Chrysler Building up for saleA unique opportunity to purchase the iconic NYC landmark (just in case you have a spare billion).
If you have been thinking on buying a stylish Art Deco skyscraper for your nice collection, don't miss your lucky chance and have a look at the Chrysler Building. This legendary NYC landmark has been put on stock for an unrevealed price recently. Bearing in mind the tower was last purchased for $800 million (an Abu Dhabi investment found could afford it in 2008), and the prices tend to grow, be ready to shell out roughly a billion bucks.
A BILLION. Isn't too much for one of the world's most recognisable skyscrapers, is it?
Putting jokes aside, the building has been put on the block reportedly due to the rising cost of improvements required. For a structure completed in 1930 this is an inescapable thing. Moreover, the possible reason for the Abu Dhabi fund to part with its property is that it also faces rising costs of the land beneath the tower - it grows from year to year.
Still, no buyer has shown up yet so while the price is unlikely to be reduced, maybe the Chrysler Building is not going to change the owner in the near future.
The eighth-tallest skyscraper in the city, back in 1930 the Chrysler Building was even the tallest structure in the world - for 11 months only, before it was surpassed by the Empire State Building in 1931. The Chrysler Building features a tall spire, which existence had been kept in secret during construction works until it was unexpectedly added to finally beat the 40 Wall Street 47-storey tower. Thus Walter Chrysler kept his word to build the tallest skyscraper ever.
The tower served as Chrysler's car manufacture headquarters until the mid-1950s. After that, it changed various tenants, Time magazine being one of the most famous among them. The building also featured in many movies, e.g. King Kong, Spider-Man, and Men in Black.