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Max Beckmann’s “Hölle der Vögel” (Birds’ Hell) (1937-1938) Sells for US$45,834,365

Max Beckmann’s “Hölle der Vögel” (Birds’ Hell) sold for US$45,834,365 at Christie’s London Tuesday evening (June 27).

The painting, executed in oil on canvas in 1937 – 1938, drew three bidders and sold to Larry Gagosian. It is understood that Mr. Gagosian was bidding on behalf of the New York collector Leon Black.

Art dealer Richard Feigen acquired the painting in 1983. Hölle der Vögel” (Bird’s Hell) has remained in his collection until now.

See:

“Boosted by Gagosian’s Record Bid on Beckmann, Christie’s Notches a $190 Million Impressionist and Modern Sale” | Colin Gleadell, Artnet.com, 27 June 2017

Christie’s Impressionist and Modern Art Evening Sale, London, 27 June 2017, Results | Christie’s

Max Beckmann Hölle der Vögel, 1937-38 (special catalogue) | Christie’s

 

#art #artcollections #artmarket #MaxBeckmann #BirdsHell #HöllederVögel #Christie’s #LarryGagosian #LeonBlack #realestate #resilience #luxury #urbanluxury #NewYork #London

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the luxury market is driving LEED & green building tech

The use of  advances in green building technology and LEED (USGBC’s Leadership in Energy and Environmental Design) by U.S. developers and architects is increasingly market driven.

Such initiatives have oftentimes been borne out of environmental regulations and tax subsidies initiated at local, state and federal levels.

It appears, however, that such environmental regulations and tax subsidies are no longer sole primary drivers.

Rather, market demand is also driving the adoption of green building technology and LEED in the design and development of luxury buildings.

People understand the need for and benefits of green building technologies and carbon neutral energy programs. Developers, architects, and designers are beginning to follow suit.

Here are some examples:

  • Marcos Corti, CEO, Consultatio, the developer of Oceana, the first building on Bal Harbour, Florida to be LEED certified:

“The trend is to go LEED and to continue that path. It is on everybody. If the government or the leader is not going that way, I think the entire population is going that way, so it isn’t going to change.”

  • Stephen Glascock, President and Managing Partner, founded New York-based Anbau in 1998 based on the vision that “good design makes good business.” The Anbau focus is on residential condominium development in New York City, seeking value and appropriate risk-adjusted returns.

“We don’t get any subsidies for LEED stuff. All the sustainable stuff comes from what we feel is the right thing to do.”

  • Christopher Gandolfo, vice president of development, Swire Properties. Swire Properties is active globally. Brickell City Centre is 9.1-acre city-within-a-city, a retail-led mixed complex of luxury condo towers, class-A office buildings, a five-star hotel, and an open-air shopping center, engineered and built on platforms over the street level that link shops, restaurants, hotel and the other buildings.

“We are pioneer for the time. I’d like to believe other good developers will follow suit. It is up to the public to demand it to some degree as well.”

LEED “helps keep the very large team of designers, specialist consultants, and contractors who work on a project like 520 W 28th Street focused on the project’s performance and indoor air quality goals, and it gives our buyers an extra level of comfort that we achieved these goals.”

  • Brandon Specketer, partner at COOKFOX Architects, “architectural studio dedicated to a vision of integrated, environmentally responsive design. We believe good design is sustainable and we are committed to being wise stewards of our shared natural and cultural resources.”

COOKFOX project 550 Vanderbilt in Prospect Heights, Brooklyn utilizes Biophilic Design principles throughout the building to connect residents to the natural world for enhanced creativity, clarity of thought, and improved well being.

“LEED isn’t a checklist. It is a standard of quality that helps everyone meet a certain standard.”

See:

“Green Building in U.S. Luxury Developments Continues to Flourish” | Ariel Ramchandani, Mansion Global, 29 May 2017

“City in a city: Brickell City Centre set to transform downtown Miami” | Debora Lima, Miami Herald, 15 May 2016

550 Vanderbilt | COOKFOX

#realestate #luxury #smartluxury #LEED #greentech #Consultatio #Anbau #SwireProperties #RelatedCompanies #COOKFOX #realestatedevelopment #architecture #design #NewYork #Miami #climaterisk #urbanliving

 

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Blackstone Real Estate is optimizing art as a targeted value-add initiative for its NY real estate portfolio

Blackstone Real Estate is optimizing art as a targeted value-add initiative for its real estate portfolio throughout New York City.

Blackstone is initiating a partnership Hunter College to recognize talented emerging artists while concomitantly giving visitors to its building portfolio throughout the city access to unique works of art.

Last week Jon Gray, Global Head of Real Estate at Blackstone, introduced a new exhibition featuring artwork by students currently enrolled in the Hunter College Master of Fine Arts program: Talia Levitt, Madhini Nirmal, Leonard Reibstein, and Andy Van Dinh.

These works of art, both paintings and large-scale works on paper, will be displayed for a year in the lobby of 5 Bryant Park.

Blackstone is the world’s largest real estate private equity firm with $102 billion of investor capital and $200 billion of gross assets under management.

Blackstone seeks to acquire high quality investments at discounts to replacement cost. The company improves the properties through hands-on management and targeted value-add initiatives.

The breadth of Blackstone’s real estate portfolio provides valuable real-time proprietary market data. Blackstone believes this information enables the company to identify mispriced and/or out-of-favor asset classes more rapidly than its competitors.

Blackstone real estate also operates one of the leading real estate finance platforms, including management of the publicly traded Blackstone Mortgage Trust (NYSE:BXMT).

See:

“Blackstone Partners with Hunter College for Student Art Exhibition at 5 Bryant Park” | Blackstone Blog, 12 June 2017

Blackstone Real Estate

#art #realestate #finance #risk #collectionsmanagement #portfoliomanagement #HunterCollege #HunterCollegeMFA #NewYork #Manhattan #Blackstone #privateequity #riskanalysis #risk management #collections

 

 

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New York’s Metropolitan Museum of Art changes leadership structure

New York’s Metropolitan Museum of Art announced yesterday that Daniel H. Weiss, who has served as president and chief operating officer of the Met since 2015,  will now serve as president and chief executive.

This appointment, decided by the Board of Trustees, represents an organizational shift for the museum.  In prior years the director has served as chief executive.

As both president and chief executive, Dr. Weiss will lead the administrative operation of the museum and will have the “worry about day-to-day matters like security, restaurants and maintenance.”

The next director will oversee the museum’s “core mission functions” –  curatorial focus, acquisitions, exhibitions, publishing program, conservation efforts, and library – and will report to Dr. Weiss, the chief executive.

Both chief executive and director will serve on the Board of Trustees. They will establish the museum’s priorities together.

See:

“In an organizational shift, Met president Daniel Weiss takes over as chief executive” | Pac Pobric, The Art Newspaper, 13 June 2017

“Met Museum Changes Leadership Structure” | Robin Pogrebin, The New York Times, 13 June 2017

#MetropolitanMuseumofArt #theMet #art #museums #DanielHWeiss #collections #NewYork #realestate