This trendy tax play is making its way to financial advisors

Goodboy Picture CompanyA hot tax-advantaged opportunity is making the rounds among financial advisors. Bloomberg | Getty ImagesTo qualify for the tax break, you must roll in a significant amount of capital gains. Tax landminesAccountants warn that the hype around the advantages of these funds may distract advisors from tax-planning risks. There’s also the risk that a client could wind up deferring capital gains well into a time when taxes are higher. Major risksThomas BarwickAside from the surpr


Goodboy Picture CompanyA hot tax-advantaged opportunity is making the rounds among financial advisors.
Bloomberg | Getty ImagesTo qualify for the tax break, you must roll in a significant amount of capital gains.
Tax landminesAccountants warn that the hype around the advantages of these funds may distract advisors from tax-planning risks.
There’s also the risk that a client could wind up deferring capital gains well into a time when taxes are higher.
Major risksThomas BarwickAside from the surpr
This trendy tax play is making its way to financial advisors Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-15  Authors: darla mercado
Keywords: news, cnbc, companies, trendy, investors, financial, taxes, capital, making, tax, funds, advisors, real, play, gains, opportunity, fund, way


This trendy tax play is making its way to financial advisors

Goodboy Picture Company

A hot tax-advantaged opportunity is making the rounds among financial advisors. Just make sure you don’t overlook the risks. The Tax Cuts and Jobs Act, which went into effect in 2018, established so-called qualified opportunity zones — economically disadvantaged areas across the country. Funds specializing in qualified opportunity zones allow people to invest in these communities and receive a raft of tax advantages if they hold the investment for a minimum of five years. Investors have put $6.72 billion into these funds as of Jan. 9, according to data from Novogradac. The accounting firm, which specializes in real estate, surveyed 292 funds.

Word of these investments is also trickling down to financial advisors and their clients. For instance, registered investment advisors who custody assets with TD Ameritrade can access some of these funds on the firm’s platform, said Alyson Nikulicz, a spokeswoman for TD Ameritrade. Advisors, however, should be mindful of the complexities of these investments before they recommend them — particularly the tax consequences that may surprise clients. “The advertising is all the bells and none of the drawbacks,” said Dan Herron, CPA and principal of principal of Elemental Wealth Advisors in San Luis Obispo, California. “Are you telling me that when you sell this to a client, you’re opening their tax return and seeing how it affects them overall? I doubt it,” he said.

How it works

A sign displayed on Bruckner Building reads ‘Commercial Space Available’ in the Port Morris neighborhood of the Bronx borough of New York. For a limited time, investors who develop real estate or fund businesses in opportunity zones are able to defer capital gains on profits earned elsewhere and completely eliminate them on new investments in 8,700 low-income census tracts. Bloomberg | Getty Images

To qualify for the tax break, you must roll in a significant amount of capital gains. This could be by selling a business, for example. Money from other sources would be deemed “non-qualified,” and thus not eligible for the benefit. Once you’ve sold your property, you have 180 days to reinvest the gains into a qualified fund, which invests in opportunity zone properties.

You can defer taxes on the orginal capital gains you invested until you sell your holding or until Dec. 31, 2026, whichever is earlier. Keep your holding for more than five years, and you can exclude 10% of your originally deferred gains. Investors getting into the funds now have missed the boat on a 15% exclusion. That tax break was available to those who rolled their gains into an investment by Dec. 31, 2019. If the fund fares well and you hold it for at least 10 years, you won’t owe taxes on its appreciation once you sell it.

Tax landmines

Accountants warn that the hype around the advantages of these funds may distract advisors from tax-planning risks. “Small investors need to be aware of inclusion events,” said Tim Steffen, CPA and advisor education senior consultant at PIMCO. “This is offering unique complexities you wouldn’t think of when you look at a mutual fund or an exchange traded fund.” For starters, while you may get a permanent exclusion on 10% of your original gains (or 15% if you got in before the end of 2019), you’ll eventually have to pay taxes on the remaining 90% (or 85%) of the deferred gain. You could be paying those taxes on Dec.31, 2026.

Surprise inclusion

An ‘Available’ sign is displayed outside a former Walmart Inc. store in Boulder, Colorado, U.S., on Saturday, Jan. 12, 2019. For a limited time, investors who develop real estate or fund businesses in opportunity zones are able to defer capital gains on profits earned elsewhere and completely eliminate them on new investments in 8,700 low-income census tracts. The goal is to reinvigorate these areas. Bloomberg | Getty Images

In December, the IRS and Treasury published final regulations that detail the tax implications investors face with qualified opportunity zone funds. For instance, an investor who gifts his interest in one of these funds while still deferring capital gains will need to include that gain on his tax return. Further, in a divorce, if the investor transfers the holding to an ex, then he’s recognizing the deferred gain on his tax return. There’s also the risk that a client could wind up deferring capital gains well into a time when taxes are higher. “Depending on what happens with elections this year, it’s conceivable you could end up with much higher capital gains rates in three or four years than you do today,” said Jeffrey Levine, CPA and CEO of BluePrint Wealth Alliance in Garden City, New York.

