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 ]
Take a tour of an independent bookstore and community hub, Book Revue, the largest independent bookstore on Long Island. Continue reading at Book Riot
[ Book Riot | 2020-09-23 10:38:00 UTC ]
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Australia has spoken, and J.K. Rowling is out. Rabble Books & Games in Maylands, Australia, said earlier this week that the store would stop stocking her books due to this, this, or this, all of which, it’s not so wild to presume, have already impacted her book sales. “We are always trying... Continue reading at Literrary Hub
[ Literrary Hub | 2020-09-17 19:06:37 UTC ]
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Beloved L.A. bookstores like Diesel are turning to fundraising platforms to survive the financial blows dealt by COVID-19. Continue reading at Los Angeles Times
[ Los Angeles Times | 2020-09-14 20:54:38 UTC ]
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Ahead of a Chevalier's bookstore talk with Bradley Whitford, the "Handmaid's Tale" author talks about Ann Dowd, Zoom-worthy tops, dystopia and elections. Continue reading at Los Angeles Times
[ Los Angeles Times | 2020-09-14 14:00:45 UTC ]
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No single event has wiped out more bookselling jobs in the modern era than the Covid-19 pandemic. Few booksellers have any job protections—that is, unless they have a union. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-09-11 04:00:00 UTC ]
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The Barnes and Noble bookstore at 601 E. Pratt St. at Baltimore's Inner Harbor will close Saturday, according to a sign posted at the location. Continue reading at Baltimore Sun
[ Baltimore Sun | 2020-08-25 17:48:42 UTC ]
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A look back at the history of the 100-year-old Shakespeare and Company bookstore in Paris. Continue reading at Book Riot
[ Book Riot | 2020-08-21 10:37:00 UTC ]
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Timing is everything, but during the pandemic, it largely hasn’t been on the side of businesses. So I was recently surprised to see The Strand, whose iconic storefront in Union Square attracts thousands of visitors a year, opening a new branch in my neighborhood last month—and in a space where,... Continue reading at Literrary Hub
[ Literrary Hub | 2020-08-12 19:56:27 UTC ]
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Beloved NYC bookstore Bluestockings—long a fixture on the Lower East Side—has found a new home. This will come as a relief to downtown book-lovers who worried the iconic feminist bookstore was closing for good due to both pandemic woes and the threat of increased rent (in a pandemic 😬). After a... Continue reading at Literrary Hub
[ Literrary Hub | 2020-08-10 15:01:45 UTC ]
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A Hong Kong bookseller has recreated his shop in Taipei, and it has become a symbol of Taiwan’s vibrant democracy. Continue reading at The New York Times
[ The New York Times | 2020-08-09 07:00:10 UTC ]
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Yesterday I stopped in at my local bookstore in London. It’s a small shop, but a good one, and seeing its doors open again was like hearing an ice-cream truck from a block away as a kid. I walked straight into traffic to cross the street to get there. Inside the reality of our time […] Continue reading at Literrary Hub
[ Literrary Hub | 2020-08-06 08:49:19 UTC ]
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I know that fingers can’t “plod,” but that is what they are doing now, delivering upsetting news that encapsulates this shitty year. As Hong Kong teeters on the edge of a serious coronavirus outbreak and democratic institutions continue losing a war of attrition with the Chinese government, the... Continue reading at Literrary Hub
[ Literrary Hub | 2020-07-29 18:53:00 UTC ]
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As a child, Asha Grant didn't know where to find books about people who looked like her. Next year she'll open that place, the Salt Eaters, in Inglewood. Continue reading at Los Angeles Times
[ Los Angeles Times | 2020-07-23 14:00:39 UTC ]
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The owners of Greenlight Bookstore, which has two Brooklyn locations, came forward this week to take responsibility for “negative experiences of Black customers and employees in our stores” with a commitment to improving. In an open letter published Wednesday, co-owners Rebecca Fitting and... Continue reading at Literrary Hub
[ Literrary Hub | 2020-07-10 16:24:01 UTC ]
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No Exit Press will publish a prequel to F Scott Fitzgerald's The Great Gatsby by Michael Farris Smith in February 2021. Continue reading at The Bookseller
[ The Bookseller | 2020-07-09 10:27:55 UTC ]
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The following is excerpted from The Great Gatsby: The Graphic Novel. * __________________________________ From The Great Gatsby: The Graphic Novel by F. Scott Fitzgerald. Copyright © 1925 by Charles Scribner’s Sons. Copyright renewed 1953 by Frances Scott Fitzgerald Lanahan. Adapted Text and... Continue reading at Literrary Hub
[ Literrary Hub | 2020-07-09 08:47:44 UTC ]
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There’s no doubt COVID-19 has forever changed the world as we know it. A small slice of life that had to shift trajectory is the publishing industry. Debut authors are especially struggling as the books they have worked on for countless years are released into a world without in-person book... Continue reading at Electric Literature
[ Electric Literature | 2020-06-30 11:00:00 UTC ]
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It was my best case scenario. Not only did Edward Vaughn pick up the phone, but he was willing and eager to speak. At 85 years old, he had way more energy than me, 60 years his junior, when I called him earlier this week. (An unfortunate cocktail of technological failure and fanboyish... Continue reading at Literrary Hub
[ Literrary Hub | 2020-06-25 14:02:32 UTC ]
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The turmoil that roiled the National Book Critics Circle last week continued throughout the weekend and into Monday morning as concerns over matters of race and privacy continue to split the organization's board of directors. As of press time, at least 13 members have resigned from the typically... Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-06-15 04:00:00 UTC ]
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An awesome daily roundup of the most interesting bookish links from around the web. Continue reading at Book Riot
[ Book Riot | 2020-06-14 10:30:00 UTC ]
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