Sunday, May 24, 2020
The pair were photographed relaxing on deck on board 'Cujo' in St Tropez in July 1997 before the couple were killed in a car crash in Paris on 31st August
The boat went for a bid of £171,000, a price which many deemed surprisingly low
The glamorous yacht where Dodi Fayed and Princess Diana spent their final holiday together has been sold at auction.
Dodi and Diana were photographed enjoying each other's company on the boat, named 'Cujo', in July 1997, just weeks before their deaths in a Paris car crash on August 31st the same year.
Last week, the yacht was sold for £171,000, with some observers telling The Sunday Express that the bid was surprisingly low, sparking fears that the memory of Diana was 'fading'.
The Cujo (pictured) Dodi Fayed's former yacht, has been auctioned for £171,000. In the summer of 1997, before their untimely deaths, Dodi and Princess Diana enjoyed holidays on the vessel in St Tropez, France
Diana walking along the deck on the Cujo, Dodi's yacht in July 1997. The ageing vessel was sold during a recent auction for £171,000
Final days: A snap of Diana and Dodi Fayed enjoying each other's company on his father's yacht Jonikal (now called the Sokar) in St Tropez in the summer of 1997
Royal author Margaret Holder, who penned Diana: The Caring Princess, a look at the Princess of Wales' life published in 1999, said she felt it was: 'a shame that this historic boat didn't attract a higher bid as a remarkable souvenir of the last days of Diana's life.'
She added she felt it was surprising that royal fans did not pay more for the historical memorabilia.
'Not long ago one could have expected a bidding war between wealthy Diana fans,' she said.
'I hope this isn't a sign that memories of her unique allure are fading," she added.
Diana was famously photographed kissing Dodi on the vessel's deck and sunbathing on his father's yacht's diving board that same summer.
The boat was used by Dodi as the venue for lavish parties in the South of France, mainly in St Tropez.
In the summer of 1997, the millionaire son of former Harrods owner Mohammed Al-Fayed entertained the former Princess of Wales on the yacht.
The couple were photographed all summer long in 1997, a year after Diana's divorce from Prince Charles, which was finalised in August 1996 (pictured on a speedboat in St Tropez in July 1997)
The pair were photographed kissing and embracing on the deck almost a year after Diana and Prince Charles's divorce was agreed upon. Diana, then 36, was spotted strutting on the deck, making the most of the Mediterranean sun and her new romance.
The couple also spent most of their time of Dodi's father Mohammed's super yacht the Jonikal (now known as the Sokar) that same summer.
A snap of the former royal gazing into the distance from the yacht's diving board was one of the last pictures ever taken of Diana.
The couple died in a tragic car accident which shook the world on August 31 1997 in Paris, which killed their driver, Henri Paul as well.
The yacht was built in 1972 by Baglietto Shipyard for entrepreneur and playboy John Von Neumann,. It was intended to be one of the fastest yachts around at the time.
After a few years, John Von Neumann sold the vessel to Mohammed Kashoggi, who later sold it to his cousin: Dodi Fayed.
Following Dodi and Diana's death, the ship was decked for years before Moody Fayed, Dodi's cousin, bought it from the family and refurbished it for £800,000 in 2016.
Posted by ASC at 5:52 PM
Saturday, May 23, 2020
Exodus from NYC: The young join the rich in ditching the Big Apple as the coronavirus economic downturn drives professionals out and companies accept staff permanently working from home
The coronavirus lockdown has left young New Yorkers reconsidering the city's high cost of living
People who can work remotely are eyeing the suburbs or contemplating moving back home with their parents
A recent survey found 69% of people in tech and finance said they would leave New York if they were given the option to work from home permanently
Twitter, Facebook and Spotify recently announced they will allow employees to work from home long-term
Pat Stedman, 31, a dating and relationship coach, said the pandemic has only sped up his and his wife's exodus from the city and now plans to work remotely from overseas
Many residents have also expressed concerns over whether New York City will successfully bounce back when it finally reopens in the coming months
Young people are joining the rich and are fleeing New York for the suburbs after the coronavirus lockdown left many professionals reconsidering city life as companies begin to permanently adopt work-from-home models.
As COVID-19 gripped the country in mid March, residents of New York City's wealthiest neighborhoods fled to ride out the lockdown at their vacation homes, while many young people hunkered down in the suburbs with their parents.
Some were forced to break their leases and move back to their hometowns because they could no longer afford the city's exorbitant rent prices after losing their jobs, while others have continued paying for their cramped city apartments while they shelter elsewhere.
The majority intend to return at the end of the lockdown period, but the economic impact of the pandemic as well as the shift to remote working has led some people to ditch the city for good.
Among them is Shelby Gutleber, who lost her job as a waitress in the Upper East Side in March and moved to Keansburg, in central New Jersey - a move she described as the best decision she ever made.
