Posts Tagged ‘lease’

Here’s One Problem, Just One Problem, With Tesla Motors’ Buyback Scheme: High Mercedes S Class Depreciation

Tuesday, April 2nd, 2013

Here’s the news of the day:

“Working with some of the largest and most respected banks in the country, Tesla has been able to create a financing product that combines the surety and comfort of ownership with all the advantages of a traditional lease.

US Bank and Wells Fargo will provide 10% down financing assuming a good credit rating, and the down payment is covered or more than covered by US Federal and state tax credits ranging from $7,500 to $15,000. New Jersey, Washington and DC also have no sales tax for electric vehicles. These advantages are not available when leasing.

After 36 months, you have the right, but not the obligation to sell your Model S to Tesla for the same residual value percentage as the iconic Mercedes S Class, one of the finest premium sedans in the world, made by Daimler (also a Tesla partner and investor).

Not only is Tesla guaranteeing that resale value, but Tesla CEO Elon Musk is personally standing behind that guarantee to give customers absolute peace of mind about the value of the asset they are purchasing.

We also encourage you to think about Model S ownership in terms of true out of pocket cost. When considering the savings from using electricity instead of gasoline, depreciation benefits, and other factors, buyers will save hundreds of dollars per month compared to owning a gasoline powered car.”

The problem with this, or rather, one of the problems with this, is that Mercedes Benz S-Class cars have horrible resale value.

Just horrible!

Check it.

So if Elon Musk really wants to put his money where his mouth is, why doesn’t he use cars more desirable and practical for the residual value percentage guarantee?

How about the Nissan Versa or Honda Fit?

Just askin’.

And the Big New Tenant at the “Flagship” 800 Market Building Right Next to the Union Square Apple Store is … GameStop?

Wednesday, August 15th, 2012

Get all the deets below.

Do people still buy video games in a box and then go home and shove a rotating disc into their PCs? Really? News to me.

Anyway, here’s the new sign:

Click to expand

You’d think a big retailer could just slot right in there and make money what with all the foot traffic at Fourth and Market, but I guess the particularities of doing business in the 415 make 800 Market a garden of bones.

Anyway:

GameStop Relocating to 800 Market Street in San Francisco, Joins Diesel as Co-Tenant

July 11, 2012 –Michael Seigel and Sharon Carmichael with Terranomics Retail Services represented tenant GameStop, Inc. in the lease of 4,630 square feet of inline retail space on the ground floor of 800 Market Street in San Francisco. GameStop, the world’s largest multichannel video game retailer with a network that includes 6,614 stores worldwide, is relocating its Powell Street store, with plans to take occupancy at its new San Francisco flagship location on Market Street in September. The gaming company will join Diesel as a co-tenant in the mixed-use building, known as the California Savings Building, composed of office over street-level retail and owned by INVESCO Real Estate. GameStop’s new space is positioned two blocks from Union Square and the Moscone Center. GameStop currently has three other locations in San Francisco.”

Icebreaker, That Upscale Merino Wool Designer Where Orlando Bloom Buys His Underwear, Opens in San Francisco

Saturday, November 26th, 2011

[UPDATE - Here's the official spiel:

"Icebreaker makes Outdoor, Running, Cycling, Travel, Kids, Underwear and Lifestyle apparel from handpicked merino wool born in the Southern Alps of New Zealand. It's non-itch, easy to wash, lightweight, versatile, easily packable and no-stink (because merino is naturally anti-mircrobrial, you can wear it for days ow weeks without a wash).

Sustainability has been part of Icebreaker's ethos since the start. It has strict animal welfare and farm standards, and has a traceability program (called "Baacode") that enables people to use a unique code sewn inside their garment to trace the fiber back to the sheep stations that grew it all the way through its supply chain."

