Astoria, NY

Motion pictures and television share a rich technological and artistic history in which scientists, inventors, artists and entrepreneurs have all played significant roles. The American Museum of the Moving Image is dedicated to educating the public about the art, history, technique and technology of film, television, video and digital media, offering visitors of all ages an opportunity to understand this history and its impact on our lives. Featuring almost 1,000 historical artifacts, thirteen computer-based interactive experiences, film and video presentations, and demonstrations of professional equipment, the Museum's exhibition Behind the Screen takes visitors through the process of producing, marketing, and exhibiting movie images.

Focusing on the jobs of many individuals whose collaborative effort results in a complete moving image product, Behind the Screen is a sophisticated look at the history and contemporary practice of film and television. The 14,000 square-foot exhibition was designed by Ali Hocek of AC Hocek Architects.

The Museum presents more than 300 programs annually, from silent films and Hollywood classics to digital art, television documentaries, and animation. All works are screened in their original formats. The 200-seat Riklis Theater is one of the most sophisticated and versatile screening facilities in the country. In conjunction with screening series, the Pinewood Dialogues offer an ongoing series of personal appearances by moving industry professionals. Approximately fifty guests participate each year in discussions and lectures.

American Museum of the Moving Image
35th Avenue at 36th Street
Astoria, NY
(718) 784-4520
http://www.movingimage.us/

I though I'd start off this new series in my blog by highlighting one of the great historical landmarks in Astoria - one that is still hopping every night. Bohemian Hall used to be the site of the Czech and Slovak social club - and still is the main watering hole of the Czech/Slovak community in Astoria. It also hosts the last remaining original Beer Garden in all of New York City. In addition to the outdoor bar, you can enjoy a fine indoor bar and restraunt featuring a large variety of tasty Czech cuisine (I recomend the goulash - its delish!). The restraunt area also accepts credit cards (the rest of the establishment is cash only - but there is an ATM for your convience).

An Astoria favorite for many years, the Gardens are a great place to spend a hot summer night - they usually have some sort of entertainment or summer festival going on to liven up the mood!

Bohemian Hall and Beer Garden
29-19 24th Avenue
Astoria, NY 11102
(718) 274-4925
http://www.bohemianhall.com

I love jogging under the Triborough Bridge. You get a great water view of the residential cityscape of upper Manhattan and Harlem. They have a very well maintained track, not to mention a spanking set of tennis courts. I am plotting a new project with my girlfriends and the hubby. I decided to give you a sneak preview of the photographs to come. I'm doing some research on the area in the hopes of making the presentation useful as a hyper-local post. I may even squeeze in a market report (LOL). Stay tuned for a very interesting turtle run post later on tonight.

Here is a little eye candy from my run. BTW, I've also selected some very interesting blog posts to refer you to later on. Gotta show my peeps some link love. (LOL) Enjoy!

Astoria Park, Queens County, New York

And they are also declining them! So what's the point? Getting a loan approval depends on meeting the lenders revised guidelines. Private Money Lenders ARE Hard Money Lenders. Today they even try to call themselves "situational" lenders. It seems back in the day, the high interest rates normally associated with "private" money lenders led to the private money community being defined as hard..so why didn't we call good credit lower interest rate lenders "soft money lenders? Perhaps this is a classic example of a business sector's failure to define itself before others did. Hard money can actually do what other banks REFUSE to do..to issue loan approvals that help a building owner out of a problem.

One example I recent ly encountered is a building owner who has a five year balloon with a national lender that comes due in one year. We all know one year is like a week in terms of dealing with a looming and potentially dangerous balloon commercial mortgage. But what's a building owner to do when the debt to income analysis shows that while the bills are being paid there are too many bills relative to revenue in the eyes of a conventional lender? The building owner is declined by bank after bank and then only upon speaking to a broker, learns from the broker that those conventional lenders won't lend to people with high debt even if the credit scores are between 620 and 650! So now the building owner is getting nervous because the banking crisis is all over the newspaper, internet and people's retirement savings! building owner is worried that banks are tightening up and making credit more difficult to get...and they are! Building owner realizes that this is not just temporary but in many cases a return to pre 9/11 lending standards where underwriters actually get to underwrite a loan file without being harassed by their boss for doing there job!

Broker says to building owner, I'll go to a conventional lender and see what they say. Broker does and loan is declined. Broker did the right thing for building owner because many property owners are declined because 1)bank they went to on their own is the wrong type of bank for their property type or isn't lending anymore in that part of the state or the whole state! 2)building owner or broker did a terrible job presenting loan to bank and didn't correctly argue the case before the bank and the Broker can then rule out thse possible reasons for a loan declination.

A reputable Broker will use a "hard"/situational/private money lender as a last resort. Now that Broker sees that building owner is not "bankable" with Main Stream lenders Broker will go to a hard money lender. Most will require an appraisal, some won't but may not lend in the state you own your property in. Broker should put in presentation to hard money lender one very important thing....that the proposed future loan should have some meaningful benefit to the borrower. In this case, the building owner is approved for a hard money loan at 11.9%, no prepayment penalty, NO Lockout clause, five year balloon and the monthly payment is being lowered by over a thousand dollars. Building owner's cross collaterization is removed (which will allow him/her to use those assets for other financing request or possible sale to raise even more cash) and a family member who cosigned will come off the loan(and Broker explains to borrower that family member should never have cosigned since they are not on the property and has no day to day role in the business-of course that bank will tell you otherwise). Building Owner is required to pay out of pocket for appraisal and toxic report. This may take another two weeks to 30 days.

In the building owner's case above there are enough benefits to go with the loan...oh and did I mention it gives him/her more time to escape the balloon? Building owner tried to get a loan with SBA, spent much time at the SBDC(small business development center) working on a business plan that didn't even result in financing. Building owner gets closure knowing that there are other financing options out there. Building Owner's plan is to pay down the credit cards that were used to renovate/rehab the building and if possible move to a conventional loan with a permanent fixed rate in about a year or two. Building Owner also is consolidating three liens on the property into one thereby reducing default and acceleration into foreclosure by any one lien holder (yes many people fail to realize that this dangerous clause may exist in a second or third mortgage note with regard to the additional second and third mortgage lien that you know is placed on your property!).

Hope this helps you understand how a hard money loan can be a bridge to becoming "bankable" and adress other problems besides the loan that plague building owners.

Charles G Hennebeul*Owner*American Cash Solutions Inc*631-368-2219*

http://www.mybuildingfunds.com

Hello my fellow commuters!

I just wanted to pass along a tip for those of you who grab the R/G/V at Steinway. I have noticed lately that the Metrocard Machines located in the entrace on 34th and Steinway seem to be out of order all the time. I know that this causes a huge problem if you are running late. Instead of trying to find a local shop that sells them - or walking to the next stop....try the entrance on Broadway and Steinway. They have a ton of machines and are always in working order. I know its still a hassel - but one extra block is 10 times better than 10 blocks - or wasting the money on a cab.

Feel free to join me in letting MTA know about the situation at 34th Street :)