One of the Upper East Side’s many vacant former pharmacy locations has been scooped up.
Brooklyn-based Dumbo Market claimed the big corner that CVS left behind in 2023 at 1223 Second Ave. and East 64th Street.
The upscale food market signed the 12,000 square-foot lease with Regency Centers, which owns the retail condominium.
Dumbo Market has claimed a prime spot at 1223 Second Ave. Michael Nagle
Jason Gerbsman, principal of HUDSON Real Estate, represented the tenant. The landlord was repped by JLL’s Patrick A. Smith and Jesse Wolff.
Gerbsman said, “I’m appreciative of the opportunity to work with Dumbo Market on their expansion. With the potential overflow of pending drug store vacancies on the horizon, we will continue to scout new locations” for Dumbo Market.
The retailer has Brooklyn locations in Dumbo and Boerum Hill and recently signed a lease at mixed-use complex Jasper in Hunters Point, Queens.
Brooklinen, a Brooklyn-based home-goods brand known for premium sheets and towels, is leaving the borough for Hudson Square.
The company is moving its headquarters from 10 Jay St. in DUMBO for 225 Varick St., a 360,000 square-foot building owned by a joint venture of Trinity Church NYC, Norges Bank Investment Management and Hines. The 32,000 square-foot lease is for 10 years.
“Brooklinen’s strategic move highlights the Hudson Square neighborhood’s growing attraction for innovative, high-growth companies,” said Hines senior managing director Jason Alderman.
“We’re seeing an emerging trend in the relocation of corporate headquarters to Hudson Square.”
The 12-story 225 Varick St., built in 1926, now boasts a modernized lobby by A + I Architecture. It’s 82% leased. The JV’s Hudson Square portfolio consists of 13 buildings with six million square feet.
Well, that didn’t take long.
Just weeks after Macy’s Inc. sold its famed Fulton Street Brooklyn store to an investor group led by Albert Laboz — and said it hadn’t decided whether to close it — the retail giant announced it will close the location this year, along with a smaller store in Sheepshead Bay.
President-elect Trump’s answer to an ‘I gotcha’ question is capturing all of the headlines – his refusal to rule out military force in the Panama Canal – but many in the media are missing its intended messaging.
Trump and his incoming national security team are putting Chinese President Xi Jinping on notice.
They are essentially telling him and the rest of the world – we see what Beijing is aiming to economically and militarily achieve in the Western hemisphere.
Trump and his incoming national security team are putting Chinese President Xi Jinping on notice. The Washington Post via Getty Images
Canada, Greenland, the Panama Canal and even the Drake Passage at the End of the World are all interconnected. China is their common denominator.
This isn’t about U.S. military conquests of old. Rather, it is solely about telling Xi “hands off!” It is the 21st century version of the Monroe Doctrine – and it is coming at a time when China is increasingly asserting itself on the global stage.
Beijing is working to strangle economically and militarily U.S. maritime and naval sea routes by controlling key choke points and naval transit routes.
Trump’s second term was always going to be more China centric. Xi’s rapidly expanding People’s Liberation Army will be a principal driving factor when his administration rewrites the National Security Strategy as mandated by the Goldwater-Nichols Department of Defense Reorganization Act of 1986.
As is his custom, Trump is arguing the case against Beijing in largely economic terms. However, the impetus for his argument is primarily driven by China and its dual track approach to building a global military projection force.
The key word is “dual.” China’s $1 trillion and growing Belt and Road Initiative is economic in construct. However, it is also an alarming modern-day Trojan Horse that is building the infrastructure that will house an increasingly potent global Chinese military presence.
Chinese President Xi Jinping’s rapidly expanding People’s Liberation Army will be a principal driving factor when Trump’s administration rewrites the National Security Strategy. Getty Images
We have seen evidence of this in play. China’s economic investment in Africa led to the opening in 2018 of its first overseas military base in Djibouti and only several miles away from Camp Lemonnier – the U.S. base in the Horn of Africa.
