Daily News Photos by Lee Hershfield Sally Kimball, who operates a local real-estate brokerage and a debt-settlement company, was inspired to open Classic Collections, a luxury consignment boutique at 118 N. County Road, after ‘showing a commercial space that was for lease’ and discovering she liked the site herself. An unexpected career Sally Kimball finds detour into consignment business a perfect niche. By ROBERT JANJIGIAN Daily News Fashion Editor S ally Kimball admits she is very fa- miliar with the shopping scene on the island, regularly partaking of a little retail therapy when the fashion acquisition urge overcomes her. The West Palm Beacher, who oper- ates a local real-estate brokerage and a debt-settlement company, especially favored combing the consignment bou- tiques clustered near the intersection of Sunset Avenue and County Road during her 25 years in the area. But Kimball, 61, never thought she would become a retailer herself. That all changed last fall, when Kim- ball noticed the slowing of the real-estate market and decided, in an uncharacteris- tically capricious way, to open a consign- ment boutique of her own. “I was showing a commercial space that was for lease to some clients,” she said. “I woke up at 2 a.m. that night and said to myself, ‘I like that place.’ “I had spent my life on the other side of the counter,” she said. “I thought I could make a go of it, with my business experience, as a seller of high-end con- signment clothing.” Kimball called the agent for the storefront. “I told her, ‘I’ve got somebody who wants to lease the space — me,’” she said. The agent assumed Kimball wanted to relocate her real-estate office and told her the space wasn’t zoned for that purpose. Kimball assured the agent that her intentions for the space were of the re- tail variety, that she was going into the consignment business. She signed the lease and immediate- ly got to work fixing up and gathering stock for the store at 118 N. County Road, which she christened Classic Collections. Before she called her friends to clean out their closets and consign their clothes to her, Kimball paid a visit to Tanya Pierce, who has operated the Tan- ya Pierce Collectibles ’n’ Gifts consign- ment shop for 10 years in Via Testa just a few storefronts west of the Classic Col- lections location. “She was worried about how to get consignments and clients,” said Pierce, who advised Kimball to focus on a partic- ular type of apparel and specific labels, distinctive from those carried by other consignment enterprises in the vicinity. “One shop already specializes in Beaded jewelry made by the West Palm Beach Crystal Couture firm and new fur coats and jackets from a supplier in upstate New York are offered at Classic Collections in addition to the pre- owned brand-name women’s apparel and accessories. Chanel, Armani and Escada, while an- other features sportswear,” Pierce said. “There’s a casual focus at one shop and, in our one-stop-consignment-shop dis- trict that’s developed, shops that special- ize in men’s wear, infant and children’s items and linens. “I don’t do clothes, so I also helped her by calling among my consigners to let them know Sally was looking for fashion.” Kimball only accepts well-known brand-name women’s apparel and acces- sories, with Hermès, Gucci, Emilio Puc- ci, Alexander McQueen, Bottega Veneta, Judith Leiber, St. John and Bill Blass her “gold standards.” “I’m not here to compete with the other shops,” she said. “I’ve wanted to do it right and have found that there’s a lot of cooperation between the owners of the several consignment shops. There’s enough out there for us all to have a piece of the pie.” Kimball agrees with Pierce’s as- sessment of Palm Beach as one of fin- est places in the country to be in the consignment business. The affluent residents who are avid collectors of de- signer-label clothes and accessories can supply merchandise to her shop, and the reputation of the island as a consignment shopper’s paradise draws customers. The customer base, in her view, dif- fers from those who frequent designer boutiques on Worth Avenue. Kimball, who hired Carla Blanchat to manage the store, is on the premises two or three days a week, which she believes is important to get a clear picture of what cus- Please see KIMBALL, Page A9 ‘Gently worn’ or never-worn pre-owned merchandise is the principal thrust of Classic Collections, which sees Palm Beachers as consigners — and customers.
