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 ]
Alexandra Clancy, the widow of best-selling author Tom Clancy of The Hunt for Red October and other classic spy novels, has something to show for a hunt of her own.Clancy has purchased a 6,300-square-foot penthouse on Leonard Street in Tribeca for $20.9 million, according to a deed that appeared... Continue reading at Crains New York
[ Crains New York | 2025-06-16 22:01:42 UTC ]
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An NBA owner is angling for a big flip on the High Line.Wes Edens, who has co-owned the Milwaukee Bucks for more than a decade, has listed his triplex penthouse condo on West 28th Street for a hefty $35 million, according to an ad that appeared Thursday.The billionaire ex-Wall Street executive... Continue reading at Crains New York
[ Crains New York | 2025-06-06 17:20:18 UTC ]
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The e-commerce giant has been criticized over its stewardship of Goodreads since it bought the platform in 2013, fueling the rise of competitors. Amazon famously started as an online bookstore. In the three decades since, it has disrupted how people buy, read, and review books through steps... Continue reading at Fast Company
[ Fast Company | 2025-06-06 13:34:00 UTC ]
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Employees of the Brooklyn bookstore and literary hub have won voluntary union recognition from management and will begin contract negotiations in the coming weeks, joining the growing number of booksellers organized under the Retail, Wholesale and Department Store Union. Continue reading at Publishers Weekly
[ Publishers Weekly | 2025-06-03 04:00:00 UTC ]
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More Than Words is a bookstore, but one that does more than sell $3.8 million worth of merchandise a year. It serves young people who are dealing with homelessness or legal challenges and gives them a place where they belong. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2025-06-02 20:42:21 UTC ]
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Life-ruining books, demon possession through social media, the bookstore at the end of the world, and more of today's best book deals. Continue reading at Book Riot
[ Book Riot | 2025-05-30 14:45:00 UTC ]
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Shakespeare & Co. will transfer ownership of its last New York storefront, located on the Upper West Side, to Strand Book Store on June 1, marking the end of an era for the beloved bookseller. Continue reading at Publishers Weekly
[ Publishers Weekly | 2025-05-19 04:00:00 UTC ]
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John Griffin, the founder of former hedge fund Blue Ridge Capital, which had $9 billion in assets at its 2013 peak and $6 billion when it wound down four years later, is looking for a nice return on an Upper East Side home.Griffin has listed a nearly 6,000-square-foot full-floor co-op on Fifth... Continue reading at Crains New York
[ Crains New York | 2025-05-16 20:26:17 UTC ]
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A supermajority of staff at Brooklyn’s Center for Fiction have filed with the Retail, Wholesale and Department Store Union and requested recognition from the nonprofit bookseller. A growing number of New York City bookstore employees have joined the RWDSU in recent years. Continue reading at Publishers Weekly
[ Publishers Weekly | 2025-05-16 04:00:00 UTC ]
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William Stout bookstore is a legendary home to design and architecture books. Now, it’s revealing an updated brand courtesy of Jony Ive’s firm LoveFrom. Since 1974, William Stout Architectural Books in San Francisco’s Jackson Square has been one of the city’s most iconic destinations for its... Continue reading at Fast Company
[ Fast Company | 2025-05-09 13:00:00 UTC ]
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In 1987, I got a job at the famous Strand bookstore in Union Square. My ska band, the Boilers, rehearsed down the block at a place called Giant Studios, and I stopped in the Strand one day with every intention to steal a book but instead decided to ask if any positions were open. Every […] Continue reading at Literrary Hub
[ Literrary Hub | 2025-05-09 08:58:29 UTC ]
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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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