And OMG, it's "Ramotaur" and "Nature Girl" on the streets of SF:

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And one last thing:

"Ramotar will be appearing next weekend Friday, Saturday, Sunday, 12/2-12/4, 12pm-3pm, fliers in key SF locales, Union Square, Embarcadero, Ferry Building, etc. Also Friday and Saturday, 12/9-12/10, 12pm-3pm in the same locales."

O.K. then.]

So Icebreaker is that fashionable merino wool store from New Zealand where actor Orlando Bloom goes shopping for woolens

sometimes along with his gf, model Miranda Kerr:

Well guess what, this was the week that Icebreaker opened its first “TouchLab” store in Northern California. It’s down at 170 Post in Union Square.

See?

OMG, is that a wool chandelier?

All right, find out about the landlord, Grosvenor Americas, after the jump.

See you there!

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The Difference Betwixt the Old Mayor and the Current Interim Mayor is 30-50 IQ Points and the Choice of Official Staff Car

Wednesday, July 6th, 2011

Remember the former mayor’s P.O.S. Chevy Tahoe with an engine bigger than that found in the city buses from the failed CultureBus program?

It was necessary for his safety or something. Oh, here it is, parked in a bike lane for an hour or two on a Healthy Saturday, or a Healthy Sunday, or a Healthy Holiday – mem’ry fades…

Anyway, that machine is long gone so here’s the new ride for our new “interim” Mayor – it’s a Chevy Volt plug-in hybrid.

See? Mr. Pig’s Wild Ride:

Click to expand

All right, Remedial Ed:

The Chevrolet Volt is Not an Electric Car – Repeticion: El Chevy Volt No Es Un Coche Electrico

Are we on the same page now? Good.

Let’s see here, even if you keep this rig charged up and topped off with juice all the time, it’s going to burn fuel from its gas tank, right? I mean at least some of the time. (The people at Government Motors recommend a half a tank of fuel for people who intend to drive around mostly in electric mode.)

Regardless of what anybody tells you, this machine will burn gasoline – it has to, by design. It’s programmed to do so, actually.

So avert your gaze here:

“The Mountain Mode option gathers an energy reserve in the lithium-ion battery so that the car has the full power of both the gasoline engine and the electric powertrain behind it for, say, navigating a series of San Francisco inclines.”

Or I don’t know, just drain every last drop of gas from the tank and fill it up with sawdust and then see how far you and your Volt make it, I don’t care.

Or, just get a Nissan Leaf – that probably would have been the better move, considering the stated parameters.

Oh well.

Anyway, those are the differences between the old and new mayors so far – nothing else has changed.

The Chevrolet Volt is Not an Electric Car – Repeticion: El Chevy Volt No Es Un Coche Electrico

Monday, April 25th, 2011

[UPDATE: Well, I spoke too soon - Pigs, Giraffes, & Elephants just decided to foot the bill for their departing CEO. See below]

I don’t know, the problem with talking about “GM’s race to develop the electric Chevrolet Volt” is that the Chevrolet Volt isn’t an electric car.

It’s a plug-in hybrid, just like those familiar Toyota Priuseses you see being driven (badly) all over town.

So, calling the Volt “electric” is muy prohibidado, ‘specially for the writers at the New Yawk Times.

A PG&E exec motoring through the Inner Richmond to the glamorous West Bay suburbs of the 415 – let’s hope he won’t get $35 million of our money* when he screws something up/kills people and then quits/gets fired.

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(Garish decals removed, you’re welcome)

*”PG&E Shareholders to Pay Pension Benefits for Retiring CEO

SAN FRANCISCO, April 25, 2011 /PRNewswire/ — Earlier today, PG&E Corporation’s (NYSE: PCG) Board of Directors voted to amend the pension benefits for retiring Chairman, CEO and President Peter Darbee to provide that all pension benefits will be funded by the Corporation’s shareholders.

“With Mr. Darbee’s decision to retire, the Board is fully committed to taking steps that demonstrate the company is moving in a new direction,” said Lee Cox, the Board’s Lead Director. “Renewing public faith in PG&E is critical to our future. Today’s decision is another opportunity to show customers, regulators and others that PG&E is listening closely and taking action to earn back their confidence.”

