Abu Dhabi Fund Acquires Stake In New York City’s Chrysler Building for $800 Million
Published July 12th, 2008
A fund controlled by Abu Dhabi has acquired the Chrysler building, an Art Deco icon of the New York City skyline, for $800 million. The New York Times reported that the Abu Dhabi fund purchased a 90% stake of the building, but the property will still be controlled by Tishman Speyer Properties. The Chrysler Building was designed by architect William Van Alen to house the Chrysler Corporation. When the ground breaking occurred on September 19, 1928, there was an intense competition in New York City to build the world’s tallest skyscraper
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