Tishman Speyer has acquired 200 apartments in downtown Montclair for more than $96 million adding a building that opened in 2021 as part of a high-profile redevelopment project Brokers with CBRE arranged the transaction at 2 South Willow St. a 172,279-square-foot property that is one block from the acclaimed Wellmont Theater Tishman Speyer now intends to upgrade the building’s lounge with plans to also reorient the lobby and add a coworking lounge and pet washing station Eric Apfel and Travis Langer represented an undisclosed seller in the $96.15 million deal “Two South Willow offers an elevated customer experience curated with high-quality modern finishes robust amenities and a dynamic mix of restaurant and experiential retail offerings all set within a premier New Jersey town with direct transit to Manhattan,” Tishman Speyer Managing Director Albert Schmool said “We are proud to be stewards of this community of high-quality homes — a strong addition to our growing residential portfolio and a part of our core-plus investment strategy.” Tishman’s acquisition of Two South Willow is the latest addition to a growing national and international residential platform that already included holdings in New Jersey the firm announced that it secured full financing and will begin commence construction on 50 Hudson St the second of a two-tower development that will bring more than 2,000 apartments some 70,000 square feet of retail space and a roughly 32,000-square-foot plaza to the city’s waterfront it has acquired 1,800 units across five residential communities in New Jersey It has also commenced construction on some 4,000 rental units during that time in mixed-use projects in the U.S Developers launch leasing at 200-unit luxury rental project in Montclair arts district has been covering New Jersey commercial real estate for 13 years Many industry leaders view him as the go-to real estate reporter in the state a role he is eager to continue as the editor of Real Estate NJ He is a lifelong New Jersey resident who has spent a decade covering the great Garden State Greek Real Estate Partners has gained a seal of approval for one of its key divisions thanks to a new accreditation from the Institute of Real Estate Management All RIGHTS RESERVED Copyright 2023 Real Estate NJ 101 Eisenhower Parkway Roseland Our site uses cookies. Learn more about our use of cookies: cookie policy TrendingCommercial New YorkATishman Speyer in talks to buy Soho office for around $120MDeal would mark landlord’s first Manhattan office buy since 2019 Listen to this article00:001xTishman Speyer is in talks to buy a Midtown South office building for north of $100 million — a deal that would be the mega landlord’s first Manhattan office buy in recent years Tishman, led by CEO Rob Speyer is in talks to buy the 150,000-square-foot building at 148 Lafayette Street in Soho for around $120 million which has backed startups like Airbnb and Stripe signed a lease at the building last month for more than 42,000 square feet Steven and Michael Elghanayan’s EPIC bought the property in 2012 for $126.5 million A spokesperson for Tishman declined to comment and a representative for EPIC did not immediately respond to a request for comment A Newmark team led by Adam Spies and Adam Doneger has the listing would mark a notable return to the Manhattan office market for one of the city’s biggest office owners Tishman’s last office investment came in 2019 when it acquired a long-term lease on the Morgan North U.S The company has been busy developing the 2.8 million-square-foot Spiral office building near Hudson Yards and has been buying offices in other markets such as London Austin and Paris — while also diversifying into areas like industrial and multifamily But the Soho deal would add Tishman’s name to the list of investors who’ve recently jumped off the sidelines and back into a Manhattan office market that had gotten frothy for some of the biggest investors © 2020 THE UNIVERSITY OF TOLEDO • 2801 W A - Z List | Careers | Report a Concern | Nondiscrimination | Accessibility | Web Privacy | Feedback | Contact Us a global real estate investment firm managing NPS's entrusted assets is opening a liaison office in Jeonju and commencing operations This marks the second time an international real estate asset management firm has established an office in Jeonju. attended the opening ceremony of Tishman Speyer's Jeonju liaison office on the afternoon of the 24th of March in Manseong-dong The event was also attended by Tishman Speyer's CEO Co-Head of Global Equity Capital Markets; Graham Mackie Head of Asia ex-China and India; and Alex Koh The establishment of a Jeonju liaison office underscores Tishman Speyer's commitment to strengthening its long-term partnership with NPS as well as its capabilities in South Korea and the Asia-Pacific region. Through this office Tishman Speyer will provide strategic support to NPS including identifying global real estate investment opportunities across diverse sectors and offering in-depth capital market analysis and advisory services "Our partnership with the National Pension Service has been driven by our shared commitment to innovation and diversification," said Tishman Speyer CEO "Establishing Tishman Speyer's first Jeonju office is the natural next step in our long-standing relationship with NPS." we now have a stronger foundation for close collaboration with Tishman Speyer we look forward to Tishman Speyer working more closely with the pension fund and contributing to the development of the local community." With roots in a family business dating back over a century operator and investment manager of top-tier real estate in 37 key markets across 11 countries with over 1,200 professionals managing a total of approximately $65 billion in assets The company has been entrusted with managing NPS's real estate investment assets since 2011 Tishman Speyer today announced that the firm has refinanced The Spiral Tishman Speyer today announced it has successfully refinanced its iconic Rockefeller Center campus via a $3.5 billion CMBS loan Banking & Financial Services Real Estate Corporate Expansion Do not sell or share my personal information: Tishman Speyer has secured a $331 million construction loan for a 924-unit apartment tower in Jersey City the second piece of a two-phase development along the Hudson River global investment group CDPQ provided the financing in connection with the project at 50 