The Chrysler building, one of the most emblematic buildings in the city of skyscrapers, will change hands in exchange for 150 million dollars, a figure well below the one paid a little over ten years ago to acquire this art deco jewel. opened in 1930. The real estate firm RFR Holding, owner of other famous buildings in Manhattan, and a foreign partner will control the Chrysler building, according to The Wall Street Journal.
So far, the sovereign wealth fund of Abu Dhabi owned 90% of the tower, while the US group Tishman Speyer, the previous owner, kept the remaining 10%. In 2008, the Emirati fund had paid 800 million dollars for his part of the property, which he decided to put on sale at the beginning of this year. The reason, according to the Journal, are the high maintenance costsor of the building, in large part because the land on which it stands is owned by the Cooper Union school, which in 2018 received a 32.5 million rental of dollars and that it expects that in 2028 the figure will reach 41 million. In addition, the tower has a lot of vacant space or it will be empty soon, so the new owners will probably have to invest to attract new tenants, according to the Journal.
The building has high maintenance costs, as well as a rental of 32.5 million dollars
The Chrysler, located in the heart of Manhattan, is one of the most recognizable buildings in New York, especially for its famous dome. Designed by the architect William Van Alen and built between 1928 and 1930 in Art Deco style, it was for a brief period of time-until the Empire State Building was completed in 1931- tallest building in the world. Despite the proliferation of new skyscrapers in recent years, the Chrysler remains one of the ten tallest buildings in the Big Apple, with 77 floors and 319 meters in height.