Future of NYC’s Chrysler Building
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Avraham Glattman explains the future plans for the Chrysler Building. It is one of the historic landmarks that resides in New York City
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Future of NYC’s Chrysler Building
- 2. A V R A H A M G L A T T M A N . O R G BuiltinMayof1930, theChryslerbuilding beganas, realestatedeveloperandformerNewYorkState Senator,WilliamH.Reynolds’,project.Itwas eventuallyconstructedbytheheadoftheChrysler Corporation,WalterChryslerat1,046feettall.Itwas atonepoint,thetallestbuildingintheworldforonly 11monthsuntiltheEmpireStateBuildingwas erectedin1931.
- 3. A V R A H A M G L A T T M A N . O R G Thebuildingresidesatthe intersectionof42ndStreetand LexingtonAvenueinManhattan, ontheEastSideofMidtown.The ArtDeco-styleoftheChrysler buildingmakesitaskyscraper withallthebeautyinthedesign, eventhoughtheworld’stallest wastakenawayinjustshyofa year.Itnowholdsthetitleof eighthtallestbuildingin NewYorkCity.
- 4. A V R A H A M G L A T T M A N . O R G ThisbeautifulNewYorkCitylandmarkhasjustrecently comeintothenewsonfutureplansofthebuilding.At current,itisprimarilyusedtohousebusinessoffices.It isalsoatouristdestinationforanyonevisitingthecity. Touristsareallowedtoenterintothelobbyareaofthe buildingbutcangonofurthersincethebuildingis occupiedforworkingspaces.
- 5. A V R A H A M G L A T T M A N . O R G Thebuildingwasjustrecentlysold inMarch2019tonewownersfor $150billion.Thenewownersare talkingabout transformingthe buildingintoluxuryapartments, andkeepingtheoriginalArtDeco exteriorintactforthefactofit beingaNationalHistoricLandmark. Becauseofthisstatus,thenew ownerwillneedtoendurealong processofapprovalinorderto makethenecessarychangesfora newapartmentbuildinginNew YorkCity.
- 6. A V R A H A M G L A T T M A N . O R G Ifthenewownersdecidetomoveforwardwiththeir plansforahotel,thecostwillcomeinaround$150- $250millionfortherenovations.Theissueisthefact thatthebuildingiscurrentlybeingusedforofficeand storagespace,soreconstructingintohotelroomsis goingtotakesomeserioustimeandmoney.
- 7. A V R A H A M G L A T T M A N . O R G Itisinterestingtonotethat theotherbidderonthe building,RXRRealty,alsohad planstoturnasmallerpartof itintoahotel.Althoughatthis point,thesearejustmerely thoughtsandpossibilities discussedforthefutureofthe Chryslerbuilding,soitwillbe informationtofollowtofind outwhatwillbecomeofthis historicNewYorkCity landmarkinthecomingyears.