Hudson St That paves the way for a construction schedule that’s slated to conclude in 2028 when Tishman will deliver the 40-story tower with a mix of studios one-bedroom and two-bedroom homes with sweeping views of New York Harbor the Jersey City’s Paulus Hook neighborhood the Statue of Liberty and the Manhattan skyline Plans also call for upscale indoor and outdoor amenities an expansive public plaza and 10,000 square feet of street-level retail space “50 and 55 Hudson are designed to complement and enhance the Jersey waterfront additional shops and activated public outdoor spaces for the entire community to enjoy,” said Erik Rose a senior managing director with Tishman Speyer The firm is also progressing on construction of the project’s first phase at 55 Hudson St. which will include a 58-story tower with 1,017 rental units some 60,000 square feet of new street-level retail and 75,000 square feet of indoor and outdoor amenities That building is slated to open in early 2027 The design team for the project includes Handel Architects landscape architects Hollander Design and Melillo Bauer Carman and interior designer Michaelis Boyd A joint venture of Noble Construction and Hunter Roberts will serve as the general contractor for 50 Hudson Tishman added that each building will be outfitted with Energy Star-certified appliances and seek Fitwel Certifications The Hudson-Bergen Light Rail and ferry service to Manhattan Tishman Speyer acquires land beneath planned two-tower, 1,941-unit rental project Tishman Speyer Has Successfully Refinanced Nearly $6.4 Billion in Manhattan Office Properties in Less Than Three Months 2025 /PRNewswire/ -- Tishman Speyer today announced that the firm has refinanced The Spiral The Spiral is 94 percent leased two years after its opening fixed-rate loan is led by JPMorgan Chase with Bank of America Tishman Speyer has now successfully secured nearly $6.4 billion in refinancings on two marquee New York City office properties in less than three months Tishman Speyer closed on a $3.5 billion CMBS loan for its legendary Rockefeller Center campus the largest issuance ever for a single office asset. "We are exceptionally proud of The Spiral and pleased to deliver value for our investors," said Tishman Speyer CEO Rob Speyer The Spiral and Rockefeller Center demonstrate that premier properties with the right amenities strong occupancy and established sponsors continue to outperform the market." Tishman Speyer commenced construction on the 2.8 million-square-foot Spiral in June 2018 the world's pre-eminent biopharmaceutical company Tishman Speyer has subsequently filled the tower with leading companies from a wide array of industries. one of the world's largest banking and financing services organizations Other prominent companies that have relocated to the tower include TPG Global Turner Construction and Marshall Wace. The Spiral rises 1,031 feet and features a cascading series of landscaped terraces as its signature element The terraces ascend one per floor in a spiraling motion to create a unique continuous green pathway that wraps around the façade of the tower supplying its occupants with readily accessible fresh air and outdoor space All customers at The Spiral enjoy access to the ZO Clubhouse a premier amenity center and lounge perched on the top floor of the 66-story tower The Clubhouse features an open-air terrace food and beverage service by the critically acclaimed team behind Llama San and Llama Inn Tishman Speyer has devoted the entire 23rd and 24th floors to its Studio co-working platform along with its Studio Gather conference center and Studio Private flexible office product Tishman Speyer also recently introduced Spiral Suites with high-end prebuilt offerings ranging from 7,000 square feet to a full floor of 48,000 square feet The suites feature custom layouts and furnishings and large windows for light-filled workspaces Customers have full access to outdoor space and all tower amenities The Spiral will be animated at street level by Papa San a restaurant showcasing Peruvian-Japanese cuisine as well as two new dining concepts from two-Michelin-starred chef Gabriel Kreuther NewYork-Presbyterian's Och Spine outpatient center and HSBC's flagship wealth center are located at the base of the tower About Tishman Speyer (tishmanspeyer.com) operator and investment manager of first-class real estate in 36 key markets across the United States Our portfolio spans market rate and affordable residential communities premier office properties and retail spaces We create state-of-the-art life science centers through our Breakthrough Properties joint venture and foster innovation through our strategic proptech investments on-the-ground expertise and a personalized approach quickly adapt to global and local trends and proactively anticipate our customers' evolving needs enlightened placemaking and customer-focused initiatives such as our tenant amenities platform and our flexible space and co-working brand we tend not just to our physical buildings but to the people who inhabit them on a daily basis with a combined value of nearly $128 billion (U.S.) Our current portfolio includes such iconic assets as Rockefeller Center in New York City TaunusTurm in Frankfurt and the Mission Rock neighborhood currently being realized in San Francisco is opening a liaison office in Jeonju and commencing operations... Commercial Real Estate Construction & Building TrendingCommercial New YorkATishman Speyer leasing veteran jumps to NewmarkGreg Conen joins new construction team as brokerage beefs up ranks Listen to this article00:001xNewmark is beefing up its office leasing business by bringing on a longtime Tishman Speyer broker Greg Conen joined Newmark to help grow the firm’s new construction leasing business in Manhattan. He will work alongside top dealmakers Howard Hersch, Steven Rotter and Scott Klau according to a press release from the brokerage Conen’s addition comes as Manhattan office leasing is making a comeback, especially at the top end of the market. Newmark has been hiring talent to try and grab market share across its businesses as things heat up hand-selecting the most talented individuals the industry has to offer,” CEO Barry Gosin said in the press release “We are determined to be in every conversation as a go-to provider in New York City.” SIGN UPAt Tishman, Conen led the development and leasing of the Spiral, a recently-built 2.8-million-square-foot