| | Commercial Real Estate A Tower’s Big Time Restoration; MetLife’s Immense Clock Gets a Detailed Overhaul, ... (Site not responding. Last check: 2007-11-06) |
 | | That speaks to the obsessive level of detail in the rehabilitation of the MetLife Tower, which is not only the insurance company’s home office but a civic cynosure, with its 26-foot-6-inch-diameter clock dials, six-foot bells and eight-sided beacon, 700 feet in the sky, atop a cupola newly regilded with 23.75-carat Italian gold leaf. |
 | | MetLife will be eligible for a federal tax credit equal to 20 percent of the certified rehabilitation costs for preserving a building on the National Register of Historic Places, in a program overseen by the Interior Department and state preservation officials. |
 | | There were other reasons for a painstaking renovation.“Redoing the building on the cheap would undermine its economic viability,” said Kevin Foley, a MetLife vice president.“The tower is an important piece of Manhattan real estate and an important asset of the company.” It also has“intrinsic value to the brand and the corporate image,” he said. |
| www.graciano.com /na_detail.asp?newsID=27 (1230 words) |