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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Written By: Lisa Campbell, Graeme Neill and Charlotte Williams Publication Date: Wed, 31/08/2011 - 18:15 Publishers and trade figures have broadly reacted positively towards the scrapping of Waterstones 3-for-2 promotion. As The Bookseller revealed earlier today [31st August], the offer is... Continue reading at The Bookseller
[ The Bookseller | 2011-08-31 00:00:00 UTC ]
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Written By: Graeme Neill and Lisa Campbell Publication Date: Wed, 31/08/2011 - 10:27 Waterstone's is bringing its iconic 3 for 2 offer to an end, with plans to implement money-off deals across individual books. read more Continue reading at The Bookseller
[ The Bookseller | 2011-08-31 00:00:00 UTC ]
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Despite the decline of paper product use among publishers, prices for paper havent fallen the way many hoped they would. Some say that this is the result of demand meeting supply, while others think pricing is about to change for the publishers benefit. Terry Choate, president of Making... Continue reading at Folio Magazine
[ Folio Magazine | 2011-08-30 00:00:00 UTC ]
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Written By: Graeme Neill Publication Date: Tue, 23/08/2011 - 14:43 Collins has bought a memoir of an Irish traveller bare-knuckle boxing champion. Craig Adams, assistant editor for Collins, bought world rights in all languages to Knuckle by James Quinn McDonagh, in an unagented deal. The book... Continue reading at The Bookseller
[ The Bookseller | 2011-08-23 00:00:00 UTC ]
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Written By: Graeme Neill Publication Date: Tue, 23/08/2011 - 14:43 Collins has bought a memoir of an Irish traveller bare-knuckle boxing champion. Craig Adams, assistant editor for Collins, bought world rights in all languages to Knuckle by James Quinn McDonagh, in an unagented deal. The book... Continue reading at The Bookseller
[ The Bookseller | 2011-08-23 00:00:00 UTC ]
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Written By: Benedicte Page Publication Date: Fri, 12/08/2011 - 08:22 Supporters of New Cross library have claimed the council is demanding £24,000 in annual rent to reopen the library. It is due to reopen tomorrow (13th August) as New Cross People's Library, in a trial venture run by local... Continue reading at The Bookseller
[ The Bookseller | 2011-08-12 00:00:00 UTC ]
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A class-action lawsuit accuses Apple of working with publishers to raise the cost of ebooks. Continue reading at PC World
[ PC World | 2011-08-11 00:00:00 UTC ]
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The Association for Retail Environments [ARE] is reinventing and growing its bimonthly magazine, Retail Environments, to have a broader industry wide circulation and coverage of membership-centric topics. Continue reading at Folio Magazine
[ Folio Magazine | 2011-08-05 00:00:00 UTC ]
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Written By: Katie Allen Publication Date: Thu, 21/07/2011 - 12:40 Angry Robot is to publish a debut novel by Canadian writer Madeline Ashby. vN is set in a near-future where robots and humans live side by side, and follows Amy, who has grown up with a cybernetic mother and human father. Alone... Continue reading at The Bookseller
[ The Bookseller | 2011-07-21 00:00:00 UTC ]
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Written By: Caroline Horn Publication Date: Tue, 19/07/2011 - 11:21 Puffin is reviving Willard Price's Adventure series, which will be penned by Henry Tumour author Anthony McGowan, after signing a deal with his estate. Publisher Amanda Punter and executive editor Shannon Park bought world... Continue reading at The Bookseller
[ The Bookseller | 2011-07-19 00:00:00 UTC ]
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Written By: Graeme Neill Publication Date: Wed, 13/07/2011 - 15:32 Amazon.com has dropped the price of its advertising-heavy Amazon 3G Kindle to $139 (£86.91). Telecoms company AT&T is sponsoring the Kindle with Special Offers, which will include campaigns for customers and sponsored... Continue reading at The Bookseller
[ The Bookseller | 2011-07-13 00:00:00 UTC ]
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Written By: Charlotte Williams Publication Date: Mon, 04/07/2011 - 15:29 More than 1,500 people have nominated titles for World Book Night 2012, with over 3,000 titles put forward just over a week after the ballot opened. read more Continue reading at The Bookseller
[ The Bookseller | 2011-07-04 00:00:00 UTC ]
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Written By: Benedicte Page Publication Date: Mon, 20/06/2011 - 14:14 Osprey Group has completed a "major" refinancing to fund expansion. The publisher, which targets enthusiasts in specialist areas such as military history, heritage and antiques, has obtained £4m from London-based private... Continue reading at The Bookseller
[ The Bookseller | 2011-06-20 00:00:00 UTC ]
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Written By: Charlotte Williams Publication Date: Wed, 15/06/2011 - 14:03 Random House author Katie Price is to attempt to break the Guinness World Records title for the largest book signing by a single author. Price's attempt will take place at the O2 Academy, Leeds, at 11 a.m. on 27th July,... Continue reading at The Bookseller
[ The Bookseller | 2011-06-15 00:00:00 UTC ]
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Retailing for $185,000, the Espresso Book Machine, developed by On Demand Books, costs more than the annual revenue of some independent bookstores. But with a new partnership with the American Booksellers Association to help get frontlist and midlist titles from mainstream houses (something that... Continue reading at Publishers Weekly
[ Publishers Weekly | 2011-06-13 00:00:00 UTC ]
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Written By: Lisa Campbell Publication Date: Fri, 10/06/2011 - 08:30 Penguin has defended the £30 r.r.p. price of Jamie Oliver's new cookbook as "fantastic value" after retailers accused the company of "profiteering". Many booksellers have noted the price of potential bestselling hardback books... Continue reading at The Bookseller
[ The Bookseller | 2011-06-10 00:00:00 UTC ]
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A pricing war among the big guns of the book industry is causing pain at the checkout screen, but sprouting new opportunities for writers and readers. Continue reading at PC World
[ PC World | 2011-05-26 00:00:00 UTC ]
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Written By: Lisa Campbell Publication Date: Wed, 25/05/2011 - 09:23 Amazon.com has created a 3G version of its cheapest Kindle after it become the companys bestselling e-reader. The internet retailing giant announced that it was selling Kindle 3G with Special Offers in "response to customer... Continue reading at The Bookseller
[ The Bookseller | 2011-05-25 00:00:00 UTC ]
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Written By: Barbara Casassus Publication Date: Wed, 18/05/2011 - 14:45 The French National Assembly yesterday (17th May) voted into law a bill allowing publishers to fix prices of all ebooks sold in France. The text says that retailers inside or outside France must respect the fixed prices.... Continue reading at The Bookseller
[ The Bookseller | 2011-05-18 00:00:00 UTC ]
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A decade after New York City sustained one of the largest terrorist attacks in recent American history on September 11, 2001, Conde Nast has decided to move its head quarters, 18 magazine titles and 5,000 employees to 1 World Trade Center. Continue reading at Folio Magazine
[ Folio Magazine | 2011-05-18 00:00:00 UTC ]
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