office tower in Hudson Yards. He also oversaw leasing at Morgan North the 630,000-square-foot office and mixed-use redevelopment of a former U.S Commercial Observer first reported news of the hire Conen spent more than two decades working for the mega landlord after graduating from the University of Wisconsin This will be his first foray into the commercial brokerage side Legendary Manhattan Campus Secures Largest Ever CMBS Loan for a Single Office Asset 2024 /PRNewswire/ -- Tishman Speyer today announced it has successfully refinanced its iconic Rockefeller Center campus via a $3.5 billion CMBS loan the largest issuance ever for a single office asset Bank of America and Wells Fargo served as co-lead managers on the five-year Single Asset Single Borrower (SASB) loan with a fixed interest rate of 6.2265 percent The proceeds will be used to pay off Rockefeller Center's previous 20-year $1.7 billion CMBS loan and additional mezzanine financing set to mature in May 2025 and fund reserves for contractual leasing costs The legendary Rockefeller Center was built nearly a century ago as a "city within the city." The 7.3 million-square-foot campus encompasses inspired workspaces as well as dynamic open spaces including the new 24,000-square-foot park atop Radio City Music Hall Rockefeller Center is co-owned by Henry Crown & Co the Crown family's Chicago-based investment fund "We are proud of our stewardship of Rockefeller Center," said Tishman Speyer CEO Rob Speyer "The lending market's overwhelming response speaks volumes about the success of our redevelopment and their confidence in top performing assets." The massive refinancing has been secured as Tishman Speyer's comprehensive redevelopment of the renowned 13-building campus nears completion The expansive reimagining program has cemented Rockefeller Center's status as the most dynamic destination to work "Bank of America is proud to have been able to support Tishman Speyer and lead the refinancing of this most iconic asset," said Jim DeMare President of Global Markets at Bank of America Tishman Speyer's capital improvement program inspired by the Center's original plans and history has restored the intent of the Channel Gardens and Rink areas as grand and welcoming entrance points for the public In early 2020 the firm received approval from the Landmarks Preservation Commission to open the lower-level passageways surrounding the famous Rink creating a light-filled space that prioritizes efficient pedestrian flow and easing access to skating and public art in the center of campus The Rink Level is now home to marquee restaurants from celebrated independent chefs Smith & Mills and others revamped the campus dining experience vaulting Rockefeller Center into the highest levels of the city's culinary landscape Tishman Speyer has similarly pursued a retail transformation at the Center reinvigorating its offerings with beloved and distinctive shops helmed by local entrepreneurs alongside global brands Tishman Speyer has welcomed new retailers such as Todd Snyder the three-level Top of The Rock observation deck has been reimagined to offer new attractions and dramatically enhance the visitor experience a revolving glass-enclosed platform that elevates visitors nearly 900 feet in the air for unrivaled 360-degree views of the New York City skyline and beyond invites visitors to recreate the iconic "Lunch Atop a Skyscraper" photo Companies located at Rockefeller Center have special access to this unmatched ecosystem of restaurants and attractions through Tishman Speyer's pioneering ZO amenity platform Extraordinary spaces available only to those who work in Tishman Speyer buildings include the ZO Clubhouse on the 33rd floor of 1 Rockefeller Plaza as well as Radio Park an exquisite 24,000-square-foot green space on the roof of Radio City Music Hall that has quickly become a favorite destination to relax Rockefeller Center is currently 93 percent leased to such globally renowned firms as Deloitte About Tishman Speyer (tishmanspeyer.com)Tishman Speyer is a leading owner Tishman Speyer Has Now Added More than 1,800 Units to its Portfolio of Existing and Under Construction Residential Assets since 2023 Tishman Speyer today announced its acquisition of Two South Willow a 200-apartment building located in the heart of downtown Montclair Tishman Speyer acquired the 172,279-square-foot multifamily property located at 2 South Willow Street for $96,150,000 it features 180 market rate and 20 affordable units ranging in size from studio to two bedrooms The building boasts street-level retail space featuring a mix of restaurants and arts and entertainment spaces Two South Willow is ideally situated in the center of Montclair a town that offers a unique semi-urban lifestyle in a pedestrian-friendly environment Widely recognized for its thriving arts and culture the town is home to the iconic Wellmont Theater Montclair is in close proximity to both Newark and Hoboken and is less than 40 minutes from Manhattan via NJ Transit all set within a premier New Jersey town with direct transit to Manhattan,” said Tishman Speyer Managing Director Albert Schmool “We are proud to be stewards of this community of high-quality homes – a strong addition to our growing residential portfolio and a part of our core-plus investment strategy.” Two South Willow offers residents a wide range of amenities Tishman Speyer plans to undertake a series of targeted enhancements to the lounge Tishman Speyer also intends to reorient the lobby and add a coworking lounge and pet washing station Tishman Speyer’s acquisition of Two South Willow is the latest addition to its growing national and international residential platform Tishman Speyer announced that it secured full financing and will commence construction on 50 Hudson Street over 70,000 square feet of retail and an approximately 32,000-square-foot plaza to Jersey City’s thriving waterfront Since making its first investment in residential in 1989 the firm has added over 33,000 units of rental apartments and for sale condominiums in the United States Tishman Speyer has more than 9,000 units in its residential development pipeline Tishman Speyer has acquired 1,800 units across five residential communities in New Jersey Tishman Speyer has also commenced construction on approximately 4,000 rental units during this same period in mixed-use projects in the Boston Tishman Speyer’s multifamily acquisitions and developments are