Posts Tagged ‘broker’

Uh, What Exactly is That Equinox Company Selling in the Pacific Stock Exchange in the Financial District?

Friday, January 4th, 2013

Here are two ads for Equinox Fitness on Pine Street what are about three yards high:

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I think things were a lot more wholesome at the Pacific Stock Exchange Building when it was the Pacific Stock Exchange. You know, back when Kevin Bacon filmed that Quicksilver bike messenger movie in 1986 before you were born. It went a little like this, with KB acting as a besuited yuppie stock broker at the PSE at Pine and Sansome.

You see, back then, everybody wore clothes and open outcry was the order of the day.

See?

Good times.

Suntory times

OMG, MUNI Sucks Even More Than You Know: Central Subway – Hush-Hush Revenue Bond Vote Coming May 1

Monday, April 30th, 2012

If San Francisco could magically get the “Subway to Nowhere” Central Subway installed today for free it would still be a bad deal for San Francisco, mostly owing the very small amount benefits it would provide to a very small number of people and the very large hole it would put into MUNI”s annual budget.

But unless the Feds help out San Francisco by cancelling funding, politically connected players such as AECOM are all set to make a mint off of this project. Oh well.

Anyway, San Francisco officials are still trying to reassure the Feds about how great this horrible project is going, so, as of tomorrow, we’ll be on the hook for another $100,000,000, or so, to make up for the fact that California doesn’t want to chip in the money.

Check it out, from SaveMuni.com:

“On May 1, 2012, the San Francisco Municipal Transportation Agency (MTA) Board will be asked to approve Central Subway revenue bonds, of undetermined amount, to plug a large hole that has developed in the Central Subway budget. This is a very risky course of action.

A shortfall of between $61.3 million and $140 million has now appeared in the project budget. In order to make up for this substantial loss of previously anticipated State of California funding, the MTA staff is asking its Board and the San Francisco Board of Supervisors to approve a revenue bond sale of undetermined amount. On the agenda of the May 1, 2012 MTA Board meeting, the bond authorization is scheduled as Item 10.4 which is unaccountably included under the Board’s consent calendar rather than its regular calendar. In the Agenda packet, the staff attributes the need for the revenue bond sale to “uncertainty regarding HSR in California.” This statement is false and misleading, for the reasons set forth below.”

Here are the deets:

“SaveMuni.com
April 30, 2012

MTA’s Stealth Maneuver to Commit Additional City Funds to the Central Subway

On May 1, 2012, the San Francisco Municipal Transportation Agency (MTA) Board will be asked to approve Central Subway revenue bonds, of undetermined amount, to plug a large hole that has developed in the Central Subway budget. This is a very risky course of action.

MTA Board Agenda, Tuesday, May 1, 2012: See Item 10.4.

Particulars

The cost of the MTA’s Central Subway project has ballooned from $647 million to the current estimate of $1.58 billion.i The original plan was for $983 million of this total to come from the federal government, $471 from the State of California and $124 million from San Francisco’s Prop K sales tax fund.

In attempting to sell the subway to the public, MTA has repeatedly called the public’s attention to its “success” in leveraging a mere $124 million City & County contribution into a $1.58 billion subway.ii However, a shortfall of between $61.3 million and $140 million has now appeared in the project budget.

In order to make up for this substantial loss of previously anticipated State of California funding, the MTA staff is asking its Board and the San Francisco Board of Supervisors to approve a revenue bond sale of undetermined amount. On the agenda of the May 1, 2012 MTA Board meeting, the bond authorization is scheduled as Item 10.4 which is unaccountably included under the Board’s consent calendar rather than its regular calendar. In the Agenda packet, the staff attributes the need for the revenue bond sale to “uncertainty regarding HSR in California”. This statement is false and misleading, for the reasons set forth below.

The MTA is caught between a skittish Federal Transportation Administration (FTA) appropriately worried about the MTA’s financial ability to handle the Central Subway project and a huge shortfall in the non-federal share of the project budget. The MTA apparently believes the solution to this problem is to skim millions of dollars a year from already overburdened Muni revenues, in order to sell revenue bonds as necessary to make up for the loss in State capital—all in hopes that the action will reassure the feds and therefore put the hoped-for federal grant back on track.

