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Tishman Speyer Adds Midtown’s Hippodrome to Management Portfolio
Edison Properties and Gottesman Real Estate Partners and Tishman Speyer said Tuesday that Tishman Speyer has been selected to provide management services at the Hippodrome, a historic 21-story tower at 1120 Ave. of the Americas in Midtown Manhattan. As part of the assignment, ElevatedNY, the four-floor coworking and move-in-ready office concept at the Hippodrome, will join the Studio by Tishman Speyer portfolio.
“We expect this will enhance our five decades of ownership and maintain the Hippodrome for many more years as a sought-after destination for top tenants in Midtown,” said Andy Gottesman, a principal of 1120 Ave. of the Americas.
The Hippodrome is the latest addition to Tishman Speyer’s growing third-party property management business. It joins a managed portfolio that includes, among others, Hearst Communication’s headquarters tower in Manhattan; Credit Suisse’s 1120 G St. in Washington, DC; Crown Family Holdings’ 222 N. LaSalle St. and Deutsche Bank’s 300 S. Wacker Dr. in Chicago; and JPMorgan and GIC’s Opernturm in Frankfurt.
Once the site of the largest theater in New York City, the historic Hippodrome was later transformed into a 615,000-square-foot office tower. Edison Properties acquired the site in 1978 and later completed an expansive modernization.
Photo credit: Chris Cooper.
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