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 ]
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 ]
More news stories like this
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 ]
More news stories like this
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 ]
More news stories like this
Simon & Schuster appears to be thriving as it turns 100, a book restorer reveals the surprising secrets of her work, and more news. Continue reading at Book Riot
[ Book Riot | 2024-04-11 13:56:20 UTC ]
More news stories like this
The milestone comes after a particularly turbulent period, when the publisher was put up for sale and bought by a private equity firm. Since then, investments have boosted morale and helped it grow. Continue reading at The New York Times
[ The New York Times | 2024-04-10 15:26:51 UTC ]
More news stories like this
Audio shared with the New York Times appears to record executives discussing purchase of the US books giant to feed into its large language modelsStaff at technology company Meta discussed buying publishing house Simon & Schuster last year in order to procure books to train the company’s... Continue reading at The Guardian
[ The Guardian | 2024-04-09 15:36:14 UTC ]
More news stories like this
The City Council said it has found an additional $6 billion in newly identified city dollars to undo many of Mayor Eric Adams’ spending cuts and make new investments in affordable housing construction and education.Lawmakers on Monday released their official response to the mayor’s $109 billion... Continue reading at Crains New York
[ Crains New York | 2024-04-01 17:27:55 UTC ]
More news stories like this
For a show famously about nothing, "Seinfeld" created a whole lot of something for its star.The enduring sitcom has helped propel comedian Jerry Seinfeld’s net worth to more than $1 billion, according to the Bloomberg Billionaires Index, which is valuing his wealth for the first time.His... Continue reading at Crains New York
[ Crains New York | 2024-03-22 15:12:16 UTC ]
More news stories like this
Simon & Schuster lands a novel that had the London Book Fair buzzing, Celadon signs a young Harvard grad’s hot debut novel, and more Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-03-22 04:00:00 UTC ]
More news stories like this
LeasesPrivate equity firm takes space on Park AvenueAddress: 277 Park Ave., ManhattanLandlord: The Stahl OrganizationTenant: Arsenal Capital ManagementLease size: Approx. 47,000 square feetAsset type: OfficeBrokers: Newmark's Josh Friedman and Neil Goldmacher represented the tenant. Cushman... Continue reading at Crains New York
[ Crains New York | 2024-03-19 17:07:33 UTC ]
More news stories like this
Simon & Schuster kicks off its centenary year with a curated selection of 100 books from its 100 years and special programming ahead. The post Simon & Schuster Opens Its 100th Anniversary Year appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2024-01-31 17:56:56 UTC ]
More news stories like this
The country's third largest trade publisher will mark its 100th anniversary with a series of events, starting with the release of the Simon & Schuster 100, a selection of titles that the company says reflects the scope of its publishing program. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-01-31 00:00:00 UTC ]
More news stories like this
The Right to Read Act would authorize up to $500 million in Comprehensive Literacy State Development Grants as as well as investing in recruiting state-certified school librarians. And crucially, the legislation also reaffirms that "First Amendment rights apply to school libraries," a direct... Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-10-06 04:00:00 UTC ]
More news stories like this
London-based Informa plc will officially resume its in-person events business with a three-day beauty expo in China during the second week of July, but says its overall revenues will likely decline by about a third this year as the timeline for the return of large gatherings in North America,... Continue reading at Folio Magazine
[ Folio Magazine | 2020-06-12 17:17:56 UTC ]
More news stories like this
[caption id="attachment_181520" align="alignright" width="171"] Adam Rapoport[/caption] Adam Rapoport, editor-in-chief at Bon Appétit since 2010, is stepping down from that role after a photo of him in an offensive Halloween costume resurfaced online Monday amid allegations from current and... Continue reading at Folio Magazine
[ Folio Magazine | 2020-06-09 15:00:08 UTC ]
More news stories like this
[caption id="attachment_103803" align="alignright" width="164"] Christene Barberich[/caption] Refinery29 co-founder Christene Barberich is stepping down from her role as global editor-in-chief of the 15 year-old women's lifestyle site to make way for a replacement, she revealed on Instagram... Continue reading at Folio Magazine
[ Folio Magazine | 2020-06-08 17:01:08 UTC ]
More news stories like this
The 2019 FIFA Women’s World Cup has been putting up big numbers for Fox Sports, and if the United States squad can get past England in Tuesday’s semifinal match, advertisers are all but assured that a massive audience will tune in for the July 7 final. According to Nielsen live-same-day data,... Continue reading at Advertising Age
[ Advertising Age | 2019-07-01 17:19:54 UTC ]
More news stories like this
Comscore remains the best hope for a serious challenge to behemoth Nielsen in U.S. TV ratings or cross-media measurement. But that hope grows dimmer as the stock nears record lows amid two new C-suite departures that follow a senior-leadership shakeup just two months ago. Chief Operating... Continue reading at Advertising Age
[ Advertising Age | 2019-06-07 16:42:47 UTC ]
More news stories like this
It seems every few months a headline emerges about Time Inc. and whether or not acquisition talks have begun or stalled. Today the New York Times reports that the ailing media company is once again in talks with the magazine publisher Meredith about a potential purchase. What’s more, the... Continue reading at Fast Company
[ Fast Company | 2017-11-16 00:00:00 UTC ]
More news stories like this