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 ]
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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Jim Bankoff turned Vox into a content juggernaut, a purpose-built digital media company; at PubTech Connect, he’ll discuss what it takes to build the media company of the future Continue reading at Publishers Weekly
[ Publishers Weekly | 2017-02-08 00:00:00 UTC ]
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Comcast Corp.'s NBC Universal has made a second $200 million investment in BuzzFeed Inc., deepening ties between the two companies in online video and advertising.The latest funding will let NBC and BuzzFeed work more closely together on ad sales, like producing more short-form digital video for... Continue reading at Advertising Age
[ Advertising Age | 2016-11-22 00:00:00 UTC ]
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NBC Universal is nearing a deal to make a second $200 million investment in BuzzFeed, doubling its bet on the fast-growing digital publisher as the TV giant tries to reach younger audiences online, according to a person familiar with the matter.NBC's latest investment would value BuzzFeed at... Continue reading at Advertising Age
[ Advertising Age | 2016-10-22 00:00:00 UTC ]
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The recent departure of Arianna Huffington as editor-in-chief at The Huffington Post, the company she co-founded in 2005, left publishing even more bereft of female leaders than before.Then again, The Huffington Post already had a male CEO in place, just like Time Inc., The New York Times Co.,... Continue reading at Advertising Age
[ Advertising Age | 2016-09-27 00:00:00 UTC ]
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Is Facebook friend or foe? That was the question we put to attendees at the Digiday Publishing Summit that kicked off this week in Key Biscayne, Florida. Publishing execs from The Economist, Mic, Vox Media and others said while there are audience benefits to gain from the social network. But... Continue reading at Digiday
[ Digiday | 2016-09-20 00:00:00 UTC ]
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It's no longer a question of "if," it's a question of "when." Digital publishers like Vox Media, BuzzFeed, Thrillist Media Group, and Mashable are all moving closer to being on TV, even though it's taking a little longer than some media-watchers might have predicted.On Friday, "daily digital... Continue reading at Advertising Age
[ Advertising Age | 2016-08-02 00:00:00 UTC ]
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Foyles is partnering with Town Hall and Symphony Hall in Birmingham to bring authors to a combined potential audience of 2,800 people. Continue reading at The Bookseller
[ The Bookseller | 2016-07-21 00:00:00 UTC ]
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It's a fact: Most publishers rely on Facebook for a significant portion of their referral traffic. As such, they watch carefully as Facebook makes decisions about what kind of content to prioritize in the all-important News Feed product that is at the center of the social network.On Wednesday,... Continue reading at Advertising Age
[ Advertising Age | 2016-06-29 00:00:00 UTC ]
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Tribune Publishing decided to combine the editor and publisher roles at its major dailies, in a major break with publishing tradition. There's more collaboration than ever in publishing, but even the most forward-leaning digital media companies find a lot to like in the traditional editorial... Continue reading at Digiday
[ Digiday | 2016-03-04 00:00:00 UTC ]
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New digital media companies have to figure out how to scale an audience, but along the way, they face crucial branding decisions. The Huffington Post grew to top 100 million monthly uniques by stretching its mother brand across myriad subject areas, but Bustle and Vox Media say individual brands... Continue reading at Digiday
[ Digiday | 2016-02-16 00:00:00 UTC ]
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Minimum wage, selling used books, a better search engine, financing for new booksellers, and an ongoing conversation on race and class were among booksellers' concerns. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-01-25 00:00:00 UTC ]
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The big change for BISACs in 2016 is new way categories for young adult titles, adding much more granularity to formerly broad categories. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-12-11 00:00:00 UTC ]
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To hear publishers tell it, Google's plan to help sites' pages instantly load on mobile isn't a shot across the bow at Facebook, which is doing the same thing. It's a shot at keeping the mobile web and the publishers on it relevant at a time when audiences' attentions are shifting to mobile apps... Continue reading at Advertising Age
[ Advertising Age | 2015-10-08 00:00:00 UTC ]
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Google on Wednesday introduced a publishing platform designed to make news articles on smartphones load faster, which will compete with similar services from Facebook and Apple.Google's new project, called the "Accelerated Mobile Pages Project," is aimed at loading mobile web pages instantly... Continue reading at Advertising Age
[ Advertising Age | 2015-10-07 00:00:00 UTC ]
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Apple has recruited publishers like Conde Nast and Vox Media in its quest to create the news reader to beat all news readers.Apple has signed up several new media brands to its upcoming Apple News app, which is intended as a competitor to Flipboard and other news aggregators. As Apple gears up... Continue reading at Fast Company
[ Fast Company | 2015-09-03 00:00:00 UTC ]
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The sharp rise in mobile readership has forced publishers to ask themselves hard questions about their site performance. Joining the likes of GQ and The Washington Post, Vox Media has taken a hard look at its page load time, cutting it in half to an average of 11.5 seconds. Vox did this by... Continue reading at Digiday
[ Digiday | 2015-08-26 00:00:00 UTC ]
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The media behemoth is also in talks with Vox Media to bring its valuation to $850 million.NBCUniversal is nearing a deal to invest $250 million in BuzzFeed, according to Re/code. The media conglomerate is also deep in negotiations with Vox Media, an investment that would bring the online... Continue reading at Fast Company
[ Fast Company | 2015-07-30 00:00:00 UTC ]
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Today’s new breed of digital publishers is just not that into ad tech. Indeed, the much hyped cadre of venture-backed, Web-born, and millennially-inclined publishers — think Vox Media, Mic and Refinery29 &nd ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2015-07-28 00:00:00 UTC ]
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