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Glossary
| Yield | A specialized calculation in the lodging industry, reflecting a comparative penetration between a subject property and the entire market. To calculate, three steps are required. (a) Multiply a subject property’s occupancy rate by the average daily room rate. (b) Multiply the entire market’s occupancy rate by the market’s average daily room date. (c) Divide the result of (a) by the result of (b) to arrive at yield; it is expressed as a percentage. | | Zoning Ordinance | A rule imposing rules and restrictions on how and where development may occur. The broad zoning classifications of land are residential, commercial and industrial. Zoning originated in New York City in 1916 to prevent industrial land use in Manhattan’s office and shopping districts. |
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- A large international Turkish construction firm, U.F.U.K also known as Memobay made their US headquarters at 55 Broad Street, taking a 7 year lease in the Class A office building. more info...
- Global Brokerage Corp. moves to 50 Broadway with furniture and a phone system included in a direct 5 year lease. more info...
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- Several community and regional banks, already squeezed by the subprime mortgage crisis, tightened consumer lending and falling share prices, are following the lead of some banking giants and pursuing sale-leasebacks as a hedge against current economic volatility. The strategy allows banks to raise cash while pruning unneeded brick-and-mortar assets from their balance sheets. In addition to large deals by the likes of Citi, Wachovia and SunTrust to monetize a portion of the...
more info...
- A new fancy Italian Restaurant will be opening in the heart of the FlatIron District more info...
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