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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These three new romances—spanning the Scottish Highlands, Victorian England, and outer space—deliver fresh takes on the enemies-to-lovers trope that are sure to dazzle fans of sparring hearts. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-11-10 05:00:00 UTC ]
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Don't know too much about money or how it's used? Want to learn? These new are books for you. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-11-09 05:00:00 UTC ]
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Boston University said Tuesday that its initial inquiry into the antiracist research center run by best-selling author and academic Ibram X Continue reading at ABC News
[ ABC News | 2023-11-07 17:58:34 UTC ]
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Among the week's headlines: the Alabama Public Library Service suggests moving on from the ALA's Library Bill of Rights; an Arkansas librarian recently fired for defending the freedom to read has no regrets (and a lawyer); lawmakers in Massachusetts consider a new library e-book bill; and Barack... Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-11-03 04:00:00 UTC ]
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Almost eight decades after the end of World War II, that conflict continues to define political discourse throughout the Western world. Still, for American, British, French, and Canadian readers, the war overwhelmingly means the European theater, with the Asia-Pacific campaigns against Imperial... Continue reading at Literrary Hub
[ Literrary Hub | 2023-11-02 08:40:02 UTC ]
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Fei-Fei Li, author of 'The Worlds I See' and co-director of Stanford's Human-Centered AI Institute, joins the L.A. Times Book Club Nov. 14. Continue reading at Los Angeles Times
[ Los Angeles Times | 2023-10-20 14:00:28 UTC ]
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These new debuts—an exploration of power and technology, an odyssey through an imagined metropolis, and a clever murder mystery—announce the arrival of three fiction writers to watch. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-10-20 04:00:00 UTC ]
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Get a backstage pass to the lives of Madonna, Tupac, and George Harrison in these biographies, which hit bookstore shelves this week. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-10-20 04:00:00 UTC ]
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Ever wonder how a dictionary, a NASA telescope, or a handcrafted wooden globe gets made? These new books will tell you. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-10-13 04:00:00 UTC ]
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If one thing kept me coming back (and back) to Homeworld, it was skirmish mode. Setting up a quick (“quick”) battle against the CPU would often rob me of a whole weekend while at college. Homeworld 3 sees a new mode arrive on the second sequel, a roguelike-inspired multiplayer co-op called War... Continue reading at Engadget
[ Engadget | 2023-08-25 15:30:05 UTC ]
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DeBin previously served as deputy director of Portland's Literary Arts, as well as a national account manager at Random House, Simon & Schuster, and Penguin Young Readers. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-08-24 04:00:00 UTC ]
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When I began working on the design for the cover of Kyle Dillon Hertz’s debut novel The Lookback Window, I had two goals in mind: I wanted the book to be taken seriously, and I wanted to get it into the hands of readers who might not otherwise find it. Right from the beginning of […] Continue reading at Literrary Hub
[ Literrary Hub | 2023-08-15 09:40:29 UTC ]
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Despite a dip in June, sales increased 6.9% at bookstores during the first six months of 2023 over last year, rising to $3.86 billion. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-08-15 04:00:00 UTC ]
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Libraries and bookstores aren't just places to find books, but "third places" where you can find community, great conversation, and fun. Continue reading at Book Riot
[ Book Riot | 2023-08-11 10:30:00 UTC ]
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The deal with KKR, a private equity firm, is said to be valued at roughly $1.62 billion, and could be announced as soon as Monday. Continue reading at The New York Times
[ The New York Times | 2023-08-07 03:00:57 UTC ]
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The private investment firm KKR, HarperCollins, and Richard Hurowitz of the investment firm Octavian & Company are all said to still be in contention to acquire the country's third largest trade publisher. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-08-04 04:00:00 UTC ]
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Chris Pearson told CBC News he was on his boat in the East Kootenay with his friend Jason when their kids came running over to tell them a little girl was floating in the waters of Wasa Lake. Continue reading at CBC
[ CBC | 2023-07-26 23:27:15 UTC ]
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Being sustainable is more than just a company-wide initiative at C&C Offset, says deputy general manager Francis Ho. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-07-21 04:00:00 UTC ]
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Knowledge is a lifelong pursuit, but finding time to read, study, and learn new things isn’t always easy. That’s why apps like Headway exist. It’s on sale now through July 17th during our version of Prime Day — Deal Days Summer 2023. Headway is a powerful learning app that helps you... Continue reading at PC World
[ PC World | 2023-07-13 08:00:00 UTC ]
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Our favorite books coming out this week include new titles from Mark Billingham, Charlotte Mendelson, Carin Berger, and more. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-06-30 04:00:00 UTC ]
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