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FRIDAY, NOVEMBER 27, 2009
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PREMIUM NEWS ARCHIVE

Abu Dhabi investors buy stake in Chrysler Building.(Main)

Article from: Albany Times Union (Albany, NY) Article date: July 10, 2008

NEW YORK - An Abu Dhabi investment fund has bought a big stake in New York City's landmark Chrysler Building.

A spokeswoman for Prudential Financial Inc. in Newark, N.J., says the insurer sold its 75 percent stake in the Art Deco skyscraper to the Abu Dhabi Investment Council. Prudential spokeswoman Theresa Miller says the deal was closed on Tuesday.

Prudential isn't disclosing the sale price. New York City development company Tishman Speyer Properties owns the remaining stake and will still manage the 77-story building.

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