Tuesday, December 14, 2010

Sierra in the News

Journalist Jotham Sederstrom has a wonderful interview with our own Peter Braus in The Commercial Observer about ideas for Pier 57.

The good folks at
City Biz report that Demetri Ganiaris has joined Sierra Realty as senior vice president of acquisition and development. Ganiaris has more than 15 years of experience inNew York City real estate and economic development. Prior to joining Sierra Realty, Ganiaris was a founding member and managing principal of Alder Real Estate Partners, a real estate advisory and brokerage firm that provided asset management and strategic planning services for such clients as Brevet Capital, Aris Real Estate Partners and EEK Architects. He previously worked at Vornado Realty Trust and the New York City Economic Development Corporation in the areas of program management, leasing, construction, contract management and real estate transactions. We are so pleased to have him aboard
.

And again, Jotham Sederstrom writes in The Commercial Observer about Garry Steinberg moving from a highly successful career in retail to brokering space for the same with us at Sierra Realty. Awesome photo!

The Real Deal reports that our new building, former Swig FiDi, a seven-story, roughly 40,000-square-foot vacant commercial building at 140 William Street, is seeking tenants for the first time since it changed hands, after sitting vacant for several years. The tenant could be, well, anybody! The building could easily accommodate residential or commercial occupants, or even a hotel.

Monday, November 29, 2010

Articles 11.29.10

Current property valuations: I am constantly being asked whether property valuations are decreasing because of increases in capitalization rates. While capitalization rates have increased over the last two years what is more significant is the way in which properties are currently being underwritten. During the boom years, most underwriting utilized assumptions of projected large increases in rents often projecting increases of double digits each year. A clear sign of a market that was out of control. Currently, underwriting has come down to earth with more realistic rent projections. Consequently, property values have been more affected by the change in underwriting standards than by any change in capitalization rates.

Proposed Change in Lease Balance Sheet treatment: for those of you (hopefully, this is all of you) who don't regularly read the International Accounting Standards report you should be aware of a proposed accounting change that could significantly affect how companies view long-term leases. Could these changes encourage more companies to purchase office condominium units? Take a look at the article “Tenants, Landlords Could Face Dramatic Changes.”


High-tech Gizmo of the Month: observed in Boston, a trash can that compacts garbage using solar energy. The benefits: greater capacity for the garbage bin and easier and tidier collections.


Take a tour of the new East River Waterfront: having recently completed a tour circumnavigating Manhattan, I was struck by the huge number of new public parks that have open all around the perimeter of the island. One of the last missing pieces in this puzzle is the East River Waterfront, which, once this park opens, will be completed.

A country built on debt cannot stand: Abraham Lincoln once famously stated that a “House divided against itself cannot stand.” If he were alive today he might modify his speech and announce, “a country built on debt cannot stand.” More and more the American economy has become dependent upon consumer spending that is fueled by debt (either expensive credit card debt or, even worse, debt secured by second and third mortgages on a primary residence). No surprise then that during an economic contraction our economy goes into a deep swoon with high levels of bankruptcy and foreclosures. While less debt will result in less vigorous economic growth it will also result in fewer and less drastic economic downturns. Why then do we continue to bemoan the fact that the US consumer is spending less and saving more? Ultimately, this will lead to slower growth but more economic stability. Read “Consumer debt tumbles $100 billion.”

Do you think they paid overtime? Check out “Chinese workers build 15 story hotel in just six days.” You may want to think twice before checking into this resort.

For some interesting statistics about the third quarter multi-family sales market take a peek at the article “About that Third Quarter.”


Monday, November 15, 2010

Sierra in the News

Journalist Adrianne Pasquarelli in Crain's New York business reports that high-end Italian menswear retailer Tincati is making its U.S. debut in the Big Apple. The Milan based company recently signed a 14-year lease at 20 E. 63rd St., between Fifth and Madison avenues. The lease includes all 6,000 square feet of retail space in the five-story townhouse, nearly 1,100 square feet of which are on the ground floor. Asking rent, including taxes, was $800,000 a year. That price translates to a blended rent of $133 per square foot for the building.

The good folks at Real Estate Weekly have a story on our recent hire of Garry Steinberg, a licensed broker and seasoned commercial real estate specialist with more than three decades of experience in the fashion industry, as managing director. Steinberg will focus on the fashion, cosmetics, home and accessories industries.


