The $360 million mortgage for Goldman Sachs’ former headquarters at 85 Broad St. is a “loan of concern,” Fitch Ratings said.Goldman developed the 1.1 million-square-foot building in 1983 to house its entire workforce of 1,500 before moving out in 2010 for new headquarters on West Street. Only two years after development, the firm sold the tower for $310 million to MetLife, which in 2014 sold a piece to Beacon Capital Partners and the co-owners upgraded the 30-story building described as an “ungainly bulk” by the "AIA Guide to New York City."The owners spent $36 million on renovations, which paid off when WeWork agreed in 2015 to lease 300,000 square feet, or approximately eight floors, through 2033. The up-and-coming office coworking firm paid $46 a square foot, which was 17% below market rate. Others moved in, including Nielsen Holdings and Vox Media, owner of New York magazine and The Verge. In 2017, 85 Broad was acquired for $650 million by Ivanhoé Cambridge, a subsidiary of Canadian pension fund Caisse de dépôt et placement du Québec.85 Broad was 20% vacant at the end of last year, better than some Financial District buildings but a big change from its prepandemic 6%. Fitch said in a report last month that mortgage investors face a 12% loss, or $43 million over the entire loan. “The loan was flagged as a loan concern due to exposure to WeWork,” Fitch said.Around the time WeWork emerged from bankruptcy this spring it had moved out of 120,000 square feet, or three... Continue reading at 'Crains New York'
[ Crains New York | 2024-07-11 17:49:07 UTC ]
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The $360 million mortgage for Goldman Sachs’ former headquarters at 85 Broad St. is a “loan of concern,” Fitch Ratings said.Goldman developed the 1.1 million-square-foot building in 1983 to house its entire workforce of 1,500 before moving out in 2010 for new headquarters on West Street. Only... Continue reading at Crains New York
[ Crains New York | 2024-07-11 17:49:07 UTC ]
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The digital media company has raised eyebrows for its claims about its audience size for years. Then came the strange voice on the phone. Continue reading at The New York Times
[ The New York Times | 2021-09-27 02:20:46 UTC ]
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New York-based OR Books is publishing a collection of Hillary Clinton’s speeches, released by Wikileaks last month, despite not having permission from the presidential candidate. Continue reading at The Bookseller
[ The Bookseller | 2016-11-03 00:00:00 UTC ]
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It was recently revealed that former banker John Lefevre, who lives in Texas and does not work for Goldman Sachs, was behind the popular Twitter account. Publisher Simon & Schuster said at first it would still publish Lefevre's book but now says the deal has canceled. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2014-03-08 00:00:00 UTC ]
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After initially standing by its author, Touchstone has announced the cancellation of John Lefevre's "Straight to Hell," the book based on the parody Twitter handle @GSElevator. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-03-06 00:00:00 UTC ]
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The anonymous figure behind the Twitter handle is reported to be releasing a book titled 'Straight to Hell: True Tales of Deviance and Excess in the World of Investment Banking' this October. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2014-01-23 00:00:00 UTC ]
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Goldman Sachs employee Greg Smith's 'Why I Left Goldman Sachs' drew strong response as an op-ed in The New York Times, but is garnering negative reviews as a memoir. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2012-10-23 00:00:00 UTC ]
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Written By: Charlotte Williams Publication Date: Tue, 30/08/2011 - 15:15 Penguin business imprint Portfolio has acquired a title by Goldman Sachs Asset Management chairman Jim O'Neill. World rights to The Growth Map was acquired jointly by Portfolio UK editorial director Joel Rickett and... Continue reading at The Bookseller
[ The Bookseller | 2011-08-30 00:00:00 UTC ]
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RFR Holding is more than 90 days delinquent on the mortgage for 90 Fifth Ave., according to Fitch Ratings, the latest sign of mounting strain for the developer fighting eviction from the Chrysler Building.The 140,000 square-foot building at the corner of West 14th Street is a small part of RFR’s... Continue reading at Crains New York
[ Crains New York | 2024-10-25 17:48:58 UTC ]
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Boston Properties has signed a new tenant to 360 Park Ave. South, a handsome but mostly vacant building whose co-owner sold its stake back to the developer earlier this year for $1.Ziff Davis agreed to relocate to corporate headquarters from 114 Fifth Ave. to the 20-story building at East 26th... Continue reading at Crains New York
[ Crains New York | 2024-06-18 16:59:09 UTC ]
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The owners of 60 Wall St. yesterday announced they refinanced the office tower’s $575 million mortgage at a substantially higher interest rate, paving the way for redevelopment of the empty building with a distinctive public lobby.“60 Wall will be redeveloped to today’s standards and will... Continue reading at Crains New York
[ Crains New York | 2024-05-02 17:53:38 UTC ]
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Updated terms of service for Spotifiy's indie author audiobook distribution platform Findaway Voices appeared to give Spotify broad powers to reuse content. An outcry forced a revision of terms, but clarification is still needed, say authors and affiliates. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-02-28 05:00:00 UTC ]
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Leaked emails reveal organisers of leading science fiction and fantasy awards flagged works of a ‘sensitive political nature’Leaked emails from the organisers of the prestigious Hugo awards for science fiction and fantasy suggest several authors were excluded from shortlists last year after they... Continue reading at The Guardian
[ The Guardian | 2024-02-15 18:16:42 UTC ]
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Publishing executives shared their honest and unfettered opinions on the rise of generative artificial intelligence technology and its impact on traffic, IP protections, content production and jobs at the Digiday Publishing Summit last week. Continue reading at Digiday
[ Digiday | 2023-09-25 04:01:00 UTC ]
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The company announced the new limitations after an influx of suspected AI-generated material was listed for sale but said that ‘very few’ publishers will be affectedAmazon has created a new rule limiting the number of books that authors can self-publish on its site to three a day, after an... Continue reading at The Guardian
[ The Guardian | 2023-09-20 16:22:58 UTC ]
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A decision by the e-tailer, to stop importing books from U.S. publishers that are destined to be sold in its stores in Europe in favor of sourcing them locally, is leading to higher costs and lost sales, publishers contend. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-07-12 04:00:00 UTC ]
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The outdoor gear company’s new headquarters adds visibility to its workspaces and its work. For an outdoor clothing and gear company, L.L. Bean’s offices were surprisingly cloistered. “About 90% of our employees did not have access to natural daylight. There were parts of the building that were... Continue reading at Fast Company
[ Fast Company | 2023-06-14 04:30:00 UTC ]
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The stock price of Chegg, the online learning platform for university students, fell 48% Tuesday, after its CEO reported that a spike in interest by students in ChatGPT resulted in lower than expected results in the first quarter. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-05-03 04:00:00 UTC ]
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The Guild led a coalition of creative groups who spent a week lobbying lawmakers for legal guardrails against generative artificial intelligence programs and educating them on potential harms posed by such programs on literary and creative industries. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-04-05 04:00:00 UTC ]
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Kotopia's Ahmed Mahmoud Ibrahim, the International Publishers Association says, was detained in Riyadh in October. The post IPA States Its Concern for a Missing Egyptian Publisher appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2023-01-25 07:15:19 UTC ]
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