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 ]
Big news for booksellers, or even aspiring booksellers: The Times Union has reported that Owl Pen Books, a bookstore nestled in the hills of Washington County, is for sale, along with its 40,000 titles. As perhaps hinted by its location, it’s not just any bookstore: it’s a remodeled hog pen and... Continue reading at Literrary Hub
[ Literrary Hub | 2021-08-20 17:01:40 UTC ]
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Bookstore sales skyrocketed 811% in June over a year ago, and finished the first half of 2021 with a 30% increase over the first six months of 2020. Continue reading at Publishers Weekly
[ Publishers Weekly | 2021-08-17 04:00:00 UTC ]
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A total of 39 employees at two locations of Greenlight Bookstore and one location of Yours Truly, Brooklyn, a stationery store, all located in Brooklyn, N.Y., have voted to join the Retail, Wholesale, and Department Store Union. Continue reading at Publishers Weekly
[ Publishers Weekly | 2021-08-17 04:00:00 UTC ]
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Industry Notes: In Mexico, seven independent publishers form an alliance, and Spain's Liber program honors the 100-year-old Balmes bookstore. The post Industry Notes: Guadalajara Publishers and Bookstore Honors in Barcelona appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2021-08-13 20:06:29 UTC ]
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How do you make a book about bookstores even better? With a little romance, of course! Prepare to swoon over these bookstore romances, including Meet Cute Club by Jack Harbon. Continue reading at Book Riot
[ Book Riot | 2021-08-11 10:36:00 UTC ]
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A “kitchen anthropologist,” he created a mecca in Manhattan for chefs, writers, scholars, everyday cooks and anyone else who is, well, hungry for culinary knowledge. Continue reading at The New York Times
[ The New York Times | 2021-08-08 00:23:01 UTC ]
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After working a used bookstore for many years, I picked up some strange habits that I just can't seem to shake. Here are 5 of them. Continue reading at Book Riot
[ Book Riot | 2021-08-06 10:33:00 UTC ]
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Before Covid, A Good Used Book was a pop-up bookshop thriving across L.A. It's back to physical business this month — at the end of a long, hard road. Continue reading at Los Angeles Times
[ Los Angeles Times | 2021-08-05 13:00:28 UTC ]
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Well, this is kind of heartwarming. A full quarter-century after shuttering his old store in Bloomington, Indiana, Rick Morgenstern has opened what suddenly becomes the state’s largest independent bookstore. The reboot of the eponymous store has been in the works for years and is reopening in a... Continue reading at Literrary Hub
[ Literrary Hub | 2021-07-28 18:29:10 UTC ]
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The California Independent Booksellers Alliance announced that Ann Seaton, CALIBA’s former director of operations and Kristin Rasmussen, general manager of {pages} a bookstore in Manhattan Beach, have been appointed coexecutive directors of the association. Continue reading at Publishers Weekly
[ Publishers Weekly | 2021-07-26 04:00:00 UTC ]
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After four moves and 43 years as a hub for children’s books and visits by local and nationally renowned authors, The Children’s Bookstore is closing. Continue reading at Baltimore Sun
[ Baltimore Sun | 2021-07-23 20:26:06 UTC ]
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One avid reader on why being taken to the bookstore is way more anxiety-producing than it is enjoyable. Continue reading at Book Riot
[ Book Riot | 2021-07-20 10:32:00 UTC ]
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An emergency fund has been opened to get quick aid to West London's Saqi Books, a publisher and bookstore reporting severe flood damage. The post Saqi Books in London Hit by Monday’s Flash Flooding appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2021-07-13 19:52:32 UTC ]
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The Homer Bookstore is the oldest continually operating bookstore in Alaska, and one of the few places to buy new books within several hundred miles. Continue reading at Publishers Weekly
[ Publishers Weekly | 2021-06-25 04:00:00 UTC ]
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As you may recall, right around St. Patrick’s Day in 2020, pretty much every bookstore on earth suspended all in-person author events indefinitely. Since then, book people like us have been cut off from meeting our favorite authors and have had to settle for watching glitchy versions of them on... Continue reading at Literrary Hub
[ Literrary Hub | 2021-06-17 08:49:48 UTC ]
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Fiction Photo by Peter Boccia / Unsplash After renting a room in an Indian family’s house in England, the Croatian tenant becomes privy to one member’s dreams of return. “This is it!” Parvati, a young Indian woman, shows me a tiny room with... Continue reading at World Literature Today
[ World Literature Today | 2021-06-07 20:25:08 UTC ]
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The century-old Drama Book Shop in Manhattan struggled for years. Then “Hamilton” happened. Continue reading at The New York Times
[ The New York Times | 2021-06-07 15:11:17 UTC ]
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Experience a day in the life of an indie bookseller, working at Bosch&deJong boekverkopers, a small bookstore in Rotterdam, Netherlands. Continue reading at Book Riot
[ Book Riot | 2021-06-01 10:35:00 UTC ]
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Samir Mansour's bookstore was a cultural magnet for residents of the Gaza Strip until an Israeli airstrike leveled it. Now he has to start over. Continue reading at Los Angeles Times
[ Los Angeles Times | 2021-06-01 08:00:49 UTC ]
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Publishers Weekly has named the L.A.-based indie bookstore Eso Won Books its Bookstore of the Year, and Simon & Schuster sales rep Toi Crockett has been named PW Sales Rep of the Year. The announcement was made at the inaugural U.S. Book Show. Continue reading at Publishers Weekly
[ Publishers Weekly | 2021-05-25 04:00:00 UTC ]
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