Tishman Speyer

Tishman Speyer takes a 150-year ground lease from Cooper Union on the Chrysler Building site and commits $235M to upgrades, about $227 per sq ft of building.

Manhattan's conversion wave has been office to apartments. The owner of Rockefeller Center is taking the other exit, and the filing prices it to the dollar.

The city record on block 233 holds a full basis reset, plus a Blackstone loan that changed hands fourteen months before the building did.

Counted from the Buildings Department file, the private bid pipeline is forming inside buildings that already exist.

Tishman Speyer sold its fully leased 138,000-SF Mountain View office to Spear Street Capital for $121.5M ($876/SF), a 24-year hold since it built the tower.

The lenders underwrote leasing momentum and sponsor strength over a clean occupancy stack, on a complex where nearly half the rent roll turns over during the loan term.

Tishman Speyer is asking $450M, or $584/sf, for 6 Grand Central. Its last office trade, CitySpire, closed six months ago at $364/sf.

A new luxury brand repurposes space inside 10 Rockefeller Plaza for the complex's first-ever hotel.