The Wall Street Journal: New York’s landmark Chrysler Building sells for a bargain $150 million

The owners of New York City’s Chrysler Building have reached a deal to sell the iconic skyscraper for a little more than $150 million, unloading the 77-story office tower at a substantial loss, according to people familiar with the matter.

The New York real-estate firm RFR Holding LLC, which owns the Mies van der Rohe-designed Seagram building in Manhattan, and the Austrian real-estate firm Signa Holding GmbH signed a contract to acquire the Chrysler Building say people familiar with the matter. The Abu Dhabi Investment Council in 2008 acquired a 90% stake for $800 million.

While widely considered one of the world’s most recognizable buildings and a classic of art deco style, the Chrysler building faces a number of challenges that enabled the buyers to nab it for a fraction of the previous sales price.

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