Chrysler Building: Back on the Market
One of NYC's most iconic skyscrapers, the Chrysler Building, is once again up for sale. This follows the eviction of previous owners, RFR Holdings, for non-payment of rent.
<img src="https://hips.hearstapps.com/rover/profile_photos/52c0d61f-16e5-45e4-aed3-2ed16df82850_1747170716.file?fill=1:1&resize=120:*" alt="Chrysler Building" width="300">A Storied Past
Completed in 1930, the Chrysler Building briefly held the title of the world's tallest building. Designed by William Van Alen and commissioned by Walter P. Chrysler, its Art Deco style and stainless steel spire are instantly recognizable. The building's ownership has changed hands several times, including a 2008 sale for as much as $800 million and a significantly lower sale in 2019 for $150 million. The current sale is being handled by Savills, a British real estate firm, on behalf of Cooper Union, which owns the land.
Challenges Ahead?
While the asking price remains undisclosed, reports suggest potential challenges. Recent articles highlight tenant complaints about issues such as poor cell service, lack of natural light, elevator problems, and pest infestations. These factors could impact the final sale price, despite Manhattan's high real estate costs.
The Future of an Icon
The sale of the Chrysler Building represents a significant event in NYC's real estate landscape. The outcome will be closely watched, given the building's historical significance and current condition.
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