Young professionals are leaving New York City and flocking to smaller, less populated areas after the coronavirus pandemic left many to reconsider the city's high cost of living. Pictured: Pat Stedman, 31, looks out at Manhattan after ending his lease on his Kips Bay apartment
Shelby Gutleber (left) moved back home to suburban New Jersey after losing her job as a waitress in the Upper East Side at the beginning of lockdown. The 26-year-old called the move 'the best decision she ever made'
New York City has been converted into a ghost town after the March 15 lockdown with thousands of residents fleeing to the suburbs to shelter. Pictured: A virtually empty Fifth Avenue on May 4
Five percent of New York City's population, or 420,000 people, left between March 1 and May 1 amid the coronavirus pandemic. The bottom 80%, who earn less than $90,000 per year, mostly stayed while the top 1%, who earn about $2.2 million per year, left
The 26-year-old was living in an apartment in Washington Heights and was finishing her degree in political science at Columbia University when the pandemic struck.
'I was laid off and I couldn't get unemployment. I just finally got it about two or three weeks ago. So thinking about paying $1,250 in rent when you're unemployed is frightening,' she told DailyMail.com.
'On top of that my roommate and I didn't get along so I was basically stuck in my room.'
Coronavirus cases and deaths in small East Coast towns where NYC 'refugees' have fled
Martha's Vineyard, MA - 29 cases
Nantucket, MA - 39 cases
Newport, RI - 212 cases
Suffolk County, NY (The Hamptons) - 43,218 cases / 1,814 deaths
Cape May County, NJ (Ocean City) - 545 cases / 46 deaths
Ocean County, NJ (Jersey Shore) - 8,242 cases / 678 deaths
Monmouth County, NJ (Jersey Shore) - 7,724 cases / 543 deaths
Data as of Saturday, May 23
Facing financial uncertainty and an uncomfortable living situation, Shelby jumped on the opportunity to move back to the suburbs when her brother offered her a spare room in his house in April.
'It's been great. This pandemic is horrible in New York City and there is no place to get out.
'Here I can hike and bike, walk, run, and go to a store without stepping foot on a subway. And no insanely high rent,' she said.
The college graduate is among the hundreds of thousands of New York City residents who have fled the Big Apple between March 1 and May 1.
As the lockdown entered its third month, a New York Times report last week showed Manhattan's overall population has fallen by almost 20 percent, with many residents flocking to small east coast towns or popular vacation home destinations.
The data, collected from smartphones, revealed usually-bustling Manhattan neighborhoods such as SoHo, the West Village, Morningside Heights, the Upper East Side, the Financial District, Midtown, Gramercy and Brooklyn Heights, emptied by at least 40 percent.
For New York City office workers, being able to work remotely has made it easier for them to relocate and do their jobs elsewhere during the pandemic.
But as cities begin reopening, a number of companies have announced plans to keep the work from home model for good, raising questions over whether employees will now flee major metropolitan areas for cheaper, and less densely populated regions.
Pat Stedman, a dating and relationship coach, said the health crisis has only helped speed up his and his wife's exodus from the city which they were considering before the outbreak. The couple is staying in suburban New Jersey until they move overseas
Margarita Lyadova (left) a partner manager for an ad tech company in New York City, let go of her Upper East Side apartment to move back home to Minnesota, and is now looking at cheaper markets. Sarah Moebius, 24, (center in brown) said she doesn't 'see the point' in going back to New York City until she's back at work
For Pat Stedman, 31, a dating and relationship coach, the health crisis has only helped speed up his and his wife's exodus from the city which they were considering before the outbreak.
The couple ended the lease on their apartment in Kips Bay last week and are now living with Stedman's parents in South Jersey until they make the move to Poland, where his wife is from.
The pair hope to buy an apartment and start a family overseas, and being able to work remotely has made it all the more convenient.
'Poland is very family friendly and the cost of living is very low. It's an opportunity to save a bunch of money,' Stedman told DailyMail.com.
'My business is remote, and my wife may be able to do the same with her job.'
'That said, it's hard to be in NYC now, all the energy has been sucked out of it. Aside from Central Park, it feels like a prison where everyone is afraid and subdued, not where people go to have fun and make things happen.
'We spent last weekend there to soak it all up, and we know our time there is done. NYC will recover - it always does - but it'll be a different NYC after, just like after 9/11 the city changed.'
Earlier this month Twitter announced it will allow some employees to continue working from home on a permanent basis - a concept other tech giants are also weighing up as they prepare for the post-pandemic era.
Music streaming service Spotify followed suit on Friday, telling employees that they can work from home until 2021.
A recent survey conducted by anonymous professionals group Blind, also found 69 per cent of New Yorkers in the tech and finance field would consider relocating if they knew they could work from home permanently.
Eighteen per cent said they would leave the metro area, while 36 per cent said they would move out of the state altogether.
Fifteen per cent said they would leave the country.
The data was collated from responses from more than 4,000 employees at major tech companies including Facebook, Twitter, Uber and Amazon, in Seattle, San Francisco and New York.
Of those respondents, New York had the highest proportion of those eager to flee (37 per cent).
