New York symbol: the Chrysler building was sold 150 million US dollars | Class

The Chrysler Building, one of the most emblematic of New York, it was sold with losses for their owners, the Mubadala, an Emirati investment company and the real estate group Tishman Speyer, reported the US press.

According to Wall Street Journal, this building of 77 floorsconsidered a masterpiece of art deco architecture, sold for $ 150 million to the RFR fund of New York real estate investor Aby Rosen and an unidentified "foreign partner".

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 in a Hard time for real estate in New York in general, and from Manhattan in particular.

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

Another element that could frighten potential buyers is that the the land on which the Chrysler is built belongs to a third party, the private university Cooper Union.

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

Only the value of the land was estimated at 679 million USD 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 at 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.