Chrysler Building to get its crown restored after being sold
Source: BBC ·
The distinctive Manhattan skyescraper will undergo a major renovation and provide a new supply of offices.
From the source
The skyscraper was briefly the world's tallest building The Chrysler Building, one of the most distinctive high-rises in Manhattan's skyline, will undergo a major renovation as part of a multi-million-dollar sale deal. The skyscraper, opened in New York nearly 100 years ago, will see its Art Deco crown polished and restored during a refurbishment that will also involve the restoration of the building's 77-storey façade. Developer Tishman Speyer has taken over the lease from the Cooper Union for the Advancement of Science and Art, a private college. Tishman Speyer and its partners will invest $235m (£178m) in the project, as part of which it will upgrade the 61st floor, which is home to huge eagle gargoyles and will also feature an "upscale" lounge. The developer is planning to use most of the building, which is close to Grand Central railway station, for office space. It is following what it calls a "prebuild approach" that will allow firms to move into their new premises quickly.…
BestAIBroker analysis
- Finance-aware sentiment: slightly positive (+0.10 on a -1 to +1 scale).
- Event classification: OTHER.
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