It reinforces the prospect that big cities could become shells of their former selves as office workers transition to working from home permanently, and huge headquarters, that were once an indicator of a company's success, become an unnecessary expense.
A recent survey conducted by Blind found 69 per cent of New Yorkers in the tech and finance field would consider relocating if they knew they could work from home permanently
Fourteen per cent of respondents said they don't anticipate returning to the office when the pandemic is over
WHAT DOES NYC NEED TO DO TO REOPEN?
Cuomo's requirements for each of the regions of the state are as follows:
14-day decline in hospitalizations
14-day decline in deaths
New hospitalizations under two per 100,000 residents
30 percent of hospital beds free
30 percent of ICU beds free
30 tests per 1,000 residents
30 contact tracers per 100,000 residents
Based on Cuomo's requirements New York City meets four of the seven requirements.
It falls short on hospital beds where it stands at 28 percent as of Saturday, ICU beds where it stands at 26 percent and contact tracers (number unknown).
De Blasio announced new 'indicator thresholds' for reopening the city Friday:
Daily hospital admissions below a threshold of 200
Number of patients in ICU patients below a threshold of 375
New cases below a 15 percent threshold
Based on these requirements New York City meets two of the three thresholds but is above threshold on the number of ICU patients, with de Blasio announcing there were 471 patients as of Friday.
Margarita Lyadova, a partner manager for an ad tech company in New York City, let go of her tiny Upper East Side apartment on March 12 to move back home to Minnesota where she has been working remotely since.
The 23-year-old does not plan on staying in the Midwest long term, but is now considering cheaper markets and less populated regions where future outbreaks are likely to be less severe.
New York City has become the epicenter of the coronavirus pandemic, with 193,951 confirmed cases of COVID-19 and 16,333 deaths as of early Saturday.
'I lived in a tiny studio with little natural light, and that's not a safe nor comfortable place to be in all day. I couldn't go to a grocery store without taking public transportation or walking an extended period of time,' she told DailyMail.com.
'I left because what I love about New York can't exist during a pandemic. New Yorkers live to interact with each other. Everything is designed to be shared and experienced with others.
'Even if some things open up over the summer, or even if things open fully, to me, it's not unthinkable that a second wave may hit come fall. That's why it's so important for me not to be financially tied down to high rent anywhere.'
The same goes for 31-year-old Alie, a research editor at a New York City media company who has been working from her hometown in Maryland since her job sent employees home in early March.
She is now considering not renewing her lease for her Astoria, Queens apartment, for which she has continued paying rent for three months, despite being away.
'If I have the option to remain remote, I would prefer it. Not so much over the job duties, but I think it's also from an economic standpoint,'.
'Rent in New York City is so expensive. If I'm able to do my job elsewhere, it might be worth considering.'
The coronavirus pandemic has also led many to rethink the city's appeal in addition to the high cost of living after being away from the congested streets and the hustle and bustle for weeks.
Zuckerberg (pictured) said there will be 'severe ramifications' for employees who lie about their home address to keep their Silicon Valley salary
Facebook's New York City office is settled in Manhattan (pictured) where homes sell for a median price of $945,000
'[It's] honestly just a more quieter, stress-free, healthier lifestyle [and] it's making me reconsider New York,' said auditor, Kevin, who wished to be identified by his first name only.
The 31-year-old is working from his parents' home in Englewood, New Jersey, after leaving his midtown apartment at the start of lockdown.
'Every time I return to my apartment in New York I realize how dirty and filthy the city is.'
Sarah Moebius, 24, who was working as an events performer in the city, has been staying in Raritan, New Jersey as she waits for her job to resume.
Anxious New Yorkers on Twitter have questioned whether the city will be able to bounce back to its former glory when it slowly reopens
Popular destinations among so-called 'coronavirus refugees' include Martha's Vineyard, Cape Cod, Rhode Island, the Hamptons, Hudson Valley, the Jersey Shore and southern Florida
'I'll move back when my job comes back but before then I don't see the point,' she said.
On Friday, Facebook CEO Mark Zuckerberg announced that he expects about 50 per cent of the company's 50,000 staffers to work remotely within the next five to 10 years.
But those hoping to take their large paychecks with them after moving to a less costly region would face salary adjustments, he said.
'That means if you live in a location where the cost of living is dramatically lower, or the cost of labor is lower, then salaries do tend to be somewhat lower in those places,' said Zuckerberg.
Facebook's New York City office is found in Manhattan, which has a median income of $82,459 and a median price of homes sold is $945,500.
The median price of homes currently listed is $1.5million in Manhattan.
Zuckerberg said the move to working remotely will help diversify Facebook's staff and hiring pool.
New York City Mayor says city will gradually reopen in June
NYC residents are growing increasingly weary as the city's lockdown rumbles on, as all other state regions are expected to reopen by the end of next week
On Thursday, Mayor Bill de Blasio said New York City is inching towards enacting phase one of its reopening plan on June 1 and June 15.