The company announced last week that Darbee will retire effective April 30, 2011. Effective May 1, Cox will serve as interim Chairman, CEO and President of PG&E Corporation until a long-term successor to Darbee is onboard.

PG&E Corporation is a Fortune 200 energy-based holding company, headquartered in San Francisco. It is the parent company of Pacific Gas and Electric Company, California’s largest investor-owned utility. PG&E serves more than 15 million Californians throughout a 70,000 square-mile service area in northern and central California. For more information, visit the Web site at http://www.pgecorp.com.

Chinatown’s Portsmouth Plaza Parking Corporation Gets a 40-Year Lease for the Great Garage of Kearny Street

Wednesday, February 16th, 2011

Our 3.5-star-rated Portsmouth Square Plaza Garage has a new 40-year lease. Hurray?

Is this arrangement a “Transit First” kind of deal?

Sure, why not.

Will this arrangement please Mayor of Chinatown Rose Pak?

Only Time Will Tell.

Anyway, all the deets, below.

“Board of Supervisors Approves New Lease with Community non-profit Portsmouth Plaza Parking Corporation for the Portsmouth Square Garage - Chinatown based non-profit will operate the Portsmouth Square garage for the next 40 years.

SAN FRANCISCO – The San Francisco Board of Supervisors unanimously approved a 40-year lease with the Portsmouth Plaza Parking Corporation, Chinatown based non-profit for the operation of the Portsmouth Square Garage.

The lease, which was sponsored by Board of Supervisors President and Supervisor for Chinatown, David Chiu, will ensure that the garage will continue to be overseen by Chinatown community leaders. Under the terms of the lease, the Recreation and Park Department will receive all operating profit from the garage while the Portsmouth Plaza Parking Corporation operates the garage without receiving a management fee or share of the profits.

“In 1962, the Chinatown community banded together to build the Portsmouth Square Garage,” said Recreation and Park Department General Manager Phil Ginsburg. “Today’s approval means that this neighborhood asset will remain in the hands of the residents and businesses that it serves for generations to come.”

The Portsmouth Plaza Parking Corporation was founded by Chinatown business and community leaders in 1960 in response to the growing need for a parking garage in the neighborhood. Since that time the non-profit Board of Directors has constructed, financed and operated the garage for nearly five decades, all without ever receiving any compensation.

“For 50 years the Portsmouth Plaza Parking Corporation has served the Chinatown community both in operating this garage and in providing small grants to other community based non-profits,” said President Chiu. “For the next forty years, this community non-profit will provide high quality local jobs, help develop the Chinatown and San Francisco economies and support the numerous non-profits that provide services to Chinatown.”

Built in 1962, the Portsmouth Square Garage has 504 parking spaces and generates approximately $1.3 million annually to support the Recreation and Park Department. The Garage is one of five City owned garages operated by non-profit Boards including the City’s two largest Garages, the Fifth and Mission and Sutter-Stockton Garages.

“Our Board and the entire Chinese Community are pleased that the Board of Supervisors unanimously approved the new 40 year lease,” said Jerry Lee Chinatown based Attorney and Treasurer of the Portsmouth Plaza Parking Corporation. “Now comes the challenge of updating the garage to increase parking, energy efficiency and revenues to benefit both the City and community.”

Stow Lake Boathouse Judgment Day is Finally Upon Us – Listen In at 2:00 PM as the “Historic Snack Bar” Gets Terminated

Thursday, December 2nd, 2010

Terminated with extreme prejudice, that is.

I don’t know man, I’ve seen more than my fair share of NIMBY groups and hysterical societies in the 415 over the years, but the absurdly-named Save Stow Lake campaign is, without a doubt, the worst in recent history.

See the NIMBYs  go down in flames starting at 2:00 PM (at the earliest, tonight’s meeting could be a long one) at the SFGTV.

