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Lafalum

Leasing space in NYC

What do you guys think of the college leasing about 1500 sq ft of space in Manhattan. For you real estate guys what does sq footage go for these days. I must confess I don't see the need. They say its for meeting space and for our performing arts program. It's at 185 West Broadway in Tribeca!
BPard

We tout our proximity to NYC in recruiting prospective students - and I presume faculty. Strengthening the tie makes sense from that perspective. If there really are classes that regularly meet in or travel to NYC, then it makes sense.

We're renting it from NYU I believe, so hopefully the space is just excess capacity for them and we aren't paying the going market commercial rate.
bethlehempard

This thread earlier discussed leased space more toward midtown:

http://lafayettesports.myfreeforu...fice_for_Lafayette_about3005.html

So is this a replacement space or in addition? Probably not bad to have an outpost in the city. If it's used well. The issues of proximity are in the above thread.
Lafalum

bethlehempard wrote:
This thread earlier discussed leased space more toward midtown:

http://lafayettesports.myfreeforu...fice_for_Lafayette_about3005.html

So is this a replacement space or in addition? Probably not bad to have an outpost in the city. If it's used well. The issues of proximity are in the above thread.


This is additional space. The other space is for our Chief Investment Officer which I think is necessary to attract a good person and professional staff!
Pards Rule

Yeah it is feasible if they are grabbing it below market. If its not Times Square or Hudson Yards, it should be reasonable. Hey, I parked in the Clinton Terrace parking lot on Saturday and was gazing across Cattell and noted that nondescript off yellow house on the corner. Do we own that too in addition to the Communications Bldg (is it the Feather House - named after who?). Wasnt the Feather House the ROTC building back in the early 80s? I recall going to a pizza party there in the first week as they were recruiting. The house on Clinton behind the off yellow one (a very impressive stone one like Feather House) is for sale I saw (or was this the ROTC at one point?). It would be nice to level the off yellow and combine the Feather House with the other stone place. Perhaps relo communications into the for sale stone house and create parking on off yellow piece and make Feather House the new Mojo with the parking inviting the community more? That would be a home run location with the parking. Of course my ideas would be better voiced if I were a member of some development team.
Pards Rule

Lafalum wrote:
bethlehempard wrote:
This thread earlier discussed leased space more toward midtown:

http://lafayettesports.myfreeforu...fice_for_Lafayette_about3005.html

So is this a replacement space or in addition? Probably not bad to have an outpost in the city. If it's used well. The issues of proximity are in the above thread.


This is additional space. The other space is for our Chief Investment Officer which I think is necessary to attract a good person and professional staff!


OK then I endorse!
ed65

The rules for organizations using the the CIO space are restrictive.  We wanted to use it for meeting of the NYC Chapter, and it ended up being a huge hassle.  It never worked out but I decided not to go to Byerly and kick up a fuss because I have done that enough in the past (not with Alison) and it is not worth my time or effort (or how incredibly pissed off I get with low level LC staff intransigence).

If we lease space in NYC, it should be available to any LC organization especially the NYC Chapter.
Pards Rule

ed65 wrote:
The rules for organizations using the the CIO space are restrictive.  We wanted to use it for meeting of the NYC Chapter, and it ended up being a huge hassle.  It never worked out but I decided not to go to Byerly and kick up a fuss because I have done that enough in the past (not with Alison) and it is not worth my time or effort (or how incredibly pissed off I get with low level LC staff intransigence).

If we lease space in NYC, it should be available to any LC organization especially the NYC Chapter.


Concur Ed!
flyfisher

BPard wrote:
We tout our proximity to NYC in recruiting prospective students - and I presume faculty. Strengthening the tie makes sense from that perspective. If there really are classes that regularly meet in or travwel to NYC, then it makes sense.

We're renting it from NYU I believe, so hopefully the space is just excess capacity for them and we aren't paying the going market commercial rate.


My son is majoring in engineering and he had to take some art and theater class. He went to NYC twice and I think had a meeting there.
pardfan

Surely I don't understand this situation regarding office space in NYC;  suffice it to say, the whole world is going passive (at maybe $.45/$1,000 invested plus tax efficiency) and we're stubbornly active--with office space and personnel--costing at least 30x that (considering our endowment).  
Given the fact that a mini poodle with a laptop operating somewhere in China could handle the intricacies involved with passive investing, "stupid decision" only scratches the surface.  These managers can't beat their benchmarks.  Ours must be the exception.  Hah.
pardfan

pardfan wrote:
Surely I don't understand this situation regarding office space in NYC;  suffice it to say, the whole world is going passive (at maybe $.45/$1,000 invested plus tax efficiency) and we're stubbornly active--with office space and personnel--costing at least 30x that (considering our endowment).  
Given the fact that a mini poodle with a laptop operating somewhere in China could handle the intricacies involved with passive investing, "stupid decision" only scratches the surface.  These managers can't beat their benchmarks.  Ours must be the exception.  Hah.


Nov 28 2016  Group of Harvard alums squawk about endowment managers' pay (which increased from  $68.2 mln in 2009 to $175.3 mln in 2015)
Fiscal 2016 saw endowment drop "nearly" $2 bln (to around $35 bln).

Jan 25 2017   Harvard endowment to cut staff by roughly 1/2 from 230.  "Will outsource its management."  Seems they are not going passive, just streamlining.  Interesting.  Bloomberg article says 11 managers made $242  mln over about a five year stretch--90 % of that total bonuses.  (Very low bar set by endowment personnel for those hefty bonuses.  Whoever said those Harvard grads weren't smart.)  

Consultant called Harvard (method) "lazy, fat, and stupid."
WILL OUR CONSULTANT FOR ATHLETICS HAVE THE COURAGE TO SAY THE SAME (OR ANYTHING APPROXIMATING THAT) ABOUT LAFAYETTE COLLEGE?

Fan Forum a must-read in Boston?
Lesson here?

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