Thursday, August 28, 2008

Iconic Chrysler Building Purchased by Abu Dhabi

The ever icon of Art Deco, Chrysler Building soaring in the New York skyline has been recently purchased by Abu Dhabi sovereign at US$2.8 billion.

The purchasing of the building was the second transaction of real estate this year on the Manhattan skyline.

Middle Eastern investors has been the top foreign claimers of buying commercial real state this year followed by German Investors.

Chrysler Building, a 77-storey edifice was designed by William Van Allen and was the most astronomical building in the skyline of Manhattan by the year it was finished, 1930. It was then permeated as the exemplary of Art Deco throughout the globe. The height has been overreached a year after by Empire Building.