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issues of condition ・ too complex to be explained?

Extraordinary that there may be ” … a consensus that issues of condition, and the work of conservators, are too complex to be explained to gallery visitors as a matter of course” (Burlington Magazine, as reported by The Art Newspaper).

Physical condition is a fundamental component of value of tangible assets, inclusive of works of art, buildings, and houses.

Neither the art market nor the real estate market are “hermetically sealed,” or entirely self-sufficient, existing apart from condition, as some believe and might like to believe.

See:

“How to identify a wreck” | Bendor Grosvenor, The Art Newspaper, 18 December 2017

#art #conservation #conservators #connoisseurship #collections #collectionsmanagement #condition #value #artmarket #tangibleassets #luxury #smartluxury #urbanluxury #architecture #design #engineering #resilience #CO2 #realestate #commercialrealestate #culturalrealestate

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The Getty | a Type 1-rated complex, designed & built to resist fire

The Getty Center in Los Angeles performs.

The New York Times and Reuters highlight how the Getty Center has been designed and built to provide resilient stewardship and protect its art holdings, even in a fire- and earthquake-prone area.

The Getty’s design, “and a plan developed with insurers eager to keep the valuable collection safe” [the Getty works with commercial property insurer FM Global], help protect the art from damage.

The Getty’s architect, Richard Meier, built fire resistance into the billion-dollar complex, said Ron Hartwig, vice president of communications for the J. Paul Getty Trust. These hills are fire prone, but because of features like the 1.2 million square feet of thick travertine stone covering the outside walls, the crushed rock on the roofs and even the plants chosen for the brush-cleared grounds, “The safest place for the artwork to be is right here in the Getty Center,” he said.

Within that lovely milky travertine skin, the buildings have reinforced concrete walls and automatic fire doors that can trap fires in sealed-off areas. A carbon-filtered air conditioning system pushes smoke out instead of letting it in, and the internal sprinklers — whose pipes remain dry until needed, to avoid damaging accidents – stand ready to douse flames.

“Should any fire move within one of those compartmentalized areas, it can’t get anywhere,” said Michael G. Rogers, director of facilities at the Getty. Since water supplies can be cut off in a disaster, The Getty has its own million-gallon water tank buried under the parking garage. The result is a complex that is rated Type 1, the highest level of fire resistance.

See:

“Why the Getty Center’s Art Stayed Put as Fires Raged Nearby” | John Schwartz and Gilbert Gates, The New York Times, 12 December 2017

“California’s Getty museum survives wildfire, ready for quakes” | Suzanne Barlyn, Reuters, 8 December 2017

The Getty Center

#Getty #GettyCenter #art #museums #collections #collectionsmanagement #stewardship #scholarship #conservation #preservation #resilience #fire #smoke #particulatematter #airfiltration #design #architecture #RichardMeier #engineering #California #LosAngeles #luxury #urbanluxury #smartluxury #realestate #commercialrealestate #culturalrealestate #insurance

 

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San Diego performs ・three San Diego scientists awarded the Breakthrough Prize for 2018

San Diego performs.

Three of the seven Breakthrough Prize awards (each of $3 million; founded in 2012 by tech entrepreneurs including Sergey Brin, the Google co-founder; Mark Zuckerberg, the Facebook co-founder; and Anne Wojcicki, co-founder of personal genomics company 23 and Me) for 2018 went to San Diego scientists in recognition of their research and achievements in life science, bio-medicine, and math. The prize for achievement in math is shared equally between UCSD and the University of Utah collaborators.

It is a short distance from downtown San Diego walk-ability and luxury, such as the Kohn-Pedersen-Fox-designed Pacific Gate, with interior design by Hirsch Bedner Associates (HBA), not only to the airport but also to the universities and research institutes.

