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 ]
Penguin Random House will distribute all titles published by Boom! Studios, which it acquired this August, starting next July, taking over distribution to the bookstore trade from Simon & Schuster and to the direct market from Diamond Comic Distributors. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-12-11 05:00:00 UTC ]
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Veen Bosch & Keuning, the largest publisher in the Netherlands, has confirmed plans to trial the use of artificial intelligence to assist in translation of commercial fictionA major Dutch publisher plans to trial translating books into English using artificial intelligence.Veen Bosch &... Continue reading at The Guardian
[ The Guardian | 2024-11-04 17:43:58 UTC ]
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Graham will step down as publisher of Scribner in 2025, per Simon & Schuster CEO Jonathan Karp, with S&S slated to begin an "open and thorough search for the next publisher." Graham will remain with the imprint in an as-yet-unnamed editorial role. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-10-24 04:00:00 UTC ]
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Watergate reporter says Trump is far worse than Nixon and ‘most reckless and impulsive president in American history’The Middle East and Ukraine are ablaze, the US mired in turmoil. An octogenarian president recedes from view. The threat of a second Trump term hangs like the sword of Damocles.... Continue reading at The Guardian
[ The Guardian | 2024-10-20 15:39:32 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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In her new role at the top of Simon & Schuster Canada, Nicole Winstanley wants to create a culture of inclusion. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-09-27 04:00:00 UTC ]
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The Urban Resource Institute, which says it is the country’s largest provider of shelter services for domestic violence survivors and their families, has contracted with the city since the organization’s inception in 1980.But two recent policy changes have transformed the group into a growing... Continue reading at Crains New York
[ Crains New York | 2024-09-16 10:03:16 UTC ]
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O’Connell comes to Saga from the flagship Simon & Schuster imprint, for which he will continue to acquire literary fiction and select nonfiction. Joe Monti, who founded Saga in 2015, has been promoted to VP, associate publisher, and editorial director. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-09-10 04:00:00 UTC ]
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FSG takes National Book Award winner Susan Choi’s new novel, Simon & Schuster lands a #1 French bestseller, and more. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-09-06 04:00:00 UTC ]
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Manning joined S&S's flagship imprint in 2016 and was named VP and executive editor in 2022. He succeeds S&S CEO Jonathan Karp, who has held down the role since the 2022 departure of Dana Canedy. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-09-04 04:00:00 UTC ]
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Continuing its international expansion, Simon & Schuster's Australian arm acquires Affirm Press, a 14-year-old independent publisher. The post Simon & Schuster Australia Acquires Affirm Press appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2024-08-26 15:00:02 UTC ]
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Simon & Schuster will publish Bob Woodward’s latest White House tell-all, Hachette takes women’s health advocate Tamsen Fadal’s Menopause guide, and more. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-08-09 04:00:00 UTC ]
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Shannon comes to Simon & Schuster from Penguin Random House’s the Knopf Doubleday Publishing Group. She succeeds the late Gary Urda, who died suddenly on June 24. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-07-31 04:00:00 UTC ]
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Wibke Grutjen moves from Hachette Book Group to Simon & Schuster in early August to lead S&S' marketing and communications teams. The post S&S Names Wibke Grutjen Global Chief of Marketing and Communications appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2024-06-26 21:24:22 UTC ]
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More than 800 attendees joined PW and the AALA at this year's U.S. Book Show, where executives from Abrams, Baker & Taylor, Scholastic, and Simon & Schuster kicked off programming with insights on the state of the industry, AI, nurturing talent, and more. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-05-23 04:00:00 UTC ]
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'Our shared goal is to expand the audience for our authors and their books,' says S&S CEO Jonathan Karp in announcing the VBK acquisition. The post Simon & Schuster To Acquire the Netherlands’ VBK appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2024-05-06 21:39:31 UTC ]
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S&S has acquired VBK, the largest Dutch book publishing house, and its subsidiaries and sister companies. The move marks the first major instance of a promised international expansion at S&S since its acquisition by private equity firm KKR last year. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-05-06 04:00:00 UTC ]
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Revived in the States earlier this year, Simon & Schuster's imprint Summit Books is being introduced in the UK, Australia, and New Zealand. The post Mirchandani Leads Simon & Schuster UK’s Summit Books appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2024-04-17 22:51:28 UTC ]
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Mirchandani, who has been editor-in-chief of Picador in the U.K. since 2019, has been named publisher of the U.K. arm of the newly revived Simon & Schuster imprint. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-04-17 04:00:00 UTC ]
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On April 8 and 9, Simon & Schuster hosted two star-studded centenary fetes in New York City to celebrate the 100th anniversary of its founding. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-04-12 04:00:00 UTC ]
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