Major risks

Thomas Barwick

Aside from the surprise tax consequences, advisors should be mindful of the liquidity risk clients may face. “These are meant to be long-term investments; this isn’t money you’ll need to use in a few years,” said Steffen. Further, the expenses can be high. Management fees for opportunity zone funds could range between 1% to 2% per year, plus 20% of gains if the performance exceeds a stated hurdle rate, according to Jon Halpern, founder of Halpern Real Estate Ventures, a New York real estate investment firm. Broker-dealers may offer investors access to a fund as a private placement under Regulation D, meaning the firm may only make it available to accredited investors. Those people must have a net worth of at least $1 million, excluding their residence, and income exceeding $200,000 in each of the last two years. This threshold goes up to $300,000 for a married couple.

Perform due diligence

Luis Alvarez


Company: cnbc, Activity: cnbc, Date: 2020-02-15  Authors: darla mercado
Keywords: news, cnbc, companies, trendy, investors, financial, taxes, capital, making, tax, funds, advisors, real, play, gains, opportunity, fund, way


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UBS reportedly racing to curb outflows at landmark real estate fund

UBS is reportedly racing to stanch outflows at its landmark $20 billion real-estate fund amid worries about its retail holdings and extended underperformance. The Swiss bank’s Trumbull fund owns real estate in Cambridge, including the CambridgeSide mall as well as properties across the country in New York, Chicago, Los Angeles and San Francisco. If real estate fund managers don’t have enough cash on hand to meet a small number of redemption requests, they may be forced to initiate the sale of pr


UBS is reportedly racing to stanch outflows at its landmark $20 billion real-estate fund amid worries about its retail holdings and extended underperformance.
The Swiss bank’s Trumbull fund owns real estate in Cambridge, including the CambridgeSide mall as well as properties across the country in New York, Chicago, Los Angeles and San Francisco.
If real estate fund managers don’t have enough cash on hand to meet a small number of redemption requests, they may be forced to initiate the sale of pr
UBS reportedly racing to curb outflows at landmark real estate fund Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-11  Authors: thomas franck
Keywords: news, cnbc, companies, racing, outflows, reportedly, wall, funds, estate, ubs, cambridge, landmark, investors, curb, sale, street, requests, real, fund, trumbull


UBS reportedly racing to curb outflows at landmark real estate fund

Renovations include new floor tiles and a switch from brass accents to stainless steel at the CambridgeSide mall in Cambridge, MA on Jun. 13, 2017.

UBS is reportedly racing to stanch outflows at its landmark $20 billion real-estate fund amid worries about its retail holdings and extended underperformance.

Investors are standing by to withdraw some $7 billion from the UBS Trumbull Property Fund as a growing number move away from more cautious funds, a person familiar with the matter told the Wall Street Journal.

Hoping to stem the flow, UBS has reportedly offered to cut costs for investors willing to stay in the fund and to forego management fees for new investments, the Journal added citing an analyst presentation to the City of Cambridge, Massachusetts.

The Swiss bank’s Trumbull fund owns real estate in Cambridge, including the CambridgeSide mall as well as properties across the country in New York, Chicago, Los Angeles and San Francisco.

UBS did not immediately respond to CNBC’s request for comment.

An isolated uptick in redemption requests can lead to a host of issues for investment funds like Trumbull if other investors grow nervous the peer withdrawals and, as a result, choose to join the exodus.

If real estate fund managers don’t have enough cash on hand to meet a small number of redemption requests, they may be forced to initiate the sale of properties. The sale of such illiquid assets can take time and add to investor angst in the meanwhile, placing even more pressure on the manager to sell property.

But in contrast to riskier private-equity funds, which dictate when investors are allowed to extract money and include early-exit penalties, the majority of big core funds aren’t as strict about how often or how much its clients are allowed to redeem.

And while Trumbull isn’t the only big-bank property fund seeing outflows, its underperformance versus industry benchmarks has hastened the investor flight. It had performed worse than the NCREIF NFI-ODCE index on a 1-year, 3-year and 5-year basis as of a 2018 presentation to the City of Naples, Florida, Police and Fire Pension Plans.

— Read the original Wall Street Journal report here.


Company: cnbc, Activity: cnbc, Date: 2020-02-11  Authors: thomas franck
Keywords: news, cnbc, companies, racing, outflows, reportedly, wall, funds, estate, ubs, cambridge, landmark, investors, curb, sale, street, requests, real, fund, trumbull


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Trump says he would rather face Bloomberg than Sanders: Bernie ‘has real followers’

Many New Hampshire voters are mulling Tuesday which Democratic presidential hopeful can beat President Donald Trump. Sen. Bernie Sanders, I-Vt., leads polls of Tuesday’s New Hampshire primary as he gains traction nationally. He pointed to Sanders’ devoted supporters, who fueled an insurgent challenge to former secretary of State and senator Hillary Clinton in 2016. “Frankly, I’d rather run against Bloomberg than Bernie Sanders,” the president told reporters at the White House. “Because Sanders h


