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 Ubik bookstore in Syracuse's Ortigia district has reopened under new management ahead of Italy 's guest of honor turn at Frankfurt. The post Italy: A New Ubik Bookstore on Sicily’s Island of Ortigia appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2024-08-07 15:14:55 UTC ]
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London's Spiracle co-publishes independent houses' audiobooks and sells them to bookstore consumers using in-store cards with QR codes. The post UK: Spiracle Opens ‘Audiobook in a Card’ for Bookstores appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2024-08-05 18:30:21 UTC ]
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“People feel differently about their bookstore than they do about their grocery store or electronics store,” writes Evan Friss, in praise of a retail ritual battered by the internet. Continue reading at The New York Times
[ The New York Times | 2024-08-04 09:00:54 UTC ]
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The inaugural Inside Prize has named its first recipient—the author Imani Perry. The new book award is “a collaborative project of Freedom Reads, the National Book Foundation, Center for Justice Innovation and Dallas bookstore owner Lori Feathers.” And in a novel move, all the prize judges are... Continue reading at Literrary Hub
[ Literrary Hub | 2024-08-02 17:05:17 UTC ]
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What do you think of Barnes & Noble's plans surrounding the future of the Tattered Cover? Continue reading at Book Riot
[ Book Riot | 2024-07-31 18:23:52 UTC ]
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“Examine Every Atom”: The Capacious Career of Poet, Editor, and Critic T. R. Hummer, by Chard deNiord Interviews [email protected] Wed, 07/31/2024 - 08:31 Right photo by formulanone / FlickrT. R. Hummer, as he is known professionally but Terry to... Continue reading at World Literature Today
[ World Literature Today | 2024-07-31 13:31:02 UTC ]
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Last week, shortly after the announcement that JD Vance would be joining the Republican ticket, I was working my bookstore gig at The Golden Notebook when a woman came in and asked me if we had any copies of Hillbilly Elegy. I took a glance at the inventory, told her we did not, and started to […] Continue reading at Literrary Hub
[ Literrary Hub | 2024-07-25 18:51:59 UTC ]
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Always Here Bookstore, a pop-up in Portland, Ore., aims to be a literary oasis for queer, trans, Latinx, and neurodivergent people of all ages. While they search for a bricks-and-mortar home, co-owners Rafael Hart and John Hart want Always Here to be a go-to source for books with LGBTQ authors... Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-07-17 04:00:00 UTC ]
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A bestselling author takes on the bots, Penguin Random House acquires a comics publisher, an epic bookstore roadtrip, and more. Continue reading at Book Riot
[ Book Riot | 2024-07-11 15:00:00 UTC ]
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The Oklahoma-based arts-and-crafts retailer known for its ownership's conservative political leanings is coming soon to Manhattan.Hobby Lobby, which opened its first chain in the city on Staten Island in March, has now signed one of the largest leases in Manhattan so far this year, inking a deal... Continue reading at Crains New York
[ Crains New York | 2024-07-09 09:48:05 UTC ]
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Who hasn't wanted to run away to open a bookstore + tea shop and live a comfortable little life? Continue reading at Book Riot
[ Book Riot | 2024-07-08 15:45:00 UTC ]
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Data from Placer.ai shows that, while both bookstore chains have had some successes in increasing customer traffic, their gains in 2024 trail that of Barnes & Noble. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-07-08 04:00:00 UTC ]
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The bestselling books of the week, the indie bookstore shipping LGBTQ titles to states where they're banned, and more. Continue reading at Book Riot
[ Book Riot | 2024-07-06 15:00:00 UTC ]
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The college bookstore operator closed the fiscal year ended April 27, 2024, with a smaller loss than fiscal 2023, new financing, a new CEO, and a new board. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-07-02 04:00:00 UTC ]
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A woman accidentally buys a bookstore apparently, Libro at 10, cool library spaces are all in today's most interesting book news. Continue reading at Book Riot
[ Book Riot | 2024-06-20 17:06:13 UTC ]
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The Womb House Books bricks-and-mortar store, which opened on June 15, features the carefully curated, women-focused vintage titles that are the Etsy shop's bread and butter, with the addition of frontlist books. Owner Jessica Ferris is doing it all on her own—and loving every minute. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-06-20 04:00:00 UTC ]
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Amid growing efforts to censor and ban LGBTQ+ books, one small bookstore in San Francisco is punching back. Continue reading at Los Angeles Times
[ Los Angeles Times | 2024-06-19 10:00:54 UTC ]
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Following months of uncertainty, B&N will buy the bankrupt but beloved Denver bookstore chain. The four remaining Tattered Cover locations will continue to operate under that name. B&N anticipates that it will retain a majority of the company's 70 employees. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-06-18 04:00:00 UTC ]
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I was celebrating the release of my third middle grade novel, The Truth About Triangles, at a recent bookstore event when someone asked me, “How does it feels to write LGBTQ+ stories for young people?” I paused, overwhelmed by the tangle of words this question brought up. But one word stood out.... Continue reading at Literrary Hub
[ Literrary Hub | 2024-06-17 08:55:17 UTC ]
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The Brooklyn book collector with 50,000 books at home, a first look at the new Lord of the Rings movie, and more. Continue reading at Book Riot
[ Book Riot | 2024-06-13 15:00:00 UTC ]
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