The best that could be said of the MTA’s plan is that it is extremely risky. By far, the most important element of that risk is that the costs of servicing the revenue bonds, coupled with an indeterminate amount of project overrun (estimated by CGR Management Consultants to be as high as $422 million), could result in unacceptably high Muni fare increases and/or unacceptably damaging Muni service cuts.”

Ever more deets after the jump

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A Plea From San Franciscans to Congressional Republicans: Please Save Us From the Corrupt, Useless Central Subway

Friday, March 16th, 2012

I’ll tell you, I don’t exactly know how San Francisco managed to get (basically) free water and (basically) free electricity through flooding half of the good part of the Yosemite National Park area, but somehow, through bribery, corruption or whatnot, we got a sweetheart deal to take advantage of Hetch Hetchy in perpetuity.

Of course the right thing to do would be to start sharing the benefits of Hetch Hetchy with the rest of California, or at least pay market price for what we’re getting, or just tear down the damn dam altogether. Something like that.

But the single-party state of San Francisco doesn’t want to do anything like that. The single-party state of San Francisco wants to hold on to the Hetch Hetchy deal for as long as possible. Maybe some Republicans can help us find the right path…

Speaking of which, the federally-funded Central Subway [cough, BIG DIG II, cough - and you know, Boston's Big Dig is different because it had a chance to actually benefit people] project is useless and horribly corrupt. It will burden San Francisco for decades, whether it gets used or not.

Why don’t we stop this thing [cough, BRIDGE TO NOWHERE, cough] right now? And Feds, why not just call it even? So we won’t pay you back the $200,000,000 but you all will end up saving big bucks.

It’ll be up to you, Congressional Republicans, to save us from wasting money on the Central Subway [cough, ROAD TO NOWHERE, cough - hey, I bet you didn't know about that one!]

The Central Subway to Chinatown is the replacement for our long-dead Embarcadero Freeway to Chinatown. And somehow, calling the Central Subway the Subway to Nowhere is considered racist and hurtful, but calling the Embarcadero Freeway the Freeway to Nowhere, well, that’s good times. See?

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Off we go:

“YOUR TURN!  RE-SCRUTINIZE THE CENTRAL SUBWAY BOONDOGGLE.

Everyone should re-scrutinize the Central Subway—in light of growing Muni deficits and cutbacks.  The Federal Transit Administration (FTA) hasn’t granted final approvals.  And Congress has a mandated 60-day review period.  Instead, let’s shift hundreds of millions of dollars into citywide Muni.

PETITION:  http://tinyurl.com/No-to-CentralSubway 

The Central Subway means more Muni service cuts and fare/ fee increases. 

The Central Subway Project has drained over $500 million of state and local funding from the citywide Muni system.  Facing a $19.6 million deficit in 2012 and $33.6 million in 2013, San Francisco’s Municipal Transportation Agency (SFMTA) threatens more service cuts and fare/ fee increases—after cuts/ increases in 2009 and 2010.  SFMTA projects $1.6 billion in budget deficits and $25.4 billion of capital needs over the next twenty years.  While Muni infrastructure crumbles, Muni’s $1.9 billion in deferred maintenance is a ticking nuclear bomb.

http://www.sfexaminer.com/local/transportation/2012/01/sfmta-identifies-24-billion-long-term-project-needs

Muni wouldn’t have budget deficits—if scarce dollars were used wisely.

The Central Subway Project has usurped over $500 million of state/ local funds from system-wide Muni needs—exacerbating system meltdowns and rider discontentment.  Service cuts, fare increases, parking/ meter rate hikes, painful traffic citations and frustrated Muni riders have subsidized the Central Subway Project.  No degree of service cuts and fare/fee increases will offset Muni’s mismanagement of assets and existing funds.

PROP K 2003 has higher, legally-mandated citywide Muni priorities.

http://www.sfcta.org/content/view/11/27/

Instead of the tiny 1.7 mile Central Subway, hundreds of miles of Transit Preferential Streets can be created with the Central Subway’s existing state/ local funds—benefiting all Muni riders, taxpayers and neighborhoods.

With its uniqueness, character, Mediterranean-scale, geographic beauty and topographic splendor, San Francisco’s northeast quadrant is a natural pedestrian realm.  The distance from Downtown to Fisherman’s Wharf is 1-½ miles.  Columbus Avenue is 1 mile long.  Washington Square is 1 mile from the Powell BART/Metro Station.  Chinatown is ½ mile from Market Street.  As seen in cities throughout the world, these are distances opportune for a pulsating street life.

