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22-503: The CRE Finance Council is headquartered in New York City's financial district at 30 Broad Street . It changed its name on March 23, 2010, to CRE Financial Council. Along with its name change, CRE Finance Council expanded its membership and focus and added six Forums, market constituencies that encompass the commercial mortgage industry. Commercial mortgage-backed securities are bonds offered to investors that are collateralized by

44-461: A pool of commercial mortgage loans from which all of the principal and interest paid on those mortgages flows to investors. To create these investment vehicles, mortgage loans of varying dollar amounts, property type, and location —and containing a myriad of individualized terms and conditions — are pooled and transferred to a trust. Bonds then are issued backed by the pool of assets held in the trust. Those bonds vary in yield (the amount of return on

66-414: A scene late in the movie with Audrey Hepburn standing on the sidewalk outside its entrance. The building and Broad Street are also seen in an early scene when William Holden parks his car out front. The building is also used as a location in the opening scene of the 1954 film Executive Suite , also starring William Holden. A businessman walks out of the building, looks up and down Broad Street for

88-454: A taxi, then succumbs to a heart attack, setting the movie's plot into motion. Fa%C3%A7ade A façade or facade ( / f ə ˈ s ɑː d / ; ) is generally the front part or exterior of a building . It is a loanword from the French façade ( pronounced [fasad] ), which means " frontage " or " face ". In architecture , the façade of a building is often

110-444: Is actually encasing and concealing the older Portico of Glory . In modern high-rise building, the exterior walls are often suspended from the concrete floor slabs. Examples include curtain walls and precast concrete walls. The façade can at times be required to have a fire-resistance rating , for instance, if two buildings are very close together, to lower the likelihood of fire spreading from one building to another. In general,

132-487: Is typically reached within minutes of the start of a fire. Fire stops for such building joints can be qualified, too. Putting fire sprinkler systems on each floor has a profoundly positive effect on the fire safety of buildings with curtain walls. The extended use of new materials, like polymers , resulted in an increase of high-rise building façade fires over the past few years, since they are more flammable than traditional materials. Some building codes also limit

154-694: The Italian facciata , from faccia meaning 'face', ultimately from post-classical Latin facia . The earliest usage recorded by the Oxford English Dictionary is 1656. It was quite common in the Georgian period for existing houses in English towns to be given a fashionable new façade. For example, in the city of Bath , The Bunch of Grapes in Westgate Street appears to be a Georgian building, but

176-521: The lobby to the 20th floor and the other from the lobby to floors 21 through 47. The 48th floor is accessed by stairs from floor 47. Total rentable space is announced as 300,000 square feet (28,000 m ). The building columns sit on new footings which rest upon rocks. The average depth of the new foundations is 46 feet (14 m) below Broad Street. However, the Broad Street side of the building rests on existing caissons. An adjoining structure along

198-404: The spandrels . The building footprint rises from street level to the 20th floor, where the first setback is made; another setback exists at the 23rd floor. The building tower then rises from the 24th to 48th floors. The top of the building is flat (having no ornament). The building's lobby runs through from Broad Street to New Street with two elevator banks which serve the building, one set from

220-562: The appearance is only skin deep and some of the interior rooms still have Jacobean plasterwork ceilings. This new construction has happened also in other places: in Santiago de Compostela the three-metre-deep Casa do Cabido was built to match the architectural order of the square, and the main Churrigueresque façade of the Santiago de Compostela Cathedral , facing the Plaza del Obradoiro ,

242-432: The bonds), duration (the length of time before the bond is expected to be paid off), and payment priority (the order in which investors are paid a return on their investment). Borrowers, lenders, and investors all benefit from CMBS. Borrowers often benefit via access both to larger pools of capital than would otherwise be available in traditional lending markets and to lower interest rates. Lenders benefit from CMBS because

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264-461: The building by a system of pneumatic tubes to exchange receipts. Architects Morris and O’Connor completed drawings for the building in 1931. The demolition of the Johnston building was planned from May 5 to July 13. The 15-story structure had exterior masonry that bore walls composed of granite (some pieces weighing as much as 10 tons) that were up to three feet thick at the lower walls. The exterior

286-433: The building in 1943. The building was designed as a skyscraper rising 48 stories, 564 feet (172 m) above street level with a "simple" architecture. According to the architects, the structure is designed to express straightforward business of the highest class without excessive ornamentation. The first three stories of the façade are clad in limestone with the remainder made up of light-colored brick and dark brick at

308-472: The façade systems that are suspended or attached to the precast concrete slabs will be made from aluminum (powder coated or anodized) or stainless steel . In recent years more lavish materials such as titanium have sometimes been used, but due to their cost and susceptibility to panel edge staining these have not been popular. Whether rated or not, fire protection is always a design consideration. The melting point of aluminum, 660 °C (1,220 °F),

330-601: The liquidity of commercial real estate debt securities through access to the capital markets. Continental Bank Building The Continental Bank Building is a 50-story skyscraper at 30 Broad Street in the Financial District of Manhattan , New York City . It was completed in 1932 in the Art Deco style. It is next to the New York Stock Exchange Building . In 1929, a new 50-story building

352-465: The most important aspect from a design standpoint, as it sets the tone for the rest of the building. From the engineering perspective, the façade is also of great importance due to its impact on energy efficiency . For historical façades, many local zoning regulations or other laws greatly restrict or even forbid their alteration. The word is a loanword from the French façade , which in turn comes from

374-600: The percentage of window area in exterior walls. When the exterior wall is not rated, the perimeter slab edge becomes a junction where rated slabs are abutting an unrated wall. For rated walls, one may also choose rated windows and fire doors , to maintain that wall's rating. On a film set and within most themed attractions, many of the buildings are only façade, which are far cheaper than actual buildings, and not subject to building codes (within film sets). In film sets, they are simply held up with supports from behind, and sometimes have boxes for actors to step in and out of from

396-407: The securitization enables them to access the capital markets with their loan products and to obtain new bonds to make new loans. Investors benefit because CMBS creates a potentially attractive and credit-worthy investment vehicle that caters to their desired risk profile, investment term, and yield. Commercial Mortgage Securities Association is an international trade association dedicated to improving

418-413: The southern property line required triple cantilever plate girders to provide headroom for the elevator doors. There are three floors below ground. The total building weight is estimated at 55,000 tons (7,000 tons of steel). 30 Broad Street appears as the "Larrabee Building" in the original 1954 version of the movie Sabrina , as the headquarters of the family business empire. Its address is prominent in

440-464: Was announced at 30 Broad Street (location of the former 15-story Johnston Building ) to house the Continental Bank and Trust Company and various brokers. The site extends along Broad Street at 87 feet 7 inches (26.70 m), the length of Exchange Place runs 149 feet 8.5 inches (45.631 m) from New Street , and runs 88 feet (27 m) along New Street. The building site

462-400: Was ashlar granite while the interior was common brick backup laid in cement mortar. Its steel internal skeleton was only designed to carry the floor loads, because the exterior was self-supporting. The building opened for occupancy on April 27, 1932. The commercial real estate services company Cushman & Wakefield established a branch office here in 1932. The City Investing Company bought

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484-562: Was once owned by the Dutch Reformed Church which had erected the city's second almshouse on the site before 1659. The estimated cost of the new building was $ 20 million. The project was the largest single cooperative building venture undertaken to that time. Cross and Cross were announced as the building's planners. An "unusual" feature of the building was a sub- basement clearing house where owner-tenants each have floor space and can transact business with other owner-tenants in

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