Initially this was about Beijing gaining access to raw materials and then securing sea routes back to mainland China by securing deep water seaports, building artificial islands and deploying military forces to secure them.
Now it is also about Xi threatening vital Western trade routes in the Gulf of Aden and the Bab-el-Mandeb Strait.
Artful or not, Trump’s warnings about the Panama Canal are timely. China is aspiring to economically control the canal. The Landbridge Group, a Chinese company, alongside “Hong Kong-based CK Hutchison Holdings, now operate ports at both ends of the canal.”
Greenland may appear to most Americans to be an isolated concern; yet the Danish territory will play an increasingly vital role in U.S. national security in the decades ahead.
Global warming is opening up the 3,500-mile Northern Sea Route that extends from the Bering Sea separating Alaska and Siberia to the Barents and Kara Seas north of Murmansk, Russia.
Artful or not, Trump’s warnings about the Panama Canal are timely. AP
Aside from NORAD, the U.S. is presently ill-prepared to defend against any Russian and Chinese militarization of the Arctic. By example, the U.S. Navy only has two icebreakers to cover the competing Northwest Passage in Canada.
Currently, the threat is largely Russian. But, in 2018, China declared itself a “Near Arctic State” and launched the “Polar Silk Road” – an Arctic version of Beijing’s Belt and Road Initiative in partnership with Moscow.
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Left unspoken for now by Trump, China’s other ambition lies at the tip of South America in Chile. Retired U.S. Army Gen. Laura Richardson, the former commander of SOUTHCOM, warned Congress in March 2023, that Beijing is attempting to “secure the rights to build dual-use maritime installations near the southern port city of Ushuaia.”
If that happens, China could militarily dominate the Strait of Magellan, Drake Passage and Antarctica in the not-so-distant future. It would also mean that Beijing could strategically check or to block at will U.S. maritime and naval transiting of the Pacific and Atlantic oceans.
We only need to consider Taipei and Manila to know that Xi is willing to play that card. The PLA frequently encircles Taiwan by sea and air to practice cutting its sea trade routes and the PLA Navy routinely harasses Filipino shipping.
China is challenging us on our own turf. Do we have the determined resolve as a nation to confront them?
There’s always uncertainty when it comes to the stock market. But there are some things investors can do to try and demystify movements in share prices.
One of these is paying attention to key leading economic indicators. And there’s an important one coming from the US this week.
Consumer sentiment
On Wednesday, the latest update from the Michigan Consumer Sentiment Index is due. It should give investors a key insight into how US consumers are thinking about their finances.
Michigan Consumer Sentiment Index 2020-2025
Created at TradingView
The index is made up of the survey results from 500 households and is published monthly. As important as the overall number is the direction in which it is moving.
In general, when consumers are feeling more positive, they’re likely to spend more. And when they’re more cautious, the reverse is true.
Based on the results, investors like me can get a feel for what might happen in the near future. But the reading needs to be handled with care.
Finding stocks to buy
There are two reasons the consumer sentiment reading is important. One is that a weak outlook can cause share prices to fall, which can create buying opportunities in a couple of different ways.
If a decline in spending is likely to be temporary, long-term investors might consider buying shares in companies that will be able to endure short-term challenges before emerging stronger. This is one idea.
Alternatively, if a stock falls because the market overestimates how willing consumers are to cut back on its products, it might be undervalued. This could generate an opportunity for investors to consider.
The other reason the reading is significant is it can help predict when companies in a cyclical downturn are likely to turn around. And this doesn’t just apply to US stocks.
Dr Martens
Dr Martens (LSE:DOCS) is UK stock. It’s had a difficult time over the last few years and a lot (though not all) of this is due to weak consumer spending in the US, which accounts for 37% of sales.
The share price has started to bounce back, recovering 50% from its 52-week lows set in September. But unless things start to pick up with the underlying business, there’s a real risk this will be short-lived.
The firm has made progress in fixing its own mistakes, in terms of its inventory and distribution. And while it has rebooted its marketing to try and boost demand, there are some things it can’t control.
