Will Tishman Speyer buckle?
November 11, 2008 08:00AM By Adam Piore
Carrying a heavy load: Jerry (left) and Rob Speyer of Tishman Speyer, whose holdings include Rockefeller Center.
From the November issue: With credit markets frozen and property values slumping, real estate firms that soared the highest during the boom now appear poised to fall the farthest. Certainly, few have looked down from as lofty a perch in recent years as Tishman Speyer, the venerable blue-chip firm that has long held a stake in such New York City landmarks as Rockefeller Center and the Chrysler Building. Firmly established as the city's best in class, Tishman Speyer expanded its empire even wider during the boom, most notably by beating out scores of bidders in 2006 to acquire the iconic 80-acre Stuyvesant Town and Peter Cooper Village complex for $5.4 billion, the priciest deal ever for a single real estate property in the U.S.
more
The Real Deal reserves the right to delete any comment it finds to be rude, obscene, racist, sexist, bigoted, irrelevant or repetitive, as well as inappropriate comments about anyone's personal appearance. The Real Deal does not endorse any comments posted on its Web site nor does it verify the veracity of comments or the identity of posters.
Comments
Anonymous
Interesting profile on the company. For years, the Tishman's have been ahead of the pack, yet oddly conservative. They are nowhere near the position Macklowe Properties was before they collapsed and even though they have $600M in reserves, they might need to raise more, but they'll stick it out.
Comment #1 Posted By: Anonymous 11/11/08