Many New Hampshire voters are mulling Tuesday which Democratic presidential hopeful can beat President Donald Trump.
Sen. Bernie Sanders, I-Vt., leads polls of Tuesday’s New Hampshire primary as he gains traction nationally.
He pointed to Sanders’ devoted supporters, who fueled an insurgent challenge to former secretary of State and senator Hillary Clinton in 2016.
“Frankly, I’d rather run against Bloomberg than Bernie Sanders,” the president told reporters at the White House.
“Because Sanders h
Trump says he would rather face Bloomberg than Sanders: Bernie ‘has real followers’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-11  Authors: jacob pramuk
Keywords: news, cnbc, companies, bloomberg, supporters, face, senator, real, democratic, comments, followers, president, sanders, hampshire, biden, bernie, trump


Trump says he would rather face Bloomberg than Sanders: Bernie 'has real followers'

People cheer as Democratic presidential candidate Sen. Bernie Sanders (I-VT) arrives onstage during a campaign event at the Whittemore Center Arena on February 10, 2020 in Durham, New Hampshire.

Many New Hampshire voters are mulling Tuesday which Democratic presidential hopeful can beat President Donald Trump.

The question is also on the president’s mind.

Sen. Bernie Sanders, I-Vt., leads polls of Tuesday’s New Hampshire primary as he gains traction nationally. As former Vice President Joe Biden falters, billionaire former New York City Mayor Michael Bloomberg has climbed in national surveys, fueled by spending tens of millions of dollars of his fortune.

Trump, during a rambling criticism of Bloomberg’s 2015 comments that defended his city’s stop-and-frisk policing practice with racist stereotypes, said unprompted that he would rather face the businessman than the Vermont senator. He pointed to Sanders’ devoted supporters, who fueled an insurgent challenge to former secretary of State and senator Hillary Clinton in 2016.

“Frankly, I’d rather run against Bloomberg than Bernie Sanders,” the president told reporters at the White House. “Because Sanders has real followers, whether you like him or not, whether you agree with him or not. I happen to think it’s terrible what he says. But he has followers. Bloomberg’s just buying his way in.”

As Democrats consider who to put up against Trump in November’s general election, many voters say they have thought most about who has the best chance to oust the president. NBC News exit polls of New Hampshire on Tuesday found 62% of Democrats would rather see a nominee who can beat Trump, while 34% would prefer a candidate who agrees with them.

Trump has also kept a close eye on the field. Supporters of Biden, who has run a campaign around his ability to defeat Trump, have repeatedly said Trump asked Ukraine to investigate the former vice president and his son Hunter because he feared facing Biden in November. Trump’s push for a probe sat at the center of the House’s decision to impeach him, and the Senate acquitted the president last week.

At the same time, Sanders’ rivals including Biden have contended the senator, a self-proclaimed democratic socialist who has pushed for a vast expansion of the social safety net, would struggle to beat Trump. Sanders has fought that characterization, telling supporters in New Hampshire on Monday night that he can win because “our agenda speaks to the pain of the working families of this country.”

It’s not just Trump who has focused more on Bloomberg recently. Sanders and Sen. Elizabeth Warren, D-Mass., both criticized their opponent in the final days of the New Hampshire primary as an example of the corrosive influence of money in politics.

Trump sent, then deleted, a tweet Tuesday calling Bloomberg a “TOTAL RACIST” after his 2015 comments surfaced. In the remarks, the former New York mayor said most murderers and murder victims “fit one M.O. — you could just take the description, Xerox it and pass it out to all the cops. They are male, minorities 15 to 25 [years old].”

Bloomberg released a statement Tuesday saying “this issue and my comments about it do not reflect my commitment to criminal justice reform and racial equality.” It later issued another statement from African-American faith leaders with whom he met Tuesday, who said, “None of us believe that Mike Bloomberg is a racist.”

Subscribe to CNBC on YouTube.


Company: cnbc, Activity: cnbc, Date: 2020-02-11  Authors: jacob pramuk
Keywords: news, cnbc, companies, bloomberg, supporters, face, senator, real, democratic, comments, followers, president, sanders, hampshire, biden, bernie, trump


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Sephora to open 100 stores in 2020, in bid to grow outside of the mall

Beauty retailer Sephora has big growth plans, at a time when many businesses are shutting their doors for good. The company, owned by Louis Vuitton parent company LVMH, will open 100 stores in 2020. This marks its largest real estate expansion to date, more than doubling its store growth in 2019. “We love our stores in malls … but the focus on this next 100 is more off-mall locations,” Jeff Gaul, senior vice president of Real Estate and Store Development at Sephora Americas, said in an intervi


Beauty retailer Sephora has big growth plans, at a time when many businesses are shutting their doors for good.
The company, owned by Louis Vuitton parent company LVMH, will open 100 stores in 2020.
This marks its largest real estate expansion to date, more than doubling its store growth in 2019.
“We love our stores in malls … but the focus on this next 100 is more off-mall locations,” Jeff Gaul, senior vice president of Real Estate and Store Development at Sephora Americas, said in an intervi
Sephora to open 100 stores in 2020, in bid to grow outside of the mall Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-04  Authors: lauren thomas
Keywords: news, cnbc, companies, grow, open, sephora, growth, bid, mall, think, store, real, stores, gaul, 2020, outside, company, 100, estate, focus


Sephora to open 100 stores in 2020, in bid to grow outside of the mall

Beauty retailer Sephora has big growth plans, at a time when many businesses are shutting their doors for good.

