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
A trio of new contemporary romance offerings from Black authors beckon readers to settings as far-flung as small-town West Virginia and Panama City. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-04-19 04:00:00 UTC ]
More news stories like this | News stories tagged with:
This spring has come with its fair share of excellent debut novels. Here are three more, for your reading pleasure. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-04-19 04:00:00 UTC ]
More news stories like this | News stories tagged with:
#reading pleasure
#fair share
#debut novels
New graphic novels for middle schoolers explore the poignant joys of summer camp for queer and nonbinary kids. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-04-12 04:00:00 UTC ]
More news stories like this | News stories tagged with:
#summer camp
#graphic novels
All schools under the English Montreal School Board, the Lester B. Pearson School Board and the Sir Wilfrid Laurier School Board are closed due to a mixture of snow and power outages. Continue reading at CBC
[ CBC | 2024-04-04 10:49:07 UTC ]
More news stories like this | News stories tagged with:
#pearson
#power outages
#schools closed
An epic treehouse, a Loch Ness Monster adventure, Indigenous water protectors, and more of today's best children's book deals. Continue reading at Book Riot
[ Book Riot | 2024-04-03 14:54:12 UTC ]
More news stories like this | News stories tagged with:
#children’s book
#children's book
#book deals
Get ready for the fun and the fantastical. Caroline Carlson recommends new children’s books by Maple Lam, Felicita Sala, Laurie Morrison and more. | Lit Hub Reading Lists The collapse of Small Press Distribution has left over 400 publishers uncertain about the future. Adam Morgan talks to small... Continue reading at Literrary Hub
[ Literrary Hub | 2024-04-03 10:30:45 UTC ]
More news stories like this | News stories tagged with:
#small press
Paraclete lands world rights for a new series from prolific author Glenys Nellist, Eerdmans signs a new book from contemplative Catholic writer Cameron Bellm, and more. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-04-02 04:00:00 UTC ]
More news stories like this | News stories tagged with:
#world rights
Three books out this week explore the science behind aging, paranormal phenomena, and our solar system. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-03-15 04:00:00 UTC ]
More news stories like this | News stories tagged with:
#week explore
Revenue in 12 of 16 overseas book markets rose last year, even as unit sales fell, according to a new joint report from Nielsen/GFK Entertainment. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-03-08 05:00:00 UTC ]
More news stories like this | News stories tagged with:
#international markets
Spotify's... interesting pricing plans, it "It" books of March, and more of the day's bookish news: Continue reading at Book Riot
[ Book Riot | 2024-03-01 21:43:16 UTC ]
More news stories like this | News stories tagged with:
#audiobook
#bookish news
The International Rights Center at London Book Fair is 'slightly' bigger than last year, and returns to ground floor for 2024. The post Rights Edition: London Book Fair’s Rights Center: 500+ Tables appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2024-03-01 19:34:09 UTC ]
More news stories like this | News stories tagged with:
#london book
#london book fair
#ground floor
#rights center
#rights edition
The Southern California Independent Bookstore Bestsellers list for Sunday, March 3, 2024, including hardcover and paperback fiction and nonfiction. Continue reading at Los Angeles Times
[ Los Angeles Times | 2024-02-28 14:00:07 UTC ]
More news stories like this | News stories tagged with:
#independent bookstore
#hardcover
#paperback
#paperback fiction
#including hardcover
#bestselling books
An Australian startup that recently hired a new North American president plans to grow its U.S. headquarters in Denver. The startup is a digital platform that helps privately owned businesses determine their valuation. It also helps create a roadmap for a successful exit, which could include a... Continue reading at Silicon Valley Business Journal
[ Silicon Valley Business Journal | 2024-02-28 13:09:19 UTC ]
More news stories like this | News stories tagged with:
#privately owned
#younger generation
#digital platform
#recently hired
New tools could finally help publishers stem the flow of counterfeit editions online. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-02-23 05:00:00 UTC ]
More news stories like this | News stories tagged with:
#publishers stem
#growing problem
#counterfeit books
New tools could finally help publishers stem the flow of counterfeit editions online. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-02-23 05:00:00 UTC ]
More news stories like this | News stories tagged with:
#publishers stem
#growing problem
#counterfeit books
Probing the lives and work Barbara Comyns, Ralph Waldo Emerson, and Carson McCullers, these literary biographies, out this week, take a fresh look at three of our most visionary writers. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-02-22 05:00:00 UTC ]
More news stories like this | News stories tagged with:
Some stories are ripped from the headlines; others are ripped from history. Three new novels publishing this week explore the lives of historical figures who left a mark on their respective eras. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-02-22 05:00:00 UTC ]
More news stories like this | News stories tagged with:
#historical figures
#week explore
#novels inspired
At Bologna, the book fair plans a new television and film rights trading center. And in London, the 'Introduction to Rights' seminar precedes the trade show. The post Bologna’s TV/Film Rights Center; London’s ‘Intro to Rights’ appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2024-02-09 19:59:50 UTC ]
More news stories like this | News stories tagged with:
#book fair
#trade show
#post bologna
Three Black women novelists make their debut with tales of inheritance, friendship, and alternate futures. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-02-08 05:00:00 UTC ]
More news stories like this | News stories tagged with:
#novelists
#debut novels
These new books center the efforts of Harriet Tubman, Abraham Lincoln, and Hubert Humphrey to better the lives of the underprivileged and underrepresented. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-02-08 05:00:00 UTC ]
More news stories like this | News stories tagged with:
#abraham lincoln