American Realty Advisors

Menu

News, June 05, 2019

Honoring the Life and Legacy of I.M. Pei

Architect of ARA Asset | 499 Park Ave., New York, NY

American Realty Advisors (“ARA”) would like to acknowledge the life of I.M. Pei, the modernist architect who left an enduring body of work across the globe.

I.M. Pei, a Chinese-American architect, is recognized as one of the most prolific architects of the modern era. He is best known for his design of the Louvre pyramid in Paris and, over the course of his six-decade career, Pei gave the world well over 50 innovative designs, including 499 Park Avenue in New York, which was acquired by ARA in 2013. 

Known as the “Black Diamond,” and designed by I.M. Pei & Partners, 499 Park is located at the corner of 59th and Park in Manhattan’s iconic Park District and incorporates Pei’s vision for the modern New York office building. 

Pei’s numerous honors include the Pritzker Architecture Prize, the Presidential Medal of Freedom, Gold Medal of the American Institute of Architects, the Smithsonian’s and the Cooper-Hewitt National Design Award for Lifetime Achievement. Fellow renowned architect, Norman Foster is quoted on Pei’s passing in Architectural Digest as saying, “He was one of the greats and will be missed, yet he leaves behind a formidable legacy that will continue to influence architects and designers for decades to come”.

Notable Pei works include | Pyramid for the Louvre Museum – Paris, France, National Gallery of Art, East Building – Washington, D.C., John F. Kennedy Presidential Library and Museum – Boston, MA, Rock and Roll Hall of Fame – Cleveland, OH, Jacob Javits Convention Center – New York, NY, and the Museum of Islamic Art in Doha, Qatar. 

“I.M. Pei’s impact on building design will be seen as the standard for excellence for generations to come. His modernist approach and design contributions have impacted the commercial real estate industry in how we think about the quality and value of unique assets when investing.” -Stanley Iezman, ARA Chairman and CEO

499 Park Ave., New York, NY
Completed in 1980, 499 Park is a sleek prism of polished and black glass that provides a contemporary counterpoint to the classic residential buildings lining Park Avenue.  The buildings unique lobby is also viewed as a community art gallery of contemporary exhibitions, having hosted over 20 rotating shows. Artists that have displayed at the gallery include:  Chuck Close, Alex Katz, Robert Zakanitch, Thomas Downing, Doug Ohlson, Ray Parker and Robert Swain. For more information on 499 Park Ave., please visit: www.499parkavenue.com

Sources: New York Times, www.nytimes.com/2019/05/16/obituaries/im-pei-dead.html; Architectural Digest, https://www.architecturaldigest.com/story/im-pei-prolific-iconic-architect-dead-102 Images: Louvre, Getty Images - Museum of Islamic Art, iStock images - 499 Park, ARA

Learn more about our strategies and services

Talk to our team today to find out how ARA can provide you with the tools to help you achieve your real estate return goals.

Contact Now