Transcript
You certainly love everyone inyour family. But should you setup a family limited partnership
with them?A family limited partnership of-
ten serves as a way to get assets outof your estate so heirs ultimately maypay less estate tax.
Many lawyers, according to Leon-ard Witman, a Florham Park, N.J. taxattorney, are suggesting family limitedpartnerships for clients with assets ofat least $3.5 million. That’s the amountto which the federal estate tax exclu-sion rises next year.
With a family limited partnership,you create a partnership and transferassets to it. You might give your kids,for example, limited partnership inter-
ests. The limited partners own theirshare, but generally have no votingrights and are restricted in activities.You, as the general partner, retain fullcontrol.
Because of all the restrictions, thevalue of the partnership’s assets, ac-cording to IRS rules, may be discount-ed dramatically for tax purposes.
After all, how valuable are assets iftheir use is limited?
Family limited partnerships mayprove attractive for a family businessthat you wish to pass to your childrenbut want to continue controlling. Theyalso have been used for asset protec-tion.
Of course, the federal estate tax isslated to sunset for those who die be-
tween 2009 and 2011, so that tax maynever even be an issue. Meanwhile,Florida has no state estate tax.
But most experts expect a federalestate tax, given our federal deficit,will be made permanent. Also, morestates have been levying a death tax.So if you’re a snowbird, you also mightwish to consider the impact of yourstate death or estate tax on your estateplanning.
Critical consideration: “For a fam-ily limited partnership to be effec-tive as a tax-planning device, it’s notsupposed to be merely a tax-planningdevice,” warns Dan Kleinberger, pro-fessor at William Mitchell College ofLaw, St. Paul, Minn. Among reasonsfor setting one up that may prove more
acceptable to the IRS: Protecting as-sets in the face of irresponsible familymembers; consolidating family busi-nesses; pooling assets among familymembers to have a unified invest-ment strategy; and starting to transferwealth to the next generation.
“The magic is to transfer property tosomebody in a way so that the currentvalue is low, but eventually, it will haveincreased in value,” says Kleinberger,who worked on a uniform limited part-nership rule for the National Confer-ence of Commissioners on Uniform StateLaws, Chicago. “That increase in valuewill have gone without taxation.”
Family limited partnerships may be
Gail Liberman
Take care when starting family limited partnerships
Gail Liberman is co-au-thor of several bookswith her husband, AlanLavine. Their latest, pub-lished by Que, is ‘QuickSteps to Financial Stabil-ity.’ You may e-mail her [email protected] Please see LIBERMAN, Page A9
MANAGING YOUR FORTUNE
Daily News Photos by Lee Hershfield
Sally Kimball, who operates a local real-estate brokerage and a debt-settlement company, was inspired to open Classic Collections, a luxuryconsignment boutique at 118 N. County Road, after ‘showing a commercial space that was for lease’ and discovering she liked the site herself.
An unexpected careerSally Kimball finds detour into consignment business a perfect niche.
By ROBERT JANJIGIANDaily News Fashion Editor
Sally Kimball admits she is very fa-miliar with the shopping scene onthe island, regularly partaking of
a little retail therapy when the fashionacquisition urge overcomes her.
The West Palm Beacher, who oper-ates a local real-estate brokerage anda debt-settlement company, especiallyfavored combing the consignment bou-tiques clustered near the intersection ofSunset Avenue and County Road duringher 25 years in the area.
But Kimball, 61, never thought shewould become a retailer herself.
That all changed last fall, when Kim-ball noticed the slowing of the real-estatemarket and decided, in an uncharacteris-tically capricious way, to open a consign-ment boutique of her own.
“I was showing a commercial spacethat was for lease to some clients,” shesaid. “I woke up at 2 a.m. that night andsaid to myself, ‘I like that place.’
“I had spent my life on the other sideof the counter,” she said. “I thought Icould make a go of it, with my businessexperience, as a seller of high-end con-signment clothing.”
Kimball called the agent for thestorefront.
“I told her, ‘I’ve got somebody whowants to lease the space — me,’” shesaid.