'I want to signal as clear as a bell, all roads are leading to the first half of June,' de Blasio said at his daily press conference.
'The city indicators, the state indicators, we're seeing very clear progress.'
Under state guidelines, New York regions are required to meet seven criteria in order to begin easing lockdown restrictions.
So far, New York City has only met four of those requirements including, a 14-day decline in hospitalizations and deaths, and diagnostic testing capacity.
In the meantime, anxious New Yorkers on Twitter have questioned whether the city will be able to bounce back to its former glory when it slowly reopens.
'I don't think I've ever truly, seriously considered leaving NYC, short term or long, but given the state of things and a bit of a conversation I had yesterday, I'm really thinking. I woke up this AM like toss the resume everywhere, if I goes, I goes,' Christine Cupo, a market consultant tweeted.
Another added: 'I never remotely questioned leaving NYC, but in 18 months if gyms don't open, parties/group events are dead, and I'm still working remote, who knows.'
How working from home long-term might affect your psyche
Will NYC become a ghost town? 80% of one landlord's retail tenants skipped April and May rent as companies 'take a field day' from office lease payments while weighing permanently working from home - triggering an 'alarming' drop in tax revenue
80 percent of Vornado's retail tenants failed to pay rent in April and May; 40% of its office tenants skipped payments too
Other landlords say even financially robust companies are 'taking a field day' from rent payments to see how the pandemic plays out
There is still no clear indication of when NYC will reopen despite mounting pressure from businesses
Many fled the city months ago and may not have plans to return if the biggest draws - nightlife, culture and being in a company's office - are not options
Of the new vacant apartments on the market, 70 percent slashed their prices between April and May
It paints a gloomy picture for commercial and residential landlords who are struggling to pay their mortgages and tax bills
They have not been given help from the government but they also can't evict tenants for failing to pay rent
They cannot show any of their vacant properties either until Phase 2 of the reopening gets into motion and there is no telling when that will be
Trump says he will not shut down the country if there is a second wave of infection
New York City's real estate market continues to be battered by the coronavirus lockdown and is likely to keep suffering with no end to the current lockdown in sight.
One major commercial landlord said 80 percent of their retail tenants missed rent payments in April and May and others are reporting that even companies that have healthy finances are simply choosing not to meet their lease agreements, amid growing uncertainty over how many businesses will actually work in offices in the future.
Residents are also abandoning their expensive apartments by breaking their leases or failing to renew them to wait out the crisis in more comfortable surroundings. For the rich, that means spacious homes in the Hamptons and upstate and for the young, it is their parents' suburban homes.
The knock-on effect is an 'alarming' drastic reduction in the number of landlords who will be able to pay their tax bills on July 1 which will result in devastating losses in tax revenue for the city and, in turn, the state.
In April, NYC and the state collected just $78.5million in tax revenue on the sale of commercial and residential properties, down from $217.5million in March.
Tax revenues pay for the city's essential services like road repairs, sewage systems, police and fire fighters. Those will take a hit if the situation continues.
'This dramatic loss in tax revenue is alarming. The real estate sector is the city’s economic engine.
An abandoned 42nd Street in midtown earlier this month after offices closed. The city's real estate market has taken a hammering from the pandemic
Eighty-percent of one landlord's retail tenants failed to pay rent in April and May as the lockdown forced NYC's budding shopping scene closed indefinitely
'The pandemic has caused that engine to stall and we should expect such alarming trends to carry through May and June in the best-case scenario,' James Whelan, President of the Real Estate Board of New York, said in a statement on Wednesday.
66% OF STAFF FROM BIG TECH SAY THEY'D RELOCATE IF WORKING FROM HOME BECOMES PERMANENT
A survey of staff from major tech firms including Facebook, Uber, Twitter and Google has revealed that 66 percent would move out of big cities if working from home becomes more permanent.
The survey, by Blind, asked staff from more than 4,000 companies in Seattle, San Francisco and New York if they would relocate after working from home as part of the COVID-19 crisis. The majority - 66 percent - said they would consider a move.
While the number of respondents represent only a sliver of each's workforce, it fits with a growing trend of companies telling staff they can work from home permanently.
The results vary by company and by region and the majority of the respondents (2,768) worked in the Bay Area.
Thirty-three percent of Bay Area residents said they'd stay, 27.49 percent said they'd move out of the city and 27 percent said they'd move out of California.
Eleven percent said they'd even leave the US.
A third of the New York workers also said they'd stay in the city, 17 percent said they'd leave the city, and 35 percent said they would leave the state
Fifteen percent said they would move overseas.
In Seattle, 37 percent said they would stay in the city, 19 percent said they'd leave but stay in-state, and 26 percent said they would move out of state. Sixteen percent said they'd leave the country.
Fourteen percent of the workers said they anticipated never going into the office again, and 44 percent said they imagined only going in once or twice a week.
Only 15 percent said they imagined going in every day again.
