Tishman Speyer, on June 19 and June 25, filed two permit applications totaling $7.25 million worth of renovation work on two floors of the MetLife Building at 200 Park Avenue in Midtown.
The plans call for a rehab of floors seven and 54 of the 797-foot tall, 59-story, office building.
The first project, pre-filed on June 19, is described in the filings as: installation of interior non bearing partitions and related finishes as per plans filed herewith. No change in use, egress or occupancy. The $3.25 million rehab is for the seventh floor.
The second project, pre-filed on June 25, is described in the filings as: installation of interior non bearing partitions and related finishes as per plans filed herewith. No change in use, egress or occupancy. The $4 million rehab is for the 54th floor.
Milrose Consultants, Inc. is the architect listed on the applications.
Tishman Speyer purchased the building from the Metropolitan Life Insurance Company, which had owned it since 1981, for over $1.7 billion dollars in 2005. However, California billionaire Donald Bren’s Irvine Company has built an ownership stake greater than 97 percent in the tower over the past decade.
While Tishman’s stake has shrunk to less than 3 percent, they are still the managing partner of the property. In December of 2018, Tishman filed plans for a $22.4 million renovation of the building’s two-level, 50,000-square-foot lobby. The plans also called to reopen a direct connection from the lobby to Grand Central Terminal that was closed in 1980 during a previous renovation.