Portion of Macy’s Flagler Street property in downtown Miami sold

A New York firm bought part of the Macy’s building in downtown Miami and is expected to acquire the rest. The next priority is negotiating a new lease to keep Macy’s as a tenant.

In a deal that could have implications for the future of downtown Miami’s anchor retail tenant, a New York real estate investment firm paid $15.55 million to acquire more than half the property that now houses Macy’s Flagler Street store.

The acquisition by Aetna Realty Group includes the 48,000 square feet of land that was leased to R.W. Burdine in 1917. Until the recent sale, the property was owned by 23 heirs of Richard and Harriet Ashby, who signed the initial 99-year lease with Burdine. The lease expires in 2016.

The Ashby family began taking steps to prepare the property at the intersection of Miami Avenue and Flagler Street for sale nearly four years ago, said Lewis R. Cohen, a GrayRobinson lawyer who represented the Ashby family in the transaction that closed on New Year’s Eve.

Over the years, Macy’s and its predecessor, Burdines, grew the site’s downtown presence well beyond the Ashby land, and the current building now extends another 30,000 square feet of land. Aetna has also made a commitment to purchase the remaining portion of the building, that is currently owned by Macy’s, Cohen said. But that deal hasn’t closed yet.

“That deal is a sure thing,” Cohen said. “They could not have closed with us without having an agreement with Macy’s completely nailed down.”

When Macy’s decided not to purchase the Ashby land itself, the owners soughta third-party that could control both pieces. The reason: Improvements made to the store over the years straddled both properties, such as elevators and escalators starting on one parcel and ending on another.

“Between the engineering difficulties of severing the properties and the legal issues involved, it would have been somewhere between extremely expensive and impossible” for different entities to share control, Cohen said.

Aetna was one of three bidders interested in the site, Cohen said. One of the other players was the Barlington Group, a Miami developer that in 2011 signed a deal with Macy’s to sub-lease 20,000 square feet of empty ground-floor space for a mix of restaurants and cafes.

Macy’s spokesman Jim Sluzewski said this transaction doesn’t impact Macy’s current lease. He declined to comment on any other pending transaction regarding the property the retailer owns in downtown Miami.

“It’s business as usual,” said Sluzewski, who also would not discuss Macy’s long-term plans for downtown Miami beyond the expiration of its lease. The company’s roots in downtown Miami date to 1898, when the first Burdines opened in a nearby downtown location.

Aetna and its local attorneys did not respond to calls Wednesday for comments.

But Cohen said Macy’s is in the process of finalizing a short-term deal with the new owners.

“They intend to stay for at least the foreseeable future,” Cohen said. “For a minimum of five years they’ll be there and possibly longer.”

Downtown scene

Macy’s long-term future on Flagler Street has been in doubt since 2007, when Macy’s Florida then-Chairwoman Julie Greiner took city leaders to task for the deplorable conditions in downtown and threatened that the retailer might leave.

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Man grazed by stray bullet in Miami on New Year’s Eve

A stray bullet fired into the air just after midnight on New Year’s Eve struck a man as he celebrated at a party in Miami, according to police.

The bullet grazed the man’s upper left shoulder. Paramedics treated him outside the Allapattah home at Northwest 25th Avenue and 32nd Street. The man, who was not identified, wasn’t taken to a hospital.

Miami police spokesman Detective Willie Moreno confirmed that the victim was struck by a stray bullet.

Homeowner Randy Ruiz said the injured man was a friend of a friend who was visiting his home on New Year’s Eve.

“We had a lot of friends and family in my yard, and fireworks were being fired off,” Ruiz said. “Just after midnight, one of the guests complained of blood on his shirt. So we quickly ran over to see what was going on and saw there was blood on his left arm.”

Neighbor Barbara Jimeno, who has three grandchildren between the ages of one and four, said she was alarmed by what happened.

“It could happen to me or my grandchildren, who live around the block,” she said.

The injury followed a series of warnings from the Miami mayor, Miami police and activists about the dangers of firing bullets into the air on New Years Eve.

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Barack Obama’s AMA is Reddit’s Top Post of 2012

Do you remember that Barack Obama AMA on Reddit this past August? The one that started with “Hi, I’m Barack Obama, President of the United States. Ask me anything.”

