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 ]
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Written By: Lisa Campbell Publication Date: Fri, 18/03/2011 - 16:25 Posters reminding book buyers that "Mum's The Word" are being made available for indie retailers to encourage Mother's Day sales. The Booksellers Association has produced a series of designs, which can be downloaded and... Continue reading at The Bookseller
[ The Bookseller | 2011-03-18 00:00:00 UTC ]
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Written By: Philip Stone Publication Date: Tue, 15/03/2011 - 15:56 Sales of the six £1 World Book Day books fell 36% week-on-week, to 159,000 copies solda figure down 9% on the comparative week last yearbut they nonetheless continue to dominate the sharp end of this weeks Official UK Top... Continue reading at The Bookseller
[ The Bookseller | 2011-03-15 00:00:00 UTC ]
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Zinio's digital newsstand is back up and running after experiencing problems last Thursday through this past weekend. On Sunday, March 6, the company posted, Continue reading at Folio Magazine
[ Folio Magazine | 2011-03-09 00:00:00 UTC ]
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Written By: Lisa Campbell Publication Date: Tue, 08/03/2011 - 08:40 Inspiring books by and about women are being hailed for International Women's Day, as J K Rowling and Germaine Greer are named among 17 authors on the Guardian's Top 100 Inspirational Women list. Female novelists are holding... Continue reading at The Bookseller
[ The Bookseller | 2011-03-08 00:00:00 UTC ]
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Written By: Philip Stone Publication Date: Tue, 08/03/2011 - 16:01 The latest crop of £1 World Book Day books, led by Cope & Davies' Spy Dog/The Great Pet Shop Panic (Puffin/S&S) take positions one-through-six in this week's Official UK Top 50, with sales totalling 247,235 copiesa... Continue reading at The Bookseller
[ The Bookseller | 2011-03-08 00:00:00 UTC ]
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John P. Loughlin, EVP and GM of Hearst Magazines, kicked off DMA's Circulation Marketing Day at the Time Inc. Conference Center in New York City as keynote speaker. Continue reading at Folio Magazine
[ Folio Magazine | 2011-03-03 00:00:00 UTC ]
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Written By: Graeme Neill Publication Date: Tue, 01/03/2011 - 08:22 Vintage will open its doors to 30 members of the public next month to give them a glimpse into the publishing industry, as part of its 21st birthday celebrations. The open day will be held on 18th April in Vintage's offices in... Continue reading at The Bookseller
[ The Bookseller | 2011-03-01 00:00:00 UTC ]
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Written By: Benedicte Page Publication Date: Thu, 24/02/2011 - 15:29 read more Continue reading at The Bookseller
[ The Bookseller | 2011-02-24 00:00:00 UTC ]
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Written By: Charlotte Williams Publication Date: Wed, 23/02/2011 - 09:34 Margaret Atwood, Alan Bennett and John Le Carre will be among the authors headlining the World Book Night launch event in Trafalgar Square on 4th March. Graham Norton will compere the event, with Philip Pullman, Sarah... Continue reading at The Bookseller
[ The Bookseller | 2011-02-23 00:00:00 UTC ]
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Written By: Philip Jones Publication Date: Tue, 22/02/2011 - 09:10 Apple's new subscription terms could fall under the gaze of regulators in the US and the EU, according to the Wall Street Journal, though the newspaper doubts that much will be achieved unless Apple chooses to give ground in... Continue reading at The Bookseller
[ The Bookseller | 2011-02-22 00:00:00 UTC ]
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Written By: Graeme Neill Publication Date: Tue, 22/02/2011 - 15:14 Net income at Barnes & Noble fell by 25% to $60.6m (£37.5m) during its Christmas trading quarter, the US retailer has revealed. For the 13 weeks to 29th January, total sales at the bookseller increased by 7% to $2.3bn... Continue reading at The Bookseller
[ The Bookseller | 2011-02-22 00:00:00 UTC ]
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Written By: Graeme Neill Publication Date: Tue, 22/02/2011 - 15:20 Net income at Barnes & Noble fell by 25% to $60.6m (£37.5m) during its Christmas trading quarter, the US retailer has revealed. For the 13 weeks to 29th January, total sales at the bookseller increased by 7% to $2.3bn... Continue reading at The Bookseller
[ The Bookseller | 2011-02-22 00:00:00 UTC ]
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Written By: Laura Richards Publication Date: Tue, 22/02/2011 - 14:00 Macmillan Childrens Books is to hold a Gruffalo fundraising event tomorrow for Red Nose Day. As a supporting partner of this years Comic Relief, the popular childrens book character will be hosting the fundraiser in... Continue reading at The Bookseller
[ The Bookseller | 2011-02-22 00:00:00 UTC ]
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Written By: Caroline Horn Publication Date: Tue, 22/02/2011 - 15:42 read more Continue reading at The Bookseller
[ The Bookseller | 2011-02-22 00:00:00 UTC ]
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Written By: Philip Jones Publication Date: Thu, 17/02/2011 - 09:34 The Australian book trade has been hit by the surprise collapse of REDgroup, which owns the country's largest bookshop chain Angus & Robertson, as well as Borders and the Whitcoulls chain of newsagencies in New Zealand. It... Continue reading at The Bookseller
[ The Bookseller | 2011-02-17 00:00:00 UTC ]
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Consumer magazines slowed their general circulation skid, with total paid and verified circ dropping 1.2 percent for the second half of 2010 (compared to a 2.3 percent drop in the first half of the year), according to preliminary figures reported in the Audit Bureau of Circulations' most recent... Continue reading at Folio Magazine
[ Folio Magazine | 2011-02-07 00:00:00 UTC ]
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