Of the 354 Amazon employees from Seattle who answered, 32 percent said they would stay put, 24 percent said they would move out of the city and 26 percent said they would leave the state.
Thirty-one percent of the Google employees from the Bay Area interviewed said they would move out of state.
Some say buildings will not be able to operate for another month if they don't start collecting rent.
'There are hundreds of buildings in New York City operating at a loss because of COVID-19, and many of them will not be able to survive another month without help.
'If officials do not immediately target relief to lower-income renters and small owners who have mounting monthly expenses, they will not be able to reverse the damage this crisis will have on our city,' Jay Martin, Executive Director for the Community Housing Improvement Project, said.
In the residential market, rent prices are being driven down. Between April and May, 70 percent of listings on StreetEasy - the most used house hunting website - were reduced.
Brooklyn saw the biggest decline, with rents being brought down by three percent. Typically, cheaper apartments are seeing the biggest decline.
'The low end of each segment of the market has been more challenged in this market.
'Therefore there’s a higher probability that there’s negotiating on existing leases, whether it’s a deferral or a short-term discount off of existing rent. And that information is not in the public domain at all,' Jonathan Miller of Miller Samuel told The Commercial Observer earlier this month.
It means that when agents are once again allowed to show apartments to prospective tenants, there will be a rush for the lower-priced units that should drive prices down across the entire market.
There is a moratorium in place that means no business or person can be evicted from their apartment or place of work for failing to pay rent.
At present, the rules are that they will have to pay back what they don't pay now, but with many pondering whether or not they should even stay in the expensive city when they can't enjoy it, the number of rent payments coming in is likely to continue to decrease.
Vorndado, one of the city's biggest landlords, told investors on a recent earnings call that 80 percent of its retail tenants did not pay rent in April and May. Forty percent of its office tenants also skipped payments.
Empire Realty Trust reported that a quarter of its office tenants did not pay rent.
In April, SL Green, the largest corporate landlord, collected 90 percent of its office rent but only 65 percent of its retail rent.
The Financial District has been a ghost town since the lockdown began and it's unclear how many of the businesses that occupy huge offices there will return
THE YOUNG AND THE RICH FLEE FOR THE SUBURBS
The first wave of people to flee New York City were the wealthy.
They flocked to the Hamptons, where many own second homes, or more rural parts of the state to try to ride out the crisis.
Some, who did not own, rushed to get their hands on rental properties for inflated prices.
Now, some are permanently putting down the roots because the situation in the city remains so precarious.
In Connecticut, real estate brokers have seen a 'tidal wave' of interest in properties.
'One … called me up and said, "Do you know of anything else?" Mark Pruner, an agent for Berkshire Hathaway Home Services New England Properties, told The New York Post.
'She lives in a beautiful, 10-story coop on Park Avenue in New York, but every time [she] gets in the elevator … she is afraid,' he added.
It's not just the wealthy fleeing the city. Scores of younger residents are trying to get out of their leases or fill their rooms because they either can't work or they can't enjoy the city.
They are going back to their parents' houses in the suburbs.
'The draw of the city is the social life, the dating scene, bars, restaurants, the ability to do fun things on the weekend, it makes a lot of sense to just abandon ship and go back to your parents,'
Deniz Kahramaner, the founder of data-driven real estate brokerage Atlasa, told Bloomberg.
It remains to be seen how many companies will ever return to the offices they once occupied.
In a recent survey by Blind of employees from Amazon, Microsoft, Lyft, Uber, Facebook and others, 35.67% said they'd move out of New York to a different state if working from home became more permanent.
Fourteen percent said they anticipate never going back to the office, 39 percent said they anticipate going back to the office just one or two days a week.
Twitter has already told employees they can work from home permanently for the rest of their time with the company, and Facebook and Google are also weighing more permanent options.
What will become of their expansive, expensive Manhattan office spaces as a result remains unknown.
While residential and commercial tenants are still bound by their leases per the moratorium now, there's growing uncertainty over whether that will always be the case.
'Landlords’ ability to enforce the legal terms of their lease has been completely kicked out from under them,' Jane Lok, a landlord who collected half of what she normally does this month, told the Times.
To compound difficulty for the landlords, they can't borrow from banks because real estate is such a risky investment.
Businesses and Conservative pundits are calling for the city to reopen on May 28, claiming the lockdown is going on too long and bleeding them dry unnecessarily.
A coalition of 300 businesses have formed demanding that they be allowed to start serving people again.
Mayor Bill de Blasio and Gov. Cuomo say the city is still not ready because it doesn't yet have enough hospital beds free (they want it to have 30% and at the moment it only has 27%) and not enough contact tracers - a measure they and they alone insist on - have been hired.
Some 1,000 out of 2,250 have been brought on.
The three areas holding New York City back from reopening are the lack of free hospital beds and contact tracers which have to be hired by the local government
President Trump has said that he will not 'close the country' down if there is a second wave of infection, but he never closed the country in the first place.