That was Reddit’s top post of 2012 with 5,598,171 page views. Reddit compiled a list of it’s top posts of the year we just said farewell to.

[More from Mashable: This Is 2012 Summed Up in One Image]

The site also handed out some “best of” awards along with a few other tidbits of info. To see if your favorite post ranked, check out the video above.

BONUS: 20 Silliest Questions Posed to Obama in reddit AMA

1. Star Trek vs Star Wars

[More from Mashable: Dying Trekkie Gets Private ‘Into Darkness’ Screening]

Click here to view this gallery.

This story originally published on Mashable here.

Tech News Headlines – Yahoo! News

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Taylor Swift Harry Styles New Years Eve Kiss

Taylor Swift and Harry Styles had equally amazing 2012's, and they kissed good-bye to the preceding 365 days together in Times Square last night.

After singing on ABC's New Year's Rocking Eve, Swift and Styles braved the crowds to watch the ball drop. And to the hordes of fans who'd gathered to count down to midnight, "Haylor's" ensuing smooch ended up being more captivating than all the twinkling lights in the sky.

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NY area lawmakers furious after House GOP scraps vote on Sandy aid

WASHINGTON — New York area-lawmakers in both parties erupted in anger late Tuesday night after learning the House Republican leadership decided to allow the current term of Congress to end without holding a vote on aid for victims of Superstorm Sandy.

Rep. Peter King, R-N.Y., said he was told by the office of Majority Leader Eric Cantor of Virginia that Speaker John Boehner of Ohio had decided to abandon a vote this session.

Cantor, who sets the House schedule, did not immediately comment. House Democratic Whip Steny Hoyer of Maryland told reporters that just before Tuesday evening's vote on "fiscal cliff" legislation, Cantor told him that he was "99.9 percent confident that this bill would be on the floor, and that's what he wanted."

A spokesman for Boehner, Michael Steel said, "The speaker is committed to getting this bill passed this month."

In remarks on the House floor, King called the decision "absolutely inexcusable, absolutely indefensible. We cannot just walk away from our responsibilities."

The Senate approved a $60.4 billion measure Friday to help with recovery from the October storm that devastated parts of New York, New Jersey and nearby states. The House Appropriations Committee has drafted a smaller, $27 billion measure, and a vote had been expected before Congress' term ends Thursday at noon.

More than $2 billion in federal funds has been spent so far on relief efforts for 11 states and the District of Columbia struck by the storm, one of the worst ever to hit the Northeast. The Federal Emergency Management Agency's disaster relief fund still has about $4.3 billion, enough to pay for recovery efforts into early spring, according to officials. The unspent FEMA money can only be used for emergency services, said Rep. Frank Pallone Jr., D-N.J.

New York, New Jersey, Connecticut, District of Columbia, West Virginia, Virginia, Maryland, New Hampshire, Delaware, Rhode Island, Pennsylvania and Massachusetts are receiving federal aid.

Sandy was blamed for at least 120 deaths and battered coastline areas from North Carolina to Maine. New York, New Jersey and Connecticut were the hardest hit states and suffered high winds, flooding and storm surges. The storm damaged or destroyed more than 72,000 homes and businesses in New Jersey. In New York, 305,000 housing units were damaged or destroyed and more than 265,000 businesses were affected.

"This is an absolute disgrace and the speaker should hang his head in shame," said Rep. Eliot Engel, D-N.Y.

"I'm here tonight saying to myself for the first time that I'm not proud of the decision my team has made," said Rep. Michael Grimm, R-N.Y. "It is the wrong decision, and I' m going to be respectful and ask that the speaker reconsider his decision. Because it's not about politics, it's about human lives."

"I truly feel betrayed this evening," said Rep. Nita Lowey, D-N.Y.

"We need to be there for all those in need now after Hurricane Sandy," said Rep. Gregory Meeks, D-N.Y.

The House Democratic leader, Rep. Nancy Pelosi of California, said she didn't know whether a decision has been made and added, "We cannot leave here doing nothing. That would be a disgrace."

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Housing, jobs key to lifting S&P toward record

NEW YORK --
With it appearing that Washington lawmakers are working their way past the “fiscal cliff,” many analysts say that the outlook for stocks in 2013 is good, as a recovering housing market and an improving jobs outlook helps the economy maintain a slow, but steady recovery.

