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Chrysler Building to Sell to RFR for About $150 Million

  • Abu Dhabi fund paid $800 million for a 90% stake in 2008
  • Expensive ground lease and age of tower dented its value
Updated on

Aby Rosen’s RFR Holding LLC has reached an agreement to buy Manhattan’s landmark Chrysler Building for about $150 million, according to people with knowledge of the matter.

That price is significantly below the $800 million the Abu Dhabi Investment Council paid in 2008 for a 90 percent stake in the art deco tower near Grand Central Terminal. The deal includes both the office building and the Trylons -- the pyramid-shaped retail complex adjacent to the property -- said one of the people, who wasn’t authorized to speak because the matter is private.