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 ]
Semicolon—a vibrant new bookstore, community space, and gallery for Chicago’s street art scene—opened its doors on Tuesday with a party and mural unveiling. The store is just one of a handful of woman-owned bookstores in Chicago and its only bookstore owned by a black woman. An author... Continue reading at Literrary Hub
[ Literrary Hub | 2019-07-12 15:33:15 UTC ]
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In a popular trope present most often in YA novels, a character finds a secret key to another world. The key is rarely literal. More often, it’s an action as banal and everyday as leaning against a train platform barrier, walking into a phone booth, or looking for a winter coat in the back of... Continue reading at Electric Literature
[ Electric Literature | 2019-07-12 11:02:44 UTC ]
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For years, I had been hearing about a secret bookstore on the Upper East Side, run by the owner out of his apartment. I thought that you could show up only in the company of a regular attendee. (I would later learn that this was not true, that Michael was, as he liked to say […] Continue reading at Literrary Hub
[ Literrary Hub | 2019-07-09 20:01:37 UTC ]
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Awesome daily roundup of the most interesting bookish links from around the web. Continue reading at Book Riot
[ Book Riot | 2019-07-09 10:30:07 UTC ]
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Michael Seidenberg, the beloved owner of New York City's Brazenhead Books, has died. In his later years, Seidenberg ran the bookstore out of his apartment, attracting the city's literati and bookworms. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-07-09 04:00:00 UTC ]
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Since its launch 25 years ago, Amazon's reach has extended well beyond an online bookstore. And while it may seem obvious today, at the time Jeff Bezos was working to get his idea to the masses, many investors thought it would be no match for bookstore giants like Borders and Barnes &... Continue reading at Silicon Valley Business Journal
[ Silicon Valley Business Journal | 2019-07-08 11:14:14 UTC ]
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Since its launch 25 years ago, Amazon's reach has extended well beyond an online bookstore. And while it may seem obvious today, at the time Jeff Bezos was working to get his idea to the masses, many investors thought it would be no match for bookstore giants like Borders and Barnes and... Continue reading at Silicon Valley Business Journal
[ Silicon Valley Business Journal | 2019-07-08 10:53:45 UTC ]
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Since its launch 25 years ago, Amazon's reach has extended well beyond an online bookstore. And while it may seem obvious today, at the time Jeff Bezos was working to get his idea to the masses, many investors thought it would be no match for bookstore giants like Borders and Barnes and... Continue reading at Silicon Valley Business Journal
[ Silicon Valley Business Journal | 2019-07-08 10:00:00 UTC ]
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EVERY YEAR, IT SEEMS, we receive a new diagnosis regarding the viability of books in the digital age: print is dead, print is back, the bookstore is dead, bookstores are back. The nostalgia for and anxiety about print is often reactive, hinting at other anxieties about feeling lonely and... Continue reading at Los Angeles Review of Books
[ Los Angeles Review of Books | 2019-07-06 19:00:22 UTC ]
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Since its launch 25 years ago, Amazon's reach has extended well beyond an online bookstore. And while it may seem obvious today, at the time Jeff Bezos was working to get his idea to the masses, many investors thought it would be no match for bookstore giants like Borders and Barnes and... Continue reading at Silicon Valley Business Journal
[ Silicon Valley Business Journal | 2019-07-05 17:38:09 UTC ]
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A Rioter not only got to visit the romance bookstore of her dreams, L.A.'s The Ripped Bodice, but also got a slew of recommendations from a co-owner! Continue reading at Book Riot
[ Book Riot | 2019-07-02 10:36:13 UTC ]
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A Wisconsin indie has launched a fundraising campaign to benefit for RAICES, an organization that aids immigrants detained at the U.S. border. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-07-01 04:00:00 UTC ]
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What to do while you wait for Netflix’s Sarah Dessen Adaptations: Obviously, get thee to a bookstore and read her ... Continue reading at Book Riot
[ Book Riot | 2019-06-29 10:31:00 UTC ]
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Book Culture, based in the same Queens neighborhood where Amazon wanted to set up shop, says it will be forced to close if the city or state doesn’t offer assistance. In New York City’s Long Island City neighborhood, down the road from where Amazon tried (and failed) to build a “second... Continue reading at Fast Company
[ Fast Company | 2019-06-26 15:56:45 UTC ]
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Special Counsel Robert S. Mueller III’s report on Russian interference in the 2016 U.S. presidential election has become something of a publishing phenomenon, with several book versions of the report flying off bookstore shelves. Now a San Diego publisher is planning to release a version of... Continue reading at Los Angeles Times
[ Los Angeles Times | 2019-06-24 19:00:00 UTC ]
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Popular novels, technical tomes and self-published books are pirated and sold on Amazon. That may actually be helping the company extend its grip on the book business. Continue reading at The New York Times
[ The New York Times | 2019-06-23 21:06:40 UTC ]
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No stranger to the unconventional, REI is at it again: The outdoors retailer is discontinuing its print mail-order catalog and debuting a magazine. Called Uncommon Path, the print publication will run on a quarterly basis and include stories focused on the outdoors. Kent, Washington-based REI... Continue reading at Advertising Age
[ Advertising Age | 2019-06-20 19:50:29 UTC ]
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The building that's home to the famous Strand Bookstore in the East Village was designated a city landmark Tuesday despite warnings from the property's and store's owner that the status could... To view the full story, click the title link. Continue reading at Crains New York
[ Crains New York | 2019-06-12 12:57:30 UTC ]
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The pilot killed when his helicopter of a Midtown skyscraper in rain and fog radioed that he was lost and trying to get back to the heliport but couldn't find it, an official briefed on the... To view the full story, click the title link. Continue reading at Crains New York
[ Crains New York | 2019-06-12 11:09:48 UTC ]
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The New York City Landmarks Preservation Commission voted to landmark 826 Broadway, the building that houses the Strand Bookstore—a decision the owner says will be costly to the store. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-06-12 04:00:00 UTC ]
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