That’s why I’m keeping a close eye on the US consumer sentiment data. It could be a good indication of whether the business is heading towards recovery, or whether the stock has further to fall.
Finding stocks to buy
I’m not saying a strong consumer sentiment update by itself is a reason to buy Dr Martens – or any other stock. But I do think being aware of what’s going on can be useful for understanding the stock market.
That’s why I’ll be paying attention this week when the latest data comes out. With around 68% of the US economy coming from consumer spending, I’ll be looking at it for much more than just Dr Martens.
I think a SIPP can be an excellent way to try and build wealth ahead of retirement, which is why I invest in one.
But while a SIPP can hopefully help me make money, some mistakes along the way could also cost me.
Here are four errors I am hoping to avoid in 2025 (and always!)
Ignoring the ‘small’ costs
Different SIPPS come with their own cost and fee structures.
As the amount in a SIPP grows, such costs may seem like a fairly small proportion of the amount invested. But it is important to remember that a SIPP is a long-term investment vehicle.
While 1% or 2% (or even 0.5%) might not sound much this year or next year, over the course of three or four decades a small annual levy can add up to a huge amount.
So I am paying attention right now to whether my SIPP provider offers me good value for money.
Lacking an investment strategy
Another mistake I am trying to avoid is investing without a strategy.
That does not need to be a formal plan. It need not be complicated. But I reckon it is important to sit down and think about how I hope to grow the value of my SIPP.
For example, what is the right balance of growth and income shares? How much of the SIPP do I want to invest and how much will I keep in cash at any one time (if any)? Are markets beyond the UK potentially more attractive for me?
My point here is not about the specifics of my strategy, but rather than by developing an approach and adapting it as I go I hope to try and miss out on some avoidable errors.
For example, I would not want to miss out on a huge surge in growth shares because I was 100% focused on dividend shares.
Not diversifying enough
That brings me to another error: not spreading a SIPP across enough shares.
As most seasoned investors know, even the most brilliant share can suddenly tank unexpectedly.
That hurts financially – but even more so if its role in a SIPP is too large relative to other holdings.
Not learning from mistakes
It is easy to revel in great investments. But what about lousy ones?
A lot of us like to forget about them. But I think that can be costly, as it means we may just make similar errors in future.
For example, one of the worst performers in my SIPP is boohoo (LSE: BOO). From MFI to Superdry, I have owned quite a few awful retail shares. So although I still invest in the sector, I am wary.
What was my key mistake with boohoo?
I think one was ignoring the market signal: a massive price decrease before I bought was not the bargain I hoped. Rather, it was other investors signalling their declining confidence in the retailer’s prospects.
I thought past profitability equated to a proven business model. But – and I know this – past performance is not necessarily a guide to what will happen in future. Competition from the likes of Shein changed boohoo’s marketplace dramatically.
I still own the shares and hope boohoo’s large customer base and strong brands can help it recover. But I have learnt a hard lesson!
When considering dividend yields, UK investors tend to get wary around the 7% mark. This is often thought of as an area where the sustainability of payments is questionable. If a company is allocating too much cash to dividends it can lead to operational issues and weaker performance.
At that point, dividends are usually cut, leaving shareholders disgruntled. This in turn dissuades new investment, leading to a downward spiral.
There is the occasional exception to the rule but it’s considered a good estimate to go on with.
With that in mind, I prefer to aim for an average yield of around 6% to stay on the safe side. Yields in such a portfolio may occasionally stray above 7% but generally level out.
Look beyond the yield
Even a yield below 7% doesn’t guarantee anything as the company may still struggle to cover payments. To truly assess the sustainability of payments, it helps to check debt and free cash flow.
Companies spend their free cash in different ways. It can be saved up, used to reduce debt, spent on share buybacks, or used to pay dividends.
Debt isn’t a problem so long as interest payments are covered. If not, dividends could face the chopping block. But with cash flowing and debt well covered, there’d be little reason to cut dividends.
Don’t forget to diversify
Businesses in similar industries tend to have similar financials. So when looking for sustainable yields, an investor may end up picking four insurance companies. Sure, they may all be reliable dividend payers but the portfolio would be too exposed to one sector.
