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 ]
Letter to Salma, by Yousef Khanfar Literary Tributes [email protected] Wed, 08/09/2023 - 15:14 In the following tribute, Yousef Khanfar pens a letter to the eminent scholar Salma Khadra Jayyusi, laureate of the 2021 Palestine Prize for Literature,... Continue reading at World Literature Today
[ World Literature Today | 2023-08-09 20:14:32 UTC ]
More news stories like this
With lists on cute cryptids, decolonial SFF, trans comics, and more, these indie bookstore websites are as fun to browse as their shelves! Continue reading at Book Riot
[ Book Riot | 2023-08-08 10:32:00 UTC ]
More news stories like this
A part of Arkansas' Act 372 would make it a crime for booksellers and librarians to give minors certain state-disapproved books. The post A US Court Temporarily Blocks a Library and Bookstore Law appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2023-07-31 00:15:55 UTC ]
More news stories like this
Finding a Good Story in Every Corner: A Conversation with José Eduardo Agualusa, by Anderson Tepper Interviews [email protected] Mon, 07/24/2023 - 15:01 © Rosa CunhaOver the past fifteen years, I’ve had the pleasure of crossing paths with the... Continue reading at World Literature Today
[ World Literature Today | 2023-07-24 20:01:34 UTC ]
More news stories like this
Barnes & Noble will reopen its bookstore at The Avenue at White Marsh in a redesigned format on July 26, the bookseller announced Wednesday. It's one of several changes and new stores planned for the center. Continue reading at Baltimore Sun
[ Baltimore Sun | 2023-07-19 17:11:00 UTC ]
More news stories like this
An Asian American-owned bookstore in Manhattan’s Chinatown left gutted by a July fourth fire is getting flooded with support from the community, writers and celebrities Continue reading at ABC News
[ ABC News | 2023-07-07 18:01:56 UTC ]
More news stories like this
Yu and Me Books opened in December 2021 on Mulberry Street in Manhattan’s Chinatown, and was named for owner Lucy Yu’s mother. It was the first Asian-American woman-owned bookstore on the island. Following a July 4, 2023, fire in a neighboring residential unit, the store has lost most of its... Continue reading at Literrary Hub
[ Literrary Hub | 2023-07-07 15:59:28 UTC ]
More news stories like this
The woman and Asian American–owned bookstore, in the Chinatown neighborhood in Manhattan, will require a total renovation over the next year due to a fire in a residential unit above its premises. It topped its goal of $150,000 overnight. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-07-07 04:00:00 UTC ]
More news stories like this
Tattered Cover has named Brad Dempsey interim CEO of the Denver bookstore chain, replacing CFO Margie Keenan, who served as interim CEO after former CEO and co-owner Kwame Spearman left in April to start a political career. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-07-06 04:00:00 UTC ]
More news stories like this
NASCAR's Chicago street race during the holiday weekend shut down many businesses along the route, including Exile in Bookville, which sustained thousands of dollars in losses. Some of that loss was alleviated by a spike in online orders by customers wanting to support the store. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-07-05 04:00:00 UTC ]
More news stories like this
A new queer indie bookstore is splitting profits with LGBTQ authors and spreading queer joy and literacy with a rainbow book bus. Continue reading at Book Riot
[ Book Riot | 2023-06-20 10:40:00 UTC ]
More news stories like this
The third Barnes & Noble store to unionize, the bookstore workers voted 97% in favor of joining the Retail, Wholesale and Department Store Union, citing safety issues, substandard pay and lack of workplace structure. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-06-08 04:00:00 UTC ]
More news stories like this
Indigo Books & Music, Canada's dominant bookstore chain, announced founder Heather Reisman will retire in August; simultaneously, four board members resigned with one citing a loss of confidence in the board and mistreatment. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-06-08 04:00:00 UTC ]
More news stories like this
Today in good news, the American Booksellers Association announced that membership is at its highest level in 20 years. Per reporting by Hillel Italie at the Associated Press: The ABA added 173 members last year, and now has 2,185 bookstore businesses and 2,599 locations. Three years after the... Continue reading at Literrary Hub
[ Literrary Hub | 2023-05-22 15:55:36 UTC ]
More news stories like this
In a virtual awards show, 'PW' editorial director Jim Milliot named Midtown Scholar in Harrisburg, Pa., the Bookstore of the Year and PRH's Emily Bates the Sales Rep of the Year. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-05-22 04:00:00 UTC ]
More news stories like this
Sara Hoerdeman, the American Academy of Pediatrics marketing manager for consumer products, didn’t just nominate Harvey’s Tales in Geneva, Ill., to be PW’s 2023 Bookstore of the Year: she wrote a 500-word love letter extolling the virtues of the five-year-old indie, located in an upscale suburb... Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-05-12 04:00:00 UTC ]
More news stories like this
Throughout 2023, the Midtown Scholar Bookstore is celebrating 20 years as a bricks-and-mortar destination in Harrisburg, Pa. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-05-12 04:00:00 UTC ]
More news stories like this
“Even though every atom in my body told me opening a shop would be an economic failure, I’d hoped it would save us.” Kelly McMasters on starting a bookstore to save her marriage. | Lit Hub Memoir 21 new books out today: Shakespeare! Eurovision! Revenge! | The Hub This month’s Lit Hub Asks: 5... Continue reading at Literrary Hub
[ Literrary Hub | 2023-05-09 10:30:21 UTC ]
More news stories like this
The first time I sliced open a box of books in my new bookshop, I breathed in deeply. The pulpy starch of the paper caught in the back of my throat, while the faint chemical sting of the new ink burned high in my nostrils. I imagined a world where this smell was a constant […] Continue reading at Literrary Hub
[ Literrary Hub | 2023-05-09 08:53:39 UTC ]
More news stories like this
The Internet is abuzz over a forthcoming nonfiction book, a 544-page memoir (including 40 full-color photographs) slated to be published by Flatiron on July 9th. Why? Because The Internet thinks it was probably written by Taylor Swift. It all started when the owner of indie bookshop Good... Continue reading at Literrary Hub
[ Literrary Hub | 2023-05-08 16:47:07 UTC ]
More news stories like this