designed to serve residents across the income spectrum – from affordable and workforce housing to luxury market-rate rentals About Tishman Speyer (tishmanspeyer.com) operator and investment manager of first-class real estate in 37 key markets across the United States quickly adapt to global and local trends and proactively anticipate our customers’ evolving needs with a combined value of over $129 billion (U.S.) © Copyright 2012 - 2023 | citybiz | All Rights Reserved This website is using a security service to protect itself from online attacks The action you just performed triggered the security solution There are several actions that could trigger this block including submitting a certain word or phrase You can email the site owner to let them know you were blocked Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page By: Vanessa Londono 7:00 am on December 22 Tishman Speyer’s TS Communities will bring a fully-affordable residential building to 160 Van Cortlandt Park South in Kingsbridge TS Communities recently announced it has secured financing and will begin construction in January on the eight-story development designed by Aufgang Architects The development will be built to Enterprise Green sustainable design standards The 279,000-square-foot building will house 339 apartments Fifty-three apartments will provide supportive housing for formerly homeless individuals and 285 units will be designated affordable housing for households earning between 40 percent to 105 percent of Area Median Income (AMI) Resident and community amenities within the development includes a shared laundry room TS Communities closed on approximately $222 million of total financing provided via tax-exempt bonds subsidy loans from the New York City Department of Housing Preservation and Development the New York City Housing Development Corporation The Urban Investment Group at Goldman Sachs Alternatives will provide the letter of credit and Hudson Housing Capital will provide an equity investment from the purchase of low-income housing tax credits Located directly across from Van Cortlandt Park the development site spans an entire city block bordered by Van Cortlandt Park South and is within walking distance to the 1 train and numerous bus lines Construction is expected to be completed in 2027 Subscribe to YIMBY’s daily e-mail Follow YIMBYgram for real-time photo updates Like YIMBY on Facebook Follow YIMBY’s Twitter for the latest in YIMBYnews Looking for low income apartment in Manhattan Tremendous savings on installing and maintaining elevators Almost human scale protects a neighborhood’s integrity ga('send', 'event', 'beautyofblock', 'Impression', 'https://newyorkyimby.com/wp-content/uploads/2025/04/Standard_336x280-100-2.jpg', { nonInteraction: true }); ADVERTISEMENT ga('send', 'event', 'PCRichards Builders Division', 'Impression', 'https://newyorkyimby.com/wp-content/uploads/2025/05/PCR_Beko_Compact_YIMB_336x280.jpg', { nonInteraction: true }); ga('send', 'event', 'yimby+', 'Impression', 'https://newyorkyimby.com/wp-content/uploads/2024/01/image.png', { nonInteraction: true }); Follow on Instagram var sb_instagram_js_options = {"font_method":"svg","placeholder":"https:\/\/newyorkyimby.com\/wp-content\/plugins\/instagram-feed\/img\/placeholder.png","resized_url":"https:\/\/newyorkyimby.com\/wp-content\/uploads\/sb-instagram-feed-images\/","ajax_url":"https:\/\/newyorkyimby.com\/wp-admin\/admin-ajax.php"}; © COPYRIGHT New York YIMBY® LLC YIMBY IS A REGISTERED TRADEMARK OF NIKOLAI FEDAK / NEW YORK YIMBY LLC Douglas Emmett bought a 17-story Westwood office building at 10900 Wilshire Blvd. from Tishman Speyer through a deed-in-lieu-of-foreclosure transaction for $131M The sale price works out to $539 per SF. Tishman faced default on a nearly $123M loan secured by the property, The Real Deal reported A representative for Tishman Speyer declined to comment Douglas Emmett's new office tower sits at the corner of Wilshire and Westwood boulevards across the street from the Hammer Museum and south of the UCLA campus The Santa Monica-based REIT now owns eight buildings in the area Tishman took out a $122.7M loan on the property from Blackstone Mortgage Trust in 2021 It was in special servicing since October over concerns that Tishman would default Blackstone provided Douglas Emmett with $61.8M in financing to buy 10900 Wilshire Vacancy in the West Los Angeles submarket was 24.1% in the fourth quarter The market had positive net absorption of nearly 36K SF in the same period Tishman sold a Beverly Hills office to Faring for $90M You are subscribed to the Bisnow Los Angeles Newsletter or click here to copy link to clipboard We will email you a link to reset your password Upcoming regulations in the European Union require us to show this pop-up and ask you to agree to keep using Bisnow.com We want to take 15 seconds to tell you what's going on: Welcome to IPE Real Assets. This site uses cookies. Read our policy By IPE staff2025-04-14T12:47:00+01:00 Caisse de dépôt et placement du Québec (CDPQ) has participated in a $331m (€291m) financing package for a 40-storey US apartment tower being developed by Tishman Speyer Real estate fund manager Tishman Speyer said it had secured the full construction financing with the Canadian investor as lead investor for the 50 Hudson Street development in Jersey City the second tower in a two-building development along the Hudson River is expected to begin construction this spring with completion targeted for 2028. The tower will offer 924 rental apartments including studios and one-bedroom and two-bedroom homes Tishman Speyer said construction of the first phase at 55 Hudson Street a 58-storey building with 1,017 rental apartments, is scheduled for opening in early 2027 said: “50 and 55 Hudson are designed to complement and enhance the Jersey waterfront and activated public outdoor spaces for the entire community to enjoy.” To read the latest IPE Real Assets magazine click here Copyright © 1997–2025 IPE International Publishers Limited Site powered by Webvision Cloud The deal marks the second largest lease for October. TPG Capital has struck a deal to move its office space into the Spiral property in Manhattan is 94 percent leased and measures 2.8 million square feet Amenities at the Spiral include outdoor space on each floor TPG's move from 888 Seventh Avenue and 245 Park Avenue will give the private equity company a 20,000-square-foot expansion "Combining our New