22 Jul
Member News, News

Residential Real Estate Valuation Model Contest

Real estate valuation modeling (specification and calibration) has evolved significantly in the past 40 years. To demonstrate the current statistical quality and variety of valuation model structures, the GIS/CAMA Technologies Conference organizers, International Association of Assessing Officers (IAAO) and Urban and Regional Information Systems Association (URISA) and sponsor, NCSS, LLC, are supporting the Residential Valuation Model Contest. IPTI, the International Property Tax Institute, a member of the EACCNY is asking beginner-to-expert volunteer modelers to provide their talents for the competition....

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22 Jul
Chapter News

Investment Plan for Europe: European Fund for Strategic Investments ready for take-off in autumn

Today the European Commission has put the final building blocks in place to kick-start investment in the real economy. A package of measures agreed today will ensure that the European Fund for Strategic Investments (EFSI) is up and running by early autumn 2015, keeping the ambitious timetable set by President Jean-Claude Juncker to implement the Investment Plan for Europe. The Commission has just published a Communication on the role of National Promotional Banks (NPBs) in supporting the Investment Plan for...

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22 Jul
Member News, News

CBP Issues Directive on GSP Refund Procedures

On June 29, 2015, President Obama signed the Trade Preferences Extension Act of 2015 (H.R. 1295), which renewed the Generalized System of Preferences program (GSP), effective July 29, 2015 and retroactively to July 31, 2013. CBP has posted a directive on its website outlining how it intends to process duty refunds for GSP eligible merchandise which was entered between July 31, 2013, and July 29, 2015. CBP states that it will process refunds for entries filed via the Automated Broker...

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21 Jul
Member News

A very Special Moment for Sixième Son

By Michaël Boumendil, Managing Director & Founder, Sixieme Son – A member of the EACCNY I want to share a funny adventure that has just happened to us. It has been in the press but I wanted to tell you the story directly. At a time when preparations began for the 20th anniversary of Sixième Son, David Gilmour of Pink Floyd offered us a wonderful gift. David is not only singer and guitarist for Pink Floyd, he’s a legend, he is...

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20 Jul
Member News

TREPP Trading Alert: A&P Files for Bankruptcy for Second Time in Five Years

According to the Wall Street Journal and others, grocery chain A&P filed for bankruptcy yesterday for the second time in five years. The Chapter 11 filing will result in 25 stores closing in the near future and another 120 being put up for sale. It was said that Acme, Stop and Shop, and Key Foods were among the bidders. The firm operates under various names in the Northeast and Mid-Atlantic states of the US. A posting on the ...

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20 Jul
Chapter News

EU Council Conclusions on Climate Diplomacy

1. Recalling its conclusions of July 2011 and June 2013 and the Foreign Affairs Council discussion of January 2015 which endorsed the Climate Diplomacy Action Plan, the Council adopted the following conclusions: 2. Climate change, as underlined by the latest scientific findings by the Intergovernmental Panel on Climate Change (IPCC), is a decisive global challenge which, if not urgently managed, will put at risk not only the environment but also world economic prosperity, poverty reduction, sustainable development and, more broadly,...

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20 Jul
Chapter News

EU Council Conclusions on Energy Diplomacy

1. The Communication "A Framework Strategy for a Resilient Energy Union with a Forward-Looking Climate Change Policy" of 25 February 2015 and the European Council Conclusions of 19-20 March 2015 recognised the importance of the external dimension of the Energy Union. The objectives of the Energy Union can only be met if the external and the internal dimensions of energy policy, in particular a fully functioning Internal Energy Market, are mutually reinforcing. 2. EU policy objectives defined in the EU...

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20 Jul
Member News

Tenant Departure Weighs on Property, 2005 Office Loan Won’t Pay Off

The $56.8 million Cedarbrook Corporate Center Portfolio loan was sent to special servicing according to July remittance data. The borrower indicated that it "does not expect to be able to refinance at maturity (10/1/15) due to the potential loss of a major tenant in December 2015." The loan is supposed to pay off in October 2015. The collateral is comprised of three research and development buildings and one Class A office in Cranbury, New Jersey. In total, the four buildings contain 339,428...

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17 Jul
Chapter News

Eurogroup statement on Greece

The Eurogroup welcomes the successful completion of the relevant national procedures related to the decision to grant in principle a 3-year ESM stability support to Greece, and especially the recent swift legislative steps taken by the Greek parliament as a first step towards rebuilding trust.  Following a formal decision taken by the ESM Board of Governors, the institutions were entrusted with the task of swiftly negotiating a Memorandum of Understanding (MoU) detailing the policy conditionality attached to the financial assistance...

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17 Jul
Chapter News

Update on Greece: European Solidarity in Action

Remarks by Valdis Dombrovskis EU Commission Vice-President for the Euro and Social Dialogue |  Brussels, 17 July 2015 Good afternoon everybody, This has been a week of important decisions in terms of helping Greece to regain financial stability and to put its economy back on track. These decisions are ultimately being taken for the sake of Greek people. First, the Greek Parliament adopted, with a large majority, the first set of reforms. It was a first but crucial step towards rebuilding trust between...

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