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.
Dubai has garnered much attention in recent years with a never-ending supply of architectural wonders being built, or proposed, at a head spinning pace. Mostly these towering structures are grand and tall, but some are also green
An ambitious project by David Fisher’s firm Dynamic Architecture looks set to be yet another new addition to Dubai’s skyline.
The building’s 59 floors will be capable of rotating about a central axis, their continuous motion allowing residents in the tower’s 200 apartments to choose a new view at the touch of a button.
Zaha Hadid Architects have developed designs for a new opera house and cultural centre for Dubai.
The fluid, dune-shaped will accommodate an opera house, playhouse, arts gallery, performing arts school and themed hotel on an island in Dubai Creek, just off the mainland part of the district. All of these facilities will be state of the art to host world class performances and exhibitions. The opera house will have a seating capacity of 2,500 while the playhouse will have a seating capacity of 800. The arts gallery with 5000m2 of exhibition space is indeed a full size exhibition facility comparable to the Guggenheim Museum in New York. The hotel will accommodate guests in a 6 star setting.
Sited on an island in Dubai Creek, the development will be connected to Greater Dubai by a road connection to the mainland.
The proposal houses all of the facilities within a single striking structure,” Zaha Hadid Architects describe the project. “The gentle winding form evokes images of mountains or sand dunes. Rising out of the ground, this form is both a part of the landscape yet very much a distinct element in the skyline. The surrounding landscape forms build up to the main building. These constitute open park spaces as well as ancillary functions such as the parking facilities and the monorail station, which are either tucked under or integrated into the landscape forms.
The Strata Tower, a forty-story, luxury residential building designed by architects Hani Rashid and Lise Anne Couture of Asymptote, has broken ground on Al Raha Beach and is now under construction.
The landmark Strata Tower is designed to signify a dignified and important future for Abu Dhabi and the region.
As a signature architectural statement, the Strata Tower’s articulate, striking physical presence seeks to encapsulate meaning through the use of abstract form drawn from both local cultural landscapes and motifs and dynamic forces of global influence.
The Chicago Spire, is one of the most ambitious projects in the U.S. According to Chicago Tribune, developer said Tuesday that it has sold 30 percent of the building’s condo units, which, it says, is proof the world’s tallest residential structure will be built.
The developer says they have already sold 30 percent of the building’s condo units, sending a strong signal that there is enough interest in the project despite the fact that the condos are priced higher than others in the city (the studio units start at $750,000) and that the developer has required 15 percent of a unit’s price upfront for each sale.
Spire spokeswoman Kim Metcalfe said the sales were achieved in just four months of marketing and counters critics who claimed the 2,000-foot-tall structure would never go up. Metcalfe emphasized that the 352 units booked are sales, not just offers of interest accompanied by deposits. “This is clearly a benchmark,” she said.
The Spire is designed with 1,194 units, including a $40 million penthouse, which is still for sale. The building is scheduled for completion in 2012.
Zaya, a Abu Dhabi-based real estate company has launched its first of many property ventures; Nurai, a spectacular private community of limited edition resort beach-front estates and water villas on a natural island off the coast of Abu Dhabi.
Derived from the Arabic word “nour” meaning light, Nurai is surrounded by clear waters and ringed with pristine sandy beaches. Lying immediately northeast of Abu Dhabi, the island is set in isolation away from the hustle and bustle of city life yet is within minutes from the mainland. People interested in resort beachfront estates will have their choice of two designs - ‘The Shoreline’ or ‘The Seaside’.
The Shoreline estates will consist of six bedrooms, seven bathrooms, private beach and rooftop garden with a total build area of 12,275 square feet.
Similar in size, but with five bedrooms and six baths, will be The Seaside estates. No detail has been overlooked. Each resort residence includes luxurious amenities such as a private beach and garden, infinity swimming pool, concealed service quarters and outdoor showers.
The resort is due to open in 2010 and the prices for the residences start at €20 million ($30 million)
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.
