NEW YORK An Abu Dhabi investment fund has bought a 75 percent stake in the Chrysler Building, one of the best-known landmarks on the city skyline.
The Abu Dhabi Investment Council, one of the world's largest sovereign wealth funds, closed the sale with Prudential Financial Inc. on Tuesday, Prudential spokeswoman Theresa Miller said.
Miller wouldn't disclose the sale price, which many published reports placed at $800 million. Prudential held its stake in the building on behalf of a fund of primarily German investors that had closed in the past couple of years, she said.
New York's Tishman Speyer Properties owns the remaining stake in the 77-story, Art Deco skyscraper and will continue to manage it.