See:

“Sweet recognition — and major cash — for three San Diego scientists with Breakthrough Prize” | Bradley J. Fikes, The San Diego Union-Tribune, 3 December 2017

Breakthrough Prize

#realestate #luxury #smartluxury #urbanluxury #BreakthroughPrize #UCSD #SalkInstitute #science #tech #engineering #commercialrealestate #walkability #downtown #downtownofcourse #education #PacificGate #international #global #globalluxury #KPF #KohnPedersenFox #HBA #HirschBednerAssociates #architecture #design #interiordesign

 

 

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the newly-opened & very lovely Louvre Abu Dhabi

The result of an intergovernmental agreement signed in 2007 and opened to the public on November 11, the $1 billion Louvre Abu Dhabi is a museum of juxtapositions and chronology that serves many purposes.

The museum is an integral “part of the town and of life [La ville et la vie],” (the museum’s architect Jean Nouvel). The museum is an expression of “soft power” and enhances a cultural strategy to serve as a bridge between civilizations and counter tensions in the region (Zaki Anwar Nusseibeh, the U.A.E. minister of state). The museum presents “a narrative of humankind from the beginning of knowledge, using art as a witness of the times,” (Jean-François Charnier, the project’s chief curator and scientific director for Agence France-Museums).

An iteration of a north African medina and rising no more than 30 feet in most places, the museum is composed of 55 separate pavilions, some beneath a 180-meter-diameter, 7,500-ton dome. The dome is comprised of eight layers of interlocking steel and aluminum effecting more than 7,800 perforations that filter the hot Arabic sun into brilliant spots of light that dapple the walls.

The Louvre Abu Dhabi is designed to achieve LEED silver. It has already achieved a 3 Pearl Estidama Design Rating. The museum creates a comfortable micro-climate with passive design techniques. Such techniques include a concept based on traditional regional architecture, passive water and energy conservation techniques, and highly efficient HVAC systems, lighting, and sanitation. Other techniques include the use of solar shading provided by the dome roof, the self-shading of buildings, the roof perforations that allow daylight without excess solar gain or wind flow, and exposed thermal mass such as stone floor and cladding that benefit from night-time cooling.

There are 23 galleries for the permanent collection, a huge, 2,000-square-meter temporary exhibition space, a children’s museum, and a waterside restaurant. The complex is designed to be used as a social space in the evenings.

See:

“Inside the Louvre Abu Dhabi with architect Jean Nouvel” | Caroline Roux, The Telegraph, 14 November 2017

“The Louvre Abu Dhabi Puts a $1 Billion Spotlight on Globalization – But Makes Some Glaring Historical Omissions” | Javier Pes, Artnet.com, 8 November 2017

“Louvre Abu Dhabi, a Cultural Cornerstone Where East Meets West” | Doreen Carvajal, The New York Times, 7 November 2017

The Louvre Abu Dhabi | About Us, Architecture

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Leonardo’s ‘Salvator Mundi’ sells for US$450,312,500, makes auction history

Breaking (smashing through) auction records, Leonardo da Vinci’s “Salvator Mundi” (oil on panel, painted circa 1500) has sold today at the Christie’s Post-War and Contemporary Art Evening Sale in Manhattan for $450,312,500 (hammer price plus buyer’s premium, net of any applicable fees).

The New York Times quotes art advisor Todd Levin as saying, “This was a thumping epic triumph of branding and desire over connoisseurship and reality.”

Alan Hobart, director of London’s Pyms Gallery, observes, “It’s been a brilliant marketing campaign. This is going to be the future.”

See:

Post-War & Contemporary Art Evening Sale | Christie’s, New York, 15 November 2017

“Leonardo’s Salvator Mundi makes auction history” | Christie’s, 15 November 2017

“Leonardo da Vinci Painting Sells for $450.3 Million, Shattering Auction Highs” | Robin Pogrebin and Scott Reyburn, The New York Times, 15 November 2017

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information, asset condition, & advantage

When buying, selling, or using a tangible asset such as a home, building, or work of art, the condition of the tangible asset is important. Condition affects the purchase, use, and sale of a tangible asset.

