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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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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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 ]
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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 ]
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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 ]
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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 ]
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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 ]
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If you've been on the lookout for a killer deal on a perfectly decent tablet for streaming videos and catching up on some reading, hunt no more. Just ahead of the October edition of Prime Day, Amazon has slashed the price of the Fire HD 10 tablet to $75, which is a discount of $65. This matches... Continue reading at Engadget
[ Engadget | 2024-09-30 20:27:55 UTC ]
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After decades of writing raw and unflinching novels, screenplays, and scripts for television, the author is still curious and eager to learn—just don’t ask him how he feels about his process. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-09-27 04:00:00 UTC ]
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Thanks to the new Emmys ratings, ABC was the big winner Sunday night. According to Nielsen numbers, the 76th Primetime Emmy Awards on ABC scored its highest ratings in three years, reaching 6.87 million average viewers. (ADWEEK) The evening ceremony at the Peacock... Continue reading at AdWeek
[ AdWeek | 2024-09-17 11:59:00 UTC ]
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Thanks to the new Emmys ratings, ABC was the big winner on Sunday night. According to Nielsen numbers, the 76th Emmys on ABC scored its highest ratings in three years. The latest iteration of the awards show, hosted by father-and-son duo Eugene Levy and Dan Levy, reached... Continue reading at AdWeek
[ AdWeek | 2024-09-16 22:53:47 UTC ]
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While you can do pretty much anything on your phone or tablet, sometimes having a dedicated device is the way to go. Opting for an ereader can help reduce eye strain compared with looking at a smartphone screen for hours on end. The battery will last longer too, and you won't have notifications... Continue reading at Engadget
[ Engadget | 2024-09-03 14:56:49 UTC ]
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The renewed community event returns on September 7 under the theme, “Literary rɛvəˈluʃən (revolution).” Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-09-03 04:00:00 UTC ]
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Marvel supervillain and Fantastic 4 foil Doctor Doom is everywhere these days. After appearing at Comic Con as Robert Downey Jr.'s latest role, the green-caped menace will be heavily featured in Fortnite's Chapter 5 Season 4 as part of the Absolute Doom battle pass, Epic announced. "Wielding... Continue reading at Engadget
[ Engadget | 2024-08-16 12:00:27 UTC ]
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New releases in fiction, nonfiction and comics that caught our attention. Hum by Helen Phillips Robots have become a regular fixture of the workforce, and humans are losing their jobs to AI. Climate change is wreaking havoc on the planet. It’s getting harder and harder for the average person to... Continue reading at Engadget
[ Engadget | 2024-08-10 19:43:55 UTC ]
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A demon summoner, a mission to Jupiter's moon, a secret nerd society pushing for change, and more of today's best YA book deals. Continue reading at Book Riot
[ Book Riot | 2024-08-03 13:30:00 UTC ]
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Distinct among the literary prizes for its emphasis on debuts, the Center for Fiction First Novel Prize has been recognizing “exciting emerging voices in contemporary fiction” since 2006. This year, a panel of readers and judges selected a longlist of 25 novels out of 144 debuts submitted for... Continue reading at Literrary Hub
[ Literrary Hub | 2024-08-01 14:21:54 UTC ]
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With 320 agencies in its Literary Agents and Scouts Center, Frankfurt Book Fair will also feature a Games Business Center and a Book-to-Screen Day. The post Frankfurter Buchmesse’s 2024 Rights Center Sells Out appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2024-07-31 17:57:19 UTC ]
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The proposal includes a call for an 18-year limit on appointments to the court. President Joe Biden is unveiling a long-awaited proposal for changes at the U.S. Supreme Court, calling on Congress to establish term limits and an ethics code for the court’s nine justices. He also is pressing... Continue reading at Fast Company
[ Fast Company | 2024-07-29 13:55:34 UTC ]
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While reading a debut novel, oftentimes, there exists a momentary thrill of forgetting about craft. Instead, it can feel as if these writers grew up alongside their stories—in parallel lines and lives, naturally accumulating sentences with every inch they grew. There is a tender, literary... Continue reading at Electric Literature
[ Electric Literature | 2024-07-17 11:00:00 UTC ]
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Amazon Prime Day 2024 sales have hit their final stretch—so if you’ve been holding off on shopping for a new drive, now’s the time to act. Many SSDs, HDDs, and external storage from popular manufacturers are still at low or all-time low prices, with capacities ranging from 512GB all the... Continue reading at PC World
[ PC World | 2024-07-17 10:00:00 UTC ]
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