It would be better to pick the most reliable high-yield dividend stock from four different industries. Diversification is all about balance.
Two examples
Consider National Grid and ITV (LSE: ITV). They operate in different sectors with consistently high yields and dividend coverage ratios above two.
As the UK’s main gas and electricity supplier, National Grid is a company that enjoys consistent demand and stable revenue. Its operations are well regulated, so it tends to be quite stable, with annual dividends increasing consistently for over 20 years.
But it faces pressure from energy price caps and costly upgrades to meet decarbonisation goals. This has resulted in growing debt, a problem compounded by rising interest rates. With cash flow dwindling, it recently cut dividends by 15%.
ITV, on the other hand, has enjoyed growing equity while reducing its debt lately. It lacks the solid payment track record of National Grid but enjoys steady cash flow. This lessens the chance of dividend cuts, making the 7% yield attractive.
Competition is fierce, though, with the likes of Netflix, Disney,and Amazon muscling in on the digital streaming market. While ITV continues to extract decent value from its Studios arm, profits are at risk from losses in streaming.
This partially contributed to a minor revenue decline in 2023, from £3.73bn to 3.62bn. But its first-half 2024 results show some recovery, with revenue up 2.4% and profit margins soaring to 17% from 2.6% a year earlier.
These examples show how dividend stocks can differ, yet both remain popular options and worth considering as part of an income portfolio.
COS kicks off the new year with a January 2025 collection that focuses on transitional dressing. Fronted by model Lulu Tenney, the photo shoot pairs sharp tailoring and flowing silhouettes against a tranquil beach backdrop.
COS January 2025 Collection
Lulu Tenney poses on the beach wearing COS’ January 2025 arrivals. Photo: COS
Key pieces include a sleek silk bomber jacket, a hybrid cape that fuses practicality with high style, and a quilted jacket perfect for layering in changing weather. Muted tones of black and taupe dominate the palette, creating a minimalist and impactful wardrobe.
COS focuses on light layering with its new arrivals. Photo: COS
Tailored trousers, structured coats, and fluid skirts anchor the designs. The collection’s emphasis on texture and clean lines highlights COS’ commitment to minimal fashion rather than fleeting trends.
COS Oversized Workwear Coat. Photo: COS
On the heels of its eveningwear line, COS proves that transitional dressing doesn’t have to sacrifice style for practicality.
MDM and Apple Business Manager (or Apple Business Essentials) allow for zero-touch deployment. IT does not even have to see a device; it can be shipped new in the box to an employee and it will automatically configure and enroll in MDM when querying Apple’s activation servers during startup.
By contrast, managing devices manually can be extremely time consuming because you have to set up each device by hand when installing configuration profiles — and you must touch it every time you need to make changes. Security updates (or any software updates) cannot be forced to install, leaving it up to each user to install them or not.
When a device is managed via MDM, there’s a constant back and forth communication between the device and your company’s MDM service. This allows a whole host of features, particularly security features such as being able to query the device status, lock/unlock the device, install software updates, and add applications and other content over the air.
CES (formerly the Consumer Electronics Show) is the biggest tech convention of the year. It helps set the stage for all the wonderful gadgets we’re going to see over the next 12 months. However, among all the quadcopters, questionably benevolent robots and devices with fancy flexible screens, there’s a lot of small things that go into making CES a one-of-a-kind event. To highlight some of the silly, stupid and occasionally wholesome things we encountered at the show this year, we humbly present the very unofficial Dumb Fun awards for CES 2025.
Cutest digger – Komatsu PC01E-2
Sam Rutherford for Engadget
Komatsu’s PC01E-2 looks like a children’s playground toy, except that it actually works and is really goddam cute. You almost want to walk over and pinch that little bucket until it turns pink. But it’s not all fun and games because this little digger is meant to help excavate things — even in tight spaces. In fact, it’s small enough to fit in most elevators, so if you run into a situation where you need to get some digging done, say, on the roof, Komatsu’s got you.
