Iconic Chrysler Building in New York Put Up For Sale by Mubadala, Tishman Speyer

by David Cohen

NEW YORK CITY — The Chrysler Building, one of New York City’s most iconic skyscrapers has been put up for sale by its owners, Emirati investment firm Mubadala and real estate group Tishman Speyer, according to media reports. The 77-story building opened in 1930 and stands 1,046 feet tall. It was the world’s tallest building until it was dethroned by the Empire State Building in 1931. Mubadala paid $800 million for a 90 percent stake in the building in 2008. Tishman Speyer, which had bought the building outright for a reported $210 million to $250 million in 1997, retained a 10 percent stake. The Abu Dhabi investment fund has reportedly hired CBRE group to sell the property.

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