From an urban planning perspective, robust pedestrian and surface transit assures wider economic vitality—with very efficient costs and more immediate jobs.

The Central Subway’s own reports depict an abysmal project.

http://tinyurl.com/CS-Charts  .

CPUC (California Public Utilities Commission) cites pervasive Muni safety Issues. 

In the 3-6-12 SFMTA Board Agenda:  “Conference with Legal Counsel:  Existing Litigation—Investigation into the Operations, Practices and Conduct of the SFMTA Regarding Ongoing Public Safety Issues, California Public Utilities Commission, I. 11-02-017, Issued on 2/24/2011.”

CPUC PRESS RELEASE:

http://docs.cpuc.ca.gov/published/News_release/131263.htm :

“The California Public Utilities Commission (CPUC) today began penalty considerations based on CPUC staff allegations of pervasive safety concerns regarding the San Francisco Municipal Transportation Agency’s (SFMTA or Muni) light rail system. This action was taken after CPUC safety inspectors found numerous safety violations on Muni’s light rail system in San Francisco. In their report to the CPUC, the inspectors have alleged that SFMTA has been chronically unresponsive to alleged violations and other findings.”

PUBLIC SENTIMENT:

http://www.gjel.com/blog/san-francisco-muni-faulted-by-california-puc-for-safety-violations.html :

“If you’re a regular Muni rider, you know that delays are common on weekday commutes to and from work. You might not know, however, that San Francisco’s transportation agency has routinely fallen short on safety inspections for the past year and a half, according to a report released this week by the California Public Utilities Commission.”

DON’T LET LOBBYISTS OVERRIDE YOUR INTERESTS.

If the Central Subway were truly a sound transportation project, than politicians, public officials and lobbyists wouldn’t be needed to twist the arms of the public and decision-makers.  Instead, a multi-million dollar media campaign has pitched the Central Subway like snake oil and subprime derivatives, using Muni funds to lobby Muni’s own customers, governing bodies and officials.

CITIREPORT:  “Lobbyists Turn Millions into Billions”:

http://www.citireport.com/2012/02/lobbyists-turn-millions-into-billions/?utm_medium=email&utm_campaign=Money+and+Politics+The+Year+That+Ended&utm_content=Money+and+Politics+The+Year+That+Ended+CID_99d18a4d35f8a81996ebeb6e950a1883&utm_source=Email+Newsletters&utm_term=Influence+Peddlers+Make+Millions+at+City+Hall

“Money Follows Controversy

The top ten clients who promised payments for lobbying surfaces some of the most controversial issues at City Hall.

California Pacific Medical Center promised the most in payments for lobbying, at $750,985. Aecom, which is leading the Central Subway and other projects, ranked second at $360,000. Third was Millennium Partners, also at $360,000.”

 NEW YORK TIMES:  “Out Of Office, but Not Out of Things to Say”:

http://www.nytimes.com/2012/02/15/us/willie-brown-remains-a-san-francisco-power-broker.html?_r=1&adxnnl=1&adxnnlx=1330078166-8/XmgibML60WcphWNXyz4g

“His [former Mayor Willie Brown] law firm represents prominent clients, among them Aecom, an engineering firm involved in San Francisco’s central subway project, and the California Online Poker Association.”

EPOCH TIMES:  “San Francisco Mayoral Debate gives Glimpse of Chinatown Politics”:

http://epoch-archive.com/a1/en/us/sfo/2011/10-Oct/06/A3_20111006_NoCA-US.pdf

“CCDC [Chinatown Community Development Center} also gets a juicy subcontract related to the Central Subway project, including $30,000 a month to spend on ‘community outreach’.”

WALL STREET JOURNAL:  “The Billion-Dollar-A-Mile Subway Makes Perfect Sense”:

http://online.wsj.com/article/SB10001424053111904583204576542691025904076.html?

NOTE:  Even while the Federal Transit Administration (FTA) is evaluating the Central Subway project, the FTA Administrator defended the project in the Wall Street Journal—responding to an Editorial that blasted the Subway Boondoggle. The conflict of interest is worsened by transit data that shows the Central Subway decreasing transit service levels and travel times for tens of thousands of riders.

