Daily News from New York, New York on April 30, 2003 · 34
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Daily News from New York, New York · 34

New York, New York
Issue Date:
Wednesday, April 30, 2003
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in S Ui z a n o o CM o ro Li DdMX ODD II Magazines By PAUL D. COLFORD DAILY NEWS BUSINESS WRITER Plans to print a million copies of Sen. Hillary Clinton's memoir are so far missing a key detail the name of the magazine that will run an excerpt before the book goes on sale June 9. The word is that Simon & the former first lady's book Schuster has asked only a limited number of mags if they wanted to consider "Living History" for an excerpt and has yet to show them the manuscript. And none has bid yet. Such exposure, a virtual certainty with such a high-profile title, typically earns a publisher or author a nice check while also trumpeting a book's arrival. But three mags that have carried excerpts of other books The New York Times Sunday Magazine, Vanity Fair and Newsweek answered inquiries from the Daily News by saying they don't plan to publish a piece of Clinton's memoir. The New Yorker also is believed to be staying on the sidelines. It was unclear if all four of the mags were among those approached by Simon & Schuster, which bought rights to publish 9M in fees for low-income apts. Two new apartment buildings in lower Manhattan won't be required to set aside units for low-income tenants, even though they're getting federal help through Liberty Bonds. Instead, the city will charge the developers a fee that will generate $9 million, enough to create 225 new units for low-income tenants elsewhere. "It's not perfect. But it's much better than anything the state's offered us," said Bettina Damiani of Good Jobs New York, a group critical of THE REAL THING subsidies for business. The government created Liberty Bonds as part of a $20 billion aid package to the city after the terrorists attacks. The bonds allow developers to borrow cheaply for downtown projects, encouraging them to build. The two latest projects belong to Henry Elghanayan's Rockrose Development and the Moinian Group. Rockrose plans a 650- not keen on around the world for $8 million. At the same time, a U.S. News & World Report spokesman said the mag is interested. Time and People, both owned by Time Inc., appear to be the other likely contenders. Their level of interest may depend on how much Clinton reveals about her White House years and marriage. Newsweek editor in chief Richard Smith told The News: "It's fair to say that, given our significant spending on Iraq and other international coverage, we're looking very carefully at any spending on optional items." Meanwhile, more than a month before the book's release, there was evidence of why Simon & Schuster ordered a million-copy printing. At online bookseller Amazon.com, "Living History" was ranked No. 2,630 in orders apartment, 51 -story tower on Gold Street between Piatt Street and Maiden Lane. Joseph Moinian will build a 386-apartment, 26-story building at 90 Washington St., at Rector Street. Some Liberty Bond projects fall under the state's power, but these two fall under the city. The state requires buildings set aside 5 of the apartments as "affordable" housing. The city is taking another route. According to a spokeswoman for the city's Housing Development Corp., requiring below-market rents would make it impossible for developers to pay off their loans. "It's just not feasible unless there are other subsidies," said L J . t1 inn ; itii hm'u'M" t'M")" niimmmi'"HM t H M It I 1 i BOW JONES 31.38 8,502.99 SDH excerpts late Monday, the day Simon & Schuster announced the on-sale date and title. By late yesterday, the book stood at No. 73. The rival BN.com showed the book at No. 618,267 on Monday, but up at No. 13 yesterday. For the online booksellers, these are real sales already made with credit cards. Book Revue, a bellwether independent store in Huntington, L.I., has ordered "several thousand" copies, according to co-owner Richard Klein. By contrast, unsold copies in stores can be returned to the publisher. "Sen. Clinton will sign books on June 24, but even if she weren't coming, I would have ordered a lot of copies," he added. "She inspires a great deal of interest and I think it's going to be a powerhouse book." A publisher faces a big risk with a huge printing, as Random House was reminded in 1996. Bill Clinton's "Between Hope and History," a collection of political views released on the eve of his reelection campaign, became a best-seller and then a big flop. Of the 500,000 copies printed, 425,000 remained unsold at the end of the year. Tracy Paurowski. The city asked the Lower Manhattan Development Corp. to provide additional subsidies to make low-income units feasible for these buildings, she said, but has not received a reply. An LMDC spokesman did not respond to a request for comment. The 5 "affordable" apartments required by the state might not be so affordable. In the Related Companies' new Liberty-Bond-funded building in Battery Park City rents on "affordable" units will range from $1,700 to $2,400 a month. HEARST HOUSE The Hearst Corp. kicks off construction of its $500 million, 36-story add-on to its corporate headquarters today. The project will add a futuristic glass-and-steel tower atop Hearst's 76-year-old stone landmark. London architect Norman Foster designed the addition, which will transform the squat, six-story building into a 42-story office tower. Foster ranked among the acclaimed architects tapped last year to submit de r 5.3 NASDAQ'" 9.06 1,471.30 'J I ' (3 ' (I I Sen. Hillary Clinton's June 9, but Simon & Schuster f v I i i 4 ' tlL J U sign proposals for Ground Zero but was passed over in favor of Daniel Libeskind. Some 200 employees have already started vacating the building, 959 Eighth Ave., at W. 57th St. Good Housekeeping the magazine and its famed "institute," where products are tested for the seal of approval moved to another Hearst building, 250 W 56th St. Top Hearst execs will move to the 10th and 42nd floors of 1345 Sixth Ave., at W. 54th St. PICTURE PLACE Photographer Timothy White just sold his townhouse studio, known as "Whitespace," on W 37th Street near the Javits Center. The price: $5.85 million. White is known for his celebrity shots, and his book "Portraits" features an introduction by Harrison Ford. Diane Abrams and Christopher Infante of Brown Harris Stevens represented White, while Anne-Brigirte Sirois of the Lerner Group acted for the buyer, an artist. Eherman(a edit.nydailynews.com S'&P 500j 3100 1 917.84 SUSAN WATTS DAILY NEWS "Living History" goes on sale has no bids yet for excerpt. I iV, 4V: 1 .1) -3a i ' ''jf" -1 ; v ' J Wv .r'fc'.- t. i V- '. I, ? (yrrrn v 1 LtfFPi' h 1 i'fc t hi mini Rendering of $500 million addition to Hearst building at Eighth Avenue and W. 57th. ii 3 erJ . ot -t)1

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