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 ]
News tagged with:
#chrysler building
#helmsley building
#$500 million
#$65 million
#wells fargo
#existing debt
#free rent
#$180 million
#$400 million
#tourist-friendly attraction
#skating rink
#construction beam
#69th floor
#month marked
#70th floor
#schuster
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 ]
More news stories like this | News stories tagged with:
#schuster
#skating rink
#$400 million
#wells fargo
#$500 million
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 ]
More news stories like this | News stories tagged with:
#bookstore
#in-house team
#entire staff
#25-year history
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 ]
More news stories like this | News stories tagged with:
#tail end
#social disease
#nielsen
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 ]
More news stories like this | News stories tagged with:
#three-year high
#day earlier
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 ]
More news stories like this | News stories tagged with:
#buzzfeed reported
#ariana grande
#extremely successful
#pure views
#data sources
#proprietary score
#helps judge
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 ]
More news stories like this | News stories tagged with:
#book publisher
#changing marketplace
#future growth
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 ]
More news stories like this | News stories tagged with:
#justice department
#apple conspired
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 ]
More news stories like this | News stories tagged with:
#e-book pricing
#people familiar
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 ]
More news stories like this | News stories tagged with:
#emerging stories
#amitav ghosh
#emergence magazine
#online publication
#sacred connection
#narrated essays
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 ]
More news stories like this | News stories tagged with:
#book covers
#growing number
#economic challenges
#dust jackets
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 ]
More news stories like this | News stories tagged with:
#dramatic drop
#book sales
#boost sales
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 ]
More news stories like this | News stories tagged with:
#ebook pricing
#antitrust lawsuit
#simon schuster
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 ]
More news stories like this | News stories tagged with:
#recent book
#published book
With earnings having dropped by 60%, it is harder than ever to keep going as a writer – even if your work gets rave reviewsThe 2022 publication of A Hunger, Ross Raisin’s fourth novel, was his “lowest moment”, the 45-year-old author says. “It was a deflating experience.”The book received... Continue reading at The Guardian
[ The Guardian | 2024-10-14 15:35:55 UTC ]
More news stories like this | News stories tagged with:
#novelists
#work hard
This week, we’re joined by tech critic Paris Marx to discuss Data Vampires, his latest Tech Won’t Save us podcast series. We chat about how data centers suck up vast amounts of power, water and other resources, and why the AI boom is exacerbating those issues. Also, Devindra and Ben dive into a... Continue reading at Engadget
[ Engadget | 2024-10-11 13:30:50 UTC ]
More news stories like this | News stories tagged with:
#book business
#manga
#managing editor
#outro music
#theme music
#junji ito
The deals are flying fast and furious this Prime Day, and there's plenty to be had from within Amazon's own ecosystem. Right now, you can snag three months of an Audible Premium Plus subscription for just a dollar a month. It's not quite as good a discount as it was earlier this year (free!),... Continue reading at Engadget
[ Engadget | 2024-10-08 19:11:31 UTC ]
More news stories like this | News stories tagged with:
#audiobook
#follow @engadgetdeals
#stay tuned
#buying advice
#creative team
#walking dead
#neil gaiman
#notable names
#radio plays
#runs members-
#hop aboard
#mildly curious
#usual price
#automatically renew
When Papp International acquired Chouette in 2023, it brought the ancillary publishing program for The Little Prince into its licensing portfolio. The publisher has just closed a deal to become the lead publisher for ancillary publishing in the Americas. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-10-03 04:00:00 UTC ]
More news stories like this | News stories tagged with:
#publishing program
#licensing hotline
The weather is, unfortunately, getting colder and that means it's about time to cozy up on your couch with a blanket and some good reading material. If you're an e-reader lover or have finally run out of bookshelf space then you might want to look at the Kindle Paperwhite Signature Essentials... Continue reading at Engadget
[ Engadget | 2024-10-01 14:17:17 UTC ]
More news stories like this | News stories tagged with:
#kindle
#follow @engadgetdeals
#prime members
#fabric cover