The majority owner of the MetLife Building, one of the most recognizable properties in New York City at 200 Park Avenue, has been revealed.
The Irvine Company, run by California billionaire Donald Bren, has a 97.3 percent ownership stake in the 58-story Midtown property adjacent to Grand Central Terminal, according to Bloomberg Business. The paper noted that Tishman Speyer, the managing partner of the building, has a less than 3 percent stake.
The Newport Beach-based Irvine Company is a real-estate investment firm best known for its master-planned communities; its portfolio includes office and campus properties, retail centers, apartment communities and resorts. On its website, the company highlights its properties in Silicon Valley, Los Angeles, Orange County and San Diego.
The Irvine Company could not immediately be reached for comment. A spokesman for Tishman Speyer declined to comment on the revelation.
Earlier this year, Bloomberg Business reported that the MetLife Building is valued at approximately $3 billion.