The agent assumed Kimball wanted torelocate her real-estate office and told herthe space wasn’t zoned for that purpose.
Kimball assured the agent that herintentions for the space were of the re-tail variety, that she was going into theconsignment business.
She signed the lease and immediate-ly got to work fixing up and gatheringstock for the store at 118 N. County Road,which she christened Classic Collections.
Before she called her friends toclean out their closets and consign theirclothes to her, Kimball paid a visit toTanya Pierce, who has operated the Tan-ya Pierce Collectibles ’n’ Gifts consign-ment shop for 10 years in Via Testa justa few storefronts west of the Classic Col-lections location.
“She was worried about how to getconsignments and clients,” said Pierce,who advised Kimball to focus on a partic-ular type of apparel and specific labels,distinctive from those carried by otherconsignment enterprises in the vicinity.
“One shop already specializes in
Beaded jewelry madeby the West PalmBeach Crystal Couturefirm and new furcoats and jackets froma supplier in upstateNew York are offeredat Classic Collectionsin addition to the pre-owned brand-namewomen’s apparel andaccessories.
Chanel, Armani and Escada, while an-other features sportswear,” Pierce said.“There’s a casual focus at one shop and,in our one-stop-consignment-shop dis-trict that’s developed, shops that special-ize in men’s wear, infant and children’sitems and linens.
“I don’t do clothes, so I also helpedher by calling among my consignersto let them know Sally was looking forfashion.”
Kimball only accepts well-knownbrand-name women’s apparel and acces-sories, with Hermès, Gucci, Emilio Puc-ci, Alexander McQueen, Bottega Veneta,Judith Leiber, St. John and Bill Blassher “gold standards.”
“I’m not here to compete with theother shops,” she said. “I’ve wanted todo it right and have found that there’s alot of cooperation between the owners of
the several consignment shops. There’senough out there for us all to have apiece of the pie.”
Kimball agrees with Pierce’s as-sessment of Palm Beach as one of fin-est places in the country to be in theconsignment business. The affluentresidents who are avid collectors of de-signer-label clothes and accessories cansupply merchandise to her shop, and thereputation of the island as a consignmentshopper’s paradise draws customers.
The customer base, in her view, dif-fers from those who frequent designerboutiques on Worth Avenue.
Kimball, who hired Carla Blanchat tomanage the store, is on the premises twoor three days a week, which she believes isimportant to get a clear picture of what cus-
Please see KIMBALL, Page A9
‘Gently worn’ or never-worn pre-owned merchandise is the principal thrust of ClassicCollections, which sees Palm Beachers as consigners — and customers.
BUSINESS
Flood insurance pushon before storm season
By MICHAEL KAISERDaily News City Editor
The Palm Beach chapter of the Florida Associ-ation of Insurance and Financial Advisorswarns that Floridians should buy their flood
insurance now to ensure they’re covered for hurri-cane season.
Many homeowners assume their current policywill cover flood losses, but that is not true. A sepa-rate policy must be purchased through the Nation-al Flood Insurance Program.
Local insurance agents sell the policies.There is a 30-day wait for the policies to take ef-
fect.“Floridians cannot wait until hurricanes are
reported to purchase this coverage,” said Bob Lo-tane, spokesman for the association. “That is waytoo late. They need to take time now to considerwhether to protect themselves.”
Almost all areas are susceptible to flooding tosome degree. Up to 25 percent of flood claims occurin areas considered to be at low to moderate risk offlooding, according to the Federal Emergency Man-agement Agency.
More information is available by calling the Na-tional Flood Insurance Program at (800) 638-6620or online at www.floodsmart.gov.
■
Home transformed, designer lauded — PalmBeach designer Chad Renfrowon the Product Design of theYear award from the Build-ing Industry Association dur-ing the 18th annual PinnacleAwards last month.
Renfro, of Chad RenfroDesigns, received the awardfor his interpretation of a mod-el residence at the West BayClub in southwest Florida.