Instead of Muni service cutbacks, fare/ fee increases and crumbling infrastructure, imagine how the Central Subway’s hundreds of millions of dollars in existing state/ local funds could revitalize the citywide Muni System.  Political leaders do pay heed to well-reasoned arguments of their constituents.

Join with SaveMuni.com in lobbying Washington and Sacramento.

www.SaveMuni.com

And if the blue sky mining company won’t come to our rescue
And if the sugar refining company won’t save us
Who’s gonna save us?

Via Socketsite: Gavin Newsom’s City Residence is Officially For Sale – A $2.75 Million Asking Price for 1581 Masonic

Friday, July 8th, 2011

Of course Socketsite (“San Francisco real estate tips, trends, and the local scoop”) is all over this new listing for 1581 Masonic Avenue, you know, the place up in Ashbury Heights that was purchased just two years ago by former Mayor Gavin Newsom and former First Lady Jennifer Siebel Newsom.

The purchase price back then was $2,738,000, so that means that they’ll yield a “profit” of $12,000 if some lunkhead actually pays the asking price that was posted last night: $2,750,000.

They say it’s lovely on the inside:

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Do you think 3000 square feet is enough room for a four-person nuclear family in San Francisco? You make the call:

Contact Barbara J. Callan or Robert R. Callan, Jr. to get your offer in.

OMG, Here’s Your Chance to Get A Condo at the Ritz-Carlton Residences – Live Internet Auction December 10th!

Wednesday, November 10th, 2010

Unit 1502 at the Ritz-Carlton Residences on Market Street could be yours if you win the live Internet auction coming up on December 10th, 2010. That’ll be just in time for Christmas, Hanukkah, Kwanzaa and Three Kings Day!

But check it:

“Given that this is a bank-owned condominium, the commitment to sell is evident.”

Seems like the seller couldn’t be any more motervated, huh?

Just think, this could be yours for a million bucks or so:

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All the deets:

Bank-Owned Ritz-Carlton® Condominium in San Francisco, California to Be Sold at Auction By Concierge Auctions

Live auction of luxurious downtown condo to take place on December 10

SAN FRANCISCO, Nov. 10, 2010 — A bank-owned condominium, located within the luxurious Ritz-Carlton® Residences on historic Market Street in the heart of downtown San Francisco, will be sold during a live auction on December 10, Concierge Auctions has announced. Originally listed for $1,274,490, there is no minimum bid required to participate. The sale is being conducted in cooperation with listing broker Jeffry Peargin of Pacific Union International, an affiliate of Christie’s Great Estates.

“I’m excited to be working alongside Concierge Auctions,” stated Peargin. “Given that this is a bank-owned condominium, the commitment to sell is evident. With the highest-caliber amenities of the Ritz-Carlton® and immediate access to world-class museums, upscale shopping, and gourmet restaurants, we’re confident we will find the ideal owner for this gorgeous residence.”

Unit 1502 within the Ritz-Carlton® Residences is a 1,195-square-foot, classic luxury condominium boasting two opposing master suites with unparalleled views of downtown San Francisco. The property contains two and a half bathrooms with modern luxury finishes throughout, including wall-to-wall carpet in the bedrooms, polished hardwood flooring in the living areas, Italian-marble flooring and hand-hewn tiles in the kitchen and baths, and double-paned windows for sound minimization. An open gourmet chef’s kitchen includes top-of-the-line amenities – Kohler fixtures, granite countertops, a Viking refrigerator and Miele dishwasher. Each bathroom also has Kohler fixtures, and the convenient laundry closet is outfitted with a GE washer and dryer.

Constructed more than a century ago by Chicago architects Daniel Burnham and John Root as the original Chronicle Building, the West Coast’s first skyscraper, this historic structure eventually transformed into The Ritz-Carlton® Club and Residences, San Francisco. Owners of the 101 individual residences enjoy access to unrivaled services and amenities, including private lounge access, wine storage, valet parking, a fitness center and full service doorman. The Ritz-Carlton® Residences are perfectly situated in the heart of San Francisco among some of the most prestigious addresses in the world, steps from significant locations including the San Francisco Museum of Modern Art (MOMA), the Jewish Museum, the Yerba Buena Center for the Arts and the Giants ballpark. The Ritz-Carlton® Club is mere blocks from the Powell Street cable car turn-around and is only 20 minutes from the San Francisco International Airport; 30 minutes from the Oakland International Airport; 25 minutes from Sausalito and Berkeley; and one hour from Napa and Sonoma.

