The NY Post is reporting that the super-rich Abu Dhabi Investment Council is negotiating an $800 million deal for a 75 percent stake” of the Chrsyler Building. Which would mean the entire Art Deco skyscraper, designed by William Van Alen (who was never paid for his work!!) is valued at over $1 billion.

The Chrysler assets would be purchased from TMW - the German arm of an Atlanta-based investment fund that’s been eager to cash out of its Chrysler stake, which it bought for $300 million in 2001

Tishman-Speyer owns the other 25% and operates the whole building. Also included in the deal would be the Trylons retail space.

What’s interesting is that the Chrysler Building is situated on property that is owned by Cooper Union. Cooper Union benefits from the arrangement through lease-payment agreements, using the money to help their students pay tuition!