The company, owned by Louis Vuitton parent company LVMH, will open 100 stores in 2020. This marks its largest real estate expansion to date, more than doubling its store growth in 2019. And the focus, with this growth, will be on expanding outside of shopping malls.

“We love our stores in malls … but the focus on this next 100 is more off-mall locations,” Jeff Gaul, senior vice president of Real Estate and Store Development at Sephora Americas, said in an interview. “We are getting closer to where she lives and works, where she does most of her errands … where she can pull right up and grab something.”

Sephora will also be looking to grow in cities like Charlotte, North Carolina, and Nashville, Tennessee — not necessarily urban markets like New York and Los Angeles, Gaul said, calling it a “hub and spoke strategy,” where the so-called Sephora hubs have already been planted in major metros.

“We hope to create a network of stores to serve clients in all the needs that she has,” he said. “We do not believe retail is dead. We think quite the opposite. We think it is alive and kicking.”


Company: cnbc, Activity: cnbc, Date: 2020-02-04  Authors: lauren thomas
Keywords: news, cnbc, companies, grow, open, sephora, growth, bid, mall, think, store, real, stores, gaul, 2020, outside, company, 100, estate, focus


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Brexit battle starts for real as UK and EU lay out their wishes on trade

Sterling fell more than 1% Monday after the U.K. Prime Minister Boris Johnson said he wouldn’t accept EU standards as a price to pay in order to secure a free trade deal. The United Kingdom left the EU officially on Friday, but it has yet to agree a new relationship with the EU. During this period, London also aims to develop new trade arrangements with Brussels. Failure to reach a new trade deal would bring higher costs for U.K. and European exporters. “There’s no doubt there is also considerab


Sterling fell more than 1% Monday after the U.K. Prime Minister Boris Johnson said he wouldn’t accept EU standards as a price to pay in order to secure a free trade deal.
The United Kingdom left the EU officially on Friday, but it has yet to agree a new relationship with the EU.
During this period, London also aims to develop new trade arrangements with Brussels.
Failure to reach a new trade deal would bring higher costs for U.K. and European exporters.
“There’s no doubt there is also considerab
Brexit battle starts for real as UK and EU lay out their wishes on trade Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-03  Authors: silvia amaro
Keywords: news, cnbc, companies, trade, minister, deal, starts, prime, battle, period, possibility, brexit, wishes, real, lay, told, london


Brexit battle starts for real as UK and EU lay out their wishes on trade

LONDON, ENGLAND – FEBRUARY 03: British Prime Minister Boris Johnson outlines his government’s negotiating stance with the European Union after Brexit, during a key speech at the Old Naval College in Greenwich on February 3, 2020 in London, England.

Sterling fell more than 1% Monday after the U.K. Prime Minister Boris Johnson said he wouldn’t accept EU standards as a price to pay in order to secure a free trade deal.

The United Kingdom left the EU officially on Friday, but it has yet to agree a new relationship with the EU. Both sides laid out separately on Monday what they want from a future trade deal but positions appear so far apart that economists have not excluded the possibility of an abrupt breakup at the end of the year.

“I would put it at 20% at the moment,” Anna Rosenberg, head of Europe and the U.K. at the advisory firm Signum Global, told CNBC Monday. “We have to track how talks pan out. If tensions rise and they seem to break down, I will revise it up,” she added.

The U.K. is currently in a transition period, during which EU law and rules are still applicable across the country, and the U.K. government can prepare trade deals with other nations. During this period, London also aims to develop new trade arrangements with Brussels. Failure to reach a new trade deal would bring higher costs for U.K. and European exporters.

“There’s no doubt there is also considerable difference between the parties,” David Henig, a U.K. trade policy expert at the think tank ECIPE, told CNBC. “There is a possible deal that removes tariffs in return for some level playing field provisions, but equally no deal remains a distinct possibility,” he said.


Company: cnbc, Activity: cnbc, Date: 2020-02-03  Authors: silvia amaro
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Jim Cramer expects more bad coronavirus news, calls buying Friday’s sell-off a ‘mistake’

Jim Cramer expects more bad coronavirus news, calls buying Friday’s sell-off a ‘mistake'”I don’t want you to jump the gun, people. Let’s wait for a real dip, the kind we haven’t yet, before we get more bullish on this market,” CNBC’s Jim Cramer says.