On Thursday, he said: 'People say that's [a second wave] a very distinct possibility, it's standard. We are going to put out the fires. We're not going to close the country.
'We can put out the fires. Whether it is an ember or a flame, we are going to put it out. But we are not closing our country,' he added.
Trump was not in charge of ordering shut down orders. He left it down to the governors of each state at the start of the crisis, and came under fire from them.
He then claimed wrongly that he had 'total authority' as the president, a claim which drove governors including Andrew Cuomo to say: 'We don't have a king.'
Posted by ASC at 10:50 PM
Wednesday, May 20, 2020
Rich New Yorkers fleeing the pandemic have triggered a real estate boom in Connecticut with a spike in sales of lavish single-family homes
There's been an influx in sales in wealthy areas including Westport, Greenwich, Litchfield County and New Haven
One real estate agent reported selling a home in Wilton for $1.9million
New Yorkers have been leaving the Big Apple in droves as there are over 352,000 cases of COVID-19 and nearly 23,000 deaths in the state
Connecticut has significantly lower numbers - over 38,000 cases, 3,400 deaths
New York saw its housing market slump by 45.8% in April compared to last year
A 'tidal wave' of wealthy New Yorkers fleeing the Big Apple and scooping up properties in Connecticut has triggered an unexpected boom in the state's real estate market.
There's been an influx of sales of expensive single-family homes in Westport, Greenwich, Litchfield County and east of New Haven among upper-tier income clients, some selling for millions, real estate agents reported over the past month.
Holly Giordano, an agent for William Pitt Sotheby’s International Realty said sellers have been getting their asking price from desperate out-of-towners caught up in a bidding war, according to the Stamford Advocate.
She said one property in Wilton sold for $1.9million in an all-cash deal.
Since the start of the outbreak, elite New Yorkers have left the city in droves, as the state reports 352,000 cases of the virus and nearly 23,000 deaths, in seek of refuge in calmer states like Connecticut where 38,400 infections and 3,400 fatalities have been recorded.
A 'tidal wave' of wealthy New Yorkers fleeing the Big Apple and scooping up properties in Connecticut has triggered an unexpected boom in the state's real estate market. A view of luxury waterfront homes in Stony Creek, Connecticut above
There's been an influx of sales of expensive single-family homes in Westport, Greenwich, Litchfield County and east of New Haven among upper-tier income clients, some selling for millions, real estate agents reported over the past month
'What I’ve seen more of is all my city clients are looking in Weston, Wilton, Ridgefield, Easton — areas that normally wouldn’t be someone’s go-to because of the train aspect … but when you are coming from the city, they feel very far,' Giordano said.
'There was such an initial rush on all the rentals, that there’s hardly any left. … We’ve always benefited from the New York City market, but it’s just been a tidal wave,' she added.
'I think there’s going to be a trend of people renting and then buying second homes,' Candace Adams, the CEO of Berkshire Hathaway Home Services New England Properties said.
'I don’t know that they necessarily want to stay outside of the city – they just want to have an option to go someplace else.'
One homeowner in Westport received five offers in a day from affluent New Yorkers.
'One … called me up and said, "Do you know of anything else?" She lives in a beautiful, 10-story coop on Park Avenue in New York, but every time [she] gets in the elevator … she is afraid,' Mark Pruner, an agent for Berkshire Hathaway Home Services New England Properties, said.
Overall two real estate agencies in Connecticut recorded a slump in sales in April that picked up again in May. Now both firms expect a strong summer market that could last through slower autumn and winter months. Luxury waterfront New England style homes pictured in Stonington, Connecticut
April home sales were down five percent and seven percent in Fairfield County, according to estimates by William Pitt Sotheby’s and Berkshire Hathaway HomeServices New England Properties.
Sales were down 19 percent in Litchfield County and New Haven County alone, as per Berkshire Hathaway.
The those trends started to change in May, as both firms now expect a strong summer market that could last through the traditionally slower autumn and winter seasons.
Steven Magnuson, a Douglas Elliman broker in Greenwich, Connecticut, recently rented a modern, five-bedroom home with an infinity pool for $55,000 a month, setting a record for the town, according to CNBC.
When the house was available again the owner raised the rent to $65,000 and even with the spike there was a waiting list of 18 people for it.
'It seems like everyone wants to leave the city. Our problem is not enough inventory for sale. We’ve been on the phone 24/7 and on email,' he said.
On top of the spike in sales in Connecticut, some experts say real estate sales in New York City are plummeting as people flee the coronavirus pandemic, which has the most cases recorded in the concrete jungle.
'I was looking at stats in New York City ... and found it very interesting that studio- and one-bedroom apartments were flying off the market. People are renting smaller places there — and then they’re buying out here,' Adams said.
