NEWYORKCITY

Speyer’s Strengths

An Interview with Jerry I. Speyer, Chairman, Tishman Speyer

EDITORS’ NOTE Jerry Speyer is with approximately 2 percent as Tishman Speyer and a number of one of the two founding partners the new norm. Is there growth other leading global real estate firms have of the company. He is Chairman within this market? the capabilities to do large complex and of the Museum of Modern Art Yes. I think we are witnessing special projects. Within those firms, is and Vice Chair of NewYork- slower growth and lower returns, and there a real difference? Everyone has great Presbyterian Hospital. He is the people have adjusted their thinking people with current technology, so does it former Chairman of the Board of along these lines. As we see central come down to culture? Directors of the Federal Reserve banks all over the world reducing I prefer not to discuss the competition, Bank of ; Chairman rates, a change in return expecta- but there are ways to stand out from other Emeritus of Columbia University; tions is inevitable. However, this can companies, and yes, culture plays a big role in Chairman Emeritus of the Real change very quickly. our success. We built our own following over Estate Board of New York; Chair Tishman Speyer is clearly a period of time based on how we conduct Emeritus of the Partnership for New Jerry I. Speyer strong within New York and ourselves and the product we create and make York City; and past President of the also in many markets like Latin available to our clients. Board of Trustees of the Dalton School. Speyer’s America and Europe. Are you concentrat- You’re involved with the project at other board affiliations include Yankee Global ing on consistent U.S. growth for the firm? 66 Hudson Boulevard. When you look Enterprises, Board I’m optimistic about the United States. I at what is happening in that part of the of Overseers, National September 11 Memorial think we are at a point where the U.S. is , known as Hudson Yards, what kind & Museum, the National Committee on United envy of other countries because our economy of impact do you anticipate that area States-China Relations, and the Kennedy Center is much healthier. It is showing more promise having on the city? Do you see it as being Corporate Fund Board. Speyer is a Trustee of than economies in other parts of the world. a city within a city? the Städel Museum, , Germany. He is You have a 1.1 million square foot No, it’s a new area. It’s not a city within a a member of the Council on Foreign Relations, project of retail and office space in Long city. Clearly, the total development space there the Business Roundtable, and the American Island City, as well as The Spiral at 66 is very large, and larger than some small cities. Academy of Arts and Sciences. Speyer gradu- Hudson Boulevard. Have those opportuni- But, it’s certainly not a city. ated from Columbia College and received an ties broadened your focus based on their originated in Lower M.B.A. from Columbia University Graduate unique locations, and do you see additional Manhattan and every generation since has ex- School of Business. opportunities in the outer boroughs? panded this core area. As the city expanded, it We’re seeing a change in how people moved uptown. During the 20th Century, the COMPANY BRIEF Tishman Speyer think about location. business district moved sequentially, as far as ( t i s h manspeyer.com) is one of the leading de- New York is unique in many respects 57th Street, both to the east and to the west. velopers, owners, operators, and asset managers and evolving views on location is one of This is just another expansion of the city. of first class real estate worldwide. Active across them. We’re seeing these changes in other You have made a strong commitment North America, Europe, South America, and big cities around the country as well, such to social responsibility, and have put Asia, Tishman Speyer is relied upon by many as in , San Francisco, , much time and energy into philanthropic of the world’s most prestigious corporations to and . efforts. What makes this so critical and meet their office space needs. The firm has ac- The truth is, people think about the dy- personal for you? quired, developed, and/or managed more than namics of the boroughs as being different from I see it more as an undertaking. It’s a 391 projects and a portfolio of more than 166.5 the growth that we see in other places. It’s re- truly important part of our lives. We encourage million square feet with a total value of approxi- ally about a reinvention. people in every part of our company to think mately $80.2 billion since its founding in 1978. Tishman Speyer has held quite a few about giving back to the communities where Signature assets include New York’s Rockefeller buildings for many years. How do those we are active. Center, Chrysler Center, Yankee Stadium, São buildings with a long heritage compete Tishman Speyer supports many impor- Paulo’s Torre Norte, Ventura Corporate Towers with newer buildings that are customized tant causes, particularly the arts. Would you in Rio de Janeiro, and the OpernTurm and the for the tenants of today? discuss the areas you are involved with? Messeturm in Frankfurt. Tishman Speyer also It’s the bones and location that matter. One particular area of focus for me is the has projects at different stages of development Older buildings can do just fine if they are in visual arts, but I also support music and educa- in Brasília, Chengdu, Frankfurt, Gurgaon, good locations. tion. However, Tishman Speyer also supports Hyderabad, Los Angeles, Paris, Rio de Janeiro, The interiors of buildings generally are an outreach in healthcare, the environment, San Francisco, São Paolo, , Suzhou, flexible. It’s all about location and how the youth development, medical research, and per- and Washington, D.C. space is organized for tenants. Many build- formance arts, among numerous other valuable ings in New York and around the world have causes. There are many areas where we can There are business leaders across all in- been changed to accommodate the needs of make an impact, and we certainly intend to dustries who now talk about slow growth tenants. continue our efforts.• 28 LEADERS POSTED WITH PERMISSION. COPYRIGHT © 2016 LEADERS MAGAZINE, INC. VOLUME 39, NUMBER 4