Jim Cramer expects more bad coronavirus news, calls buying Friday’s sell-off a ‘mistake'”I don’t want you to jump the gun, people.
Let’s wait for a real dip, the kind we haven’t yet, before we get more bullish on this market,” CNBC’s Jim Cramer says.
Jim Cramer expects more bad coronavirus news, calls buying Friday’s sell-off a ‘mistake’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-03
Keywords: news, cnbc, companies, coronavirus, buying, market, fridays, selloff, bad, kind, wait, lets, calls, real, mistake, jump, cramer, jim, expects, mistakei


Jim Cramer expects more bad coronavirus news, calls buying Friday's sell-off a 'mistake'

Jim Cramer expects more bad coronavirus news, calls buying Friday’s sell-off a ‘mistake’

“I don’t want you to jump the gun, people. Let’s wait for a real dip, the kind we haven’t yet, before we get more bullish on this market,” CNBC’s Jim Cramer says.


Company: cnbc, Activity: cnbc, Date: 2020-02-03
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Sports Money: Emmitt Smith partners with Marriott; Learfield IMG, ShotTracker agree to deal

The former Cowboy is contractually obligated to participate in the events after agreeing to a partnership with Marriott. “What I like about the program is it involves creating these experiences,” Smith told CNBC. “It’s all about experiences, and Marriott has done a great job with creating these experiences for their memberships.” Smith hosted two of the experiences via a masterclass, which allowed Marriott members to collectively redeem three million points to participate in NFL Combine-like dri


The former Cowboy is contractually obligated to participate in the events after agreeing to a partnership with Marriott.
“What I like about the program is it involves creating these experiences,” Smith told CNBC.
“It’s all about experiences, and Marriott has done a great job with creating these experiences for their memberships.”
Smith hosted two of the experiences via a masterclass, which allowed Marriott members to collectively redeem three million points to participate in NFL Combine-like dri
Sports Money: Emmitt Smith partners with Marriott; Learfield IMG, ShotTracker agree to deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-01  Authors: jabari young
Keywords: news, cnbc, companies, learfield, participate, emmitt, shottracker, deal, super, points, img, partnership, real, marriott, smith, nfl, members, agree, experiences, partners, money


Sports Money: Emmitt Smith partners with Marriott; Learfield IMG, ShotTracker agree to deal

Members of Marriott Bonvoy bid their points to participate in the exclusive moments masterclass led by NFL Hall of Fame running back Emmitt Smith

Former Dallas Cowboys running back Emmitt Smith, the National Football League’s all-time leading rusher, is teaming up with hospitality giant Marriott Hotels to deliver fans a unique experience during Super Bowl LIV in Miami.

Smith, 50, is assisting Marriott Bonvoy, the travel program from the company, to offer fans an opportunity to watch the game between the San Francisco 49ers and Kansas City Chiefs from a luxury suite at Hard Rock Stadium. Attendees will have have access to a “Courtyard Party” with pop band The Chainsmokers performing as part of its “Moments” experience.

The former Cowboy is contractually obligated to participate in the events after agreeing to a partnership with Marriott. Financial terms of the agreement were not made available.

“What I like about the program is it involves creating these experiences,” Smith told CNBC. “It’s all about experiences, and Marriott has done a great job with creating these experiences for their memberships.”

Smith hosted two of the experiences via a masterclass, which allowed Marriott members to collectively redeem three million points to participate in NFL Combine-like drills. Select members exchanged the points for a five-night stay at Marriott-owned EDITION hotel on Miami Beach leading up to Sunday’s game.

The three-time Super Bowl Champion and Pro Football Hall of Famer called the partnership with Marriott a “natural fit” as Smith is an active real estate investor.

Smith, who rushed for 18,355 yards in his 15-year NFL career, created real estate companies E Smith Advisors, a brokerage service in partnership with New York and London-based firms Newmark Knight Frank. He is also chairman at E Smith Construction, a commercial construction company, and E Smith Legacy, a commercial real estate holding firm.

Asked to predict a winner for Sunday’s contest, Smith, who was named Super Bowl XXVIII MVP, selected the 49ers, believing that the better defensive unit will be the determining factor.

“I know Patrick Mahomes and Tyreek [Hill] and all those players are pretty fast,” said Smith, “and I do love [Chiefs owners] the Hunt Family because they are out of Dallas themselves. But I’m just going with defenses win championships.”


Company: cnbc, Activity: cnbc, Date: 2020-02-01  Authors: jabari young
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For the cost of a 30-second Super Bowl ad, you can buy a castle in Kansas City or a Miami condo—take a look

ReeceNichols Real Estate”The owner was infatuated with King Arthur and the Knights of the Round Table,” says Welch. ReeceNichols Real EstateThe room also has stained glass windows and a 200-year-old, hand-carved fireplace mantle imported from England. ReeceNichols Real EstateThe homeowner was also an extensive wine collector and the cellar can hold up to 4,000 bottles. ReeceNichols Real EstateThe master bedroom has a secret passageway that leads to the home’s greenhouse on a lower level, says We


