Deals
Chrysler Building to Sell to RFR for About $150 Million
- Abu Dhabi fund paid $800 million for a 90% stake in 2008
- Expensive ground lease and age of tower dented its value
This article is for subscribers only.
Aby Rosen’s RFR Holding LLC has reached an agreement to buy Manhattan’s landmark Chrysler Building for about $150 million, according to people with knowledge of the matter.
That price is significantly below the $800 million the Abu Dhabi Investment Council paid in 2008 for a 90 percent stake in the art deco tower near Grand Central Terminal. The deal includes both the office building and the Trylons -- the pyramid-shaped retail complex adjacent to the property -- said one of the people, who wasn’t authorized to speak because the matter is private.