The Mann Report also has a nice story up about Brooke Lovell, our new vice president of communications and marketing. Brooke will focus on our long-term marketing strategy, corporate communications, and managing client marketing campaigns.

Over the years, [Braus] has represented such landlords as the Battery Park City Authority, C&K Properties, Goldman Sachs and the ownership of Brown Harris Stevens. Braus represents M&T Bank in New York City and has secured numerous locations for the bank, including their flagship location at 11 West 42nd Street. Recent transactions include the new Francois Payard Bakery at 116 West Houston Street and Sarabethʼs Tribeca location at 339 Greenwich Street. He has also been responsible for dozens more lease transactions in Nolita, Soho, and Tribeca for brands like Ed Hardy and Sigerson Morrison.

Tuesday, October 19, 2010

Articles 10.19.10

Food Glorious Food!
As a partial result of the economic downturn, street food has evolved significantly over the past two years. Affordable, good quality food and low operating expenses have become top priorities on the NYC lunch scene, and entrepreneurs have discovered that the food truck is far more cost-efficient than opening a restaurant. The trend is growing and the wide variety of foods being offered by these trucks is only exceeded by the various walks of life from which the entrepreneurs come.

Food trucks have now become such a part of our epicurean pop-culture that they even have their own annual awards -- the "Vendy’s." For a quick, cheap curbside meal, visit one of these trucks.

For those food snobs among you who wouldn't be caught dead eating a bison burger at a curbside food truck check out the article "Best of NYC Dining: 10 Most Exciting Restaurants."

And for the latest trends in restaurant design take a look at the article "Great-good-places."

Now that you've gorged yourself on a cholesterol-rich lunch from the trucks then hit one of Manhattan's most exciting restaurants for dinner, you should read the article "Fourth Stroke Indicator." Early detection can be an absolute lifesaver.

Innovations in Parking

An idea whose

time has arrived! Bicycle parking, one dollar a day, $20 a month. No more biking around with a 25 pound chain and lock wrapped around your waist.


For truly cutting edge parking technology take a look at the presentation for the "Multi-Parker 730."


Road Trip!

Next time you're itching to put the pedal to the metal and feel the wind of the road ripping through your golden locks, take look at the article "27 Ultimate Road Trips" first for some interesting rides.


Monday, August 30, 2010

Articles 8.31.10

Local Manufacturing Jobs: stick a fork in it, it's done?
Contrary to popular belief manufacturing as an industry is not dead in New York. In fact, as the article "Made in Brooklyn" illustrates certain types of manufacturing jobs are thriving in New York.

Grab your Nuts and Have Sex 700 times a year: The Best Health Advice I've ever received.
Need I say more?
Check out "What Works."

New York Uncovered
One of the great things about living in New York City is that it's very difficult to get bored. The city is dynamic, multicultural, and amazingly diverse. I've lived here over 50 years and can always find something new to explore. Two recommendations: Chicago has its famed architectural tour conducted from a tour boat on the river. Now New York has a similar tour. If you're a building nut like my wife and me, I heartily recommend this tour. For more information look at the
article "A Singular Perspective on the Urban Mosaic."

For something more pastoral, take a trip to Governors Island. Viewing it from a distance does not do it justice. It needs to be experienced to be truly appreciated. Besides being architecturally interesting and offering great views of the city where many cultural programs that are going on there that should be experienced. Go by yourself or bring the kids. The
article "Governors Island as Playground" is aptly named.

How to Seduce a Community
Given the experience of Wal-Mart in unsuccessfully attempting to open its first store in New York City over the past decade it is somewhat surprising to find other big-box retailers who have succeeded where the country's biggest retailer has failed. For a primer on how to accomplish this difficult task take a look at the
article "A Decade of Wooing."

How to Push a New Yorker's Buttons
We all have our pet peeves. The
article "What drives New Yorkers up a wall" describes New Yorker's top annoyances. Don't expect too many surprises.

Jingle Mail
Those of you who are regular readers of my blog know my fascination with various terms that crop up from time to time that indicate what is going on in the marketplace. The newest entry "jingle mail" refers to a property owner mailing the keys to a property back to their lender. Definitely a sign of the times!

And the winner is!
(And, no it's not "Stairway to Heaven." So what is
Rolling Stone's top rock 'n roll song of all time? Take a look.