ReeceNichols Real Estate”The owner was infatuated with King Arthur and the Knights of the Round Table,” says Welch.
ReeceNichols Real EstateThe room also has stained glass windows and a 200-year-old, hand-carved fireplace mantle imported from England.
ReeceNichols Real EstateThe homeowner was also an extensive wine collector and the cellar can hold up to 4,000 bottles.
ReeceNichols Real EstateThe master bedroom has a secret passageway that leads to the home’s greenhouse on a lower level, says We
For the cost of a 30-second Super Bowl ad, you can buy a castle in Kansas City or a Miami condo—take a look Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-31  Authors: chris dilella
Keywords: news, cnbc, companies, estatethe, francisco, castle, real, beach, located, room, super, media, douglas, kansas, miami, buy, price, city, bowl, condotake, cost, look


For the cost of a 30-second Super Bowl ad, you can buy a castle in Kansas City or a Miami condo—take a look

As the Kansas City Chiefs play the San Francisco 49ers in Miami’s Hard Rock Stadium on Sunday, the price tag for a 30-second TV commercial during Super Bowl LIV on Fox is a reported $5.6 million. That’s up from $5.2 million last year. For just under that amount, you can own a castle located in Chiefs’ territory, a four-level townhouse in the 49ers’ hometown or a Miami Beach condo in the sky. Take a look:

Kansas City, Missouri

ReeceNichols Real Estate

Listing price: $5.5 million

Square footage: 15,060

Price per square foot: $365

Details: five bedrooms, seven full baths and three half baths This lakefront estate in Kansas City, Missouri, is just a 30-minute drive to the Chief’s Arrowhead Stadium. It was inspired by a trip the late homeowner and his wife took to Ashford Castle in Ireland, says ReeceNichols listing agent Tina Welch.

ReeceNichols Real Estate

“It took approximately three years to build” and was finished in 1993, Welch tells CNBC Make It. “Everything in the home was custom… It took 14 months of non-stop stone laying to get the job done.”

ReeceNichols Real Estate

The great room has 18-foot ceilings, a wood-burning fireplace and views of nearby Lake Weatherby.

ReeceNichols Real Estate

“The owner was infatuated with King Arthur and the Knights of the Round Table,” says Welch. “So he had an ongoing theme of Camelot,” which is what the Castle is called. A hand-painted mural of Lancelot and his queen adorns the walls of the dining room.

ReeceNichols Real Estate

The room also has stained glass windows and a 200-year-old, hand-carved fireplace mantle imported from England.

ReeceNichols Real Estate

The homeowner was also an extensive wine collector and the cellar can hold up to 4,000 bottles.

ReeceNichols Real Estate

The master bedroom has a secret passageway that leads to the home’s greenhouse on a lower level, says Welch.

ReeceNichols Real Estate

San Francisco, California

Lunghi Media Group

List price: $5.495 million

Square footage: 4,395

Price per square foot: $1,250

Details: four bedrooms and 4.5 bathrooms This four-level contemporary home, which recently got a $500,000 price cut, is located in the heart of San Francisco, in Noe Valley. It’s about an hour drive to the 49ers’ Levi’s Stadium.

Lunghi Media Group

“Originally a cottage, this home was built on the top of the hill in 1910 and was extensively expanded and renovated in 2019,” says Compass listing agent Dennis Otto. “The original facade was preserved.” The home’s great room has cathedral ceilings, a floor-to-ceiling soapstone fireplace and views of downtown.

Lunghi Media Group

Lunghi Media Group

Just off the kitchen is a modern steel-rod staircase.

Lunghi Media Group

Lunghi Media Group

The home also has an elevator.

Lunghi Media Group

Accordion glass doors off the kitchen open into the patio and garden.

Lunghi Media Group

The home also has a four-car garage, which is “unusual” in San Francisco, says Otto.

Miami, Florida

Living room Douglas Elliman

Listing price: $5.6 million

Square footage: 2,618

Price per square foot: $2,139

Details: three bedrooms and 3.5 bathrooms The condo is just 18 miles away from Hard Rock Stadium.

Dining room Douglas Elliman

The unit, which was renovated in 2017, is located inside Murano at Portofino, a luxury residential skyscraper on Miami Beach. It has floor-to-ceiling glass windows throughout, including in the modern chef’s kitchen.

Kitchen Douglas Elliman

Master bed Douglas Elliman

Located in located in Miami Beach’s “sought-after” South of Fifth neighborhood, “it has incredible views of downtown Miami, the Atlantic Ocean, South Beach, Fisher Island and Key Biscayne,” says Douglas Elliman listing agent Mick Duchon. The skyscraper also overlooks the Miami Beach Marina.


