Tishman Speyer
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| Type | Private |
|---|---|
| Industry | Real Estate |
| Founded | 1978 |
| Founder(s) | Jerry Speyer and Robert Tishman |
| Headquarters | 45 Rockefeller Plaza New York City, United States |
| Area served | International |
| Key people | Robert Tishman (Chairman) Jerry Speyer (CEO) Rob Speyer (President, Head of New York) Katherine Farley (SMD Emerging Markets) Michael Spies (SMD Europe) |
| 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, Jerry Speyer and Robert Tishman.
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[edit] Overview
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 used to own London’s Millbank Tower and are still the property manager of the building. Their most recent project in London is the reconstruction of Fleetway House, now known as Nexus. 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 in U.S. history. In January 2010 Speyer lost the property to a loan default, losing investors billions of dollars.[3]
[edit] See also
[edit] References
[edit] External links
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Wikimedia Commons has media related to: Tishman Speyer |
- Official Site
- Megadeal: Inside a Real Estate Coup A December 31, 2006, New York Times article analyzing the purchase of Stuyvesant Town and Peter Cooper Village in Manhattan.
