Rockefeller Center is close to refinancing its mortgage in a massive $3.5 billion transaction.The deal is expected to close Friday and would be a triumph for the owners of the 7 million square-foot office and retail complex, Tishman Speyer and Henry Crown & Co. It comes at a moment when owners are unable to refinance debts or are defaulting on obligations at other landmarked Midtown office towers, including the Helmsley Building, 500 Fifth Ave., and the Chrysler Building.“Rockefeller Center’s refinancing is a big vote of confidence in New York and in this unique trophy property,” said Ruth Colp-Haber, CEO of Wharton Property Advisors, a firm that represents tenants looking for space.But the refinancing’s terms, which could still change, show that Rockefeller Center’s owners have had to pay a big price for a shorter-term loan.The new mortgage’s interest rate is 6.5%, according to a report yesterday from credit-rating firm KBRA. That is higher than the older $1.7 billion loan’s 5.6%, according to S&P Global, and indicates Rockefeller Center’s annual mortage-interest costs would more than double, to $225 million from $95 million, thanks to the higher interest rate and larger loan balance. If rates were to fall over the next five years, the owners of the complex could shop for a less expensive mortgage, but if rates rise they face the prospect of even higher borrowing costs.In addition, the new mortgage would come due in just five years, a big drop from the existing... Continue reading at 'Crains New York'
[ Crains New York | 2024-10-16 16:04:15 UTC ]
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Rockefeller Center is close to refinancing its mortgage in a massive $3.5 billion transaction.The deal is expected to close Friday and would be a triumph for the owners of the 7 million square-foot office and retail complex, Tishman Speyer and Henry Crown & Co. It comes at a moment when... Continue reading at Crains New York
[ Crains New York | 2024-10-16 16:04:15 UTC ]
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Christie’s auction house is extending its sizeable lease at Rockefeller Center for another 25 years, landlord Tishman Speyer announced Tuesday. It’s a significant win for an older office complex whose peers have struggled to retain tenants.Christie’s American headquarters at 20 Rockefeller Plaza... Continue reading at Crains New York
[ Crains New York | 2024-08-20 15:35:35 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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Welcome to another edition of Ad Age Sports Media Brief, a weekly roundup of news from every zone of the sports media spray chart, including the latest on broadcast/cable/streaming, sponsorships, endorsements, gambling and tech. Back in Black NFL ad pricing has rebounded after last year’s drop,... Continue reading at Advertising Age
[ Advertising Age | 2019-09-06 09:00:00 UTC ]
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U.S. stocks are mixed Wednesday as the price of oil rose to a three-year high but banks declined along with interest rates. Stocks rallied a day earlier on signs the trade tensions between the U.S. and China were easing. Facebook stock continues to rise as CEO Mark Zuckerberg testifies to... Continue reading at Los Angeles Times
[ Los Angeles Times | 2018-04-11 00:00:00 UTC ]
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This week's most viewed Web series video isn't a song, dance, skit or prank. It's a simple unboxing video of the Play Dough Sparkle set featuring the Disney Princesses, uploaded by none other than the secretive DisneyCollector. The video, which has been viewed more than 43 million times since... Continue reading at AdWeek
[ AdWeek | 2014-08-29 00:00:00 UTC ]
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US publisher will cut staff as 'cost-saving initiative' while row with Amazon continues to hamper ability to sell booksHachette, the multinational book publisher embroiled in a public spat with Amazon, announced that it will be laying off about 3% of its staff on Thursday."Today, we had to make... Continue reading at The Guardian
[ The Guardian | 2014-06-06 00:00:00 UTC ]
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The Justice Department’s ebook price fixing trial – alleging that Apple conspired to raise ebook prices – is scheduled to end this week. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2013-06-26 00:00:00 UTC ]
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Talks to resolve U.S. and European price-fixing probes into ebooks are heating up, with three international publishers inclined to settle the matter, according to people familiar with the matter. Continue reading at AllThingsD
[ AllThingsD | 2012-04-05 00:00:00 UTC ]
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Picture book writers whose works look different from one another because they’re illustrated by different artists are less apt to be on your radar. Continue reading at The New York Times
[ The New York Times | 2024-05-31 09:04:00 UTC ]
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Emergence Magazine is an online publication with annual print edition exploring the threads connecting ecology, culture, and spirituality. As we experience the desecration of our lands and waters, the extinguishing of species, and a loss of sacred connection to the Earth, we look to emerging... Continue reading at Literrary Hub
[ Literrary Hub | 2021-12-06 09:54:11 UTC ]
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Pointing to the need for pricing flexibility at a time when bookstores face a growing number of economic challenges, some booksellers question whether it’s time for publishers to stop printing suggested retail prices on book covers and dust jackets. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-08-22 00:00:00 UTC ]
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Despite a dramatic drop in book sales, Aladin used bookstores have thrived, with some publishers dumping books to boost sales; a fixed-price law is now under debate. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2013-11-15 00:00:00 UTC ]
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The U.S. filed an antitrust lawsuit against Apple Inc., Hachette SA, HarperCollins, Macmillan, Penguin and Simon & Schuster in New York district court, claiming collusion over eBook pricing. Continue reading at Los Angeles Times
[ Los Angeles Times | 2012-04-11 00:00:00 UTC ]
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Fans will love these deep dives into 'Ted Lasso,' Taylor Swift, and 'Gilmore Girls.' Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-11-08 05:00:00 UTC ]
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It’s the day after Election 2024 and half the population of the United States thinks the end of the world is imminent. And the founders and editors of satire site 'The Babylon Bee' whose, whose new book 'The Babylon Bee Guide to the Apocalypse' (Regnery) releases next week, are delighted. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-11-05 05:00:00 UTC ]
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The Southern California Independent Bookstore Bestsellers list for Sunday, Nov. 3, 2024, including hardcover and paperback fiction and nonfiction. Continue reading at Los Angeles Times
[ Los Angeles Times | 2024-10-30 13:00:21 UTC ]
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These Amazon Kindle alternatives have terrifically tactile physical buttons for turning pages. Boy, is my wife mad at Amazon for killing off the wonderful Oasis line of premium Kindle e-book readers. I, too, am upset—she’s due for an upgrade and the holidays are right around the corner. Continue reading at Fast Company
[ Fast Company | 2024-10-20 04:30:00 UTC ]
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The gamble paid off for Vice President Kamala Harris. The Democratic presidential candidate's contentious Wednesday evening interview on Fox News returned nice dividends from a ratings perspective. According to final numbers from Nielsen Media Research, 7.8 million total... Continue reading at AdWeek
[ AdWeek | 2024-10-17 22:55:45 UTC ]
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Silverstein Properties' redevelopment of the World Trade Center site has been by and large a success story. Yes, the Lower Manhattan office market is struggling in the wake of the pandemic, but in the past two decades the developer has still managed to transform a desolate location of almost... Continue reading at Crains New York
[ Crains New York | 2024-10-17 09:48:11 UTC ]
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