We generally try to be optimistic about new tech. But ever since Faraday Future announced its first concept car back in 2016, the company has made less than 20 cars in total. And for the massive accomplishment of producing less than two dozen vehicles, Faraday Future’s founder and CEO went and gave themselves raises. Now at CES 2025, the company is trying to make a comeback with its new line of FX EVs, except that it couldn’t even be bothered to paint them. That special camouflage automakers use is usually meant to help hide a vehicle’s design before it gets announced, not make it look like a half-finished product at its own press event. That said, calling it 50 percent done is probably way too generous. So while there’s always a chance a company turns it around, don’t be surprised if you never see a FX Super One on the road.
Daniel Cooper for Engadget
If you ever need someone to sacrifice their sartorial elegance for a story, he’s your man. And yet, even with a floppy photovoltaic-equipped, mess of a head ornament, there’s still no doubt he’s the most dapper Dan.
Everyone is always worried about when our robot overlords are going to come and conquer us. Except it’s the humans we should probably be worried about the most. That’s because during a demo for Unitree’s robot, its homo sapien operator fumbled the controller, resulting in the robot basically tackling our very own Karissa Bell. Human or robot, that’s just not OK.
Originally this list was meant to highlight interesting things we saw at CES that didn’t get a lot of praise (or hate) elsewhere, but then the Mirumi went and won an award. I don’t care, though. This robot is designed to do one thing — hold onto your arm and stare cutely at things as you walk around. It’s basically a puffball with eyes and a clingyness that can’t be denied. And I will protect and cherish it with my life.
Cherlynn Low for Engadget
Look, taking care of your skin is important. It’s the largest organ in your body after all! But if traditional moisturizers, creams and exfoliants aren’t enough for you, I’m not convinced Shark’s red light mask is the answer. If I’m at home and my significant other comes out of the bathroom looking like goddam Doctor Doom, I’m not getting in bed. I’m running out the door and calling Reed Richards for help.
Chillest booth: AARP
Sam Rutherford for Engadget
The AARP describes itself as “the nation’s largest nonprofit, nonpartisan organization dedicated to empowering Americans 50 and older to choose how they live as they age.” So instead of encouraging people to hustle around from booth to booth while checking out all the new-fangled gadgets during CES, the AARP went and decided to install a whole-ass pickleball court right on the show floor. Naturally, attendees both young and old stepped up to the net and causally batted balls back and forth with everyone seemingly having a relaxing time in the midst of the biggest tech convention of the year. Good on y’all.
Las Vegas is an affront to Mother Nature. It’s an unwalkable city in the middle of the desert filled with all manner of temptations and enough neon lighting to melt your brain. So when a company doesn’t feel like flying in to attend CES, we get it. But that doesn’t mean you can try to weasel your way into the spotlight by sending email pitches about being “perfect for CES, but smart enough to skip it.” Either stop fence sitting and suffer with the rest of us or shut up. So hey Jackrabbit, you say you’re fine not being at CES. That’s cool, we feel the same way.
Daniel Cooper for Engadget
You know what sounds safe? An electric moped that turns into a quadcopter, but only if you position the propellers and arms yourself. The base model also only has about 25 minutes of flight time. While the company claims there are a number of safety features, there’s also a built-in parachute. Don’t get me wrong, I’m not saying we can’t have air taxis and other hybrid aerial vehicles. But this thing does not inspire confidence. However, if you have more guts and than sense, please give it a try and let us know how it goes.
Sam Rutherford for Engadget
Not every computer part needs to be about pumping out higher framerates and MSI proved that this year by making a CPU cooler with a built-in turntable. What’s the point, you ask? Well check out that happy little dragon sitting atop its throne. Just look at him. But really, you could put anything up there that makes you happy. The only sad part is that this water block is merely a concept and MSI has no actual plans to put it on sale. What a bummer.
Sam Rutherford for Engadget
We couldn’t decide which one was more outrageous, so we ended up with a tie in this category. For Dell, its new unified branding is largely fine. After all, no one really cares about lines like Latitude, Inspiron and Optiplex. But killing off the XPS name, which is the only Dell sub-brand that has really ever meant something, is a step too far.
