A historic Midtown building is up for auction after years of financial trouble.The Charles Scribner’s Sons Building, which opened in 1913, is set to be auctioned off Wednesday after it went into foreclosure late last year. The building is the former home of publisher Charles Scribner’s Sons’ bookstore and offices, where authors such as F. Scott Fitzgerald and Ernest Hemingway met with their editors. Located at 597 Fifth Ave., the building is hitting the auction block along with the neighboring 3 E. 48th St.Thor Equities, run by developer Joe Sitt, bought both 597 Fifth and 3 E. 48th in 2011 for $108.5 million. Thor combined the ground-floor retail spaces and took out a $105 million mortgage from lender UBS in 2014. But after retail tenant Lululemon, an exercise brand, moved out, Thor defaulted on the loan in 2020. Thor continued to rent out the retail portion of the building, however; it is currently occupied by fashion brand Club Monaco.In late 2024, the value of the mixed-use building had declined by 37% in one year, appraised at just $53 million, Morningstar said in a report. The building’s court-appointed manager, JLL, claimed in court documents that the roof was leaking and needed costly repair after Thor allegedly effectively abandoned the property without performing legally mandated maintenance work.Judge Andrea Masley ruled in December that the lender could foreclose on the properties with a judgment of $140.4 million plus interest. The properties will be sold at... Continue reading at 'Crains New York'
[ Crains New York | 2025-04-29 18:48:19 UTC ]
A historic Midtown building is up for auction after years of financial trouble.The Charles Scribner’s Sons Building, which opened in 1913, is set to be auctioned off Wednesday after it went into foreclosure late last year. The building is the former home of publisher Charles Scribner’s Sons’... Continue reading at Crains New York
[ Crains New York | 2025-04-29 18:48:19 UTC ]
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Amazon "oops sorry" all over indie bookstore day, a really scary proposed Texas law, and more of the day's book news. Continue reading at Book Riot
[ Book Riot | 2025-04-28 15:15:00 UTC ]
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Tomorrow, Saturday 4/26, is Independent Bookstore Day! And while every day can and should be Independent Bookstore Day (stop buying books from Amazon, stop linking to books on Amazon, stop posting the Amazon sales and the B&N sales on your social media), it’s nice that we have a dedicated... Continue reading at Literrary Hub
[ Literrary Hub | 2025-04-25 14:00:29 UTC ]
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Ginny Hogan on why we love to see the beauty and disappointment of toxic female friendships on the page and the screen. | Lit Hub Criticism Today on the Lit Hub podcast, we’re celebrating Indie Bookstore Day! | Lit Hub Radio Gabrielle Bellot reads Zoë Schlanger’s The Light Eaters and wonders if... Continue reading at Literrary Hub
[ Literrary Hub | 2025-04-25 10:30:33 UTC ]
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A weekly behind-the-scenes dive into everything interesting, dynamic, strange, and wonderful happening in literary culture—featuring Lit Hub staff, columnists, and special guests! Hosted by Drew Broussard. April is, as it turns out, a great month for book lovers: the first big wave of pre-summer... Continue reading at Literrary Hub
[ Literrary Hub | 2025-04-25 09:45:12 UTC ]
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The Gamilaroi journalist and presenter on fame, reconciliation and how studying at Oxford changed the way she thinks about people in powerOn a rudely gorgeous Sydney autumn day, Brooke Boney greets me with a warm hug. We’re meeting at the Botanic Gardens, resplendent with blue skies, a gentle... Continue reading at The Guardian
[ The Guardian | 2025-04-18 15:00:15 UTC ]
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The nominees for this year’s Bookstore and Sales Rep of the Year have much in common: dedication, experience, expertise, a focus on building community through books, and an abiding love of the written word. Continue reading at Publishers Weekly
[ Publishers Weekly | 2025-04-18 04:00:00 UTC ]
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This year’s award goes to the beloved Detroit shop whose octogenarian owner, Janet Webster Jones, is considered bookselling royalty. Continue reading at Publishers Weekly
[ Publishers Weekly | 2025-04-18 04:00:00 UTC ]
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Pulitzer Prize-winning newspaper columnist and acclaimed author Anna Quindlen has sold her longtime Upper West Side home after almost three decades, records show.Quindlen—whose novels include her first, 1991's Object Lessons, and her latest, 2024's After Annie—parted ways with the 5-story... Continue reading at Crains New York
[ Crains New York | 2025-04-17 09:30:00 UTC ]
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The Fort Worth, Tex., bookstore has grown from a 120-sq.-ft. space inside a gourmet products shop to a full-service store in the city’s cultural district. But don’t talk politics. Continue reading at Publishers Weekly
[ Publishers Weekly | 2025-04-17 04:00:00 UTC ]
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Within months after this Oakland, Calif., bookstore was destroyed by fire last year, owner Brad Johnson had a new shop opened and focused on his mission of fostering curiosity, compassion, and intelligent critical thought. Continue reading at Publishers Weekly
[ Publishers Weekly | 2025-04-16 04:00:00 UTC ]
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At the Bremerton, Wash.–based bookstore, community building is the top priority. Continue reading at Publishers Weekly
[ Publishers Weekly | 2025-04-14 04:00:00 UTC ]
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For the poet and author, a winning agenda includes bookstore shopping, a stroll along the Santa Monica Pier and "Bridgerton"-style afternoon tea at the Peninsula. Continue reading at Los Angeles Times
[ Los Angeles Times | 2025-04-11 10:00:21 UTC ]
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The Sharjah SPC Free Zone-based Ingram Lightning Source installation opens a collaboration with Saudi Arabia's Rushd Bookstore program. The post Ingram’s Lightning Source Sharjah Partners With Saudi Arabia’s Rushd appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2025-04-10 22:32:33 UTC ]
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The most popular bookstore in the world, an aspirational lifetime reading plan, and more of the day's top book news. Continue reading at Book Riot
[ Book Riot | 2025-03-18 18:30:00 UTC ]
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Union employees at Greenlight Bookstore in Brooklyn have ratified a new contract that guarantees annual pay raises and provides more benefits that are designed to reduce turnover and reward skills developed on the job. Continue reading at Publishers Weekly
[ Publishers Weekly | 2025-03-14 04:00:00 UTC ]
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Revenue rose 2.1% in the third quarter at B&NE, with the college bookstore turning a net loss last year into a profit in the most recent period. Still, long term profitability remains elusive. Continue reading at Publishers Weekly
[ Publishers Weekly | 2025-03-12 04:00:00 UTC ]
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The young woman—young, though nearly forty—stood with her head bent slightly toward the window of McNally Jackson bookstore on Prince Street. She had stopped mid-stride, was on her way somewhere—was, in fact, late—and to see her father’s image in a bookstore window was not anymore such a new... Continue reading at Literrary Hub
[ Literrary Hub | 2025-03-03 09:18:50 UTC ]
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