Reasonable returns in 2013 would send the S&P 500 toward, and possibly past, its record close of 1,565 reached in October 2007.

A mid-year rally in 2012 pushed stocks to their highest in more than four years. Both the Standard & Poor’s 500 and the Dow Jones industrial average posted strong gains in 2012. Those advances came despite uncertainty about the outcome of the presidential election and bouts of turmoil from Europe, where policy makers finally appear to be getting a grip on the region’s debt crisis.

“As you remove little bits of uncertainty, investors can then once again return to focusing on the fundamentals,” says Joseph Tanious, a global market strategist at J.P. Morgan Funds. “Corporate America is actually doing quite well.”

Although earnings growth of S&P 500 listed companies dipped as low as 0.8 percent in the summer, analysts are predicting that it will rebound to average 9.5 percent for 2013, according to data from S&P Capital IQ. Companies have also been hoarding cash. The amount of cash and cash-equivalents being held by companies listed in the S&P 500 climbed to an all-time high $1 trillion at the end of September, 65 percent more than five years ago, according to S&P Dow Jones Indices.

Assuming a budget deal is reached in a reasonable amount of time, investors will be more comfortable owning stocks in 2013, allowing valuations to rise, says Tanious.

Stocks in the S&P 500 index are currently trading on a price-to-earnings multiple of about 13.5, compared with the average of 17.9 since 1988, according to S&P Capital IQ data. The ratio rises when investors are willing to pay more for a stock’s future earnings potential.

The stock market will also likely face less drag from the European debt crisis this year, said Steven Bulko, the chief investment officer at Lombard Odier Investment Managers. While policy makers in Europe have yet to come up with a comprehensive solution to the region’s woes, they appear to have a better handle on the region’s problems than they have for quite some time.

Stocks fell in the second quarter of 2012 as investors fretted that the euro region’s government debt crisis was about to engulf Spain and possibly Italy, increasing the chances of a dramatic slowdown in global economic growth.

“There is still some heavy lifting that needs to be done in Europe,” said Bulko. Now, though, “we are dealing with much more manageable risk than we have had in the past few years.”

Next year may also see an increase in mergers and acquisitions as companies seeks to make use of the cash on their balance sheets, says Jarred Kessler, global head of equities at broker Cantor Fitzgerald.

While the number of M&A deals has gradually crept higher in the past four years, the dollar value of the deals remains well short of the total reached five years ago. U.S. targeted acquisitions totaled $964 billion through Dec. 27, according to data tracking firm Dealogic. That’s slightly down from last year’s total of $1 trillion and about 40 percent lower than in 2007, when deals worth $1.6 trillion were struck.

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Peeping tom suspect nabbed at Forever21 store at Sawgrass Mills mall

A suspected “peeping tom” was arrested Sunday after he was caught with video of women trying on clothes at the Forever21 store at the Sawgrass Mills mall.

Andre Clements, 30, has been charged with video voyeurism and disorderly conduct, Sunrise police said.

A manager at the store became suspicious when Clements, 30, was caught loitering in the dressing rooms. Customers also complained about Clements.

The manager alerted mall security, who called Sunrise police. When police arrived, the manager found several large slits in the curtain which separated the fitting room Clements was in and the adjoining fitting room.

In Clements possession police found a Sony camcorder with videos of young women changing clothes.

Clements admitted taping the women just before police had arrived.

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Unreleased ‘BlackBerry X10′ QWERTY phone appears again in new photos

Title Post: Unreleased ‘BlackBerry X10′ QWERTY phone appears again in new photos
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Hugh Hefner Ties the Knot!

It's official! Hugh Hefner married Crystal Harris in an intimate ceremony on New Year's Eve...

ET confirms that the 86-year-old Playboy founder and his 26-year-old model girlfriend were married at the Playboy Mansion in Los Angeles.

Related: Hugh Hefner's Fiancee Shows Off Engagement Ring

Harris was nicknamed the "Runaway Bride" for calling off the couple's first attempt at a wedding just days before the ceremony in June of 2011. The couple announced their engagement in December 2010.