York footprint into this state-of-the-art space is an important component of our real estate strategy and represents our firm's continued growth and evolution," Anilu Vazquez-Ubarri partner and chief operating officer of TPG "Hudson Yards is a hub for leading global businesses and we are delighted to bring our teams together in a space that offers ample opportunity for continued growth Meanwhile Amazon is in talks to sign a major lease and take a 350,000-square-foot space at 452 Fifth Avenue according to a separate report from the Post Multifamily and lodging saw "substantial increases," according to Trepp and continued unpredictable actions will likely negatively affect performance The food and beverage category has accounted for a 27% share of all store-based retail sales for over two years Picking the right renters insurance can be a headache This guide will help you find the perfect partner for your multifamily properties so you can boost resident participation and lower your risk Are you noticing unexpected shifts in office occupancy and commuter behavior This report reveals how evolving work patterns are challenging CRE brokers and offers crucial Discover a detailed analysis of office visit fluctuations real-world examples to inform strategic decisions and actionable metrics to guide client advising Commercial property teams are navigating changing times where technology plays a crucial role in operations based on insights from 370 industry professionals and opportunities for CRE technology adoption in 2025 / For questions about GlobeSt.com, please call 800-458-1734 (9:00am-5:30pm ET, Monday through Friday, except holidays), or send an email to [email protected] Ohio State University has hired the New York-based real-estate firm Tishman Speyer to develop the next phase of "Carmenton," the university's 350-acre development on Lane Avenue and Kenny Road Tishman Speyer will partner with the university's Science and Technology Campus Corporation (SciTech) in developing the next 13 acres in Carmenton SciTech has leased two parcels to Tishman Speyer for the phase which is expected to include housing and restaurants SciTech and Tishman Speyer is the next step in the creation of an innovation district unlike any other,” Amanda Hoffsis “We have very high expectations for Carmenton and its long-term impact on the city of Columbus Next scheduled for the development is the Commercialization and Entrepreneurship Center which helped design Carmenton’s master plan including several campuses such as Carnegie Mellon University and The University of Pittsburgh welcoming and innovative communities that complement and enhance their surrounding neighborhoods,” Tishman Speyer Managing Director Nooshin Felsenthal said in a news release “We are thrilled to bring that dedication to Carmenton and build upon the incredible work of The Ohio State University and SciTech.” Company spokesperson Bud Perrone said the company's Carmenton project "is still early in the planning stage so I don’t have more information to provide at this time other than to confirm that (it) will incorporate residential and retail." Despite its steady growth, the development has hit some roadblocks including delays with the $300-million Combined Heat & Power Plant expected to fuel Carmenton The Ohio State University announced today the next steps in the planning and development of the Carmenton district pending full Board of Trustees approval is a bold new vision for building connections and community and will fuel growth in central Ohio one of the nation’s fastest-growing regions Tishman Speyer previously helped develop Carmenton’s master plan “Partnerships are the foundation of our vision for the future. A vibrant ecosystem is already developing in Carmenton where businesses researchers and our communities are coming together to drive new discoveries and fuel economic growth,” said Peter Mohler executive vice president for the Enterprise for Research “We are excited to move to the next phase of this transformative development in collaboration with Tishman Speyer Carmenton is bolstered by investment – including nearly $900 million of public and private support to date and more than 350 acres of land re-imagined for development the city of Columbus and JobsOhio have come together to accelerate collaboration between the public private and academic sectors in this vibrant new neighborhood that facilitates the exchange of knowledge to help deliver solutions to market and the world Ohio State’s board also reviewed a ground lease from Ohio State to SciTech allowing SciTech to develop infrastructure to expand the district and sublease two vertical development parcels to Tishman Speyer for mixed-use development operator and investment manager of best-in-class real estate in 36 key markets across the United States SciTech and Tishman Speyer is the next step in the creation of an innovation district unlike any other,” said Amanda Hoffsis As a renowned and globally recognized developer we believe Tishman Speyer is the right partner to help deliver on the vision.” It will be a walkable and bikeable neighborhood that will feel like home to the people who work in This outlines the next phases of development including additional interdisciplinary research facilities with a focus on bringing multiple sectors together to exchange knowledge understand problems and develop new technologies or solutions for the market and the world Tishman Speyer has supported the world’s leading companies institutions and cities by delivering more than 77 million square feet of mixed-use development and redevelopment projects globally since 2010 The well-known developer focuses on community-building open spaces and hospitality-infused amenities welcoming and innovative communities that complement and enhance their surrounding neighborhoods,” said Tishman Speyer Managing Director Nooshin Felsenthal Tishman Speyer projects include the redevelopment and ongoing stewardship of Rockefeller Center in New York City and Mission Rock 28-acre mixed-use neighborhood on the San Francisco waterfront developed in partnership with the San Francisco Giants The firm is also partnering with the Harvard Allston Land Company on the Enterprise Research Campus across 14 acres in Allston and with Carnegie Mellon University and The University of Pittsburgh to transform Hazelwood Green a 178-acre former steel-mill site into a global hub of innovation SciTech and Tishman