Company: cnbc, Activity: cnbc, Date: 2020-01-31  Authors: chris dilella
Keywords: news, cnbc, companies, estatethe, francisco, castle, real, beach, located, room, super, media, douglas, kansas, miami, buy, price, city, bowl, condotake, cost, look


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Airbnb hires Disney veteran to lead Experiences division ahead of expected public listing this year

The home-sharing company announced Wednesday that it has hired 15-year Disney veteran Catherine Powell to lead its Experiences division, which offers tours and other activities for guests such as cooking classes. The Experiences division could play an important role as Airbnb eyes an expected public listing later this year. Airbnb said Wednesday it has expanded the Experiences division to offer more than 40,000 experiences in more than 1,000 cities. The news comes after Airbnb announced earlier


The home-sharing company announced Wednesday that it has hired 15-year Disney veteran Catherine Powell to lead its Experiences division, which offers tours and other activities for guests such as cooking classes.
The Experiences division could play an important role as Airbnb eyes an expected public listing later this year.
Airbnb said Wednesday it has expanded the Experiences division to offer more than 40,000 experiences in more than 1,000 cities.
The news comes after Airbnb announced earlier
Airbnb hires Disney veteran to lead Experiences division ahead of expected public listing this year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-29  Authors: deirdre bosa william feuer, deirdre bosa, william feuer
Keywords: news, cnbc, companies, veteran, lead, hires, experiences, public, division, airbnb, powell, real, disney, paris, listing, catherine, expected, estate, company


Airbnb hires Disney veteran to lead Experiences division ahead of expected public listing this year

Euro Disney S.A.S President Catherine Powell attends the presentation of a study on the economic and social contribution of Disneyland Paris in Paris on February 24, 2017, as a part of the 25th anniversary of Disneyland Paris’ events.

Airbnb is making some big hires ahead of its expected public debut later this year.

The home-sharing company announced Wednesday that it has hired 15-year Disney veteran Catherine Powell to lead its Experiences division, which offers tours and other activities for guests such as cooking classes. Powell most recently ran the U.S. and Paris theme parks for Disney.

The Experiences division could play an important role as Airbnb eyes an expected public listing later this year. Investors will look to see if Airbnb has successfully expanded into new services and offerings.

Airbnb launched Experiences in 2016 to diversify beyond its core offering of accommodations and capture more of the travel economy.

It remains unclear if Experiences is a meaningful source of revenue for the company, which is privately valued at more than $30 billion. Experiences brought in $15 million through the first three quarters of 2018, The Information reported, the most recent figures available. Airbnb said it brought in more than $1 billion in total revenue for the second quarter of 2019.

Airbnb said Wednesday it has expanded the Experiences division to offer more than 40,000 experiences in more than 1,000 cities. The company pushed into new categories of Experiences last year, such as cooking and animal experiences.

“Catherine is the perfect person to lead this business,” Airbnb co-founder and CEO Brian Chesky said in a statement. “Some people can come up with creative ideas. Others know how to run big teams and scale big businesses. Catherine can do both.”

Joe Zadeh, who was among the first 10 Airbnb employees, spearheaded the launch of the Experiences initiative in 2016 and is still listed on the company’s site as vice president of Experiences. The company announced earlier this month that Zadeh will transition out of the Experiences division to lead a team meant to serve stakeholder interests.

“Airbnb is a truly inspiring company with a mission that sits at the heart of the Experiences Economy,” Powell said. “I’ve seen firsthand how Experience Hosts take Guests on amazing adventures and I know Airbnb has a unique opportunity to deliver experiences that are distinct, authentic, immersive, and memorable. The potential for this business is virtually unlimited.”

The news comes after Airbnb announced earlier this month the hiring of Jesse Stein, a former executive of the real estate private equity firm KHP Capital, as global head of real estate. Stein will be tasked with establishing new real estate development projects as Airbnb looks to break into traditional real estate investing to supplement the supply of listings on its site.


Company: cnbc, Activity: cnbc, Date: 2020-01-29  Authors: deirdre bosa william feuer, deirdre bosa, william feuer
Keywords: news, cnbc, companies, veteran, lead, hires, experiences, public, division, airbnb, powell, real, disney, paris, listing, catherine, expected, estate, company


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In Kobe Bryant’s passing, the WNBA also lost a real ‘advocate,’ Becky Hammon says

It’s not only the National Basketball Association that suffered a huge blow with Kobe Bryant’s passing, but the women’s game was also impacted by losing one of the sport’s biggest ambassadors. In an interview with CNBC, San Antonio Spurs assistant coach Becky Hammon, who played eight seasons in the WNBA, described Bryant as a “basketball fan” who “appreciated” the women’s league. “The women’s game lost a real advocate and someone who truly believed that women can do anything.” “The belief that h


It’s not only the National Basketball Association that suffered a huge blow with Kobe Bryant’s passing, but the women’s game was also impacted by losing one of the sport’s biggest ambassadors.
In an interview with CNBC, San Antonio Spurs assistant coach Becky Hammon, who played eight seasons in the WNBA, described Bryant as a “basketball fan” who “appreciated” the women’s league.
“The women’s game lost a real advocate and someone who truly believed that women can do anything.”
“The belief that h
In Kobe Bryant’s passing, the WNBA also lost a real ‘advocate,’ Becky Hammon says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-27  Authors: jabari young
Keywords: news, cnbc, companies, passing, bryants, real, hammon, coach, player, advocate, gianna, becky, lost, womens, nba, wnba, bryant, basketball, kobe, game


In Kobe Bryant's passing, the WNBA also lost a real 'advocate,' Becky Hammon says

It’s not only the National Basketball Association that suffered a huge blow with Kobe Bryant’s passing, but the women’s game was also impacted by losing one of the sport’s biggest ambassadors.