What factors inform the condition of tangible assets and the markets for tangible assets? There are many.

The New York Times has been following the interactions of the real estate market (purchase and sale transactions, predicated on condition) with documented effects of changing climate and more frequent occurrences of extreme weather.

Information and perspective around such interactions are presented in the November 24, 2016 article, “Perils of Climate Change Could Swamp Coastal Real Estate.”

Pertinent questions arise. What information. How sourced. How to make use of information. How to turn challenges into opportunities. Opportunities at point of purchase, at point of sale, and during the lifetime and use of the asset. Opportunities for health, wellness, lifestyle, and value.

Here is an excerpt:

“As difficult as it is to predict the pace of climate change, modeling how it will affect the real estate market is even more complicated. Like a game of hot potato, builders, homeowners, banks, flood insurers and buyers of securitized mortgages try to hand off risky properties before getting burned. Developers erect houses and sell them typically within a couple of years, long before their investments depreciate. Banks earn commissions even on risky home loans before bundling these mortgages into securities and selling them to large pension funds, insurers or other buyers.

“Home buyers tend to think short term, focus on what they can afford and hope that the local infrastructure keeps pace with the rise in sea levels. Home buyers are also generally on their own as they look at prospective properties and try to size up their risk, as real estate agents vary in what they disclose.

“… Good information is hard to come by. No one knows whether, when or by how much properties will depreciate, seas will encroach or flood insurance policies will change.”

See: “Perils of Climate Change Could Swamp Coastal Real Estate” | Ian Urbina, The New York Times, 24 November 2016

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M Moser Associates’ office in New York’s 1913-vintage Woolworth Building to be retrofit to Platinum WELL Building Standard

International architecture and design firm M Moser Associates is retrofitting and revitalizing their new office space on the 24th-floor of Manhattan’s Woolworth Building.

The Woolworth Building was built in 1913 and was, at the time, the tallest building in the world, engineered to maintain its own electricity, heat, and subway entrance, with windows that could, and still can, be opened when outdoor pollution levels are low.

While acknowledging challenges in retrofitting old office space, such as dealing with old electrical, old plumbing, and old HVAC, M Moser Associates points out that all buildings represent embodied energy and that embodied energy best be recognized and optimized.

As M Moser Associates revitalizes their office space on the 24th floor, the company will pursue both a Platinum Well Building Standard and USGBC LEED certification.

Initiated by Delos and the International WELL Building Institute, the WELL Building Standard is evidence-based, rating the quality of water, air, and light, and is geared toward occupant health, wellness, fitness, and productivity. The WELL Building Standard “marries best practices in design and construction with evidence-based medical and scientific research – harnessing the built environment as a vehicle to support human health and well-being.”

M Moser & Associates brings a similar focus on restructuring and re-engineering office space towards employee health, wellness, and productivity in all of its office spaces, including those in Hong Kong, London, San Francisco, and Guangzhou.

See:

“Woolworth Building Office in New York Becomes a Retrofit Lab” | Alyssa Danigelis, Environmental Leader, 30 October 2017

“Learning from Plans to Retrofit One of America’s Oldest Skyscrapers” | Adele Peters, Fastcodesign, 30 October 2017

Delos

#architecture #design #officespace #InternationalWELLBuildingInstitute #Delos #health #wellness #fitness #urbanliving #urbanluxury #luxury #realestate #commercialrealestate #CRE #builtenvironment #buildingtech #engineering #H2O #CO2 #HongKong #London #SanFrancisco #Guangzhou #resilience

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elegance in design & engineering meets recycling

Ten years in the making, a public-private partnership between the New York City Economic Development Corporation and Sims Municipal Recycling, a division of Sims Metal Management, designed and master-planned by Selldorf Architects, New York City’s 11-acre South Brooklyn Sunset Park Material Recovery Facility performs.

Opened in December of 2013, the 140,000-square-foot facility is the principal processing facility for all of New York City’s residential metal, glass, and plastic recyclables. The facility has the capacity to process 1,000 tons of recyclable material every day.

