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Owners of Chrysler Building looking to sell: WSJ

The Chrysler Building is seen from above in New York City.
Alex Trautwig | Getty Images

The owners of New York City's Chrysler Building have hired real estate services firm CBRE Group to market the property, The Wall Street Journal reported on Wednesday, citing the chairman of CBRE's New York City capital markets group.

The Abu Dhabi Investment Council took a majority stake in the building for a reported $800 million in 2008, while real-estate firm Tishman Speyer Properties owns the remaining stake.

The skyscraper has been a part of the Manhattan skyline since 1930 and was the world's tallest building until it was surpassed by the Empire State Building 11 months later.

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Key Points
  • Chinese conglomerate HNA said it had sold a majority stake in a Manhattan building in a $422 million deal.
  • The deal was the latest in a slew of asset disposals undertaken by the group to ease an intensifying cash crunch.
  • HNA did not give details of the buyer, but a spokesman for the group confirmed the verity of a report by U.S. real estate news website Bisnow that earlier reported the sale of 850 Third Avenue and the deal value.