Friday, August 13, 2010

News and Views, August 13

Stats and the City
What I found particularly interesting is that while $2 today buys you what $1 got you in 1985 (a 100% inflation rate over 25 years), average apartment prices for a one bedroom co-op/condo in Manhattan have increased 185% (significantly higher than the inflation rate), the average asking rent for commercial space has increased 76% (significantly less than the inflation rate), and the average 30-year fixed rate for New York area co-op mortgages has decreased from 13.28% in 1985 to 5.13% in 2010 (which probably explains why the appreciation in co-op/condo prices has greatly outpaced inflation during this period).
Also interesting is that while the city's population increased by 1.2 million people over the 25-year period, the number of people employed only increased by 200,000 during that time. Yet the unemployment rates were 8.2% in 1985 and 9.4% in 2010. Given the large increase in population relative to the modest increase in number of people employed over the same period together with slightly disparate unemployment figures it's difficult to explain this phenomenon.
My guess is that the number of children and elderly in the city relative to those in the workforce has increased significantly during this time period.

Operating Figures for Rent Regulated Housing
The "Highlights from the first three RGB Reports" provide some very interesting statistics relating to rent regulated housing in New York. The statistics are based on 2008 data and show that the average monthly rent for all rent stabilized units was $1,012 per unit ranging from a high of $1,404 in Manhattan to $743 in the Bronx. Operating and maintenance costs averaged approximate $739 per building.
The most startling number to me, however, was the number of properties that are characterized as "distressed" (buildings that have operating and maintenance costs greater than gross income). At 12.8% (or one in every eight buildings) this is an extremely upsetting number, particularly given that this was data collected based upon 2008 results which, for the most part occurred before the economic downturn fully affected New York.
I would expect that for 2009 and 2010 this statistic will be even worse. Under no set of circumstances is it healthy for 1/8 of the rent regulated housing stock to be in distress. This is bad for landlords, the tenants who have to live in substandard conditions as a result, and the city and the state that stand to lose significant tax revenues as a result and who ultimately may become the landlord of last resort.

Alive and Well!
It's expected that the 2010 census will demonstrate the resilience and strength of our city. New York is the only large city in the Northeast and Midwest, including Philadelphia and Chicago, that has shown substantial population gains since 2000. In fact, New York City has been adding, on average, almost 1000 people a week since 2000. What's even more interesting is the characteristics of these people and what it tells us about how the city has changed during the past decade and what we can expect going forward. For more information check out Crain’s white paper on "what the 2010 census..."

Three Years of Law School and This is What We Get
A recent newspaper article headlined " Alton attorney accidentally sues himself". Can't say that I'm surprised.

Great Idea of the Week

25 Big Ideas to Change New York

No, It's Not "Stairway to Heaven" (volume 1)
Rolling Stone magazine just published their list of the 500 greatest songs of all time. I've included their list of the second through 10th. Number one will be included in my next blog posting.

Thursday, July 29, 2010

Sierra in the News

Some interesting news this week:


  • Attention cupcake lovers! The Real Deal reports that Sierra helped our fave bakery, Sprinkles Cupcakes to lease 780 Lexington Avenue, across the street from Bloomie's.

and finally,

Tuesday, July 6, 2010

News and views, July 6

Distressed Assets and Foreclosures

Since everybody seems to want to get into the distressed asset business, I thought it would be useful to include an excellent e-cast on the subject. (My thanks to the Berdon LLC firm for allowing me to publish this.)

The Death of the American City

My wife and youngest son have a quest to visit every major league baseball stadium in America. This quest has taken us to many of our country's cities. Being a native New Yorker, I typically envision cities as being centers of bustling activity and commerce. My visits to other cities in the country have shown me that often my vision could not be further from the truth. Many downtowns become virtual ghost towns in the evenings and on weekends. It is very strange to wander these downtowns on a beautiful weekend day and rarely see another person. What is the cause of this phenomenon?

One culprit is the automobile and the creation of the Interstate Highway system in 1956. At the time of its creation, the Interstate Highway System was thought to be critical to our national defense by enabling troops and military supplies to move freely and quickly around the country in case of an emergency or foreign invasion (while that may sound silly today, let's not forget that this was during the height of the Cold War). In response, governments constructed elaborate highway networks in and around their cities' downtowns which, rather than facilitating the movement of troops and supplies, encouraged the flight of the middle and upper class to the ever widening bands of suburbs being developed in the surrounding areas.