This is the third marriage for the Playboy mogul, who first married Mildred Williams in 1949 and then wed Kimberley Conrad in 1989.

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North Korean leader Kim Jong Un wants better living standards, arms

SEOUL, South Korea — North Korean leader Kim Jong Un on Tuesday called for improving the economy and living standards of his impoverished nation with the same urgency that scientists showed in successfully testing a long-range rocket recently.

Kim's first New Year's speech, delivered on state TV, was peppered with rhetoric, with calls for boosting the military's capabilities and making the science and technology sector world class. But other passages in the speech were also an acknowledgement of the poor state of the country's economy that has long lagged behind the rest of the region.

EPA

Kim Jong Un delivers a New Year's Day address in Pyongyang, North Korea.

North Korea has little arable land, is prone to natural disasters and struggles to grow enough food for its 24 million people.

The annual New Year's Day message lays out North Korea's policy goals for the year. But Kim gave no indication whether he plans to introduce economic reforms or allow free enterprise, except to say the economy should be underpinned by science and technology.

"The industrial revolution in the new century is, in essence, a scientific and technological revolution, and breaking through the cutting edge is a shortcut to the building of an economic giant," he said.

He then pointed at the success of a long-range rocket that North Korea fired on Dec. 12, ostensibly carrying a satellite into space.

"Let us bring about a radical turn in the building of an economic giant with the same spirit and mettle as were displayed in conquering space," he said.

North Korea has hailed the rocket as a big step in peaceful space exploration. Washington and others called the launch a banned test of ballistic missile technology and a step in Pyongyang's pursuit of a nuclear tipped long-range missile.

North Korea has tested two atomic devices since 2006, both times weeks after U.N. condemnation of a long-range launch. A recent analysis of North Korea's main nuclear test site indicates readiness for a possible third atomic explosion.

Kim made no mention of nuclear weapons, but indicated that military will continue to be boosted.

"The sector of defense industry should develop in larger numbers sophisticated military hardware of our own style that can contribute to implementing the Party's military strategy," he said.

"Only when it builds up its military might in every way can it develop into a thriving country and defend the security and happiness of its people," Kim said.

The speech itself was a signal that Kim will continue with a leadership style more in line with his gregarious grandfather, national founder Kim Il Sung who routinely addressed his people on New Year's Day, than with his father, Kim Jong Il, who avoided making public speeches. He never gave a TV address during his 17-year-rule, and his New Year's messages were published as joint editorials in the nation's three major newspapers.

With the speech — the first televised New Year's Day message by a North Korean leader in 19 years — Kim Jong Un has tried to tap into North Koreans' fond memories of his grandfather, said Koh Yu-hwan, a professor of North Korean studies at Dongguk University in South Korea.

The rocket launch boosted public morale, Koh said. "Now people are expecting him to improve the economy and help them live better economically," Koh said. "Kim Jong Un knows that and feels the pressure of meeting that demand."

Kim, who took power after his father's death on Dec. 17, 2011, has asserted control over the government and the military by dismissing its powerful chief Ri Yong Ho. Some other officials who were viewed as more moderate, including Kim's uncle, Jang Song Thaek, were elevated.

South Korean president-elect Park Geun-hye has said she will make efforts in her five-year term to boost aid and engage North Korea.

"If Kim Jong Un is going to engineer a shift from 'military-first' to 'It's the economy, stupid,' he is going to need Seoul's encouragement, and he doesn't have five years to wait," John Delury, an analyst at Seoul's Yonsei University, wrote recently.

He said it's up to South Korea "to unclench its fist first, so that the leader of the weaker state can outstretch his hand."

Kim's speech avoided harsh criticism of the United States, its wartime enemy. North Korea has used past New Year's editorials to accuse the U.S. of plotting war.

In other signs of changes in the country — at least at a superficial level — North Korea also had its first grand New Year's Eve celebration, with residents of the capital treated to the boom of cannons and fireworks at midnight.

In Pyongyang, residents danced in the snow at midnight Monday to celebrate the end of a big year for North Korea, including the 100th anniversary of the birth of Kim Il Sung and the first year of Kim Jong Un's leadership. Fireworks lit up the cold night sky, and people stood in fur-lined parkas, taking photos and laughing and dancing with each other in plazas.

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