In March 2019, the SIGNA Group and New York property developer RFR Holding joined forces to acquire the city’s iconic Chrysler Building from the previous owners, the Abu Dhabi Investment Council and Tishman Speyer. The aim is to retain this unique property in the long term and return it to its former glory as one of Manhattan’s most exclusive addresses.
For SIGNA, the move is more than an initial, strategically significant step into the US property market: it is a milestone.
The celebrated Chrysler Building is a perfect fit for SIGNA’s portfolio of trophy assets that the Group enhances by means of modern, visionary concepts, bringing them up to the very latest standards and retaining them in the long run. An architectural icon recognised all over the world, the Chrysler Building has long-term potential that SIGNA and its partner RFR will realise.
RFR and SIGNA have forged a successful partnership over the years. In 2017, SIGNA purchased RFR’s portfolio of landmark properties in Germany – the largest real estate transaction concluded in the country that year.
Built in 1930, the Chrysler Building is one of the most famous properties in the world thanks to its unique and unmistakable architecture. Located at 405 Lexington Avenue (at the corner of 42nd Street), the time-honoured skyscraper is regarded as an art deco masterpiece. Standing 319 metres, it was once the world’s tallest building. It is currently the 13th highest building in the United States and one of New York’s best-known landmarks. The property’s tenants include well-known companies such as Creative Artists Agency, Clyde & Co, InterMedia Partners and the YES Network.