Tishman Speyer

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Tishman Speyer Properties
Type Private
Industry Real estate
Founded 1978
Founders Jerry Speyer and Robert Tishman
Headquarters 45 Rockefeller Plaza
New York City
, United States
Area served International
Key people Robert Tishman (1916–2010) (Chairman)
Jerry Speyer (CEO)
Rob Speyer (President, Head of New York)
Katherine Farley (SMD Emerging Markets)
Michael Spies (SMD Europe,India)
Services Land development
Property management
Fund management
Employees 1,600
Website Official Site

Tishman Speyer Properties is a real estate building and operating company set up in 1978 by two founding partners, Robert Tishman and Jerry Speyer.

Overview[edit]

Tishman Speyer is one of the leading owners, developers, fund managers and operators of real estate in the world, having managed a portfolio of assets since its inception of more than 77,000,000 square feet (7,200,000 m2) in major metropolitan areas across the United States, Europe, Latin America, and Asia. It stands at the center of a recent real estate debacle, the purchase and subsequent forfeiture of its $5.4 billion assets, Peter Cooper Village and Stuyvesant Town in New York City.[1]

Tishman Speyer’s properties include such well-known icons as New York City’s Chrysler Building, Rockefeller Center, and CitySpire Center. Internationally, Tishman owns São Paulo’s North Tower. They previously owned London’s Millbank Tower and are currently the property manager of the building. Their most recent project in London is the reconstruction of Fleetway House, now known as Nexus Place. In 2007 they sold the Lipstick Building in New York.

Since 2005 Tishman has been in three of the biggest real estate deals in United States history:

  • Sale of 666 Fifth Avenue for US$1.8 billion the biggest single building deal in the history of the U.S.[2]
  • Purchase of the MetLife Building for $1.72 billion which was the previous record.
  • Purchase of Stuyvesant Town and Peter Cooper Village for $5.4 billion, consisting of 80 acres (320,000 m2) of prime Manhattan land that includes 110 buildings and 11,232 apartments. It is the biggest single-property real estate deal up to this time[when?] in U.S. history. In January 2010 Speyer lost the property to a loan default, losing investors billions of dollars.[3]

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