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Chrysler Building Renovation and Sale

Sector: Water Supply and Storage • Location: New York, United States

Source: The B1M

Project
For Sale

The Chrysler Building, an iconic Art Deco skyscraper in New York City, is in a state of disrepair with issues such as brown tap water, broken elevators, and crumbling offices. The building's value has dropped significantly, and it is for sale again. The current owner only owns the building, not the land, which is leased from Cooper Union with increasing rent payments. The building requires extensi

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Project Information

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The project “Chrysler Building Renovation and Sale” is an infrastructure initiative in the Water Supply and Storage sector, located in New York, New York, United States. Taiyo aggregates data on it from The B1M.

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Participants

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Status

Original status

for sale

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Contact

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Email

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Description

Description

The Chrysler Building, an iconic Art Deco skyscraper in New York City, is in a state of disrepair with issues such as brown tap water, broken elevators, and crumbling offices. The building's value has dropped significantly, and it is for sale again. The current owner only owns the building, not the land, which is leased from Cooper Union with increasing rent payments. The building requires extensive renovation estimated to cost between $150 million and $200 million to modernize and make it competitive for tenants. The future of the building depends on negotiations regarding the land lease and potential buyers, including former owner Tishman Speyer.

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Source

Source reliability

High

Data quality score

100%

Source

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URL

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More Details

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