

If you are a member of a professional organization that opens you up to collecting credentials, Robert Ivy says. You can also show that you take your profession very seriously when you are a member of this type of organization. Some, like the AIA, also have a code of ethics which gives both clients and hiring managers peace of mind that you will act professionally when doing work for them.

He says that the annual dues to join one of these organizations go from around $50 a year up to $1000. Some of these organizations also offer different levels of memberships with different associated costs. The AIA charges more for members who are in a place like Los Angeles or New York City while they don’t charge as much in a less active location such as in Nebraska.

Before taking charge of the AIA, Robert Ivy had been an architect and an author and editor-in-chief. He managed Architectural Record which is now considered to be the authority when it comes to architecture and great design. Earlier in his career, he worked as an architect at Dean/Dale, Dean & Ivy where he was a founding principal.

Learn more: https://www.contractdesign.com/news/people/robert-ivy-receives-noel-polk-lifetime-achievement-award/

 

Stream Energy: Doing More For Dallas

The city of Houston, Texas, had a rough time when Hurricane Harvey ripped through the area, leaving roughly 56 inches of water in its wake and devastation that many couldn’t fathom. It was this hardship that caused Dallas-based direct energy seller, Stream Energy, to spring into action. Although they were not the only ones to devote time, energy, and funds to the recovery of Houston, they were one of the first to do their part.

 

Stream Energy is no stranger to giving back, as they have built firmly bonded relationships with both Habitat For Humanity and the Red Cross. They also encourage their entrepreneurial staff to do the same by paying them to develop strong relationships with clients and providing a plethora of products and services to those clients; Employees who can do this consistently and successfully also receive a commission for their hard work. Recently, Stream Energy created their charitable branch, Stream Cares, to which both corporate level employees and direct sellers can choose the causes they wish to support.

 

It seems that one of the biggest causes that employees of Stream Energy are passionate about is helping the homeless population in their city of Dallas, Texas. By working closely with the non-profit organization, Hope Supply Co., Stream Energy employees were able to pay for the entrance fees and meal costs for over 1,000 homeless children to attend the Splash for Hope event. The event was hugely successful and was the first time that many of the children in attendance had visited a waterpark. Hope Supply Co. is able to donate many supplies that children need to have a meaningful childhood, such as diapers, clothing, supplies for school, and so much more thanks to companies like Stream Energy.

 

Another example of the generosity the staff at Stream displays is their quick action to assist the people of North Texas who lost everything in the tornadoes that ripped through their neighborhoods the day after Christmas, 2016. The associates working for the direct energy seller took matters into their own hands and worked closely with the Salvation Army to raise thousands of dollars for the people of North Texas, and the corporate level matched them dollar for dollar, making all the difference in thousands of peoples lives.

 

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