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 ]
The owner of the Strand Bookstore plans to sue the city to fight a landmark designation applied to the property over the owner's opposition. An attorney for store owner Nancy Bass Wyden told... To view the full story, click the title link. Continue reading at Crains New York
[ Crains New York | 2019-09-24 13:47:21 UTC ]
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New Barnes & Noble CEO James Daunt gets to work on rejuvenating America’s largest bookstore retailer. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-09-20 04:00:00 UTC ]
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Visiting an author’s book launch at a colleague’s bookstore is a delightful adventure. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-09-18 12:00:48 UTC ]
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Well, today is the day you’ve all been waiting for: Margaret Atwood’s hotly hyped, closely guarded, imperfectly embargoed, Booker-shortlisted The Testaments is on the bookstore shelves. For the superfans among you, we’ve collected a selection of photographs of Atwood below, from childhood to the... Continue reading at Literrary Hub
[ Literrary Hub | 2019-09-10 08:49:55 UTC ]
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Given the savagery with which New England Patriots dispatched the Pittsburgh Steelers, NBC executives would have been forgiven for thinking that last night’s “Sunday Night Football” opener would disappoint on the ratings front. And while viewers began tuning out once Tom Brady and Co. had... Continue reading at Advertising Age
[ Advertising Age | 2019-09-09 22:50:19 UTC ]
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Citing 37 percent of revenue from frontlist titles, 63 bookstore companies with 80 locations respond to BookNet Canada's new report. The post BookNet Canada’s First ‘State of Independent Bookselling’ Report: Print Revenue up appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2019-09-09 20:54:40 UTC ]
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Citing 37 percent of revenue from frontlist titles, 63 bookstore companies with 80 locations respond to BookNet Canada’s new report. By Porter Anderson, Editor-in-Chief | @Porter_Anderson Non-Book Merchandise: 16 Percent of Revenue or partisans of print and brick-and-mortar bookstores, the... Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2019-09-09 20:54:40 UTC ]
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Back in May, I signed an embargo agreement on behalf of my bookstore stating that I would “ensure that [The Testaments by Margaret Atwood] is stored in a monitored and locked, secured area and not placed on the selling floor prior to the on-sale date.” The idea behind such agreements is that... Continue reading at Electric Literature
[ Electric Literature | 2019-09-06 11:00:49 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 | 2019-09-05 10:30:57 UTC ]
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Christian Product Expo, presented by the Munce Marketing Group and the Christian Retailer Association (CRA), brought nearly 800 bookstore owners and publishing representatives together in Murfreesboro, Tenn., from Aug. 25-27. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-08-28 04:00:00 UTC ]
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At China's Asian Bookstore Forum in Xi'an, researchers cited a sharp shift, book sales moving quickly away from physical stores and over to online retail. The post Asian Bookstore Forum 2019: The Retail Context in China Today appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2019-08-23 05:30:19 UTC ]
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A little additional advice to self-published authors on maintaining successful relationships with indie booksellers. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-08-19 12:00:51 UTC ]
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I own a 19-year-old copy of Vladimir Nabokov’s Invitation to a Beheading. I place its age from the barcode on its back, which states the name of the bookstore where I bought it: Borders.The one that used to sit on the ground floor of the World Trade Center, the one I’d been to multiple times […] Continue reading at Literrary Hub
[ Literrary Hub | 2019-08-19 08:50:43 UTC ]
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At a shop that at times functioned as a sanctuary after the Tree of Life shooting, the owner sees his job as “a moral obligation.” Continue reading at The New York Times
[ The New York Times | 2019-08-18 09:00:09 UTC ]
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For a second year, the Hay Festival works with a Dallas bookstore to stage a smaller event parallel to the Hay's Mexico festival at Querétaro. The post Hay ‘Forum’ Dallas Programming Announced for September appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2019-08-14 05:50:28 UTC ]
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Forget Coors Light versus Bud Light. The most compelling alcohol brand battle this summer is Truly against White Claw, the two dominant brands in the sizzling-hot alcoholic seltzer category. Neither is owned by brewing behemoths Anheuser-Busch InBev or MillerCoors, which have struggled to... Continue reading at Advertising Age
[ Advertising Age | 2019-08-12 08:00:00 UTC ]
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James Daunt fought Amazon and rescued the country’s biggest bookstore chain. Now comes Chapter 2. Continue reading at The New York Times
[ The New York Times | 2019-08-08 10:00:05 UTC ]
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Punny cozy mystery titles have always been among the most fun on bookstore and library shelves. Here are twelve new cozies with puns to make you laugh. Continue reading at Book Riot
[ Book Riot | 2019-08-07 10:38:11 UTC ]
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Enter to win a $100 gift card to spend at The Ripped Bodice, the only romance-exclusive bookstore in the United States! Continue reading at Book Riot
[ Book Riot | 2019-08-01 10:31:56 UTC ]
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Before it was an agency, Imprint Projects was a bookstore founded by art curators and exhibition programmers Adam Katz, Dina Pugh and David Kramer. The chops they honed in those positions working across culture and retail formed the roots of what’s now a full-service creative shop that... Continue reading at Advertising Age
[ Advertising Age | 2019-08-01 02:15:00 UTC ]
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