Who owns chrysler building

West 14th Street, 4, SF, Lexington Avenue, Suite All rights reserved. Remember me Forgot Password? New User? Create an Account. Sign Up. View All Listings. Save Property Searches. Receive Listing Updates. Weighing on the sale price was the rent that the Chrysler Building has to pay to the Cooper Union school, because it does not own the land underneath the property.

The deal marks Signa's debut in the U. Signa is no stranger in investing in numerous landmark buildings in prime locations. Skip Navigation. Key Points. Read More. The incentive to sell the building at such a huge loss was due to the soaring rent the owners pay to Cooper Union, a New York college, for the land under the building. Meantime, rents in the building itself are not rising nearly that fast.

While the building is an iconic landmark in the New York skyline, it is competing against newer office towers with large floor-to-ceiling windows and all the modern amenities. Still the building is among the best known in the city -- even to people who have never been to New York. It is famous for its triangle-shaped, vaulted windows worked into the stylized crown, along with its distinctive eagle gargoyles near the top.

The previous sale took place just before the financial meltdown led to a plunge in real estate prices. The Chrysler Building was the headquarters of the American automaker until , but it was named for and owned by Chrysler chief Walter Chrysler, not the company itself. Walter Chrysler had set out to build the tallest building in the world, a competition at that time with another Manhattan skyscraper under construction at 40 Wall Street at the south end of Manhattan.

He kept secret the plans for the spire that would grace the top of the building, building it inside the structure and out of view of the public until 40 Wall Street was complete.