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Tishman Speyer Takes Over Chrysler Building With Big Renovation Plans
The New York Times • • business
Key Points:
- The Chrysler Building, an iconic Art Deco skyscraper in Manhattan, is being purchased by Tishman Speyer and other investors for $235 million, with plans for significant interior renovations.
- The sale follows a period of financial troubles and neglect by previous owners, which led to high vacancy rates and criticism over the building's upkeep.
- Tishman Speyer CEO Rob Speyer announced intentions to modernize the building’s infrastructure, including overhauling elevators and restoring the stainless steel crown to its original shine.
- The 1,046-foot tower, designed by William Van Alen, was once the world's tallest building and has housed notable tenants such as Western Union and the Chrysler Corporation.
