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GlobeSt.com UPDATE: MetLife Sales Closes

NEW YORK CITY-Tishman Speyer's $1.72-billion acquisition of the MetLife Building at 200 Park Ave. closes. It is the largest single building sale in the city's history.

By Barbara Jarvie | Updated on May 23, 2005

NEW YORK CITY-Tishman Speyer Properties’ $1.72-billion acquisition of the landmark MetLife Building–the largest single building sale in the city’s history–has closed. TSP purchased the 2.8-million-sf property, which connects to Grand Central Terminal, from MetLife. GlobeSt.com had exclusively reported the acquisition in April .

Tishman Speyer’s property portfolio also includes the Chrysler Building, the New York Times building and Rockefeller Center. Cushman & Wakefield exclusively represented MetLife in the transaction, which was managed by Stephen Jones, executive managing director, in conjunction with the New York Capital Markets Group team of executive directors Richard Baxter, Scott Latham, Jon Caplan and Ron Cohen.

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