Click to expand, yah?

Here’s a mini photo essay and here are all the deets.

Artist’s conception of the Stow Lake boat repair facility, post-termination. It will be a cafe soon:

Recreation and Park Commission to Approve New Vendor at Stow Lake Boathouse December 2nd, or Soon Thereafter

Tuesday, November 23rd, 2010

Appears as if there’ll be some changes coming to Golden Gate Park’s Stow Lake Boathouse – our Board of Rec and Park will vote on the matter on December 2nd, 2010, anyway.

Check out the PowerPoint and the new lease if you want.

(The phrase “pink popcorn” is used three times, IIRC)

Out with the boat repair room and in with a cafe:

Click to expand

All the deets:

“On December 2, 2010, the Recreation and Park Commission will consider approving a Lease with Ortega Family Enterprises, doing business as Stow Lake Boathouse, LLC for the lease and operation of the Stow Lake Boathouse. The Commission meeting will be in City Hall Room 416 and will begin at 2:00 PM.

The lease is available for review on the Department’s website by following the link below.

Lease
http://sfrecpark.org/documents/Ortega_Stow_Lake_Lease.pdf

To review the Department’s Presentation from recent Community Meetings regarding Stow Lake, please follow the link below.
http://sfrecpark.org/documents/Presentation_of_Ortega_Proposal_and_Lease.pdf

LEASE
between
CITY AND COUNTY OF SAN FRANCISCO, Landlord
and
Ortega Family Enterprises
dba
Stow Lake Boathouse, LLC. Lessee
For the Lease and Management of
the Stow Lake Boathouse
in
Golden Gate Park
San Francisco, California
November 22, 2010
CITY AND COUNTY OF SAN FRANCISCO

SAN FRANCISCO RECREATION and PARK COMMISSION
Mark Buell, President
Tom Harrison, Vice President
Gloria Bonilla, Commissioner
David E. Lee, Commissioner
Meagan Levitan, Commissioner
Lawrence Martin, Commissioner
Philip A. Ginsburg, General Manager

The Presidio Landmark Apartments in the Old PHSH Hospital are Mega Turbo Double Awesome

Thursday, July 15th, 2010

There I was at the Presidio Landmark apartments the other day only to find out that that Philip Ferrato from Curbed SF already beat me to the punch. His metaphorical footprints were all over the place. No matter, let’s take another gander.

And who knows, maybe you’ll have the coin to sign a lease. (And included in that, you’ll get an assigned parking space* for each bedroom(!) you rent. Shhh… don’t tell the StreetsBlog.)

Here it is, as it looked yesterday, with Presidio Trust Executive Director Craig Middleton out front talking about what constitutes “Presidio Magic.”

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Hey, didn’t this building used to be a hospital?

A hospital for merchant marines and sailors?

So it would seem.

And hey, wasn’t this place filled with graffiti not too long ago?

Oh yes, but things are all cleaned up now. See? Here’s the very same staircase:

O.K. then.

Now, realize that developer Forest City wants you to come by (by appointment, there’s a waiting list just to see the place, I think) and move in. Look at the greeting you’ll get:

Building 1801 will soon be open for business. (How many tripods do you see in this shot?)

Now, let’s head up on the famous staircase. You won’t find a doorless, open design like this in a SoMA skyscraper owing to fire code regulations. The LandMark will make use of an emergency water curtain setup:

But look here, the old metal handrail assembly was just plopped onto the marble way back in 1932, can you see? No matter, a little rust never hurt no one. This building doesn’t deny its history, that’s for sure.

Now, let’s check out the rooms.

This is part of a one-bedroom that has about 1050(!) square feet. (This particular unit would be used as a three-bedroom in most any other part of the 415.)

And here’s your view. Can you see Mount Sutro? Yes, barely.

But hey, where would former San Francisco mayor Willie Brown hang his red socks to dry after handwashing if he were to live in this building – which is the nicest unit? How about this suite? The entrance is extra long, good for displaying your art, non?  

