Chrysler Building to get its crown restored after being sold
Summary
The Chrysler Building in New York City will be refurbished after being sold in a $235 million lease deal. The renovation will restore its famous crown and façade, upgrade office spaces, and improve internal systems.Key Facts
- The Chrysler Building, nearly 100 years old, is an Art Deco skyscraper in Manhattan.
- Developer Tishman Speyer has taken over the lease from Cooper Union, a private college.
- They will invest $235 million to restore the building's crown, façade, and office spaces.
- The 61st floor, featuring large eagle gargoyles, will get an upgraded upscale lounge.
- Most of the building will be used for office space, with a "prebuild approach" to speed up workplace readiness.
- The area near Grand Central Station has very little available office space.
- Internal upgrades will include mechanical, elevator, electrical, and air systems.
- Cooper Union will use lease payments to fund full-tuition scholarships for undergraduates.
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