Speyer will begin working on the next phase of Carmenton The next phase of the State of Ohio Adversity and Resilience (SOAR Study) is now accepting participants across western Ohio at Mercy Health – St Students in Ohio State’s Hospitality Management Program put their leadership skills to work by planning the Big Dish event this spring. A little rain didn’t stop the 2025 spring commencement at The Ohio State University As students and loved ones alike pulled out umbrellas and ponchos Marine Corps (Ret.) and NASA administrator from 2009-2017 In a transaction that is scheduled to close later this month, Tishman Speyer and Henry Crown are set to refinance The Spiral with a nearly $2.9B loan package set to be one of the biggest CMBS deals in recent years That package consists of a $2.65B CMBS loan and $200M of nontrust companion notes according to a report by Fitch Ratings obtained by Bisnow The debt would mature in 2030 and is a fixed-rate The loan proceeds will be used to refinance $1.6B of prior debt, made up of approximately $1.4B of construction financing and $216M of EB-5 debt It will also fund more than $220M in upfront reserves for ongoing obligations and about $75M in closing costs The $2.65B bond sale was first reported by Bloomberg Tishman and Crown will cash out approximately $967.2M in equity, according to a DBRS Morningstar report Even after pocketing nearly $1B in the deal the owners still have an estimated $740M of equity in the building The loan is expected to be co-originated by JPMorgan Chase The debt is backed by The Spiral, a 66-story trophy office tower across the street from the Hudson Yards megaproject AllianceBernstein and Debevoise & Plimpton all have their headquarters at the building In October, Tishman refinanced Rockefeller Center with a $3.5B CMBS loan — the largest issuance ever for a single office asset it would mean the New York developer scored more than $6B in financing in a matter of months — all tied to office assets You are subscribed to the Bisnow New York Newsletter By Claudiu Tiganescu Tishman Speyer has signed a 150,000-square-foot lease deal at The Wheeler an 844,378-square-foot office tower in Brooklyn Brooklyn Prospect Charter School agreed to occupy the space for 35 years Newmark negotiated on behalf of the tenant while CBRE alongside a Tishman Speyer-inhouse representative led the proceedings for the owner The new tenant will occupy floors nine through 11 Its new space will feature more than 25,000 square feet of outdoor space a lobby entrance and a gymnasium with a basketball court Brooklyn Prospect is not the only educational institution at The Wheeler Francis College moved its entire campus within the premises occupying floors five through seven for a total of 255,000 square feet READ ALSO: Top 100 Office Leases of 2024 Point to Stabilization Tishman erected The Wheeler atop a historic Art Deco building that contains a Macy’s department store adding 14 stories to the existing structure Floorplates at the LEED Gold-certified property range between 34,000 and 60,000 square feet Bank OZK financed the construction with a $194 million note in 2017 while Starwood Capital Group refinanced the debt with a $164.2 million loan in 2021 and another one amounting to $301 million in 2024 The Wheeler is at 181 Livingston St. and 422 Fulton St. It is within walking distance of Brooklyn’s central business district and also proximate to a plethora of public transit options and parks Newmark Executive Managing Directors Ross Kaplan and Justin DiMare spearheaded the negotiations on behalf of Brooklyn Prospect Tishman Speyer Managing Director Megan Sheehan together with a CBRE team including CEO Mary Ann Tighe and Executive Vice President Gerry Miovski Brooklyn Prospect’s lease topped the borough’s entire fourth-quarter office leasing activity which according to a report by Colliers clocked in at 140,000 square feet That figure stood below the five-year quarterly average of 300,000 square feet While Brooklyn office leasing dropped 30.8 percent year-over-year to 1.3 million square feet in 2024 the borough’s availability rate stood at 21.4 percent as of December marking a 140-basis-point yearly improvement Which Encompasses Hundreds of New Homes and Retail Will Complete First Block of Edgemere Commons Development Tishman Speyer’s TS Communities today announced it has secured financing and will begin construction in April 2025 on its second apartment building at Edgemere Commons in Queens will complete the first full block of the 100 percent-affordable residential neighborhood Tishman Speyer is developing in partnership with New York City and State’s leading housing agencies and the local Far Rockaway community The $166 million in total financing for Edgemere Commons A2 is being led by New York State Homes and Community Renewal (HCR) Citi Community Capital will provide the letter of credit while Hudson Housing Capital will secure an equity investment from the purchase of low-income housing tax credits the 18-story building will feature 244 apartments ranging in size from studios to 3-bedrooms all of which will be affordable for households earning between 40 percent to 80 percent of Area Median Income (AMI) The project will set aside 73 apartments for supportive housing which will be administered by Breaking Ground which is Tishman Speyer’s affordable housing platform will incorporate a variety of amenities at the building including a resident community room on the 2nd floor an outdoor space with an adjoining recreation room on the 4th floor and neighborhood-oriented retail at street level the project will entail the initial construction of Peninsula Way a private street network connecting the public Beach 53rd Street to the private Beach 52nd Street which will be publicly accessible to pedestrians and vehicles will eventually extend to Beach 50th street upon the construction of future phases at Edgemere Commons this is the third multifamily building set to rise at Edgemere Commons developed by the Arker Companies and Slate Property Group which is also being developed by TS Communities is expected to open in the third quarter of this year TS Communities will continue to develop Edgemere Commons which will encompass up to 2,050 apartments upon full completion Tishman Speyer Senior Managing Director Michelle Adams said “We’re proud to start the next phase of Edgemere Commons a development that has benefited from years of collaboration Today is another