Cities began to lose their lifeblood as a result of automobile culture, and as they did, tax bases eroded, services were cut and taxes increased- accelerating and perpetuating an upper and middle class exodus. As we become more attuned to the destructive effects of automobile-created sprawl on communities, culture and natural resources, we must invest in our mass transit infrastructure to reverse it, cultivating an urban density characterized by shared resources and integrated communities. A beginning of this reversal trend can be traced to the artists and urban pioneers who have adopted many cities' deserted and deteriorating neighborhoods, often out of necessity, revitalizing some of the most desolate, underused urban territories that have now become vibrant and valuable parts of the cities' fabric.


A Radical Proposal to Remake Government

I, like many of you, pay a lot in taxes. It seems that our elected representatives look at us as ATM machines available 24 hours a day/7 days a week to pay for their pet programs. It's not that I necessarily disagree with the purposes of their programs but rather more a belief that governmental agencies are so grossly mismanaged that much of our tax dollars are wasted. For me, it is not necessarily that I would like to keep more money for myself, after all even after I pay my taxes every year I still contribute significant amounts to various charitable organizations. It's that every time I read a story about non-competitive bidding for multi-billion-dollar defense contracts, $200,000 annual pension payments to government workers and the like, I cringe. So the question is: what can we do to incentivize our government to spend our tax dollars as frugally and wisely as we would if we were spending it ourselves? Privatization is a partial answer but not always satisfactory when it comes to providing quasi governmental services that serve the public good but do not generate a profit. My suggestion: allow taxpayers to take a dollar for dollar credit against their taxes (as opposed to the current deduction that the tax code allows) for any contributions they make not for profit organizations that provide quasi-governmental services. Not only would this force government to be more competitive and pay more attention to the bottom line, it would also give taxpayers substantially more control over how their tax dollars are being spent which may actually encourage even more giving than would otherwise be collected through taxation. Obviously, there are numerous issues that would have to be addressed in creating such a system but encouraging competition with government would go a long way to compel a government to function more effectively and efficiently.

Interesting Fact: Persistence Pays Off

Other than the presidency, Abraham Lincoln lost every election in which he ran.

Pigeon Poop: Some Interesting Facts about these Ubiquitous Birds or "Always Look-up as you walk"

  • Number of pigeons in greater New York City area: 7 million
  • Number of pigeons served in both world wars, as messengers: 1 million
  • Pounds of pigeon poop produced yearly per pigeon: 25 (do the math-that's a total of 175,000,000 pounds of pigeon shit produced every year in New York City. I shudder to think where it all goes!)
  • Miles per hour on pigeon can fly: 60 (the fastest animal in the world, the cheetah, can run up to 70 mph)
The Smarter Planet

For the first time in history more than one half of the world's population lives in cities. By 2050, that number could rise to 70%. IBM has created a really cool website showing their perspective of the future of cities and the earth. If you thought Fritz Lang's movie "Metropolis" was really cool you should definitely check out this website.

Recommended Websites

Occasionally, I come across websites that are particularly useful:

Cheap parking: For cheaper parking rates and discount certificates check out www.bestparking.com.

Great productivity tool: this website allows you to dictate memos etc. into your cell phone and have them transcribed and e-mailed back to you as text. Accuracy is pretty good.

A Personal Story

If you have a child who is struggling with a learning disability, this article recounts our family's experience struggling with -- and ultimately conquering -- our oldest son's learning disability.
Our son is now 19 years old and is a very successful student at University of Vermont. This article reminds me of the difficulties we experienced in dealing with his learning disability but also the tremendous gratification we felt on his success. I couldn't be prouder of my son for his accomplishments.

Wednesday, June 30, 2010

This Week's News Roundup

The Mann Report has a fun story about how we at Sierra tackled the impossible -- Peter Braus brought his years of restaurant leasing experience to bear -- and Murray Hill foodies prevailed!

CityBiz Real Estate reports on Sierra Development LLC, launching a new division headed by 30-year construction executive Gary Zaid, expanding our service lines to include construction and project management and owner and tenant representation. Real Estate Weekly has a nice report on our new division launch here also.

Socialnews.biz has a nice intro piece on Gary Zaid joining Sierra Realty as SVP.

