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 ]
AT&T is now part of Harry Potter lore as the first brand to ink a sponsorship deal with the new augmented reality game about the wizarding world. AT&T stores are incorporated into the landscape of the game, called “Harry Potter: Wizards Unite,” which is by Niantic, the creator of... Continue reading at Advertising Age
[ Advertising Age | 2019-06-21 21:00:51 UTC ]
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An astonishing 91% of right-leaning Americans have lost faith in the media, according to a study from the Reuters Institute of Digital News and the University of Oxford. Rasmus Kleis Nielsen from the Reuters Institute for the Study of Journalism explained some of the key findings of the report,... Continue reading at AdWeek
[ AdWeek | 2019-06-20 11:00:53 UTC ]
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YouTube has introduced augmented reality into videos, providing a canvas for beauty bloggers to play with virtual makeup while also opening a new route for brands to hawk their products. On Tuesday, Google, which owns YouTube, announced the new augmented-reality feature, which enables “virtual... Continue reading at Advertising Age
[ Advertising Age | 2019-06-19 21:35:54 UTC ]
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CANNES, France--If you want to rent a yacht for client meetings, branded events or just a good, old-fashioned party in Cannes, it'll set you back about a quarter of a million dollars this week. As Adweek's Ronan Shields reported that's a relative bargain. Nielsen is back with its yacht this... Continue reading at AdWeek
[ AdWeek | 2019-06-19 20:19:28 UTC ]
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Guardian research shows that the top 100 illustrated children’s books last year showed growing marginalisation of female and minority ethnic charactersThe most popular picture books published in 2018 collectively present a white and male-dominated world to children, feature very few BAME (black,... Continue reading at The Guardian
[ The Guardian | 2019-06-13 05:00:18 UTC ]
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American Booksellers Association CEO Oren Teicher addressed members at the organization's town hall and annual meeting at BookExpo, noting the ABA added 99 members last year and members increased profitability. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-05-30 04:00:00 UTC ]
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American Booksellers Association CEO Oren Teicher addressed members at the organization's town hall and annual meeting at BookExpo, noting the ABA added 99 members last year and members increased profitability. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-05-30 04:00:00 UTC ]
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People of Color In Publishing and We Need Diverse Books teamed up for a town hall this month that shows how far publishing has come regarding diversity—and how much further it needs to go. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-04-19 00:00:00 UTC ]
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Welcome to the latest edition of Ad Age Publisher’s Brief, our roundup of news from the world of content producers across digital and print. Got a tip? Send it our way. Joining us late? Here's the previous edition. Notre Drame: Monday’s devastating fire at Notre-Dame de Paris—or just Notre Dame... Continue reading at Advertising Age
[ Advertising Age | 2019-04-17 00:00:00 UTC ]
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Amid a daylong series of author readings, educational sessions, and a town hall, NEIBA attendees heard updates on the latest bookstore financials, the progress on ABA's pre-order campaign, and how the installation of Batch is proceeding. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-04-05 00:00:00 UTC ]
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E L James will appear at Chelsea Old Town Hall to celebrate the publication of her upcoming novel The Mister. Continue reading at The Bookseller
[ The Bookseller | 2019-03-26 00:00:00 UTC ]
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In January, the Guardian became the first national newspaper to use recyclable packaging. Here, the team behind the change explain how it came about – and how readers have respondedAs part of a pioneering move to reduce plastic waste, the Guardian’s print edition will no longer be sold in... Continue reading at The Guardian
[ The Guardian | 2019-02-09 00:00:00 UTC ]
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Adweek’s CEO is implementing a culture of innovation and entrepreneurship to drive the brand in becoming an industry educator. Over the past two years, Jeff Litvack has worked to diversify and strengthen Adweek’s revenue stream, while developing a staff of hand-selected, self-motivators. By... Continue reading at Folio Magazine
[ Folio Magazine | 2018-09-26 00:00:00 UTC ]
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Axios, BuzzFeed News, Vox Media and other news publishers are using their brands to land TV real estate. The post News publishers are using their brands to carve out space on TV screens appeared first on Digiday. Continue reading at Digiday
[ Digiday | 2018-08-13 00:00:00 UTC ]
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Atlantic Media-owned Quartz has long eschewed programmatic advertising, arguing display ads sold through automation negatively impact user experience. But the company said Tuesday that it is changing its mind, and among other steps has begun selling ads through Concert, a digital ad marketplace... Continue reading at Advertising Age
[ Advertising Age | 2018-05-09 00:00:00 UTC ]
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A few months ago Facebook implemented a big change in its algorithm that impacted what kind of content it would surface to users. In a move that sent shivers down the spines of media professionals, Facebook said it would de-prioritize publisher content in favor of posts between connections. For... Continue reading at Fast Company
[ Fast Company | 2018-03-30 00:00:00 UTC ]
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The deal was an example of how publishers are leaning on each other to grow their share of the digital ad pie that’s increasingly going to the tech giants. The post Conde Nast is out of its sales partnership with NBCU and Vox Media appeared first on Digiday. Continue reading at Digiday
[ Digiday | 2018-03-19 00:00:00 UTC ]
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Meredith Corp. has agreed to acquire Time Inc. for $2.8 billion including debt, swallowing the once-mighty home of Fortune and Sports Illustrated after the internet age wreaked havoc on even the most prestigious magazine titles.The $18.50-a-share offer is an all-cash one, Meredith said in a... Continue reading at Advertising Age
[ Advertising Age | 2017-11-27 00:00:00 UTC ]
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Mashable is exploring strategic options including the sale of all or part of the online media company, according to people with knowledge of the matter.Mashable, founded in 2005, may draw interest from buyers in Europe and the U.S., said one of the people, who asked not to be identified... Continue reading at Advertising Age
[ Advertising Age | 2017-08-16 00:00:00 UTC ]
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BuzzFeed, Vox Media, Attn, Mashable and Refinery29 are among the publishers getting paid by Facebook to make shows for its video tab. The post Facebook recruits its top publishers for exclusive shows appeared first on Digiday. Continue reading at Digiday
[ Digiday | 2017-05-25 00:00:00 UTC ]
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