Famed MONY tower that inspired hit song sells for a lot less cash than it fetched a decade ago in troubling sign for NYC market [Yahoo! Finance]
Victorias Secret & Co. (VSCO)
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Source: Yahoo! Finance
Yellowstone Real Estate forked over a mere $185 million — a massive $420 million haircut from how much the famed Mutual of New York tower fetched a decade ago — to purchase the remaining debt on the near-empty office building now simply called 1740 Broadway, according city Department of Finance records. Blackstone had shelled out $605 million to buy it from Vornado in 2014 — or nearly $1,000 per square foot for the 621,000 square-foot 1950-vintage, Deco-style tower between West 55th and 56 streets. A $308 million loan on the property was sent to special servicing in 2022. The fire-sale price reflects the crisis in the investment-sale market for commercial properties, where some office values have tumbled by up to 50%. But 1740 Broadway's discount was perhaps the most severe to date for an aged but still viable, recently renovated Midtown tower. Insiders were divided over how bad an omen the lowball price is for future sales. CBRE vice-chairman Stephen B. Siegel told The P
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News
- Can Victoria's Secret & Co. (NYSE:VSCO) Maintain Its Strong Returns? [Yahoo! Finance]Yahoo! Finance
- If you liked Nikki Glaser's roast of Tom Brady, wait till she flames herself in new HBO special [Los Angeles Times (CA)]Los Angeles Times
- Victoria's Secret & Co. (NYSE: VSCO) was downgraded by analysts at Morgan Stanley from an "equal weight" rating to an "underweight" rating. They now have a $15.00 price target on the stock, down previously from $19.00.MarketBeat
- Former Victoria's Secret model steps down from beauty brand due to 'significant changes' [FOX Business Network]FOX Business Network
- FRAGRANCE ENTHUSIASTS ACROSS THE COUNTRY ARE INVITED TO CAST THEIR VOTE FOR THE 2024 FRAGRANCE FOUNDATION AWARDS CONSUMER CHOICE CATEGORIES [Yahoo! Finance]Yahoo! Finance
VSCO
Earnings
- 3/6/24 - Beat
VSCO
Sec Filings
- 5/3/24 - Form ARS
- 5/3/24 - Form DEFA14A
- 5/3/24 - Form DEF
- VSCO's page on the SEC website