The Chrysler Building is officially for sale—again.
Once a pinnacle of architectural ambition, New York’s 77-story Art Deco crown jewel was sold in 2019 for $150 million to co-owners Signa, an Austrian real estate company, and RFR, a New York-based development firm, the New York Times reported. Per the publication, the government of Abu Dhabi bought 90 percent of the building for $800 million in 2008.
In 2023, Signa filed for insolvency and an Austrian court ruled it would have to sell its share of the building. This year in January, a courtroom fiasco ended with a $21 million eviction notice and a developer, RFR Holding, being ousted from the lease, Crain’s New York Business reports.
Now, London-based real estate services company Savills has been brought on to handle the sale, according to Time Out. In 2019, the building’s ground lease was a lofty $32.5 million, per the NYT, a number that is set to climb to $41 million by 2028. That’s not including maintenance and repairs.
Aerial view of New York City, circa 1950s.
Completed in 1930, the Chrysler Building is one of New York City’s most iconic skyscrapers and a crowning achievement of Art Deco architecture. Designed by architect William Van Alen, it was commissioned by auto magnate Walter P. Chrysler, who saw it as a monument to both his company and himself. At 1,046 feet, it briefly held the title of the world’s tallest building—thanks in part to its surprise spire, secretly assembled inside and raised at the last minute to beat the competition. It was declared a New York City landmark in 1978 and remains a beloved Art Deco landmark.
Despite its iconic exterior, tenants have voiced frustration over outdated infrastructure and minimal modern perks. Complaints range from spotty cell reception and poor lighting to malfunctioning elevators and water quality issues.
The asking price remains undisclosed.
Rachel Silva is the associate digital editor at ELLE DECOR, where she covers all things design, architecture, and lifestyle. She also oversees the publication’s feature article coverage, and is, at any moment, knee-deep in an investigation on everything from the best spa gifts to the best faux florals on the internet right now. She has more than 16 years of experience in editorial, working as a photo assignment editor at Time and acting as the president of Women in Media in NYC. She went to Columbia Journalism School, and her work has been nominated for awards from ASME, the Society of Publication Designers, and World Press Photo.
