The owners of 60 Wall St. yesterday announced they refinanced the office tower’s $575 million mortgage at a substantially higher interest rate, paving the way for redevelopment of the empty building with a distinctive public lobby.“60 Wall will be redeveloped to today’s standards and will redefine the standard of redeveloped assets in the Financial District,” Albert Behler, chief executive of Paramount Group, said on a conference call today. The developer owns the building along with Singapore’s sovereign wealth fund.The $250 million project, now underway, is a big bet that tenants will lease space downtown even though there are plenty of options nearby. Vacancy rates in the Financial District are 27.6%, according to Colliers, and newly freed-up office space at 55 Water St., 14 Wall St. and 180 Maiden Lane have contributed to the tumbleweeds vibe of the neighborhood.Those risks explain why the new mortgage for 60 Wall St. comes with an elevated interest rate.A $259 million slice of the five-year mortgage carries a 12% interest rate and is a payment-in-kind loan, meaning if the landlords choose not to make a monthly payment then the unpaid obligation is added to the balance of the loan. PIKs are risky because they allow borrowers to add more debt to their balance sheets and avoid paying their interest obligations in the short term.Another $316 million piece of the $575 million loan has a floating interest rate of 7.8%, the same as the mortgage Paramount and its partner... Continue reading at 'Crains New York'
[ Crains New York | 2024-05-02 17:53:38 UTC ]
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In 2021, chain-wide sales at Half Price Books were up 20% over 2020. The company now runs 124 stores in 19 states. Employees have unionized at four different stores in Minnesota. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-01-20 05:00:00 UTC ]
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Yellow Kite has secured How to Create Little Happy Learners: Daily Activities for Children, the debut from Sophie David which aims to “promote a love of learning”. Continue reading at The Bookseller
[ The Bookseller | 2022-01-19 13:59:28 UTC ]
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The Bookseller’s annual Christmas trading survey, backed up by new data from the Booksellers Association, suggests that the majority of indie booksellers had an excellent festive sales period. Continue reading at The Bookseller
[ The Bookseller | 2022-01-16 11:21:18 UTC ]
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Octopus Publishing Group imprint Monoray has signed a deal for Unmasking Autism: The Power of Embracing Our Hidden Neurodiversity by Chicago-based professor Dr Devon Price. Continue reading at The Bookseller
[ The Bookseller | 2021-12-21 08:31:19 UTC ]
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Embla Books, the digital-first imprint of Bonnier Books UK, has secured two “laugh-out-loud” romantic comedies from Rachel Bowdler. Continue reading at The Bookseller
[ The Bookseller | 2021-12-15 05:16:19 UTC ]
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I’m not sure The Black Prince is my favorite book of all time, but it might be the most indelible, the most neuron-rewiring. The post A Year in Reading: Adam O’Fallon Price appeared first on The Millions. Continue reading at The Millions
[ The Millions | 2021-12-04 11:00:03 UTC ]
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The United Kingdom's audiobook sales show an eye-catching 71-percent jump, January to June this year over the same period in 2019. The post The UK’s Publishers Association Charts a ‘Steep Rise’ in Audiobook Sales appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2021-11-28 17:52:33 UTC ]
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Amazon's Fire tablets make great portable, secondary devices, or primary devices for the kids in your life. They're already pretty affordable — that's one of the best things about them — but Black Friday has knocked their prices down even more. Most Fire tablets are on sale right now, including... Continue reading at Engadget
[ Engadget | 2021-11-19 09:30:03 UTC ]
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The owners of award-winning independent bookshop Book-ish are raising funds to "secure their future", seeking to buy their premises before it goes on the open market. Continue reading at The Bookseller
[ The Bookseller | 2021-11-18 16:44:18 UTC ]
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On this day in 1953, comic book legend Alan Moore (Watchmen, V for Vendetta, From Hell, Batman: The Killing Joke) was born in was Northampton, England. In addition to his mastery of signature storytelling, Moore is known for his forthright, outspoken nature (take, for instance, his criticism of... Continue reading at Literrary Hub
[ Literrary Hub | 2021-11-18 16:09:18 UTC ]
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This may be one of your best chances of scoring a smart speaker or e-reader before the holiday rush. Amazon is selling multiple recent Echo devices (plus a Kindle reader) at very low prices. To start, the fourth-generation Echo speaker is on sale for just $60 (usually $100), or the same as its... Continue reading at Engadget
[ Engadget | 2021-10-31 14:22:12 UTC ]
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It’s now more apparent than ever that security is a critical aspect of IT infrastructure, and that devastating data breaches can occur from simple network line hacks. As shown in this book, combining the latest version of Python with an increased focus on network security can help you to level... Continue reading at Betanews
[ Betanews | 2021-10-13 17:39:30 UTC ]
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HarperNonFiction has launched an innovative marketing campaign for the early e-book release of Ben Mezrich’s The AntiSocial Network, which will allow readers to manipulate the title's price by micro trading in GameStop stock. Continue reading at The Bookseller
[ The Bookseller | 2021-09-13 00:36:07 UTC ]
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Wigtown Book Festival has launched a £25,000 fundraising appeal to help secure its future following the financial challenges of Covid-19. Continue reading at The Bookseller
[ The Bookseller | 2021-08-31 11:52:47 UTC ]
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Now might be a good time to buy an e-reader for school — or that end-of-summer vacation. Amazon has cut the price of the ad-supported 8GB Kindle Paperwhite to an all-time low of $71 in a one-day-only sale, well below the official $130 sticker. That's lower than what we saw just two weeks... Continue reading at Engadget
[ Engadget | 2021-08-29 15:44:54 UTC ]
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Penguin Random House surprised booksellers yesterday with the announcement that Amanda Gorman's forthcoming volume 'Call Us What We Carry' would be double the anticipated length, and that the price will be raised by $5. PRH said it will “honor the original price for all customers who pre-ordered... Continue reading at Publishers Weekly
[ Publishers Weekly | 2021-08-26 04:00:00 UTC ]
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The Duke of Sussex's news coincided with his first public appearance in the U.S. since the birth of his daughter, Lilibet. Continue reading at The Huffington Post
[ The Huffington Post | 2021-08-20 15:50:27 UTC ]
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Aster has acquired two more books from Pip Payne, founder of the award-winning blog The Slimming Foodie and author of The Slimming Foodie, published by the Octopus imprint earlier this year. Continue reading at The Bookseller
[ The Bookseller | 2021-08-20 13:25:10 UTC ]
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Dark fantasy author Scarlett St. Clair will join Bloom Books, which will publish her new novel 'King of Battle and Blood,' along with her complete backlist and forthcoming new books. Continue reading at Publishers Weekly
[ Publishers Weekly | 2021-07-23 04:00:00 UTC ]
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