Tag Archives: South Tower

Coach Inks Agreement for New NYC Headquarters

By Eric Volkman, The Motley Fool

Filed under:

Coach will be one of the famous corporate names occupying office space at New York City‘s high-profile Hudson Yards redevelopment project. The company has signed an agreement to take roughly 738,000 square feet of space for a new global corporate headquarters in the project’s South Tower.

Hudson Yards, located on the Lower West Side of Manhattan along the Hudson River, is currently under construction. The company expects to occupy its space there in 2015. 

Coach will spend generously on those headquarters — it anticipates that its aggregate costs for developing the new facility will amount to $750 million over the next three years. 

Other companies that have signed on for space in Hudson Yards include SAP and L’Oreal.

The article Coach Inks Agreement for New NYC Headquarters originally appeared on Fool.com.

Fool contributor Eric Volkman has no position in any stocks mentioned. The Motley Fool recommends and owns shares of Coach. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

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Source: FULL ARTICLE at DailyFinance

Tutor Perini Awarded Construction Contract for Hudson Yards South Tower in New York City

By Business Wirevia The Motley Fool

Filed under:

Tutor Perini Awarded Construction Contract for Hudson Yards South Tower in New York City

NEW YORK–(BUSINESS WIRE)– Tutor Perini Corporation (NYS: TPC) , a leading civil and building construction company, today announced that its subsidiary, Tutor Perini Building Corp., was recently awarded a construction contract by Related Companies (“Related”) and Oxford Properties Group to build the South Tower at Hudson Yards, a 26-acre mixed-use development in midtown Manhattan. The 1.7 million-square-foot, 47-story South Tower, located at the northeast corner of 10th Avenue and 30th Street, will be the future home of Coach, Inc.’s world headquarters. Construction commenced on the anticipated LEED Gold tower late last year and is expected to be complete in 2015. Kohn Pedersen Fox Associates is the architect and Thornton Tomasetti is the structural engineer. Tutor Perini‘s contract value will be included as part of the Company’s reported first quarter backlog. The contract value excludes certain subcontractor costs which Related will retain through its direct contracts with those subcontractors, but includes an anticipated profit amount that is based on the total construction value of the South Tower project.

Tutor Perini is working closely with the Building and Construction Trades Council of Greater New York and its affiliated unions. The Hudson Yards development is expected to create nearly 23,000 construction jobs. Related Companies and Oxford Properties Group retained Tutor Perini as the general contractor for Hudson Yards in January 2012.

Craig Shaw, President and CEO of Tutor Perini Building Corp., said, “We are pleased to be moving forward with construction of the South Tower at Hudson Yards, and we look forward to starting work later this year on the additional phases of this historic project, which will transform and vitalize midtown Manhattan’s west side over the coming years.”

Hudson Yards is the largest private development in New York City since Rockefeller Center. The site, which is the single largest piece of undeveloped property in Manhattan, is set to become the centerpiece of the historic expansion of midtown Manhattan’s central business district to the west side. It will accommodate over 13 million square feet, including over 6 million square feet of commercial space, approximately 5,000 residences, a new public school, and luxury hotel.

About Tutor Perini Corporation

Tutor Perini Corporation is a leading civil and building construction company offering diversified general contracting and design-build services to private clients and public agencies throughout the world. We have provided construction services since 1894 …read more
Source: FULL ARTICLE at DailyFinance

From Wall Street to NYC Cabbie: What I Learned on the Way Down

By Claire Gordon

Jack Alvo, cab driver

Filed under: “Let’s take a look at your numbers.” It was only days after 9/11, when he’d narrowly escaped his World Trade Center office, and this comment from his manager made Jack Alvo snap. He quit his $250,000-a-year job at Morgan Stanley and began a decade-long career path that would end in an unlikely spot: As a New York cabbie.

Alvo, 50, never expected to drive a cab, but it’s brought some unexpected joys. He says that he doesn’t envy the finance guys whom he drives around all day, six days a week, from 5 a.m. to 5 p.m. In fact, it’s given the cabbie a new outlook. “I don’t want to go back to that lifestyle,” of working on Wall Street, he says. “It’s grueling, grueling.”

Looking back, the cab driver’s career really changed the morning of 9/11, when Alvo escaped from his 73rd floor office of the South Tower. Fresh from this trauma, Alvo says that couldn’t handle the single-minded profit focus of certain Morgan Stanley managers. He did a couple other jobs, in commercial real estate and metal trading, but was laid off in 2009.

More: Over 50? What You Should Expect From A Job

In the midst of the financial crisis, he bumped around for a year, unable to find work, scraping by with his wife and two kids in their rent-controlled apartment. So he decided to start driving a cab. “I needed to bring in cash,” he said, and he knew the city streets well.

The same skills apply

Alvo says that he turned out to be a great cabbie. His aptitude for figures, honed through years of financial trading, worked well in a job where time is truly money. “I break it down literally to — I’m a numbers guy — to every 15 minutes,” he said. By 7 o’clock in the morning, he claims that he can predict his end-of-day income. “I’ll usually be within $20,” he adds.

Alvo’s many years as a taxi passenger also helps him relate to his clientele. When finance guys jump in the back, they’re often surprised how well-versed their driver is in the fits and starts of the bond market.

“It’s fishing,” he said about his new career. “If you don’t know what you’re doing, you’ll never catch a fish. But if you know what you’re doing, you’ll have dinner every night.”

More: Austin Cab Drivers Can Now Charge A $100 Puke Tax

You Can Always Be An Entrepreneur

Driving a cab might not seem like it provides much opportunity for innovation. But Alvo says that he has always been an entrepreneur in spirit, and since around 200 people a week took a ride in his car, the chances were that at least someone, he thought, if they knew his credentials, would have a job lead. <span …read more
Source: FULL ARTICLE at DailyFinance