Chrysler Building…new Edsel ?

The Chrysler Building sells for a mere $150 million

Alexander Walter

By Alexander Walter Mar 11, ’19 5:35 PM EST AddThis Sharing ButtonsShare to PrintShare to TumblrShare to Google BookmarkShare to More13Follow

The Chrysler Building reportedly just sold for a hefty 80-percent discount. Photo: Michael McDonough/Flickr

The Chrysler Building reportedly just sold for a hefty 80-percent discount. 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 changed hands “for a little more than $150 million”—a tremendous loss from the $800 million the tower’s last owners, an Abu Dhabi sovereign wealth fund, paid for a 90-percent stake back in 2008.

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