meaningful step toward a shared vision that will ultimately create over two thousand affordable We are grateful to all our local elected officials as well as NYS Homes and Community Renewal for their hard work and commitment to this neighborhood.” New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas said “This latest phase of Edgemere Commons exemplifies our commitment to combining housing with commercial space and amenities that will benefit residents and all of Far Rockaway for years to come This latest phase of what will be a transformative development with more than 2,000 quality homes on a former hospital site will bring 244 affordable apartments to life with amenities like green space and a landscaped street to create a connected By partnering with Tishman Speyer and our other community partners we are taking on the housing crisis and ensuring that hundreds of families in Far Rockaway will have access to safe affordable homes in a strong and vibrant community now and in the future.” Hudson Housing Capital Managing Director Sam Ganeshan said “Hudson Housing Capital is proud to partner with Tishman Speyer to finance affordable and supportive housing at Edgemere Commons A2 for their collaboration and commitment to advancing the next phase of this large-scale Citi Community Capital Director Richard Gerwitz said “Citi Community Capital is pleased to be a part of the team financing the construction of Tishman Speyer’s second apartment building at Edgemere Commons in Far Rockaway providing an $80 million construction period letter of credit and equity by purchasing the New York State tax credits that are generated by the project The project is another step forward in the City and State’s efforts to provide every New Yorker with quality housing that is affordable with the services tailored to the specific needs of the tenants.” Queens Borough President Donovan Richards Jr “The Rockaway Renaissance continues in real time and I couldn’t be more excited to soon be breaking ground on the next phase of the revolutionary Edgemere Commons project delivering hundreds of affordable homes in the midst of our city’s generational housing crisis we are transforming the Rockaway Peninsula from a far-flung forgotten community into a blueprint for responsible revolutionary community development for the rest of the city to follow Thank you to all our government and community partners who have ushered this historic Edgemere Commons project along.” “The next phase of Edgemere Commons brings us closer to a stronger Affordable housing isn’t just about buildings — it’s about stability I thank Tishman Speyer and New York State Homes & Community Renewal for investing in the future of our community.” “The start of the next phase at Edgemere Commons is a significant step forward in our mission to provide quality affordable housing for all residents of the Rockaways This development strengthens our community by addressing critical housing needs I continue to engage Tishman Speyer as a partner ensuring that my constituents have access to quality affordable housing and more importantly actively participate in the benefits of the economic development generated by this project and I will continue to strongly advocate for Affordable Housing in the Rockaways.” State Assemblywoman Stacey Pfeffer Amato said “The next phase of Edgemere Commons is a major step forward This development brings quality housing options to local families while driving economic growth and stability I’m proud to support the work of Tishman Speyer and New York State Homes and Community Renewal as we continue building a stronger future for Rockaway.” “I am thrilled to celebrate the start of the next building at Edgemere Commons—another significant milestone in our ongoing efforts to provide high-quality affordable housing and create new opportunities for the Rockaways This achievement is a testament to the dedication of our partners equitable development and community-driven collaboration has been a driving force behind our progress I deeply appreciate their unwavering support and look forward to continuing this vital work together to build a brighter Breaking Ground President and CEO Brenda Rosen said “This fully affordable project achieves many ideals Breaking Ground is proud to be a partner in bringing the next phase of Edgemere Commons to life and help tenants exiting homelessness live with dignity and stability in their new homes.” Tishman Speyer established TS Communities in 2020 to address the ongoing housing affordability crisis and to serve the needs of the nation’s constantly evolving cities TS Communities is currently constructing a 279,000-square-foot multifamily building at 160 Van Cortlandt Park South in the Kingsbridge neighborhood of the Bronx The 100-percent affordable development will create 339 new homes for hundreds of residents and families About Tishman Speyer TrendingCommercial New YorkATishman Speyer seeks to refi the Spiral with $2.7B bond saleFirst major single-asset single-borrower deal of its category in 2025 Tishman Speyer is hitting the bond market to refinance its Hudson Yards office tower Tishman and Henry Crown are in the midst of a $2.65 billion bond sale to refinance the property at 66 Hudson Boulevard, Bloomberg reported The bond sale is expected to conclude by the end of the week which would make it the first major single-asset single-borrower bond sale tied to commercial mortgage-backed securities this year Proceeds from the bond sale will refinance existing debt — including a $1.37 billion construction loan and $216 million tied to EB-5 investors — go towards tenant reserves and return equity to the sponsor An additional $200 million in debt is expected to be securitized in future deals The Tishman Speyer property is proving to be a popular pick for tenants looking to find a home in a trophy office building. In October, private equity giant TPG agreed to take 301,000 square feet across eight floors one of the largest office leases in Manhattan that month The building opened in 2023 and counts tenants such as HSBC’s US headquarters occupancy at the 2.8 million-square-foot Spiral building hit 94 percent Tishman negotiated a $3.5 billion refinancing of Rockefeller Center And in August, Tishman scored a $301 million refinancing deal for its project at the historic Macy’s building in Downtown Brooklyn landing the package from Starwood Property Trust — Holden Walter-Warner By: Max Gillespie 