Wednesday, June 16, 2010

This Week's News Roundup

Click on any of the following links to read the stories -- this week's interesting real estate business news:

Crain's New York Business notes that restaurateur Ed Martinson signed a 20-year, 5,000-square-foot lease at 45 E. 30th St. Peter Braus and Peter Levitan of Sierra Realty Corp. represented both the tenant and landlord, 43 Park Owners Group. Mr. Martinson's new restaurant is scheduled to open this summer.

REBNYʼs annual Retail Deal of the Year awards highlighted the Best of 2009. Above, Ripco Real Estateʼs Peter Ripka (joined by Sierra Realtyʼs Peter Braus) holds his award for the deal that “Most Significantly Benefits Manhattan” -- the leasing journey of the 475k SF East River Plaza, which turned a dilapidated manufacturing plant into a retail destination.

M. Marianne Thorsen and An-Chi Miau of Sierra Realty are handling Hotel East Houston at 151 East Houston, between Eldridge and Allen streets, on the market for $25 million. The newly constructed hotel, comprising 15,395 square feet and six stories, has 42 rooms with custom-made furniture, wood finishes and marble bathrooms. In addition, the hotel has a banquet facility, nearby parking and a rooftop terrace and lounge that overlook the Hudson River.

Sierra Realty Corp. launched Sierra Development, its new construction and development division, which will be led by Gary Zaid. This expands the companyʼs service lines to include construction and project management, owner and tenant representation, general contracting, value engineering, and development services.


Tuesday, June 1, 2010

Computers are bad for you (unless you are a lawyer billing by the hour)

As I sit here reading the fifth draft of an 80 page lease, I can’t help but to think that if it had not been for the advent of the computer I could probably be doing something far more productive with my time.

Back in the big hair day of the early 80s when I was a practicing attorney and before the widespread use of computers and word processing software, it was rare that a lease would exceed 20 pages or go through multiple drafts before being finalized. Ironically, the advent of computers did not necessarily make the practice of law any more productive but instead encouraged the creation of excruciatingly long and complex documents that can be negotiated ad infinitum until either the lawyers tire of the game or the client finally screams "uncle."

Back in the good old days of low technology typewriters, onion skin paper, "white out," and correction tape making wholesale changes to a document was very difficult and time-consuming. Consequently documents were kept simple and were not over-negotiated. Have we really accomplished anything today by preparing complicating leases and having long protracted negotiations? Other than the exorbitant legal fees that often accompany these documents, probably not!

Friday, May 28, 2010

Mortgage Recording Tax Savings

Did you know that any taxpayer who has paid mortgage recording tax is entitled to a one quarter of a point refund of the amount paid? On a $5 million loan, this would be a $12,500 refund. Definitely not chump change. The proper way to obtain the refund is by claiming a credit on your tax return (I assume it is claimed on the New York state tax return) that is filed for that year. If this is something that you failed to do for any mortgages you refinanced or obtained over the past several years, you are not completely out of luck. There's a three-year statute of limitations on obtaining a refund. However, for any past tax years you would then need to file an amended return. Depending upon the amounts involved, this is something you may consider taking advantage of.

Graffiti Removal Program:

A new law recently went into effect (Local Law 65-2009) that fast tracks removing graffiti on buildings in New York City, and makes it easier for business owners and residents to get it removed at no cost.

How the graffiti-free process works: the new law went into effect on April 7, 2010, and the Administration has been focused on smoothing out technical issues that might arise as the 35-day notices are sent in to city government. The highlights of the law are:
  • If you’re the owner or authorized representative of a property, you can request free removal of graffiti on your building by filling out a Forever Graffiti Free form here. (Forms are also written in Spanish and Chinese).
  • If you see graffiti on someone else’s property, call 311 to report it.
  • If graffiti is observed on your building and you do not already have a Forever Graffiti Free form or waiver in the City’s system, you’ll receive a “Notice of Intent to Clean” from the Department of Sanitation.
This notice will explain that you have three options:
  • You can inform the City that you want to clean the graffiti yourself. Call 311.
  • You can inform the City that you consent to the markings identified as graffiti on your building, for whatever reason. Call 311.
  • If you don’t take either of those two steps, the City will route your property for cleaning after 35 days.
A few things to note:
  • The City of New York will send the “Notice of Intent to Clean” to all addresses on file for the property, checking all City databases (DOF, HPD).
  • Property owners or representatives can request a 15-day extension, if they need more time to make up their minds.
  • If you already have a waiver or Forever Graffiti Free form on file, you don’t need to fill another one out as long as you own the property.
Here are more detailed FAQs.

