Chrysler Building on the Block
The latest Big Apple trophy being coveted by oil-rich sovereign wealth funds is the landmark Chrysler Building. Sources say the super-rich Abu Dhabi Investment Council is negotiating an $800 million deal for a 75 percent stake in the Art Deco treasure that has defined the Midtown skyline since 1930. (Snip) The deal follows last month's sale of the GM Building and three other Macklowe/Equity Portfolio properties for $3.95 billion to a group of investors including the wealth funds of Kuwait and Qatar...
[the bright side? we're getting our money back...]
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