Renfro was inspired by theBritish West Indies while in-troducing a nautical aestheticusing white and navy to cre-ate a crisp and clean look. Themodel was recently featuredin Grandeur, a real estatesupplement to the Palm BeachDaily News, and Gulfshore Life.
“The idea was to take myclients’ designer-ready modeland transform it into a light,airy, but transitional BritishColonial style,” he said.
Chad Renfro Design wasestablished in July 2003 andhas developed product designfor clients in Palm Beach, theCaribbean, the Hamptons,Manhattan, Nantucket andNaples.
The Pinnacle Awards rec-ognize success and professionalism in new homesales and marketing.
■
Estate priced at $35M — Palm Beach residentEli Wilner, the country’s leading frame dealer andrestorer, has put his Montauk, N.Y., home on themarket for $35 million.
The 35-acre estate comes with a 7,000-square-foot contemporary home and 400 feet of ocean front-age. The home, built in 1994, has five bedrooms,five baths and 16-foot ceilings throughout.
Also featured is a chef’s kitchen, home theater,radiant floor heating, walls of glass with oceanviews and 3,500 square feet of mahogany decking.
The property includes acres of natural pre-serve, trails, a freshwater pond and a pathway to aprivate beach.
Wilner is the founder of Eli Wilner & Co., aManhattan-based gallery established in 1983. The
Please send news items for the business columnto Michael Kaiser at the Palm Beach Daily News,265 Royal Poinciana Way, Palm Beach, FL 33480;fax them to (561) 655-4594; or e-mail them [email protected]
RenfroEarns Product Design
of the Year awardfrom the Building
Industry Association.
Please see BUSINESS NOTES, Page A9
WilnerHis 35-acre Montaukhome is on market.
Palm Beach Daily News, Sunday, May 4, 2008A8
8A Color/Final
set up in any state, even if youdon’t live there.
Beware, though. The IRS ison the attack when it comes tofamily limited partnerships.
“The IRS aggressivelytries to attack it when it wasestablished just prior to some-one’s death,” Witman says.
The legitimacy of a lim-
LIBERMANBeware the IRSFrom Page A8
ited partnership may be lesslikely to be challenged if it’sdesigned around a businessrather than marketable secu-rities, Kleinberger adds.
With a family limitedpartnership, consider gifttax limits, currently $12,000a year per donor per donee.Exceed that, and you stillcan give another $1 millionover your life without payinggift tax.
Also, be careful aboutdoing anything that would
prompt the IRS to come in andsay you never made the gift.
The rules governing fam-ily limited partnerships areextremely complicated. Also,they vary by state. So youneed a very trustworthy es-tate planning attorney whowill explain everything.
Meanwhile, there may beother ways to get money outof an estate besides familylimited partnerships. Amongthose: Outright annual gifts,Grantor Retained Annu-
ity Trusts, and paying for achild’s medical expenses oreducation directly. Pay theinstitutions directly, Witmannotes, and the IRS doesn’tconsider the payment a gift.
What if you make a mis-take setting up your familylimited partnership?
“The risk,” according toKleinberger: “You’ll end updead and your kids will endup paying taxes on assets youthought you had gotten out ofyour estate.”
tomers are looking for, as she has final sayon what consignments to accept.
“I choose the pieces and advise peo-ple about the prices that can be asked,”Kimball said. “If the price is too high, itwon’t sell.”
In the short time Classic Collectionshas been open, Kimball, by investing ina sophisticated computer system thattracks the history of a particular label’ssales success, has become an authorityon the high-end consignment market.
“I’m a businesswoman, so I had to doit this way,” she said.
She reported that 40 percent to 50 per-cent of those who buy in the shop hailfrom Palm Beach.
“They are also my regular consign-ers,” she said.
While “gently worn” or never-wornpre-owned merchandise is the principalthrust of Classic Collections’ business,Kimball did decide to stock beaded jewel-
ry made by the West Palm Beach CrystalCouture firm and new fur coats and jack-ets from a supplier in upstate New York.