In an interview with CNBC, San Antonio Spurs assistant coach Becky Hammon, who played eight seasons in the WNBA, described Bryant as a “basketball fan” who “appreciated” the women’s league.

“He watched the WNBA, and I think as he had more time on his hands in retirement, he got more involved and was just beginning to be that voice for so many women that maybe didn’t have a strong voice or as big or as loud or carried as much weight as his did, and still does,” Hammon said before the Spurs hosted the Chicago Bulls Monday night. “The women’s game lost a real advocate and someone who truly believed that women can do anything.”

Bryant, and his 13-year-old daughter Gianna, were among nine people killed in a helicopter crash Sunday morning in Calabasas, Los Angeles. Bryant was 41 and survived by his wife Vanessa, their daughters Natalia, Bianka, and Capri.

The son of former NBA player Joe “Jellybean” Bryant, Kobe support of women’s sports was well documented, and it was Gianna developing a passion for basketball that returned Bryant to the sport he spent most of his life mastering.

In a recent basketball podcast conversation with former NBA players Stephen Jackson and Matt Barnes, Bryant told the pair he started watching the game once again when he noticed his daughter getting more involved in the sport.

“I hardly watched it,” he told the pair earlier this month. “But now that she’s into basketball, it’s on every night.”

After retiring from the NBA in 2016, Bryant became an ambassador to women’s hoops on all levels, and often attended WNBA games with his daughters. Bryant also was a spectator at collegiate games, making visits to University of Connecticut, where Gianna had dreams of playing under legendary women’s basketball coach Geno Auriemma.

According to reports, the Sikorsky S-76B helicopter carrying Bryant, Gianna, and seven others passengers was headed to Thousand Oaks for a basketball tournament at Bryant’s Mamba Sports Academy before the helicopter crashed. Bryant launched the academy in 2018 to assist athletes with performance training and also used the space to coach the AAU team Gianna played on.

“She loved it,” Hammon said of Gianna’s love for basketball. “You could tell. That’s what so great about sports; the quality time that she got with her dad, the quality time that he invested in her, they found a common bond.

“It’s a special bond; it’s the father-daughter bond, and then it’s this thing beyond that, which is sports, that they could connect on,” she said. “The belief that he had in his daughter, the belief that he had in women’s basketball – the appreciation he had for women’s basketball, touched me, motivated me, inspired me.”

Before departing from the NBA in 2016, Bryant finished his career with 33,643 career points (fourth), 48,637 minutes (eighth) and appeared in 1,346 games (15th). At 34 years old, Bryant became the youngest player in NBA history to surpass the 30,000-point mark in a career that will receive that highest level of approval this year, in Springfield, Massachusetts, according to Naismith Basketball Hall of Fame chairman Jerry Colangelo.

WNBA commissioner Cathy Engelbert called Bryant a “true legend” for his support for the league and “helping young girls and boys follow their dreams.”

“We admired him not just as a legendary basketball player, but as a father, a youth coach, and a role model for future generations of athletes,” Engelbert said in a statement.

“He understood what it took to fight and to win and to maintain a certain level of living whether it was on the court or off the court,” NBA agent Aaron Goodwin of Goodwin Sports Management told CNBC. “He put his time into being the best that he could be, and he took no prisoners.”

Hammon, who sits 12th on the WNBA all-time scoring list (5,841 points), recalled when she initially discovered Bryant was a fan of her basketball skills. While on a road trip with the New York Liberty. She couldn’t remember the exact year, but Hammon said a Los Angeles Sparks team employee approached her, saying: “Kobe loves the way you play.”

And Bryant displayed his admiration of Hammon’s game by identifying “a girl that was maybe smaller than everybody else and she was hopping, he’d start calling them a ‘Little Becky Hammon,'” she said. “And because everybody knew he was about such excellence, for me as a player back then, it was huge.”

Reflecting on his life further, Hammon recalled Bryant’s last All-Star Game in 2016 when she became aware of how “at peace he was with walking away.” Hammon was an assistant for the game in Toronto under Spurs head coach Gregg Popovich, who was named the Western Conference All-Star coach.

“He was so secure in his identity as a man, that he was like, ‘I’m not going to miss it,'” Hammon said. “He had given all he could give to the game and was ready to tackle the next journey. But the peace he had walking away from the game, it floored me; it stuck with me.

“Kobe, the man, trumps Kobe, the basketball player,” Hammon said. “He’s going to be missed.”


Company: cnbc, Activity: cnbc, Date: 2020-01-27  Authors: jabari young
Keywords: news, cnbc, companies, passing, bryants, real, hammon, coach, player, advocate, gianna, becky, lost, womens, nba, wnba, bryant, basketball, kobe, game


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