Friday, March 19, 2010

Sierra in the news

Emily Geminder in The Commercial Observer has a nice mention of our lease with pastry chef François Payard and his new shop in Greenwich Village. The 8,000-square-foot bakery and cafe on West Houston Street will come to a neighborhood that is, as our own Peter Braus said, "renowned for its great culinary personalities." Sierra is the exclusive broker for the Y&H-owned building. Ruth Shnay, also of Sierra, represented Mr. Payard, along with independent broker Nevin Danziger, in the negotiations for the 15-year lease.

Delicious news!

Wednesday, March 3, 2010

Articles 2.03.10

Two interesting articles.

From the New York Housing Journal: deadbeat tenants getting you down? Believe it or not, there is something you can do to deal with the deadbeat tenant that only pays rent once you start legal action. Check out "How to Win A Chronic Nonpayment Case."


And from Time Out New York: "100 Best Things... You Must Eat and Drink."
Prepare yourself for the finest burger in the city, plus life-changing fired chicken, pizza, sea-urchin toast, and caramel-chocolate popcorn.

Friday, February 26, 2010

Buzz Words du jour

Our industry, like many others, loves buzzwords.

Often, a lot can be read into these buzzwords besides just their intended meaning. Probably the buzzword that best exemplifies a word or phrase that has meeting way beyond that which was intended is the phrase "burn rate."

For those of you with short memories this phrase came to prominence during the dot com boom and referred to the rate at which unprofitable "new economy" (another buzzword rife with unintended meaning) companies were burning through their capital.

Unbelievably, at the time this was not necessarily meant to be a bad thing but just another metric to be considered in valuing a business. However, in retrospect and with the value of hindsight, it is clear that this buzzword signified the mania of an era.

Similarly the term "capital stack" (sorry, but it makes me think of pancakes) is a recent real estate industry buzzword that has similar significance. It refers to the many layers of equity and debt and hybrids of each that are created as part of the "financial engineering" (another great buzzword) to allow developers and property entrepreneurs to acquire huge amounts of real estate with little or none of their own money.

What this innocuous term really signifies is a transaction that is so overly leveraged that the capital stack is in danger of collapsing. This buzzword pretty much sums up the last five years of our industry.

The Law of Unintended Consequences

During a period of economic downturn and increasing unemployment, it is important to consider the many obstacles to economic growth that have been created by well-meaning laws meant to address a whole host of societal problems.

While many laws have been passed that on the face of it serve a very high moral purpose, often they have an unintended consequences that can stifle economic growth and, ultimately, cause more of a problem than the evil they were meant to address.

Anyone who has managed a business over the past 20 years has witnessed how the landscape of employer/employee relations has changed to the point that the ability of a company to manage employees has become so fraught with potential litigation etc., that hiring decisions are influenced by the potential "litigation cost" of each employee. All it takes is for one grievance or lawsuit to be filed by an employee against an employer for that employer to allow future hiring decisions to be affected as result.

Because of the breadth and magnitude of well-meaning laws enacted to protect employees and various classes of individuals it is difficult, if not impossible, to run a company for any period of time without at some point being sued. Compounding this problem is that the bar is so low for an "aggrieved" employee to file a claim or initiate a lawsuit against a employer that many claims are filed and suits commenced that have little or no merit.

And while these claims may ultimately be decided in favor of the employer, the employer still incurs significant expenses to defend these actions. Almost every small business owner I know has had such an experience. Recently, an organization I support suggested supporting a law that would require employers to allow employees to take time off during the course of the day to attend parent teacher conferences at their children's school.

While I am sympathetic to this as an employer and would allow my own employees to take time off for such purposes, I objected quite strenuously to supporting a law which would mandate that employers grant such leave. I felt very strongly that inviting the government to micromanage how businesses function in this manner only ultimately acts as a disincentive to hiring and that the law should not be supported. In fact, rather than enacting new laws now that will stifle business and economic growth our politicians should focus eliminating existing laws that discourage hiring and are of marginal utility.

Falling Water

Falling Water: Not your typical Tudor, colonial or ranch style house, "Falling Water" is a Frank Lloyd Wright masterpiece. Watching this video will help you truly appreciate the genius of his architectural style.