“I don’t take jewelry on consign-ment, and I’ve always been a fan of Crys-tal Couture,” she said.
The beaded necklaces, bracelets andearrings are priced from $125 to $900,considered affordable in the contextof a consignment boutique, where thepre-owned clothes and accessories startat under $100 and can go up to about$7,000.
“Used furs don’t sell,” Kimball saidof her reasons for carrying new fur piec-es. “You’d be surprised how well furs sellin Palm Beach.”
She tries to select lighter-weight jack-ets and doesn’t deal with full-length coats.The furs are offered at prices reduced by50 percent to 75 percent off what one wouldpay at full retail, Kimball said.
KIMBALLForty percent to 50 percent of customers are from Palm Beach
From Page A8
RULES OF CONSIGNMENTClassic Collections accepts “new” or “like
new” luxury and designer-label women’sclothing, including suits, separates, dressesand gowns, handbags, scarves, hats and otheraccessories for sale on a consignment basis.
All items must be dry cleaned or pressed andon hangers.
The boutique pays a commission of 50percent of the sales price for each item, whichis determined by Kimball and the consigner.A $5 handling fee is charged for each itemconsigned.
The consignment period is 60 days, withitems marked down by 20 percent if not soldwithin the first 30 days. If unsold after 60days, items can be reclaimed by their owners,although the boutique will charge a processingfee equal to 10 percent of the initial priceassigned to the item.
— ROBERT JANJIGIAN
gallery is the world’s largestresource for antique frames,with more than 3,000 framesin its collection.
The company also oper-ates a professional studioon Long Island, employingskilled craftsmen providingfull frame restoration andprecise frame replication.
The property is represent-ed by associates of HowardLorber, the chairman andprincipal owner ofManhattan-basedPrudential Doug-las Elliman.
■
Aid to childrenrecognized — PalmBeach attorneyPaul Rampellhas been awardedthe Juvenile LawAward by theLegal Aid Societyof Palm BeachCounty.
Rampell, whohas an office onRoyal Palm Way,was recognized forhis legal represen-tation of a seriesof indigent abusedchildren whose par-ents were unableto care for thembecause of drugs,crimes and similarproblems.
■
Office buildingto debut — City-Place Tower, an 18-story office buildingon OkeechobeeBoulevard in WestPalm Beach, willcelebrate its grandopening with a re-ception May 14.
The $110 millionproject is a jointventure betweenThe Related Com-panies, developersof CityPlace in WestPalm Beach and theTime Warner Cen-ter in New York, and BocaRaton-based Crocker Part-ners, developers of MiznerPark and Boca Center.
Palm Beach resident Ste-phen Ross is chairman andCEO of The Related Compa-nies, which oversees a real-estate portfolio valued atmore than $15 billion.
Guests at the grand open-ing event on the 15th floorcan experience the tower’sdramatic design, views, secu-rity systems and connectivityto CityPlace’s retail and res-taurants.
The building is at thesouth entrance to CityPlace,on the northwest corner ofOkeechobee and Quadrilleboulevards. The site is acrossthe street from the PalmBeach County ConventionCenter.
The building is nearly75 percent leased, and thefirst tenant is preparing tomove in. The anchor tenantis money management firmINTECH, formerly based inPalm Beach Gardens.
Other tenants includeCleveland Clinic Florida,Regions Financial Corp.,JBHanauer & Co. and thelaw firm Carlton Fields.
The 300,000-square-foot tower was designed byElkus/Manfredi Archi-tects of Boston, the samefirm that designed CityPlace.
“The design of the newoffice tower complementsthe European heritage ofCityPlace’s architecture,yet projects a contemporaryimpression,” said HowardElkus of Elkus/Manfredi Ar-chitects.
For more informa-tion, call Jon Blunk at659-7554, e-mail [email protected] or visitwww.cityplacetower.com.
