Majority and minority owners of the Chrysler Building in New York—the Abu Dhabi Investment Council and New York-based investment group Tishman Speyer, respectively—plan to sell the landmark skyscraper. The owners have hired Los Angeles and New York–based CBRE Group Inc. to market the property, Aaron Richardson, CBRE Group's director of global communications tweeted earlier today.
The owners of the art deco skyscraper have hired CBRE to sell the property. https://t.co/kfXk70eJxj— Aaron Richardson (@Richardson_AJ) January 9, 2019
The Wall Street Journal reported that Tishman Speyer spent $100 million on repairs to the building during its initial acquisition in 1997. The Abu Dhabi Investment Council then bought a 90 percent stake in the building for $800 million in 2008. Since the partnership, both parties have also spent additional funds on maintenance.
The asking price has not yet been announced.