This month, the Downtown Alliance, an organization dedicated to improving the quality of life in Lower Manhattan, released a report on the economic growth and opportunity in the area. The report outlines expected growth over the course of the next five years, and investments made in the area post-9/11.
Some advances discussed in the report include:
- Forecasted new job growth of over 45%:
- In recent years, Lower Manhattan has seen an uptick in jobs in professional and business services, technology and media. The area is well positioned to garner a significant share of this growth through 2019.
- New buildings in Lower Manhattan aid in drawing businesses to the area:
- 1 World Trade Center and 4 World Trade Center became available in the Fall of 2014, and 63% of the available office space was leased within the first quarter of 2015. With 3 World Trade Center scheduled for occupancy in 2018, there will be an increase of over 2 million square feet available for rent. By the end of 2019 these buildings alone will have increased the number of people employed in Lower Manhattan by over 17,000.
- Hotel development means added tourism:
- There are 23 hotels scheduled to open in Lower Manhattan between 2015 and 2018. This not only increase tourism to the area, but will also bring an estimated 3,000 hospitality jobs.
For more information, the full report can be read on the Downtown Alliance’s website.
Posted by robspeyer on November 25, 2015
The Real Estate Board of New York recently honored 15 of its members at the 27th Annual Residential Deal of the Year Awards and Gala – recognizing those who have made significant contributions to the field. This was also the first year that REBNY introduced The Eileen Spinola Award, named for the retired REBNY Vice President who was instrumental in the growth of the education and brokerage divisions of the board.
The inaugural winner of the award was Vickey Barron of Douglas Elliman. Barron, Director of Sales at the new Ralph Walker collection, played a key role in the overall growth of the company’s new development market in the city. In addition, she made contributions to REBNY as the co-chair of its education committee, while also serving on both the Ethics Committee and Residential Sales Council.
The top honor of the evening was the Henry Forster Award for lifetime achievement, which was presented to Corinne Pulitzer of Douglas Elliman Real Estate. As a top producer at Elliman, Pulitzer sells and leases luxury condos, co-ops, townhouses, commercial and investment properties and has closed tens of millions of dollars in transactions over the course of 20 years. Pulitzer is currently the Co-Chair of the REBNY Membership Committee.
A portion of the proceeds from this year’s Gala were donated to REBNY’s “Member in Need” program, as well as the New York City AIDs Memorial. More information on this year’s award recipients can be read at Real Estate Weekly.
Posted by robspeyer on November 13, 2015
Rob Speyer spoke at the Urban Land Institute’s Fall Meeting in October of 2014. In Global Cities: The Developer’s Perspective, Speyer said that cities are more important than ever in bringing people together. A video playlist featuring clips from Speyer’s speech can be viewed below:
More information about ULI’s Fall meeting can be found at uli.org.
Posted by robspeyer on September 15, 2015
Tishman Speyer has recently unveiled plans for its upcoming Anthony’s Pier 4 project in Boston, Mass. Renderings can be seen below and on Rob Speyer’s Facebook page.
Tishman Speyer; rendering of Pier 4 – Harbor View
Tishman Speyer; rendering of Pier 4 – View from Water
Tishman Speyer; rendering of Pier 4 – Roof
Posted by robspeyer on August 25, 2015
Macy’s and Tishman Speyer announced today that the two companies will partner on an expansion of Macy’s Fulton Street store in Downtown Brooklyn, adding 10 floors of office space to enrich a key retail space in one of Brooklyn’s fastest-growing neighborhoods.
“As developer, owner and operator of such New York City icons as Rockefeller Center and the Chrysler Building, we are thrilled at the opportunity to partner with Macy’s for our first-ever project in Brooklyn,” said Tishman Speyer Co-CEOs Jerry Speyer and Rob Speyer said in a statement. “We believe this partnership will produce a transformative mixed-use development in one of the nation’s foremost destinations for today’s creative workers and new economy companies.”
Under the plan, the store’s interior will be completely revamped and supplemented office space featuring high 16-foot ceilings and a variety of outdoor spaces. In addition, Tishman Speyer will take over a Macy’s parking garage on Hoyt Street, with the potential for more development on the site.
The remodeled store at 422 Fulton Street will be the flagship of a new fashion hub, serving shoppers from Dumbo all the way to Manhattan Beach. The newly remodeled store will have higher windows to let in more natural light and better match the industrial spaces in the area’s immediate surroundings. Each floor, in turn, will be expanded to allow for new brands, enhancing the overall customer experience. Construction will begin in 2016 and is expected to be complete by the fall of 2018.
Posted by robspeyer on August 12, 2015
Tishman Speyer unveiled renderings on August 4 of its new mixed-use project in Boston’s Seaport District, which co-CEO Rob Speyer said he hopes will be the “brightest jewel” of the city’s waterfront.
