The owners of the Chrysler building have reached an agreement to sell the iconic New York building at "just over $ 150 million," the Wall Street Journal reported Saturday.
Art deco masterpiece
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The Tishman Speyer real estate group, which had purchased the building for $ 210 million to $ 250 million in 1997, had retained a 10% interest.
The owners do not have the floor
According to the Journal, the owners of the building do not own the land and pay an annual rent that has increased from $ 7.75 million to $ 32 million in 2018 and is expected to increase to $ 41 million. 2028.
Quoting brokers, the newspaper said that these fees "have nibbled much, if not all, of the income from the building."
The building also has some 37,000 square meters of vacant space or will become in the coming years, the Journal added.
The Chrysler Building, which opened in 1930, is 1,046 feet (319 meters) tall. It was the tallest building in the world, but only for eleven months, after which it was dethroned by the Empire State Building, also in Manhattan.
The building was a personal project of Walter Chrysler, founder of the automaker that bears his name, but which remained separate from the auto sector.