Chrysler Building: New York’s most beautiful skyscraper is for sale

One of the most famous buildings of New York, the nearly 320-Meter-high Chrysler building, in the heart of Manhattan, is for sale. The investment company Mubadala from the United Arab Emirates, and the real estate company Tishman Speyer, wanted to separate itself from the skyscraper, said the process trusted source on Wednesday (local time), the news Agency AFP, confirming a report by the Wall Street Journal.

A price, the two companies are not set according to the figures. Mubadala had acquired in 2008 for $ 800 million (696 million euros), of Tishman Speyer, a 90-percent share of the Chrysler Building, and the remaining ten percent remained in the possession of the real estate company. This was paid in 1997 for the whole of the building is estimated to be between 210 and 250 million dollars.

Anyway, falling prices for offices

Mubadala, and Tishman Speyer the Chrysler building in the real estate industry in difficult times on the market. The district of Hudson Yards on the West edge of Manhattan, with 1.6 million square metres of brand-new apartments and offices, is nearing completion, is expected to push the already falling prices for offices in older buildings further down.

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The opened in 1930, the Chrysler Building in the 42. Street corner of Lexington Avenue is considered a masterpiece of Art Deco. With its 319 metres, it was once the tallest building in the world – at least for eleven months. After that, it was dethroned from the Empire State Building. Even if it was named after the car company founder Walter Chrysler, the company had never to his seat.