■
Integrated servicesspecialist — National CityPrivate Client Group hasnamed Kathleen Strother asvice president, client adviser.
As client adviser, Stroth-er will partner with retailbranch, small business, retailinvestments, mortgage andother internal specialists toprovide integrated services.She will report to Mark Ste-vens, managing director.
In addition, Strother willact as primary contact for
the local client managementteam and retail banking.
Strother most recent-ly served as vice president,wealth adviser of ComericaWealth & Institutional Man-agement, where she was re-sponsible for developing andexpanding relationships withthe bank’s high-net-worth cli-entele. She also oversaw thesales activities as regionalsales manager.
“Kathleen’s depth of fi-nancial experience, coupled
with her niche ex-pertise in invest-ment managementand financial plan-ning, makes her awonderful asset tothe PCG team,” Ste-vens said.
The Private Cli-ent Group serveshigh-net-worthindividuals andfamilies by pro-viding wealthmanagement andinvestment guid-ance.
■
Visitors bu-reau announcesscholarships — Aspart of the Provi-dencia AwardsGala, the PalmBeach CountyConvention andVisitors Bureauwill award $10,000in scholarships— one for $5,000and two for $2,500— to three studentsattending colleg-es in Palm BeachCounty.
■ ChantelleBean of Boynton Beach isthe winner of the $5,000scholarship. Bean is astudent at Florida AtlanticUniversity, where she isstudying business andhospitality management. Shealso works at Hotel Biba inWest Palm Beach.
■ Anne Meads of Jupiterand Amanda Henningerof West Palm Beach won the$2,500 scholarships.
Meads is studying hoteland restaurant managementat Northwood Universityin West Palm Beach whileworking at Jupiter BeachResort and Spa. Henninger isattending Florida CulinaryInstitute and studyingculinary arts.
The students will receivetheir scholarships at the20th installment of theorganization’s annual galaMay 17 at the Palm BeachCounty Convention Center.
Scholarship applicantswere required to have adeclared major in culinaryarts, hospitality or hotel-resort management with aGPA of 3.0 or higher.
Reservations for thegala can be made onlineat palmbeachfl.com or bycalling 233-3000.
■
Diplomats networkaims to help tourism — ThePalm Beach County Conven-tion and Visitors Bureau andthe Business DevelopmentBoard have launched thePalm Beach County Diplo-mats program to help marketthe region as a destination formeetings, conventions andleisure travel.
The diplomats network isdesigned to create an allianceamong representatives of var-ious industries who will toutthe area as a destination.
“It’s a volunteer programthat will allow each diplomatto leverage relationships andcontacts that are already inplace in their professionaland community lives,” CVBpresident Jorge Pesquerasaid.
Meetings and conventionsbring thousands of visitorsto a destination. Palm BeachCounty reports that morethan $1.2 billion is generatedannually.
StrotherVice president, clientadviser, National CityPrivate Client Group.
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Palm Beach Daily News, Sunday, May 4, 2008 A9
9A Final
set up in any state, even if youdon’t live there.
Beware, though. The IRS ison the attack when it comes tofamily limited partnerships.
“The IRS aggressivelytries to attack it when it wasestablished just prior to some-one’s death,” Witman says.
The legitimacy of a lim-
LIBERMANBeware the IRSFrom Page A8
ited partnership may be lesslikely to be challenged if it’sdesigned around a businessrather than marketable secu-rities, Kleinberger adds.
With a family limitedpartnership, consider gifttax limits, currently $12,000a year per donor per donee.Exceed that, and you stillcan give another $1 millionover your life without payinggift tax.
Also, be careful aboutdoing anything that would
prompt the IRS to come in andsay you never made the gift.
The rules governing fam-ily limited partnerships areextremely complicated. Also,they vary by state. So youneed a very trustworthy es-tate planning attorney whowill explain everything.
Meanwhile, there may beother ways to get money outof an estate besides familylimited partnerships. Amongthose: Outright annual gifts,Grantor Retained Annu-
ity Trusts, and paying for achild’s medical expenses oreducation directly. Pay theinstitutions directly, Witmannotes, and the IRS doesn’tconsider the payment a gift.