Meanwhile, in an attempt to woo younger buyers who might not have an affinity for its classic black laptops, Lenovo made a ThinkPad with no carbon fiber or a Trackpoint nub. That’s downright sacrilegious. Admittedly, if you’re younger than 50 you might not care, but any nerd who grew up using rotary phones is probably pissed.
Horniest booth: Handy
Sam Rutherford for Engadget
CES is home to all sorts of sex tech, but even among all the vibrators and various toys, the Handy booth somehow managed to be hornier than any other. That’s because in addition to having a selection of kinky gadgets on display, the company had guests lining up to spin a wheel for the chance to take home a prize of their own. And if people eagerly awaiting a chance to take away a pleasure device so they can get their rocks off isn’t horny, I don’t know what is. Just maybe keep it in your pants until you get home.
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As Republicans look to blame anyone and everyone for the LA wildfires, President Biden has mounted a vigorous federal response to assist the local communities that have been impacted and are still battling the fires.
A White House official summarized the support that the federal government is providing during the LA wildfires:
At the President’s direction, the Department of Defense is providing support to the firefighting efforts, including:
Overnight infrared imaging for perimeter maps,
The California National Guard is providing 1,000 personnel to support efforts, 250 of which have firefighting capabilities, and
The Department of Defense is making its bases in the area available as shelters for displaced personnel and families with over 1,000 beds and has established March Reserve Base as an incident response area.
Overnight – local, state, and federal firefighters continued their efforts to contain some of the fires.
The Hurst fire near Sylmar is now 70 percent contained.
The Sunset fire Hollywood Hills is now 100 percent contained.
The Kenneth fire near West Hills is now 50 percent contained.
As of this morning, more than 16,000 people have registered for the FEMA assistance made available by the President’s Major Disaster Declaration on Wednesday.
Today, President Biden spoke by phone with local officials, including Los Angeles County Supervisor Lindsey Horvath and Ventura County Supervisor Kelly Long.
While Biden is doing everything listed above, Donald Trump is hanging out on his social media platform, making staff announcements, posting memes of himself, and whining about “lawfare.”
Greg Gutfeld has returned to the airwaves after an extended break due to his wife having a baby.
On his FOX News show on Friday night, Greg opened by tearing into the media and the comedy world for covering for Joe Biden’s obvious decline over the last four years.
He notes that in many ways, the media is still trying to cover for Joe Biden on his way out the door.
GREG GUTFELD: Look out Tricky Dick. There’s a new worst president in town. According to a new Gallup poll, Biden is the lowest rated of any president in the last 65 years, other than Nixon. But to be fair to Nixon, compared to Biden’s scandals, Watergate looks like a broken taillight. Now, when you rate Biden the worst since Nixon, you’re saying he’s the worst ever, because pollsters only ask about presidents that people have lived under going back to Kennedy. Unless you’re some historian, you’re only capable of rating presidents in your memory. Hell, Biden himself doesn’t even remember his own presidency…
So the worst since Nixon is really the worst ever. And keep in mind, the public hates Biden, even with most of the press covering up his dementia for this whole term. And sure, they panicked and piled on him after that deadly debate. But they can’t make us forget how many times they lied for him. Hell, they’re still doing it even when he does stuff like this…
PRESIDENT JOE BIDEN: It’s astounding what’s happening…with only one piece of good news. My son lives out here and his wife. They’re–They got a notification yesterday that their home was probably burned to the ground. Today, it appears that it may be still standing. They’re not sure. But the good news is I’m a great grandfather as of today…
GUTFELD: Way to read the room, you callous corpse. Sorry your city is burning, but I brought cigars. Anyone got a match? I’m going to be a great granddaddy. ****, what a clown. I guess we can be grateful he didn’t ask Jimmy Carter to stand up at the eulogy.
Watch the whole thing below:
Greg’s cast of sidekicks did a great job filling in for him over the past few months, but it is great to have him back in the host’s chair.