Selldorf Architects (architect to museums and galleries worldwide, including the Museum of Contemporary Art San Diego) organized the buildings to create the site’s own urban context and designed the facility to optimize environmental performance.

The buildings are made from 99% recycled American-made steel. The buildings, wharf, recycling equipment, and electrical substations are elevated four feet – using a blend of recycled glass and crushed stone from Second Avenue subway tunneling operations – to prevent damage from sea level rise and storm surges. New York City’s first commercial-scale (100 kW) wind turbine and the City’s largest solar installation (600 kW) generate energy on site. On-site storm water management is included as are two acres of native plantings.

Access by barge will help eliminate 150,000 annual truck trips (240,000 truck miles). Newly-renovated freight rail will be used for the export of processed recyclables.

See:

“Sustainability and Design Tour of Sunset Park Material Recovery Facility” | AtlasObsura, May 2017

“Selldorf Architects’ Sunset Park recycling facility in Brooklyn sets a new standard in sustainable design” | Pei-Ruh Keh, Wallpaper, 13 December 2013

“Mayor Bloomberg, Deputy Mayor Holloway and Sanitation Commissioner Doherty Announce Opening of New State-of-the-Art Recycling Facility – Able to Process Metal, Glass and All Plastics in One Location” | Office of the Mayor, City of New York, 12 December 2013

“Sunset Park Material Recovery Facility” | Selldorf Architects

Sims Municipal Recycling

Sims Recyling Solutions

Sims Metal Management

#sunsetparkmaterialrecoveryfacility #Brooklyn #NewYork #NewYorkCity #SimsMetalManagement #SimsMunicipalRecycling #SelldorfArchitects #NYCEconomicDevelopmentCorporstion #recycling #architecture #design #art #museums #galleries #luxury #smartluxury #urbanluxury #resilience #energy #solar #solarenergy #windenergy #engineering #construction #buildingtech #tech #sealevelrise #stormsurge #CO2 #H2O #realestate #commercialrealestate #CRE #finance #ROI

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SFMOMA・optimizing for sustainability was the fun part

After three years of construction under the direction of architectural firm Snøhetta and environmental design firm Atelier Ten, the expanded and high-performing San Francisco Museum of Modern Art (SFMOMA) opened to the public in May of 2016.

Doubling the size of the museum and tripling gallery space, the museum achieved and surpassed LEED gold, working towards maximum sustainability. Optimizing for maximum sustainability was the fun part.

Building on the the science of conservation, born out of the World-War-II-era movement of London artworks to slate caves in Wales, and on the San Francisco mandate that all new construction meet USGBC LEED gold criteria, the SFMOMA initiated a Sustainability Roundtable to research solutions that would work for the museum. Participants in the Sustainability Roundtable included museum staff and representatives from Atelier Ten, Snøhetta, Taylor Engineering, The Getty, Boston’s Museum of Fine Arts (MFA), the Indianapolis Museum of ARt, and Stanford University’s Anderson Collection.

Testing approaches and combinations of approaches iteratively, the group determined to optimize “seasonal set points” and customized every aspect of the structure’s design and systems including mechanical, lighting, water, and HVAC.

See:

“Optimize, Optimize, Optimize: Museum Conservation in the LEED Era” | Lindsey Westbrook, freelance editor and writer specializing in art, architecture, and design; clients include SFMOMA, SFMOMA

“SFMOMA reopens with Snøhetta extension that triples its gallery space” | Dan Howarth, Dezeen, 28 April 2016

#art #museums #artmarket #SFMOMA #SanFrancisco #architecture #design #resilience #builtenvironment #buildingtech #construction #tech #energy #conservation #luxury #smartluxury #urbanluxury #realestate #LEED #Snøhetta #AtelierTen #TaylorEngineering #Getty #MFABoston #IndianapolisMuseumofArt #AndersonCollection #CO2 #H2O #collectionsmanagement #contemporaryart #engineering