Tishman Speyer to Transform MetLife Building at 200 Park Avenue Lobby with Major Redesign and Renovation

Original Grand Central Terminal-45th Street Connection to be Reopened

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Dec 12, 2018, 10:00 ET

NEW YORK, Dec. 12, 2018 /PRNewswire/ -- Tishman Speyer announced today a major re-imagination of the lobby and public areas of 200 Park Avenue, the classic 58-story, 3.1-million-square-foot building in Midtown Manhattan, commonly referred to as the MetLife Building.

Rendering of Updated Grand Central Terminal-45th Street Connection

Tishman Speyer and its investment partner, California-based Irvine Company, commissioned MdeAS Architects to reimagine the two-level, 50,000 square-foot lobby by restoring its original grandeur and creating a more intuitive, welcoming space for those who visit and work in the building. The project will strengthen the physical connection to Grand Central Terminal by reconstituting its original passageway between the transit hub and 45^th Street, modernize all lobby technology, and introduce a wide array of Tishman Speyer's ZO. amenities for tenants.

"The MetLife Building at 200 Park Avenue is one of the most instantly recognizable New York City landmarks, a classic admired throughout the world," said Rob Speyer, President and CEO of Tishman Speyer. "We are creating a grand space that will equal the building's stature and acclaim. The new modern design of the lobby will restore the vision of 200 Park's original stewards while meeting the needs and aspirations of a new generation. This reinvestment will ensure that this building continues to be one of the most sought-after office locations in Manhattan well into the future."

The renovation will utilize classic materials including travertine-clad columns, terrazzo flooring and statuary bronze finishes as well as warmer wood finishes, restoring the mid-century elegance and harmony that is synonymous with this building.

Uncommon for commercial office buildings, the lobby of 200 Park Avenue is also a connection for commuters to Grand Central Terminal with more than 250,000 people passing through each day. The new design will reopen an original direct passageway between Grand Central and 45^th Street that was eliminated in the 1980s. The renewed passageway instinctively threads together the concourse entrances and clarifies the ground floor circulation for commuters.

An iconic building in Manhattan, perched atop Park Avenue and easily visible from the South and North, 200 Park Avenue was designed by Emery Roth & Sons, Pietro Belluschi and Walter Gropius in the International style, and opened in 1963 as the Pan Am Building. Tishman Speyer and Irvine Company, California's primary owner of premium office, retail, resort and apartment communities, acquired the building in 2005.

"Since its inception, the 200 Park Avenue lobby has undergone an assortment of generational renovations," said MdeAS Architects. "The new design, part restoration, part reinvigoration, is a nod to its past and a celebration of its future with a modern approach that upholds the integrity of the original architecture and inspires new ideas."

About Tishman Speyer (tishmanspeyer.com)
Tishman Speyer is a leading owner, developer, operator and fund manager of first-class real estate around the world. Founded in 1978, Tishman Speyer is active across the United States, Europe, Latin America and Asia, building and managing premier office, residential and retail space in 28 key global markets for industry-leading tenants. The firm has acquired, developed and operated a portfolio of over 167 million square feet with a total value of approximately US $88 billion spread over 406 assets. Signature assets include New York City's Rockefeller Center, São Paulo's Torre Norte, The Springs in Shanghai, Lumière in Paris and OpernTurm in Frankfurt. Tishman Speyer currently has projects at different stages of development in Boston, Brasília, Frankfurt, Gurgaon, Hyderabad, Los Angeles, New York City, Paris, Rio de Janeiro, San Francisco, São Paulo, Shanghai, Shenzhen and Washington, DC. The firm also operates portfolios of prominent office properties in Berlin, Chicago and London. For more information, visit tishmanspeyer.com and find us on social @tishmanspeyer.