The Chrysler Building is now for sale as the owners, the Abu Dhabi Government Fund and Tishman Speyer, have hired CBRE to market the building. The Abu Dhabi Government Fund acquired 90% of the building in 2008 and Tishman Speyer has spent over $100 million on improvements since they acquired the tower in 1997. The Chrysler Building, which broke ground in 1928 and was completed in 1930, rises 77-stories and was the tallest building in the world until it was passed the The Empire State Building in 1931. The building was designed by William Van Alen and was developed by Walter P. Chrysler. The Chrysler Building is on a ground lease with Cooper Union for $32.5 million annually. The lease reset in 2018 from $7.75 million and will jump up again in 2028 to $41 million. The Abu Dhabi Government Fund was able to attract a slew of new tenants including co-working giant Spaces and Creative Arts Agency.
