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 3 million square-foot portfolio, whose star is the fully occupied Seagram Building. Unfortunately for owners Aby Rosen and Michael Fuchs, the rest of their portfolio seems to be too much of the wrong stuff. Crain’s has reported that 11 of their 14 Manhattan office buildings are either battling foreclosure actions, struggling with steep vacancy rates or facing possible mortgage defaults. RFR’s woes come at a time when there is evidence Manhattan’s office recovery is extending beyond Park Avenue’s tony towers to the boxy glass post-war buildings along Third Avenue and to certain pre-wars in Midtown South. At least Rosen’s and Fuchs’s misery has plenty of company.Delinquencies of 90 days or longer were 2.7% of commercial-property loans in the third quarter, up from 2.5% in the second, the Mortgage Bankers Association reported this week. Delinquency rates fell for retail, lodging and industrial properties. They rose for office, said the MBA’s head of commercial real estate research, Jamie Woodwell. Workout rooms haven’t been so busy since shopping-mall loans fell apart en masse last decade. In August, nearly 8.5% of securitized office mortgages were in special servicing, the most in... Continue reading at 'Crains New York'
[ Crains New York | 2024-10-25 17:48:58 UTC ]
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 ]
More news stories like this
Anyone who lived within 2 miles (3.2 kilometers) of the derailment can get up to $70,000 per household for property damage plus up to $25,000 per person for health problems. A federal judge on Wednesday approved a $600 million class-action settlement Wednesday that Norfolk Southern railroad... Continue reading at Fast Company
[ Fast Company | 2024-09-26 13:48:03 UTC ]
More news stories like this
Time has joined a growing number of publications to sign a licensing deal with OpenAI. The ChatGPT creator will legally be able to train its large language models on 101 years worth of the storied publication's journalism, as Axios first reported. OpenAI will also have access to real-time... Continue reading at Engadget
[ Engadget | 2024-06-27 14:40:58 UTC ]
More news stories like this
In the last few months, news organizations have leapt into bed with OpenAI, hatching Faustian bargains where the cash-strapped media industry exchanges a monetary pittance for OpenAI's right to scrape and integrate their content into things like ChatGPT. Those that have signed in blood include... Continue reading at Engadget
[ Engadget | 2024-05-29 16:21:28 UTC ]
More news stories like this
Following its acquisition of Taunton Press in December, the enthusiast magazine publisher Active Interest Media has sold the Taunton Books imprint to Abrams. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-05-15 04:00:00 UTC ]
More news stories like this
He was promoting a new trade journal, Tape Recording, when he lent a video recorder to Andy Warhol, who used it to make a classic work with Edie Sedgwick. Continue reading at The New York Times
[ The New York Times | 2023-08-30 19:10:43 UTC ]
More news stories like this
In what is likely a record price for an audiobook publisher, KKR, the private equity firm that owns RBmedia—and a rumored contender to buy S&S—is selling the company for an alleged $1 billion sum. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-07-26 04:00:00 UTC ]
More news stories like this
Digital media and marketing group Jellyfish has been wholly acquired by The Brandtech Group, driving their combined revenue to more than $1 billion. Jellyfish, which was co-founded in 2005 by chief executive Rob Pierre, currently operates across 38 offices and employs more than 2,000 people. It... Continue reading at AdWeek
[ AdWeek | 2023-06-01 12:00:00 UTC ]
More news stories like this
The digitization of the music industry leveled the playing field for artists. An album can be written, recorded and released from a bedroom without an expensive recording studio or predatory record label. This DIY ethic isn’t new. Bands have been recording and releasing albums on their own or... Continue reading at Engadget
[ Engadget | 2022-11-18 14:00:29 UTC ]
More news stories like this
More than £300m wiped off market value as company says Zillah Byng-Thorne is to step downFuture, one of Europe’s biggest and most successful digital media companies, has seen more than £300m wiped off its market value after the company said that chief executive Zillah Byng-Thorne is to step down... Continue reading at The Guardian
[ The Guardian | 2022-09-20 11:10:40 UTC ]
More news stories like this
Driven by an increase in its physical stores, sales at Indigo Books & Music increased 17.4% in the fiscal year ended April 2, 2022, over fiscal 2021, rising to C$1.06 billion. Canada’s largest bookstore chain had an operating profit of C$29 million, compared to a loss of C$31.9 million in... Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-06-08 04:00:00 UTC ]
More news stories like this
Future’s shares tumble as investors vote down scheme in which CEO could be awarded £40mFuture, the UK’s biggest magazine publisher that is home to titles from Country Life to Metal Hammer, has been forced into an embarrassing sit-down with investors after a bruising shareholder revolt in which... Continue reading at The Guardian
[ The Guardian | 2022-02-03 16:27:30 UTC ]
More news stories like this
Sponsors Mailchimp, The Botanist Islay Dry Gin and Density help send the beloved “live magazine” back on the road. Continue reading at Advertising Age
[ Advertising Age | 2021-11-10 10:15:00 UTC ]
More news stories like this
OnlyFans, the platform that allows creators to sell material directly to customers, will soon implement new restrictions on the publication of adult content. Starting in October, the company will ban the sale of sexually explicit content and depictions of sexual acts. The move does not cover all... Continue reading at Engadget
[ Engadget | 2021-08-20 17:40:41 UTC ]
More news stories like this
Sponsored by Cummings Printing When it comes to improving profits at print magazines, there’s a tendency to focus on new ways of driving revenue. But while keeping a close eye on expenses can also have a significant impact on the bottom line, today’s environment often calls for a balancing... Continue reading at Folio Magazine
[ Folio Magazine | 2021-08-02 17:04:10 UTC ]
More news stories like this
Yu Tsai condemns magazine publisher for offering editor’s role to Alexi McCammond, who then resigned over racist tweetsA Teen Vogue photographer has said the hiring and swift axing of editor-in-chief Alexi McCammond over anti-Asian tweets shows Condé Nast does not “value” its Asian staff... Continue reading at The Guardian
[ The Guardian | 2021-03-22 15:37:27 UTC ]
More news stories like this
Hustler magazine publisher Larry Flynt Jr., the self-described "smut peddler who cares" who used his pornography empire and flair for the outrageous to push the limits of free speech, has died at the age of 78. Continue reading at CBC
[ CBC | 2021-02-11 02:25:53 UTC ]
More news stories like this
Almost 40% of investors in UK’s biggest magazine publisher fail to approve controversial planFuture, the UK’s biggest magazine publisher, home to titles from Country Life and Total Guitar, is to introduce a controversial bonus scheme that could award its chief executive £40m, after a bruising... Continue reading at The Guardian
[ The Guardian | 2021-02-10 17:29:01 UTC ]
More news stories like this
Magazine publisher says acquisition will strengthen its content and ecommerce offer. Continue reading at Media Week
[ Media Week | 2020-11-25 09:46:45 UTC ]
More news stories like this
On Friday evening, CNN put a breaking-news chyron on screen: “WH: THERE WILL NOT BE A TRANSFER OF POWER.” It reflected White House assurances that President Trump—who was, at that moment, waiting to be taken to hospital after testing positive for COVID-19—did not plan on ceding his duties to... Continue reading at Columbia Journalism Review
[ Columbia Journalism Review | 2020-10-06 12:30:29 UTC ]
More news stories like this