What if you make a mis-take setting up your familylimited partnership?
“The risk,” according toKleinberger: “You’ll end updead and your kids will endup paying taxes on assets youthought you had gotten out ofyour estate.”
tomers are looking for, as she has final sayon what consignments to accept.
“I choose the pieces and advise peo-ple about the prices that can be asked,”Kimball said. “If the price is too high, itwon’t sell.”
In the short time Classic Collectionshas been open, Kimball, by investing ina sophisticated computer system thattracks the history of a particular label’ssales success, has become an authorityon the high-end consignment market.
“I’m a businesswoman, so I had to doit this way,” she said.
She reported that 40 percent to 50 per-cent of those who buy in the shop hailfrom Palm Beach.
“They are also my regular consign-ers,” she said.
While “gently worn” or never-wornpre-owned merchandise is the principalthrust of Classic Collections’ business,Kimball did decide to stock beaded jewel-
ry made by the West Palm Beach CrystalCouture firm and new fur coats and jack-ets from a supplier in upstate New York.
“I don’t take jewelry on consign-ment, and I’ve always been a fan of Crys-tal Couture,” she said.
The beaded necklaces, bracelets andearrings are priced from $125 to $900,considered affordable in the contextof a consignment boutique, where thepre-owned clothes and accessories startat under $100 and can go up to about$7,000.
“Used furs don’t sell,” Kimball saidof her reasons for carrying new fur piec-es. “You’d be surprised how well furs sellin Palm Beach.”
She tries to select lighter-weight jack-ets and doesn’t deal with full-length coats.The furs are offered at prices reduced by50 percent to 75 percent off what one wouldpay at full retail, Kimball said.
KIMBALLForty percent to 50 percent of customers are from Palm Beach
From Page A8
RULES OF CONSIGNMENTClassic Collections accepts “new” or “like
new” luxury and designer-label women’sclothing, including suits, separates, dressesand gowns, handbags, scarves, hats and otheraccessories for sale on a consignment basis.
All items must be dry cleaned or pressed andon hangers.
The boutique pays a commission of 50percent of the sales price for each item, whichis determined by Kimball and the consigner.A $5 handling fee is charged for each itemconsigned.
The consignment period is 60 days, withitems marked down by 20 percent if not soldwithin the first 30 days. If unsold after 60days, items can be reclaimed by their owners,although the boutique will charge a processingfee equal to 10 percent of the initial priceassigned to the item.
— ROBERT JANJIGIAN
gallery is the world’s largestresource for antique frames,with more than 3,000 framesin its collection.
The company also oper-ates a professional studioon Long Island, employingskilled craftsmen providingfull frame restoration andprecise frame replication.
The property is represent-ed by associates of HowardLorber, the chairman andprincipal owner ofManhattan-basedPrudential Doug-las Elliman.
■
Aid to childrenrecognized — PalmBeach attorneyPaul Rampellhas been awardedthe Juvenile LawAward by theLegal Aid Societyof Palm BeachCounty.
Rampell, whohas an office onRoyal Palm Way,was recognized forhis legal represen-tation of a seriesof indigent abusedchildren whose par-ents were unableto care for thembecause of drugs,crimes and similarproblems.
■
Office buildingto debut — City-Place Tower, an 18-story office buildingon OkeechobeeBoulevard in WestPalm Beach, willcelebrate its grandopening with a re-ception May 14.
The $110 millionproject is a jointventure betweenThe Related Com-panies, developersof CityPlace in WestPalm Beach and theTime Warner Cen-ter in New York, and BocaRaton-based Crocker Part-ners, developers of MiznerPark and Boca Center.
Palm Beach resident Ste-phen Ross is chairman andCEO of The Related Compa-nies, which oversees a real-estate portfolio valued atmore than $15 billion.
