Is the Chrysler Building’s reputation enough for it to endure as an icon, or is it at risk of fading away from the skyline, as newer, taller and glitzier glass buildings surround it? — The New York Times
William Van Alen’s iconic masterpiece of the Art Deco style (which topped out just six days before the stock market crash of 1929) is now facing financial uncertainties after its pre-pandemic sale for just $150 million to an Austrian developer and New York-based CRE firm. The recent bankruptcy of the former company, Signa, has prompted questions about its future.
The Times reports more than half (650,000 square feet) of its rentable spaces are now vacant. The building's plight resembles slightly that of the Flatiron Building, which was finally sold to a local residential developer late last year.
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