New Yorkers have been leaving the Big Apple in droves as there are over 352,000 cases of COVID-19 and nearly 23,000 deaths. Connecticut has significantly lower numbers - over 38,000 cases, 3,400 deaths. Arlington County employees pictured at a drive-thru mask donation sight to collect unused and unopened PPE
New York’s real estate market has seen a significant slow down due to the coronavirus as the rich flee the city, brokers see less clients and switch to virtual showings, and the prices Manhattan’s property prices slump about 20 percent from the 2016 peak in luxury condos, as per the New York Times.
From March 22, when the stay-at-home order took effect, to April 29, there were 643 contracts signed in Manhattan - less than half signed during the same period last year, according to GS Data Services, a real estate data firm.
The median sale price of $1.025 million, which is a six percent drop from the same time last spring.
In Brooklyn, where the median sale price was $900,000 from March 22 to April 29, signings were down 65 percent from the same time period last year.
There has also been a concerning drop in volume of properties put up for rent and sale.
In the week ending in April 26 there were just 59 new listings posted in Manhattan, including resales and new development – an 88 percent decline from the 519 listings added the Same week last year, as per real estate data site Urban Digs.
'The drop in deal volume is staggering and unprecedented for the industry,' said Garrett Derderian, the chief executive of GS Data Services.
Overall New York saw a massive decline in 45.8 percent of home sales in April compared to a year ago, according to a Redfin report.
Connecticut's Governor Ned Lamont included the real estate industry under 'essential' businesses in his March executive orders, allowing for appraisals, inspections, listings, open houses, and closings to continue through the pandemic, which contribute to why the market is doing so well.
Posted by ASC at 11:22 PM
Thursday, May 14, 2020
Photos of BOTH world wars and intervening conflicts during the bloodiest half-century in color
Some 100 million were killed in the First World War (1914-18) and WWII (1939-45), as well as many more in the intervening years during civil wars in Ireland and Spain, wars in Latin America and uprisings in colonies
Images of the mud of Passchendaele and the Omaha beach landings have been brought to life in a new book, The World Aflame, a collaboration between Brazilian artist Marina Amaral, and British historian Dan Jones
Ms Amaral has added colour to 200 stunning photographs, anchored by narrative by Mr Jones
They serve as a moving reminder of the bloody period, now more than 75 years since Victory in Europe
Iconic photos of the the First World War and WII, as well as the intervening conflicts, have been brought to life in colour and given a new perspective to the bloodiest half-century in history.
From the muddy fields of Passchendaele in 1917 to the beaches of Normandy in 1944, Brazilian artist Marina Amaral has added full colour digital renditions of 200 images from the world wars, the civil wars and anti-imperial uprisings across the globe in the intervening years.
Historians estimate that some 100 million died during the world wars and many thousands more were killed in the conflicts which followed the First World War and preceded the second.
In a collaborative effort with leading British historian Dan Jones, each of the photographs is accompanied by narratives of the conflicts. These include the world wars, as well as civil wars in Ireland and Spain, conflicts in Latin America and Britain's colonial struggles from Africa to the Middle East.
Coast Guard Chief Photographer’s Mate Robert F. Sargent took this iconic picture as US soldiers waded from their amphibious boats onto the shores of Omaha Beach at 7.40am on June 6, 1944. The Normandy landings, code-named Operation Nepture, was the largest seaborne invasion in history. The US deployed some 73,000 men in total, including from the airborne divisions which landed shortly after midnight before the invasion on the beaches. American soldiers landed at the Omaha and Utah beaches. The British and Canadians, 83,000 men by sea and air, were to land at Gold Beach, Juno Beach and Sword Beach. There are estimated to have been more than 6,500 casualties at Omaha Beach, the five mile stretch where this photo was taken
Battle of Passchendaele (the Third Battle Of Ypres) took place from July 31 to November 10, 1917, for control of ridges south and east of the Belgian city of Ypres in West Flanders. Passchendaele lies on a last ridge east of Ypres, five miles from Roulers, the station through which the majority of supplies to the German 4th Army ran. In this photograph taken by Lt. J W Brooke on August 1, stretcher bearers struggle in mud up to their knees to carry a wounded man to safety near Boesinghe. Unusually wet weather that summer and then the beginning of autumn rains led to appalling conditions. In his memoirs in 1938, Lloyd George wrote: 'Passchendaele was indeed one of the greatest disasters of the war ... No soldier of any intelligence now defends this senseless campaign.' It was one of the bloodiest battles of the war, with more than 850,000 casualties in total
Adolf Hitler began World War II with the September 1, 1939 invasion of Poland, when he attacked the harbour of Danzig (modern day Gdansk), along the northern coast. This photo taken from a German Heinkel He 111 bomber and shows the city below. The attack focused on the Polish Military Transit Depot at the harbour rather than the city - whose population was largely ethnic German. The Poles were able to hold out for a week and repelled 13 attacks, including dive-bomber sweeps and naval shelling
The Liberation of Paris: The armoured cars of General Philippe Leclerc's division arriving rue Guynemer, August 25, 1944. Paris had been ruled by the Nazis since the signing of the Second Compiègne Armistice on June 22, 1940. The liberation began with French Forces of the Interior - the military units of the French Resistance - brought an uprising against the German garrison as the US Army under General George Patton approached. On the night of August 24, Leclerc's 2nd French Armoured Division went to Paris and arrived at the Hôtel de Ville. The next morning the bulk of the 2nd Armored Division and US 4th Infantry Division entered the city.
