The First Art Newspaper on the Net   Established in 1996 United States Monday, June 24, 2019


Abu Dhabi Fund Acquires Stake In New York City's Chrysler Building for $800 Million
The Chrysler Building.


NEW YORK.- A fund controlled by Abu Dhabi has acquired the Chrysler building, an Art Deco icon of the New York City skyline, for $800 million. The New York Times reported that the Abu Dhabi fund purchased a 90% stake of the building, but the property will still be controlled by Tishman Speyer Properties.

The Chrysler Building was designed by architect William Van Alen to house the Chrysler Corporation. When the ground breaking occurred on September 19, 1928, there was an intense competition in New York City to build the world's tallest skyscraper. Despite a frantic pace (the building was erected at an average rate of four floors per week), no workers died during the construction of this skyscraper.

Van Alen's original design for the skyscraper called for a decorative jewel-like glass crown. It also featured a base in which the showroom windows were tripled in height and topped by twelve stories with glass-wrapped corners, creating an impression that the tower appeared physically and visually light as if floating on mid-air. The height of the skyscraper was also originally designed to be 246 metres (807 ft). However, the design proved to be too advanced and costly for building contractor William H. Reynolds, who disapproved of Van Alen's original plan. The design and lease were then sold to Walter P. Chrysler, who worked with Van Alen and redesigned the skyscraper for additional stories; it was eventually revised to be 282 metres (925 ft) tall. As Walter Chrysler was the chairman of the Chrysler Automobile Corporation, various architectural details and especially the building's gargoyles were modeled after Chrysler automobile products like the hood ornaments of the Plymouth, and in which must also exemplify the machine age in the 1920s.





Today's News

July 12, 2008

Abu Dhabi Fund Acquires Stake In New York City's Chrysler Building for $800 Million

Albright-Knox Art Gallery Acquires 71 Works from the Panza Collection

Carl Sammons: California Impressionist Landscapes from the Donna Walsh Sumner Collection

Katia Baudin Appointed Deputy Director of the Ludwig Museum in Cologne

Contemporary Glass: Chihuly and Beyond Opens at New Britain Museum of American Art

The Museum of the Americas in Doral Presents International Exhibitions

Cosmic Communist Constructions Photographed at Chicago Architecture Foundation

David Keens: Reflection New Work in Glass Opens at Arlington Museum

The Chelsea Art Museum Presents Nature Interrupted, Curated By Elga Wimmer

BYU MOA Exhibition Explores 'Turning Point' in American Art History

The Spencer Museum of Art Presents Quilts: Flora Botanica

Preview Berlin - The Emerging Art Fair Announced

Sotheby's Institute of Art Appoints Dr. Jos Hackforth-Jones as Director of its London Institute

Eleventh International Art and Artificial Life Competition Vida 11.0 Now Accepting Entries

ArtsKC Fund Announces New Catalyst and Ovation Grant Recipients

Kimbell Art Museum to Open Shop in New Omni Fort Worth Hotel

Most Popular Last Seven Days



1.- Art of early man found in the greatest meteor crater on earth

2.- Exhibition celebrates Helmut Newton's 50-year career through a rare and unseen collection of vintage prints

3.- World's most costly painting on Saudi prince's yacht: report

4.- Sotheby's celebrates the 50th anniversary of the Apollo 11 Moon landing with an auction

5.- Domaine de Chantilly exhibits Leonardo da Vinci's 'Nude Mona Lisa'

6.- New book offers front-row seat to greatest concert in history

7.- The New York Botanical Garden opens its largest botanical exhibition ever

8.- The most famous car in the world: RM Sotheby's presents James Bond Aston Martin DB5

9.- Mexico unearths what may be historic recording of Frida Kahlo

10.- Exhibition of Pierre-Auguste Renoir's paintings marks centenary of his death

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