Since femtocells are deployed in a two tier cellular network, along with macrocells operating on the same channel, interference between them limits the overall performance of the network. Without any control of the femtocell operation, pre-deployed macrocells will experience severe interference, which is not consistent with the current femtocell deployment principle. In this paper, to resolve this problem, a mathematical framework that optimizes the downlink transmission power of femtocells is formulated. Based on the formulated framework, we derive the optimal value of the transmission power so that the transmission affects the pre-deployed macrocell's downlink performance at a minimum scale, while providing sufficient Quality of Service (QoS) to its served users. Furthermore, to reduce the complexity of the power control process, we propose an Interference Estimation scheme which approximates the interference levels between different pairs of macrocell and femtocell base stations. The feasibility of this estimation process is shown by deriving the lower and upper bound of the estimation error. Through simulations, compared to no power control, we show that our proposed method provides a 17.64% reduction in macro user's outage probability, 5.9 dB decrease of interference on cell-edge macrocell users, and a 1.41 times increase in average user throughput.