“At Concierge Auctions we are specific about the properties we represent,” stated George Graham, CEO of Concierge Auctions. “Our success is predicated upon partnering with the most premier luxury product, and it doesn’t get any more exclusive than the Ritz-Carlton® Residences. The new owner will name their price amongst other bidders during a live auction in an open, transparent forum, and in less than thirty days will be enjoying the utmost in luxury and amenities on one of our nation’s most sought-after cities.”

The live auction of Unit 1502 within the Ritz-Carlton® Residences, San Francisco will be held on December 10. No minimum bid is required to participate. A 2.5-percent commission is offered to the buyer’s broker. See Auction Terms and Conditions for full details. The property is open for preview daily by appointment from 1 to 4pm. To schedule a preview, call 877-214-3785. For more information, visit www.SanFranRitzAuction.com.

About Concierge Auctions: Concierge Auctions is the preeminent luxury real estate auction firm serving high-end sellers nationwide through an accelerated marketing process that obtains fair market value for high-end properties in a 60-day timeframe. As a preferred auction partner to Sotheby’s International Realty® and other luxury brokerage firms nationwide, the company has executed auctions from New York to Hawaii and hosts a database that includes more than 100,000 luxury real estate buyers and agents from all 50 states and 38 countries and territories.  The principals of Concierge Auctions have been involved in the transfer of more than $2 billion in luxury real estate sales over the past 10 years.  For more information, call 888-966-4759 or visit www.ConciergeAuctions.com.

Realtor Malcolm Kaufman Knows How to Use the Hidden Porta-a-Potties of Presidio Heights

Friday, October 8th, 2010

Normally, I’m not into artifice ‘n stuff, but I like how McGuire Real Estate’s Malcolm Kaufman hangs his signs.

I don’t think he’d have his name put on a port-a-john, but this sign on the wooden lattice hiding a port-a-john, well, it almost looks classy. Srsly.

See?

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Cheers 3x.

Real Estate Salespeople Don’t Produce Anything, So How Can They Be “Top Producers?”

Wednesday, April 21st, 2010
 
Work with me here. The Question of the Day is this:
 
Why do Real Estate Salespeople and Brokers refer to themselves as “Top Producers” when, in actuality, they don’t produce anything?
 
Producers “manufacture crude materials into articles of use.” Right?
 
“Main Entry: pro·duc·er  Pronunciation: \prə-ˈdü-sər, prō-, -ˈdyü-\ Function: noun Date: 1513
One that produces; especially : one that grows agricultural products or manufactures crude materials into articles of use”

So, let’s compare former President Jimmy Carter with, I don’t know, some parasite that doesn’t produce anything, how about a tapeworm?

See? Jimmy Carter takes wood and nails ‘n stuff and makes useful habitats. Conversely, the tapeworm calls itself a “top producer” because it eats six percent of the food that passes it by and then issues press releases about how it’s a “top producer.”

To review, taking commish out of a real estate transaction doesn’t produce anything. If you sell a house to somebody and then help sell it to someone else a year later, you have not doubled your “production.” There’s still just the one house, and it was produced by somebody else.

Maybe you’re necessary for society and maybe you’re good at your job, but that doesn’t make you a “producer.” Try to find a different term.

Just saying…

Grubb & Ellis Company Announces Top Producers for 2009 at Annual Circle of Excellence Awards

SANTA ANA, Calif., April 21  — Grubb & Ellis Company (NYSE:GBE), a leading real estate services and investment firm, today announced that Bruce McNair, executive vice president, Office Group, of the company’s Washington, D.C., office was the company’s No. 1 producer and top Office Group professional for 2009.

McNair received both honors at Grubb & Ellis’ Circle of Excellence Awards. The annual event, which was held in Scottsdale, Ariz., April 13-15, recognized Grubb & Ellis’ top producers

Bug Real Estate – They’re New in Town and They Love Dogs

Friday, June 12th, 2009

Get it? Bug! Real Estate people drive around in Volkswagen Bugs. Isn’t that precious? When I was a kid, all we had to ogle at were pink Mary Kay cars.

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And even while driving down the Interstate at 55 per, they still have time to show doggies a little love.

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Think about that the next time you mock a real estate broker or salesperson.

Welcome to the 415, but stay out of the west side. You should do fine.