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Several local New York outlets have reported an update on the financial dispute between the Chrysler Building’s owner-operator RFR and The Cooper Union, which has held the land use rights to its lot since 1902. The Austrian-based developer purchased William Van Alen’s landmarked design for... View full entry
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... View full entry
Although 175 Park is a handsome design that melds well with its other supertall neighbor, One Vanderbilt, it positively overwhelms the Chrysler Building, which all but disappears in the illustrations. Most existing buildings, in fact, wane in the presence of 175 Park due to its bulk. — Urbanize NYC
Aby Rosen’s RFR Holding is purchasing the Chrysler Building, one of the world’s most recognizable skyscrapers [...]
One source with knowledge of the talks said that sale price was higher “but not much higher” than the bids in the $100 million-range [...]
The price is several notches lower than the $800 million the Abu Dhabi fund paid Tishman Speyer for a 90-percent stake in the tower in 2008.
— The Real Deal
When the Chrysler Building, arguably one of New York City's most beloved architectural landmarks, came up for sale again earlier this year, speculations emerged what the value of such an iconic, yet aging, real estate trophy would be. The WSJ now confirmed that the 1930s Art Deco skyscraper... View full entry
Amazon could be a new tenant in the Chrysler Building, already increasing its upcoming presence in New York.
The tech giant, which is bringing half of its second headquarters to Long Island City, is close to signing a lease for about 10,000 square feet in the famed property, according to the New York Post. The building’s owners, Tishman Speyer and Abu Dhabi Investment Council, are putting the landmark tower at Lexington Avenue and East 42nd Street up for sale.
— The Real Deal
The intention of the Chrysler Building owners to sell the iconic property at 42nd Street and Lexington Avenue made headlines last week. Securing a commercially attractive retail tenant, such as Amazon, would certainly improve the aging skyscraper's market value. View full entry
Abu Dhabi, the Persian Gulf Emirate that’s the Chrysler Building’s majority owner, is considering a sale of the 77-story tower after about a decade of ownership, people with knowledge of the matter said Wednesday. Abu Dhabi Investment Council, the government’s sovereign wealth fund, paid $800 million for a 90 percent stake in 2008. — Bloomberg
Roughly ten years after changing ownership to an Abu Dhabi sovereign wealth fund, the iconic Chrysler Building is back on the market again. But what is a trophy worth?, asks Bloomberg. Gorgeous automobile-inspired facade details, symbols of a bygone industrial era. Image via Wikipedia.Strictly... View full entry
New York's Chrysler Building was bought by an Abu Dhabi sovereign wealth fund, the second purchase of a Manhattan landmark by Middle East investors in as many months. NYT | previously 1 | 2 View full entry
Flush with dollars as oil prices reach record heights and remain there, Middle East economies are looking at newer ways to invest their money, and prime American real estate is their latest target.Domain-B.com View full entry
