New York’s Chrysler Building, one of the world’s most recognisable skyscrapers, has once again been put up for sale, sparking considerable interest in the property market. The price remains undisclosed for now, but analysts predict that the amount could reach or exceed $150 million. This is the value for which the building was bought by RFR Holding and Signa Group in 2019.
The soaring tower rises in midtown Manhattan, at the intersection of 42nd Street and Lexington Avenue. The Chrysler Building measures 319 metres high and has 77 floors, which was extremely impressive at the time of its construction. When completed in 1930, the building became the tallest building in the world, surpassing the Eiffel Tower, among others. However, it only held this title for one year, until the Empire State Building was handed over. The architect responsible for the design was William Van Alen, who created a world-renowned masterpiece of exceptional slenderness and dynamism, perfectly in keeping with the art déco aesthetic. The building was commissioned by Walter Chrysler, the founder of the Chrysler Corporation, who wanted to commemorate his own achievements and build a headquarters worthy of the power of his brand. It is therefore no coincidence that the architectural details of the skyscraper resemble car parts, such as radiator caps or hubcaps.
The most famous and distinctive element of Van Alen’s design is the shiny steel spire. It was made of ‘Nirosta’ stainless steel, and its shine and geometric ornaments still make the skyscraper appear futuristic after almost a century. The interior of the building also reflects the spirit of the era. The entrance hall is decorated with marbles, geometric mosaics and a fresco by Edward Trumbull entitled ‘Transport and Human Endeavor’, depicting modernity through images of aircraft, factories and assembly line scenes. The whole emphasises the skyscraper’s connection to the automotive industry and the ambitions of technological progress.
The proud history of the Chrysler Building is also not without its difficult moments. The building was constructed during the construction boom of the 1920s, but its completion coincided with the onset of the Great Depression. Despite the luxurious finish, some elements therefore needed modification. The observation terrace, for example, was quickly closed and the space was transformed into the exclusive Cloud Club, a private dining room for the financial elite, which operated until the 1970s. During the recession, tenants dwindled and the office space was for a time only 17% leased. The spire was renovated in the 1990s, and in 2005 the New York Skyscraper Museum recognised the Chrysler Building as one of the most important buildings in the city’s history.
Today, the building faces another chapter in its history. Despite the continued admiration for its timeless form, the outdated Chrysler Building is in need of a major upgrade. Today’s tenants’ needs, such as access to natural light, high-speed connections or reliable lifts, often outweigh the age-old structure’s capabilities. The new owner will have to find a way to reconcile the need to preserve the incredibly valuable architectural heritage with the demands of the 21st century market.
Source: tvn24.pl, townandcountrymag.com
Also read: Architecture | Office building | Elevation | Curiosities | Skyscraper | New York | United States