And here’s the kitchen, complete with island and hood for indoor BBQ.

One of these wings is not like the other/ One of these wings just doesn’t belong…

Right, it’s a three-story add-on! See it on the left? If this building is “anchor-shaped,” you’re looking from the ring down the shank and towards the left fluke. (This will all be clear the next time one of the satellites from Google’s fleet passes over to update the Google Maps.

And there’s a hot tub! It has benches in there so you can face those sitting in the deck chairs.

That’s the tour.

So, here’s the old Public Health Service Hospital back as she was in 1935. (Note just one GGB tower back there.)

And here’s how she was not too long ago with the ugly wings out front:

You’ve come a long way, PHSH.

People are moving in August 1st or something. Will you join them?

*Or you can get a credit for foregoing each parking space, but it won’t be all that much, I’m sure.

Revenge of the Subtenant – Rent Board Requires Master Tenant to Refund $10,800

Thursday, January 14th, 2010

Here’s the thing – if you’re renting a place in San Francisco and you’re paying your monthly rent to your roommate, chances are that you could be considered a subtenant and your roomy the “Master Tenant.”* Particularly when the rent for your unit is way undermarket, due to rent control let’s say, you might end up spending more for your space than the Master pays for the Master’s part of the apartment.

So if you’re paying $900 a month for your half of  a two-bedroom and your Master Tenant in the other room is only kicking in $100 (to pay $1000 total to the landlord for the whole place), then you can take steps to get some of that money back and lower your rent to boot.

“A subtenant who believes he or she is paying more than a proportional share of the total rent may file a Tenant Petition against the master tenant on that basis. If the subtenant prevails, the Administrative Law Judge will adjust the rent to the proportional share and order the master tenant to refund any rent overpayments.”

Is this a perfect system? No, but it’s what you end up with when your city has rent control.

Your San Francisco Rent Board just dealt with a subtenant/Master Tenant proportionality case. The names of the people involved aren’t important, but the situation is noteworthy, IMO. Let’s check it out.

Now, if you don’t like how the Administrative Law Judge (ALJ) dealt with your case with your roomie, you can appeal to the board. As here, from the meeting of August 4, 2009:

The subtenant’s petition alleging that he paid a disproportional share of the rent pursuant to Rules ß6.15C(3) was granted and the Master Tenant was found liable to the subtenant in the amount of $10,800.00. On appeal, the Master Tenant alleges that he was unaware of the requirement that the amount of rent paid must be proportional; that the decision will present him with a financial hardship; and that the subtenant is going to be evicted due to his uncooperative behavior. 

MSC: To deny the appeal on substantive grounds but remand the case for a hearing on the Master Tenant’s claim of financial hardship. (Gruber/Crow: 5-0)”

See? The sub won big-time, to the tune of five figures because the rent split determined by the Master Tenant wasn’t proportional according to a judge and the full board.

But the master came back to say the ruling would be a hardship for him. From the meeting of November 17, 2009:

The subtenant’s petition alleging that he paid a disproportionate share of the rent was granted and the Master Tenant was found liable to the subtenant in the amount of $10,800.00.  The Master Tenant’s hardship appeal was granted and remanded for hearing.  In the remand decision, the ALJ finds sufficient hardship to order a repayment plan in the amount of $150.00 per month.  The Master Tenant again appeals, claiming that even the reduced amount will cause him severe hardship and possibly result in both tenants’ eviction from the premises.

MSC: To deny the appeal.  (Mosbrucker/Gruber:  5-0)”

Is this what you might call a Phyric victory? Maybe. It’s probably too early to tell. Oh well.  

Check the San Francisco Rent Board website for deets on the rules, or see you after the jump.

*The County of Los Angeles doesn’t want to buy equipment that has the term “master” written anywhere on it, like on a hard drive, a DVD burner or a brake cylinder. But in San Francisco, we freely label people “Master Tenants.” It’s our thing. 

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