The Chrysler Building will be sold for $150 million, a fraction of its previous sales price
The deal, first reported by the Wall Street Journal Friday, was for $150 million, according to a source familiar with the deal. Mubadala, an Abu Dhabi investment fund, purchased 90% of the building for $800 million in 2008. Real estate firm Tishman Speyer had owned the other 10%.The buyer is RFR Holdings, a New York real estate company. Officials with Tishman and RFR did not immediately respond to a request for comments.It's unclear when the deal will close.
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.The previous sale took place just before the 2008 financial meltdown led to a plunge in real estate prices.
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