Guests at the grand open-ing event on the 15th floorcan experience the tower’sdramatic design, views, secu-rity systems and connectivityto CityPlace’s retail and res-taurants.
The building is at thesouth entrance to CityPlace,on the northwest corner ofOkeechobee and Quadrilleboulevards. The site is acrossthe street from the PalmBeach County ConventionCenter.
The building is nearly75 percent leased, and thefirst tenant is preparing tomove in. The anchor tenantis money management firmINTECH, formerly based inPalm Beach Gardens.
Other tenants includeCleveland Clinic Florida,Regions Financial Corp.,JBHanauer & Co. and thelaw firm Carlton Fields.
The 300,000-square-foot tower was designed byElkus/Manfredi Archi-tects of Boston, the samefirm that designed CityPlace.
“The design of the newoffice tower complementsthe European heritage ofCityPlace’s architecture,yet projects a contemporaryimpression,” said HowardElkus of Elkus/Manfredi Ar-chitects.
For more informa-tion, call Jon Blunk at659-7554, e-mail [email protected] or visitwww.cityplacetower.com.
■
Integrated servicesspecialist — National CityPrivate Client Group hasnamed Kathleen Strother asvice president, client adviser.
As client adviser, Stroth-er will partner with retailbranch, small business, retailinvestments, mortgage andother internal specialists toprovide integrated services.She will report to Mark Ste-vens, managing director.
In addition, Strother willact as primary contact for
the local client managementteam and retail banking.
Strother most recent-ly served as vice president,wealth adviser of ComericaWealth & Institutional Man-agement, where she was re-sponsible for developing andexpanding relationships withthe bank’s high-net-worth cli-entele. She also oversaw thesales activities as regionalsales manager.
“Kathleen’s depth of fi-nancial experience, coupled
with her niche ex-pertise in invest-ment managementand financial plan-ning, makes her awonderful asset tothe PCG team,” Ste-vens said.
The Private Cli-ent Group serveshigh-net-worthindividuals andfamilies by pro-viding wealthmanagement andinvestment guid-ance.
■
Visitors bu-reau announcesscholarships — Aspart of the Provi-dencia AwardsGala, the PalmBeach CountyConvention andVisitors Bureauwill award $10,000in scholarships— one for $5,000and two for $2,500— to three studentsattending colleg-es in Palm BeachCounty.
■ ChantelleBean of Boynton Beach isthe winner of the $5,000scholarship. Bean is astudent at Florida AtlanticUniversity, where she isstudying business andhospitality management. Shealso works at Hotel Biba inWest Palm Beach.
■ Anne Meads of Jupiterand Amanda Henningerof West Palm Beach won the$2,500 scholarships.
Meads is studying hoteland restaurant managementat Northwood Universityin West Palm Beach whileworking at Jupiter BeachResort and Spa. Henninger isattending Florida CulinaryInstitute and studyingculinary arts.
The students will receivetheir scholarships at the20th installment of theorganization’s annual galaMay 17 at the Palm BeachCounty Convention Center.
Scholarship applicantswere required to have adeclared major in culinaryarts, hospitality or hotel-resort management with aGPA of 3.0 or higher.
Reservations for thegala can be made onlineat palmbeachfl.com or bycalling 233-3000.
■
Diplomats networkaims to help tourism — ThePalm Beach County Conven-tion and Visitors Bureau andthe Business DevelopmentBoard have launched thePalm Beach County Diplo-mats program to help marketthe region as a destination formeetings, conventions andleisure travel.
The diplomats network isdesigned to create an allianceamong representatives of var-ious industries who will toutthe area as a destination.
“It’s a volunteer programthat will allow each diplomatto leverage relationships andcontacts that are already inplace in their professionaland community lives,” CVBpresident Jorge Pesquerasaid.
Meetings and conventionsbring thousands of visitorsto a destination. Palm BeachCounty reports that morethan $1.2 billion is generatedannually.
StrotherVice president, clientadviser, National CityPrivate Client Group.
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