|
 New
York: The Abu Dhabi Investment Council is
negotiating to buy a 75 per cent stake in New York
City's landmark Chrysler Building for $800 million,
the New York Post reported on Wednesday.
The paper cited sources as saying the assets would
be purchased from TMW, the German arm of an
Atlanta-based investment fund.
Sources told the Post that the Abu Dhabi Investment
Council would also get part of the skyscraper's
Trylons retail space next door and that Tishman
Speyer would remain in charge of the building, with
the Abu Dhabi fund essentially acting as a silent
partner.
The agreement would follow last month's deal in
which a group led by Boston Properties Inc would buy
the GM Building and three others from Macklowe
Properties for $3.45 billion. The Post said
investors in that deal included the wealth funds of
Kuwait and Qatar.
The Chrysler Building remains the world's tallest
brick building. After the destruction of the World
Trade Centre, it was again the second-tallest
building in New York City until December 2007, when
the spire was raised on the 365.8-metre Bank of
America building, pushing the Chrysler Building into
third position. |