“Our goal at Pier 4 is to create the brightest jewel of the Boston waterfront,” Speyer said. “This will be a project entirely worthy of one of the world’s great cities.”
Tishman Speyer’s plans call for a nine-story, 100-unit condo building, which will incorporate 16,800 square feet of retail and restaurant space on the ground floor. The building is being jointly designed by SHoP Architects and CBT Architects.
The project will also include a 1-acre public park with waterfront access and a plaza with space for performances and dining.
Read more at Boston Herald and Boston Business Journal.
Posted by robspeyer on August 5, 2015
Tishman Speyer co-CEOs Jerry Speyer and Rob Speyer announced today that the company has acquired the Quartier 205 building located in the heart of Berlin.
“We are thrilled to once again be in ownership of Quartier 205, a building that we originally developed to serve as a dynamic mixed-use experience comprising working, living and shopping in the historical center of Berlin,” said Jerry Speyer and Rob Speyer. “This acquisition also constitutes our re-engagement with the Berlin real estate market, where we began over 25 years ago, and we look forward to widening our presence in this vital city in the years to come.”
Designed by the architect Oswald Mathias Ungers, Tishman Speyer originally developed and built the property following the fall of the Berlin Wall. It was completed in 1995 and contains 52,500 square meters of office, retail and residential space.
Posted by robspeyer on August 3, 2015
On July 23, Mayor de Blasio, the Mayor’s Fund to Advance New York City and the Department of Youth & Community announced that the city has more than doubled the number of positions available through this summer’s Ladders for Leaders program, which has provided paid internships to young New Yorkers since 2006.
This year, Ladders for Leaders has provided more than 1,000 New York City youth between the ages of 16 and 21 with professional internships, up from 475 in 2014. The effort was fueled by more than $2.2 million in financial support from private employers who responded to the city’s call for action.
Companies from across a variety of sectors in New York City, from financial services companies including Bank of America to major businesses such as Tishman Speyer, are hosting interns this summer.
“Tishman Speyer is proud to support the Ladders for Leaders program and to welcome a new group of exceptional interns this summer,” said Rob Speyer. “The tremendous success of the Ladders for Leaders program is yet another example of the power of public-private partnerships to create an even greater New York.”
Posted by robspeyer on July 24, 2015
In his prepared keynote address to the Urban Land Institute’s Urban Leader Summit in Frankfurt, Germany, Rob Speyer told attendees that Rockefeller Center represents a “happy building” because “more than just joining bricks with mortar, it connects people with other people.”
“So what makes Rockefeller Center so happy?” Speyer asked the summit’s audience. “It’s not the architecture, though the design is stunning. And it’s not the priceless artwork embedded in the Indiana limestone. It’s not Atlas. It’s not Prometheus. It’s the people there and the reason they come.”
Speyer continued: “Some come to work. Others come to ice skate, or to see the Christmas tree, or to go ballroom dancing or watch a show or eat at one of the great restaurants. In other words people from New York and from around the world come to Rockefeller Center to work and to have fun. And to connect. And all of this on top of one of the city’s busiest subway stops.”
“Rockefeller Center is happy because more than just joining bricks with mortar, it connects people with other people,” he noted. “And those 2-and-a-half-billion people coming to our cities are going to look for happy buildings that connect them with each other.”
Speyer added that while Tishman Speyer is “lucky to own” Rockefeller Center, the “brilliance of the original vision” belongs to the Rockefeller family.
“They bet their entire family fortune, at the depth of the Great Depression, and set the standard for mixed-use development we use today — 80 years later,” Speyer said of the Rockefellers. “Described another way, they connected before connectivity was cool – or even a word.”
Global Cities: The Developer’s Perspective by Rob Speyer
Video: Rob Speyer’s speech at the 2015 Global Alternative Investment Insights Conference
Posted by robspeyer on July 21, 2015
Jerry Speyer and Rob Speyer announced on July 7 that Tishman Speyer has acquired adjoining properties in Washington D.C.’s central business district. The properties, located at 2020 and 2030 M St. NW, will be redeveloped in two phases.
“Tishman Speyer has had a major presence in the nation’s capital for many years, and that will be the case for years ahead,” Jerry Speyer and Rob Speyer said in a statement. “We continue to look for opportunities to develop world-class office properties around the globe, and we are currently active in major cities across four continents. As the portfolio grows, the firm is providing notable companies with the space they need to do business, often in multiple locations.”
The properties will accommodate a new D.C. bureau for CBS as well as a multiple-tenant office building, and both will be designed and built for LEED certification. Redevelopment of the properties is expected to begin in 2016 and be completed in 2019.
To read more visit:
Posted by robspeyer on July 8, 2015