Chrysler Building put up for sale

The Chrysler Building, the art deco skyscraper that has been a key part of the New York City skyline for nea...

Posted: Jan 9, 2019 3:29 PM
Updated: Jan 9, 2019 3:29 PM

The Chrysler Building, the art deco skyscraper that has been a key part of the New York City skyline for nearly 90 years, is up for sale.

The building has been owned by Mubadala, a Abu Dhabi investment fund, and real estate firm Tishman Speyer since 2008. They have hired CBRE Group to sell the property, according to Darcy Stacom, chairman of CBRE's New York City capital markets group. The sales plans were first reported by the Wall Street Journal.

Architecture

Automotive industry

Building design

Building planning and construction

Buildings and structures

Business and industry sectors

Business, economy and trade

Chrysler Building

Companies

Fiat Chrysler

Points of interest

Skyscrapers

"Clearly, it's an iconic building with tremendous reputational value for the right buyer," said Brian Lott, spokesperson for Mubadala

When the building was completed in 1930, it was the tallest building in the world, a title it held for about a year until the Empire State Building opened less than a mile away in midtown Manhattan.

Today it is only the sixth tallest building in the city, and will drop down another notch later this year when a new office tower opens on the city's west side. But it is still one of the city's most recognizable buildings. It is famous for its triangle-shaped, vaulted windows worked into the stylized crown, along with its distinctive eagle gargoyles near the top. It has been featured prominently in many films, including Men in Black 3, Spider-Man, Armageddon, Two Weeks Notice and Independence Day.

But it finds itself competing for tenants with more modern office space. The previous sale took place just before the 2008 financial meltdown led to a plunge in real estate prices.

Still there have been a number of high profile skyscrapers purchased for top dollar in recent years, including the Waldorf Astoria hotel, which Chinese firm Anbang Insurance purchased in 2016 for nearly $2 billion, and the Willis Tower in Chicago, which was formerly known as Sears Tower -- once the world's tallest. Blackstone Group (BX) bought it for $1.3 billion 2015.

The Chrysler Building was headquarters of the American automaker until 1953, but it was named for and owned by Chrysler chief Walter Chrysler, not the company itself.

Walter Chrysler had set out to build the tallest building in the world, a competition at that time with another Manhattan skyscraper under construction at 40 Wall Street at the south end of Manhattan. He kept secret the plans for the spire that would grace the top of the building, building it inside the structure and out of view of the public until 40 Wall Street was complete. Once the competitor could rise no higher, the spire of the Chrysler building was raised into view, giving it the title.

Indiana Coronavirus Cases

(Widget updates once daily at 8 p.m. ET)

Confirmed Cases: 34211

Reported Deaths: 2125
CountyConfirmedDeaths
Marion9761576
Lake3573186
Allen160069
Cass15877
St. Joseph126634
Elkhart126228
Hendricks116671
Hamilton115493
Johnson1097108
Madison58659
Porter53428
Bartholomew50834
Clark49741
LaPorte43023
Howard40428
Tippecanoe3933
Delaware38536
Jackson3821
Shelby37122
Hancock33127
Floyd31839
Boone31635
Morgan27824
Vanderburgh2662
Montgomery23817
White2338
Noble22821
Clinton2271
Decatur22431
Grant21022
Dubois1993
Harrison19422
Henry17211
Greene16924
Vigo1688
Dearborn16821
Monroe16712
Warrick16628
Lawrence15924
Miami1401
Putnam1367
Jennings1304
Kosciusko1271
Orange12622
Scott1193
Franklin1108
Ripley1086
Marshall1021
Carroll932
Daviess8516
Steuben832
Wayne785
Fayette777
Newton7710
Wabash772
LaGrange762
Jasper661
Washington521
Clay511
Jay500
Fulton491
Randolph473
Rush462
Pulaski460
Jefferson451
Whitley413
Starke393
DeKalb371
Sullivan351
Owen341
Brown331
Perry320
Wells310
Benton300
Knox280
Huntington272
Tipton251
Blackford252
Crawford240
Fountain212
Switzerland200
Spencer201
Parke170
Adams171
Posey160
Gibson152
Ohio130
Warren121
Martin110
Vermillion100
Union90
Pike60
Unassigned0167

Illinois Coronavirus Cases

(Widget updates once daily at 7 p.m. CT)

Confirmed Cases: 118917

Reported Deaths: 5330
CountyConfirmedDeaths
Cook771193603
Lake8238288
DuPage7620368
Kane6259176
Will5510273
Winnebago220955
McHenry153972
St. Clair112180
Kankakee90045
Kendall77819
Rock Island65124
Champaign6277
Madison57259
Boone44117
DeKalb3994
Sangamon34829
Jackson28210
Randolph2694
Peoria2218
McLean21813
Ogle2033
Stephenson2012
Macon19419
Clinton18617
Union15510
LaSalle15013
Whiteside13912
Iroquois1314
Coles12615
Out of IL1181
Warren1150
Jefferson10116
Grundy982
Knox980
Monroe9511
McDonough8711
Lee811
Unassigned800
Cass730
Tazewell725
Henry690
Williamson661
Pulaski560
Marion500
Jasper457
Macoupin452
Adams441
Perry420
Montgomery391
Vermilion391
Morgan361
Christian354
Livingston342
Jo Daviess320
Douglas270
Fayette203
Ford201
Jersey201
Menard200
Woodford192
Mason180
Washington180
Hancock170
Mercer170
Carroll162
Shelby161
Bureau151
Schuyler130
Bond121
Franklin120
Clark110
Crawford110
Fulton110
Moultrie110
Piatt110
Brown100
Cumberland100
Logan100
Wayne91
Alexander80
Henderson80
Johnson80
Effingham71
Massac70
Saline70
Greene50
Marshall50
De Witt40
Lawrence40
Richland30
Stark30
Clay20
Edwards20
Gallatin20
Hamilton20
Wabash20
White20
Calhoun10
Edgar10
Hardin10
Pike10
Pope10
Putnam10
Terre Haute
Clear
56° wxIcon
Hi: 74° Lo: 50°
Feels Like: 56°
Robinson
Clear
56° wxIcon
Hi: 73° Lo: 49°
Feels Like: 56°
Indianapolis
Broken Clouds
59° wxIcon
Hi: 72° Lo: 48°
Feels Like: 59°
Rockville
Scattered Clouds
53° wxIcon
Hi: 72° Lo: 49°
Feels Like: 53°
Casey
Clear
58° wxIcon
Hi: 73° Lo: 51°
Feels Like: 58°
Brazil
Clear
56° wxIcon
Hi: 72° Lo: 49°
Feels Like: 56°
Marshall
Clear
56° wxIcon
Hi: 73° Lo: 49°
Feels Like: 56°
A calm evening is expected
WTHI Planner
WTHI Temps
WTHI Radar

WTHI Events