7:00 am on October 21 Tishman Speyer recently secured a $3.5 billion loan to refinance Rockefeller Center in Midtown The loan is the largest-ever CMBS issued for a single office asset Bank of America and Wells Fargo co-led the five-year single asset single borrower loan which carries a fixed interest rate of 6.2265 percent The funds will be used to pay off an existing $1.7 billion loan and mezzanine financing due in May 2025 Rockefeller Center spans 7.3 million square feet which is co-owned by Tishman Speyer and Henry Crown & Co. along with a new 24,000-square-foot park on top of Radio City Music Hall a revolving platform offering 360-degree views of the city “We are proud of our stewardship of Rockefeller Center,” said Tishman Speyer CEO Rob Speyer “The lending market’s overwhelming response speaks volumes about the success of our redevelopment and their confidence in top performing assets.” The Center is doing surprisingly well for older office buildings in these troubled times I see a small part above the NBC Today studios is being converted into a hotel for 2026 so there is a use for all those empty floors Rockefeller Center has the best location in Midtown There are lots of smaller tenants who appreciate the historical design and exceptional access In the 60’s I worked at Simon and Schuster in the International Building I always felt that I was in a ‘special place’ Those obsessed with other’s age were seemingly never young TrendingCommercial New YorkATishman Speyer lands $301M refi on historic Macy’s building in Downtown BrooklynStarwood provides loan for office development above art deco building Tishman Speyer scored a $301 million refinancing deal on its project at the historic Macy’s building in Downtown Brooklyn where it erected 10 floors of offices on top of the original Abraham & Straus department store Starwood Property Trust provided the financing for the development centered around the 143-year-old office-and-retail building at 422 Fulton Street Macy’s occupies the first four floors of the building It partnered with Tishman to redevelop the property The development incorporates the store’s original cast-iron facade into an office building called the Wheeler, where Tishman built 622,000 square feet of Class A office space, adding to the glut of luxury office buildings in the borough St. Francis College inked a lease in 2021 for the fifth SIGN UP“Tishman Speyer and Starwood Property Trust have worked collaboratively on a refinancing for the Wheeler,” a company spokesperson said The refi replaces a 2021 loan from the same lender for the same amount The Real Deal reported that year that Tishman was seeking $60 million in EB-5 financing for its planned renovation and was looking to raise $491 million for the project Abraham & Straus was the reigning queen of Brooklyn department stores for more than a century It grew to become the fourth largest department store in America and was once “ as integral to the borough’s identity as the Brooklyn Dodgers and The Brooklyn Daily Eagle,” according to The New York Times By Vicentiu Fusea Spin Master has signed a 132,300-square-foot lease at The Collective, a 204,724-square-foot, five-building creative office campus in the West Los Angeles neighborhood of Playa Vista This deal marks the largest leasing agreement in the area in the past two years Centurion and Madison Partners arranged the transaction on behalf of the tenant Tishman Speyer had in-house representation The children entertainment company will move to its new location in November next year and will occupy three buildings within the campus Spin Master currently occupies 70,000 square feet at 5880 Jefferson Blvd. an office complex 4 miles from The Collective READ ALSO: LA Was Among Hotspots for Office Investment in 2024 the firm’s future location is 4 miles from Los Angeles International Airport Tishman Speyer completed The Collective in 2015 using funds from a $40 million loan originated by Wells Fargo The two-story campus features private garden patios The buildings also have open floorplans and five passenger elevators Centurion’s CEO Tony Morales—who recently moved to CBRE—and JLL Executive Vice President Maureen Hawley along with partner Chris DuMont at Madison Partners Tishman Speyer Managing Director Allen Palmer represented the landlord The Los Angeles office vacancy rate as of February clocked in at 16.3 percent, 30 basis points higher year-over-year, but still considerably below the 19.7 percent national average, according to the latest CommercialEdge office report The metro’s average listing rate during the same month was $42.6 marking a 2.0 percent increase from February 2024 In February, Mangan Inc. signed a 37,000-square-foot lease at Kilroy Realty Corp.’s Aero Long Beach a 957,706-square-foot campus in Long Beach The move-in is scheduled for November this year TrendingCommercial ChicagoATishman Speyer doubles down on narrow apartment marketNew York firm buys second Chicago multifamily asset in Lincoln Park Tishman Speyer has expanded its Chicago multifamily portfolio in a nearly $114 million acquisition The New York investor purchased Elevate Lincoln Park, a 191-unit apartment complex at 930 West Altgeld Street in Lincoln Park, CoStar first reported The North Side property was sold by Baker Development in late January for about $596,000 per unit marking one of Chicago’s first major apartment building transactions this year Kevin Girard and Zach Kaufman represented Baker Development Baker had attempted to sell the building in 2021 and 2023 but was unable to find a buyer The 11-story building was marketed with the option for the buyer to assume a $78.6 million Fannie Mae loan Average monthly rents at Elevate range from $2,377 for studios to $7,305 for three-bedroom units The property also boasts 16,000 square feet of retail space and 160 indoor parking spaces SIGN UPTishman, known for its office holdings, has been expanding its residential portfolio, which includes nearly 33,000 units. Elevate is Tishman’s second major residential acquisition in Chicago, following its purchase of Union West in the West Loop for $128 million in late 2023 coupled with limited new construction in the area Just 320 units are under construction in the North Lakefront submarket Additions to the supply are anticipated to decline by 31 percent over the next four years compared to the 10-year historical average with the South Loop seeing a sharp 49 percent decrease