Rockefeller Group
The Rockefeller Group is a global private company based in New York City, primarily involved in real estate operations in the United States. It is a majority owned subsidiary of Mitsubishi Estate Co. Ltd. For 70 years, the Group has initiated some of the biggest projects in commercial real estate in the US, beginning with the development of one of the world’s major complexes in Rockefeller Center.
After building the original 6,000,000-square-foot (560,000 m2), Art Deco complex from 1931 into the 1940s (the company name was then the Metropolitan Square Corporation), employing nearly 75,000c workers, the real estate company developed several towers in the immediate vicinity from the late 1940s into the 1950s and '60s. It entered into a partnership with Time-Life and constructed a 48-story building for the company that opened in 1959; this spearheaded the expansion of the Center to the west of 6th Avenue, Avenue of the Americas.
By the early 1970s, they had added a total of four International Style towers to Rockefeller Center, more than doubling the size of the original complex.
In 2003, they formed a joint venture with CommonWealth Partners, LLC to manage large real estate properties in the United States.
Today, the Group maintains an ownership/management position in the 7,700,000 square feet (720,000 m2) of premier office space that makes up Rockefeller Center’s western corridor (the newer buildings). The eastern and original part of the Center is now owned by Tishman Speyer and the Lester Crown family of Chicago.
Read more about Rockefeller Group: Buildings, Subsidiary
Famous quotes containing the words rockefeller and/or group:
“I know of nothing more despicable and pathetic than a man who devotes all the hours of the waking day to the making of money for money’s sake.”
—John D. Rockefeller (1839–1937)
“Instead of seeing society as a collection of clearly defined “interest groups,” society must be reconceptualized as a complex network of groups of interacting individuals whose membership and communication patterns are seldom confined to one such group alone.”
—Diana Crane (b. 1933)