The iconic Chrysler building in New York was sold at a loss

According to the Wall Street Journal, this 77-storey building, considered a masterpiece of art deco architecture, it was sold for 150 million US dollars to the RFR fund of New York real estate investor Aby Rosen and a "foreign partner" not identified.

The bottom Mubadala had disbursed 800 million US dollars in 2008 for 90% of its capital.

Tishman Speyer, who had bought the entire building for about $ 210 to $ 250 million in 1997, had retained 10%.

This sale comes at a difficult time for real estate in New York in general and in Manhattan in particular.

The Hudson Yards district on the west coast of Manhattan it will soon have more than 1.6 million square meters of new offices and housing, which will further increase the downward pressure on old buildings.

Another element that could frighten potential buyers is that the land on which the Chrysler It belongs to a third party, Cooper Union Private University.

In 1997, Tishman Speyer Negotiated a long-term lease until 2147 with the faculty, which stipulated that the rent would increase from 7.8 million in 2017 to 32.5 million per year from 2019 to 2027, according to documents consulted by the company. ; AFP.

Only the value of the land was estimated at $ 679 million at the end of 2017.

Opened in 1930 the Chrysler was, for eleven months only, the tallest building in the world with its 319 meters, before being dethroned by the Empire State (381 meters on the roof, 443 at the top of the needle).

Although named after its founder, Walter Chrysler, this company has never set up its offices in this tower at 42nd Street and Lexington Avenue.