Who Owns Rockefeller Center? A Tale of Titans and Transactions
Rockefeller Center, the iconic landmark that has graced New York City's skyline since its completion in 1940, has a fascinating history of ownership. While the name "Rockefeller" might lead one to believe that the center is still in the hands of the Rockefeller family, the truth is a bit more complex.
A Brief History of Ownership
The Rockefeller Dynasty: The center was originally developed by John D. Rockefeller Jr., the son of oil tycoon John D. Rockefeller, as a testament to his family's legacy and a symbol of urban renewal. The construction of the complex was a massive undertaking, involving the demolition of an entire neighborhood and the creation of an underground plaza to accommodate the city's growing subway system.
Tishman Speyer: In 1985, the Rockefeller family sold Rockefeller Center to Tishman Speyer Properties, a real estate development firm. This marked a significant shift in ownership, but the center's iconic status remained intact. Tishman Speyer has been responsible for managing and maintaining the property ever since.
Public Ownership: In 2008, Tishman Speyer faced financial difficulties during the global economic downturn and was forced to relinquish control of Rockefeller Center. The property was then acquired by a consortium of investors, including Goldman Sachs, Morgan Stanley, and the Qatar Investment Authority. This marked a period of public ownership for the center.
Current Ownership: Today, Rockefeller Center is primarily owned by a joint venture between Tishman Speyer and Mitsubishi Estate, a Japanese real estate company. This partnership reflects the ongoing globalization of commercial real estate and the increasing involvement of foreign investors in iconic American landmarks.
FAQs About Rockefeller Center Ownership
How to Visit Rockefeller Center: Rockefeller Center is open to the public year-round. The best way to experience the center is to take a guided tour or simply explore the plaza and its surrounding attractions.
How to See the Christmas Tree: The iconic Christmas tree at Rockefeller Center is a beloved holiday tradition. The tree is typically erected in late November and remains on display until early January. Admission to the plaza is free, but there may be restrictions during peak hours.
How to Find Restaurants and Shops: Rockefeller Center is home to a variety of restaurants, cafes, and shops. The plaza level features several dining options, while the surrounding buildings house upscale boutiques and department stores.
How to Attend Events: Rockefeller Center hosts a variety of events throughout the year, including concerts, ice skating shows, and art exhibitions. Check the center's website for upcoming events and ticket information.
How to Get to Rockefeller Center: Rockefeller Center is located between 48th and 51st Streets and Fifth and Sixth Avenues in Midtown Manhattan. It is easily accessible by subway or taxi.