August von Mackensen (1849-1945), a German Field Marshal during World War I, wears a fur hat with a skull embedded in it while Iron Crosses decorate his uniform (left). And Corporal Fred McIntyre (right) who fought in the 369th Infantry - the African-American unit known as the Harlem Hellfighters - during WWI. He displays a framed photo of Kaiser Wilhelm II that he carried around for luck. The Harlem Hellfighters spent 191 days on the front - the most of any American regiment - and sustained 1,500 casualties - more than any American regiment.
A woman munitions worker operating a machine in an armaments factory during the First World War. They stepped up to fill the gaping holes in various industries as vacancies shot up when their husbands, brothers, cousins and friends were conscripted. The employment of married women increased sharply - accounting for nearly 40 per cent of all women workers by 1918. Following the war's end, many women were laid off when soldiers returned from the blood-soaked battlefields on the continent. Those who stayed on were often expected to work for less money than their male counterparts despite doing the same job. Flagrant workplace discrimination continued until the Second World War, when women once again stepped in to fill the shoes of the men sent away to fight in another global conflict.
The Red Baron: First World War German fighter pilot Manfred von Richthofen (with binoculars) with fellow pilots in front of his Fokker biplane. The brilliant pilot, who was credited with a staggering 80 kills in the war, was shot down as he chased a British Sopwith Camel plane over the River Somme near Amiens in France at just 400ft from the ground. He originally served as a cavalryman before transferring to the air force in 1915. Von Richtofen was christened the Red Baron because many of his successes were in aircraft painted bright red, initially an Albatross. His final 19 victories were at the controls of a red Fokker Dr.I triplane.
The British Army On The Western Front In 1916, Three 8-inch howitzers of 39th Siege Battery, Royal Garrison Artillery (RGA), firing from the Fricourt-Mametz Valley during the Battle of the Somme, August 1916. Lasting 141 days, the Battle of the Somme was the bloodiest battle of the First World War. Around 420,000 British soldiers, 200,000 Frenchmen and 500,000 Germans were killed in the battle. It is estimated 24,000 Canadian and 23,000 Australian servicemen also fell in the four-month fight. On the first day alone, 19,240 British soldiers were killed after 'going over the top' and more than 38,000 were wounded.
A WWI soldier has paint added to a mask to cover his horrific face wounds. Never before had warfare been so bloody and mutilated so many men. Thousands were left with life-long disabilities and left with terrible scars and disfigurements. World War 1 saw over 700,000 British and Commonwealth forces killed and more than 1.6 million wounded. Of these, around 240,000 suffered total or partial leg or arm amputations as a result.
The Battle of Dublin: Free State soldiers fighting against Republican forces at O'Connell Bridge in Dublin in the first week of the Irish Civil War. The conflict followed the Irish War of Independence and came alongside the establishment of the Irish Free State, an entity independent from the United Kingdom but within the British Empire. The civil war, fought from June 28, 1922 to May, 24 1923, was waged between two opposing groups, Irish republicans and Irish nationalists, over the Anglo-Irish Treaty.
A Jewish couple in the Warsaw Ghetto in 1942. Nazi occupiers in 1940 corralled some 400,000 Jews into a small section of Warsaw most of whom were then sent to camps to be killed or died from the conditions in the Ghetto itself. The Ghetto was destroyed in 1943 when the Nazis, attempting more deportations, were met with fierce opposition and a month long uprising.
Captured prisoners of the First World War from eight different nations at an unknown German prisoner of war camp, from left, Annamite (Vietnamese), Tunisian, Senegalese, Sudanese, Russian, American, Portuguese and English. Certain camps were harsher than others, whereas others afforded comfortable living conditions to officers who had been captured. Ranking prisoners even had a gentleman's agreement with their guards, meaning they were allowed out during the day provided they returned to the camp before nightfall.
Chinese Captain Huang Chuen-Yu, executive officer of artillery battery in the Chinese 22nd Division, washes his feet at a command post, Burma, April 1944. The Chinese Expeditionary Force, a unit in China's National Revolutionary Army, was sent to Burma and India to support the Allies against the Imperial Japanese Army during Japan's invasion of Burma
From the muddy fields of Passchendaele in 1917 to the beaches of Normandy in 1944, Brazilian artist Marina Amaral has added full colour digital renditions of 200 images from the world wars, the civil wars and imperial uprisings across the globe in the intervening years. In a collaborative effort with leading British historian Dan Jones, each of the photographs is accompanied by narratives of the conflicts. These include the world wars, as well as civil wars in Ireland and Spain, conflicts in Latin America and Britain's imperial battles from Africa to the Middle East.e-mai
Posted by ASC at 11:43 PM