Kiehl’s Since 1851 and Art Production Fund Present Seated Ballerina by Jeff Koons on view May 12 – June 2, 2017 at Rockefeller Center

Koons Seated Ballerina 1

 

Seated Ballerina promises to offer one of those unforgettable New York experiences that will be remembered for years to come.

See the press release for more information

The New Manhattan Office Trend: Penthouses

“An Art form we have been evolving for decades,” Rob Speyer, Tishman Speyer’s Chief Executive remarked when considering how Tishman Speyer continues to uncover value at its assets. Keiko Morris at The Wall Street Journal recently wrote about 2 midtown projects. The first at 200 Park Ave, Tishman Speyer was able to leverage new technology and move machine rooms to develop a spectacular, 24,000 square foot penthouse on the 58th floor.

Tishman Chief Executive Rob Speyer spearheads a new initiative: Penthouses built by tapping undeveloped space, unlocking additional real estate value.

The second project currently in development on the 43rd floor of 520 Madison Ave will more than double the 7,100 square-foot space once dedicated to mechanical equipment and build a 21,000 square-foot penthouse with a 2,200 square-foot terrace and views of Central Park.

“Typically, the penthouse additions feature high ceilings, tons of light through glass facades or large windows and connecting outdoor space. Landlords often have to be creative in finding the space to build these structures, sometimes moving mechanical equipment to another part of the building, tapping undeveloped space or transferring air rights from adjacent lots”, said real-estate lawyer Jonathan Mechanic in the Wall Street Journal article published on April 16th, 2017.

These renovations are never simple, considering their logistical scope, and without disrupting the tenants in the building, however finding and creating these types of opportunities are part of the fabric of the Tishman Speyer culture.  “We’re always looking around the corner and pursuing ways to unlock additional value,” Rob Speyer told the Wall Street Journal.

The penthouse at 200 Park Avenue was quickly leased and it is anticipated that the 520 Madison Avenue penthouse with a terrace will draw significant interest as well.

“These office penthouse additions are part of a broader push by owners to carve out more dynamic amenity spaces to appeal to tenants looking to embellish their brands and recruit top employees”, said Brian Waterman, vice chairman at real-estate-services firm Newmark Grubb Knight Frank in the Wall Street Journal article.

Of the 200 Park Avenue Penthouse, “You feel like you can reach out and grab the spire of the Chrysler Building,” said Tishman Chief Executive Rob Speyer. This is certainly a unique amenity and has an appeal that is unparalleled.

The New Manhattan Office Trend: Penthouses (2017) by Keiko Morris. Retrieved from: https://www.wsj.com/articles/the-new-manhattan-office-trend-penthouses-1492344000

Tishman Speyer is bringing world-class office space to Downtown Brooklyn.

The New York Times previews our development in Downtown Brooklyn.

 

 

 

Work-Life Balance at Rockefeller Center

 

zo-home

Our most important job is to serve the people who work in our buildings each and every day. Studies have shown that a healthy work-life balance boosts employee productivity and creativity.  Today, we introduced Zo, a suite of services for all our tenants, regardless of their company size.

Read more at the Wall Street Journal.

 

Rockefeller Center Christmas Tree Lit

The Rockefeller Center Christmas Tree was officially lighted for the season on November 30, as Mayor de Blasio, along with Alec Baldwin and Kate McKinnon, flipped the switch to illuminate the 50,000 multicolored lights adorning the 94-foot tree.

The Christmas tree will be on display at Rockefeller Center from 5:30 a.m. to 11:30 p.m. every day through January 7. The tree will remain lit for 24 hours on Christmas Day.

2016 Rockefeller Center Christmas Tree Lighting

 

Rockefeller Center Christmas Tree Arrives

The holiday season is beginning in New York City, as the Rockefeller Center Christmas tree arrived this weekend following a 170-mile journey from the upstate New York town of Oneonta. The 94-foot-tall Norway Spruce was donated by Graig and Angie Eichler, and arrived in Manhattan on November 14.

The Rockefeller Center Christmas tree is a New York City institution, with the tree first going up in 1931. Since then, the tree has become an iconic New York City tradition. This year’s tree is between 90 and 95 years old and weighs 14 tons, and it will be illuminated by 45,000 LED lights linked by 5 miles of wire.

The 84th Rockefeller Center Christmas Tree Lighting ceremony will take place during a live television broadcast on Wednesday, November 30. The tree will stay on display until January 7, when it will be milled into lumber to be used by Habitat for Humanity.

