NYC's Chrysler Building May Become a Hotel Under Its New Owners
- Buyers are said to have agreed to $151 million deal for tower
- Rechler’s RXR is said to have lost bidding by about $1 million
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New York City’s landmark Chrysler Building, which is being bought for about a fifth of what it last sold for, could ultimately be transformed from an aging office tower into a hotel.
Aby Rosen’s RFR Holding LLC and Austrian real estate firm Signa Holding GmbH last week agreed to purchase the 77-story skyscraper near Grand Central Terminal for $151 million, significantly below the $800 million the Abu Dhabi Investment Council paid in 2008 for a 90 percent stake, according to a person with knowledge of the matter.