 

Tishman Speyer Central To Long Island City’s Evolution

As The Wall Street Journal reported this week, more than 11,000 condominiums and rental apartments have been built in the Queen’s neighborhood during the past decade, fueling the need for more high-quality office and retail spaces to support the new residents.

Tishman Speyer is playing a major role in the continued development of the area, building three apartment towers in addition to the massive office and retail space in Long Island City.

Elizabeth Lusskin, president of the Long Island City Partnership, a local development organization, told the Journal: “The Tishman project is the cornerstone of this next phase of Long Island City in the sense that you are finally getting large scale new office creation for a market that is desperate for it.”

The 43,000-square-foot office and retail development consists of two 27-story office towers, a four-story retail building, numerous restaurants and a 1.5-acre park on the roof. Construction is set to begin in early 2017 and be completed in 2019.

For more information on Long Island City’s continued development and transformation, read the Wall Street Journal’s story: In Queens, Residential Development Is Fueling Commercial Demand.

Real Estate Board of New York’s 120th Annual Banquet

In January, Rob Speyer spoke at the Real Estate Board of New York’s 120th Annual Banquet, where discussion focused on the city’s need for new developments that will foster continued economic growth and job creation.

“A new study by New York City Economic Development Corporation found that we need more office space — a lot more,” Speyer stated. “We’ve asked leading public and private sector experts to give their views on the state of the commercial real estate market, and what NYC needs to do to maintain our edge as a 21st century global economy.”

From 1960-1975, there were 169 new buildings that lent 110 million square feet in office space in New York City; from 2000-2015, only 35 new office buildings were built.

 “As a city, and as an industry, we are making great strides in expanding our commercial districts and modernizing our office inventory, but more work needs to be done,” said Speyer. “Even as Hudson Yards and the new World Trade Center reshaping our skyline, we must push ahead with Midtown East rezoning, and we must continue to nurture emerging commercial markets.”

Watch the full REBNY video below:

Rob Speyer: Offices Of The Future Will “Look Like A Starbucks”

Speaking at the Global Alternative Investments Insights 2015 Conference, Rob Speyer discussed how recent changes in office environments are impacting real estate development.

“People want to work more closely together,” Speyer said. “They like to work in teams, they want to collaborate, they want to have the same kind of energy that we feel at this conference. They want to connect. Now, this is a powerful culture shift.”

Speyer discussed how the corner office is a dream of past generations of workers, not of the future. In 1990, an average worker occupied 300 square feet; today, that same worker occupies less than half of that.

“We are building a contemporary warehouse building in a major city in the U.S and an old line consulting firm is looking to rent the whole thing,” he said. “This would’ve been unthinkable five years ago. That company would have only considered a typical office building with a glass façade, but times are changing.”

Watch the clip in full below:

Rob Speyer talks the future of transportation in cities

In a speech at the Urban Land Institute’s 2016 Asia Pacific Summit in Shanghai, Rob Speyer discussed the important connection between transportation and real estate in cities across the world.

With an enormous number of people expected to move to cities in the future, mayors are in a unique position to craft smart, sustainable transportation policies – and Speyer noted that connectivity is key.

“Inspired by China’s high-speed rail, L.A. Mayor Eric Garcetti came right here, to Shanghai, to learn how to move more people, in less time, with fewer cars,” said Speyer. “Shanghai is where Garcetti learned how to cut congestion and the air pollution that’s been suffocating L.A. for decades. The reason why the mayor has created a plan to build thirty-two miles of subways in L.A.—get the locals out of their cars and into city trains.”

“In just two decades, L.A. hopes to cut the use of private cars by 1.7 million miles each day. That’s the equivalent of six daily trips to the moon and back. It’s a winning formula. Fewer cars, less exhaust, faster trips, and it will mean a boost in real estate values.”

Speyer explained how real estate and transportation are becoming more connected every day and commended the mayors of Shanghai, Los Angeles and Rio de Janeiro for their foresight on these issues.

“So where does this lead us? If the 20th century was about driving more cars, the 21st century will be about getting those cars off the road,” said Speyer. “Where cars once helped cities to thrive and to grow, too many cars are threatening to choke that growth. That’s why in cities like Shanghai, Shenzhen, L.A., and Rio, the car of the future has become the train.”

“Transportation has always been a big part of real estate. But as more and more people jam themselves into fewer and fewer cities, transportation will become inseparable from real estate. That means get ready for more deals like the one between Vanke and Shenzhen Metro. And it also means, that what was once viewed as a perk —safe, reliable access to transportation— is becoming a requirement.”

Watch Rob Speyer’s whole speech, which can be viewed below: