Abu Dhabi To Buy Chrysler Building: Report

The latest Big Apple trophy being coveted by oil-rich sovereign wealth funds is the landmark Chrysler Building.

Sources say the super-rich Abu Dhabi Investment Council is negotiating an $800 million deal for a 75 percent stake in the Art Deco treasure that has defined the Midtown skyline since 1930.

Read the whole story here.

Comments

[VivaZapata]

The rest of Manhattan is being scooped up by Europeans thanks to the fire sale caused by our ever weakening currency, so why does it matter if the beautiful Chrysler building is sold to Abu Dhabi? Soon, not only will Americans not be able to live in New York; they won't even be able to visit.

[Old Writer]

I don't think we should sell the Chrysler building to Dubai. Selling off small pieces of our country is not right. We are not in the retail business.
Anyone will tell you that the money is in the wholesale business . We'd make out way better if we sold a whole state.
But, not New York state. We have too much invested there. It should be a state that we really can do without. Wyoming would be an excellent choice. There's not much going on there. A couple thousand head of cattle and a couple hundred cowboys.
It's a win-win deal. Dubai would own a genuine U.S. State and we'd get all our oil money back and then some.
Old Writer
HowToWriteComedy.com

[ROBOT8]

BUYING LANDMARKS GIVES PSYCHOLOGICAL CONTROL. ATTACK ME AND I DESTROY MY PROPERTY

[southafrica4obama]

There goes America to the middle east under Bush. Don't worry: we buy our oil, we buy your buildings. win win, right!

[KillTheMessenger]

Nobody forces us to buy their oil. We are doing it to ourselves. If Americans would conserve just 20% of their oil consumption, we would need to buy any oil from the Middle East. But we are gluttons, so we depend on them.

[sussex]

As someone who does not live in the US, I'd like to say that the Chrysler Building is an American national treasure and one of the finest surviving examples of art deco architecture. It should be a heritage site, preserved in perpetuity, for the pleasure and appreciation of all.

[KillTheMessenger]

I would think the interest in the building is exactly because it is such a landmark. I doubt the prospective new owners are planning to replace it with a Minaret.

[DontBeFoolish]

We are being bought out, suckered, laughed at and even killed at our own expense. How can you sell the Chrysler building to a foreigner? No prejudice here. It's just one of our landmarks. Mannnnn, this is sickening.

[KillTheMessenger]

So would you be willing to spend tax money on conservation of this landmark? I think that is a fair question. I would. But would YOU?

[PrdAmerican]

We are learning a sour lesson on what if feels like to see our history put up for auction to the highest bidder...from nations who have prospered from our foolishness and are now prospering far better than our struggling nation.....I now know how so many nations felt as the likes of Rockefeller, Hearst, etc. bought up masterpieces and relics from other nations...flaunting their wealth and caring not for the impact to those countries.

[racom]

So true, I think we can reverse this trend. My plan is, we sell the debt-ridden pentagon and free up our resources from this never ending financial black hole. Once we are free our economy soars and they then have to pour their resources into the black hole. They then begin to sink, we recover and all the world is set right again.

[larry278]

The deal will save another NYC landmark from destruction by terrorists. Which oil rich Muslim will buy the Empire State Building? Isn't the new WTC being shopped to wealthy Muslims yet? The PANY/NJ needs the money now. Muslims have the money. The politicians of NYC, NY & NJ will push the PA to seek & take Muslim money. It's a no brainer when the politicians & I can see this opportunity.
Go down [Robt] Moses.
larry lynch

[HotATL]

I am a poor (formally middle class) African American male. I haven"t benefited from the prosperity of this great nation. However, for some reason, this makes me sad.

[k6007]

Hey isn't he a m-u-s-l-i-m? Ooooooh, scary.

[heal57]

There's hope for all of us with an Obama election and positive outcome. Don't give up.
You are right to feel sad. We are selling out to the Saudis; the icon Chrysler Building. If the wealthy business interests in the US could sell the Grand Canyon, they would. I'm totally disgusted with the selling out of America.

[TheJibreelaMonsters]

An Italian Snags the Flatiron Building... I smell racism

[springsm]

Scoopers, America HAS been sold. There are no bounds to money..no ethics, no moral integrity, no consciencnous and no "patriotism". America is lost and it is interesting who is buying us up, don't you think? None of these countries are our friends...when they get what they want, I think we will be shocked spitless about what will happen. We have no will left in America. Bush, Cheney and Rummy are so vindictive that I wouldn't be surprised if they gain much, suffer none and are helping do this. I am not an alarmist or a conspiracy nut...but I am also wondering why I am not. The outcome of all of all this brings very sad and lost thoughts.

[txgal44]

Our beautiful Chrysler Building. Sold to a country who have not one ounce of respect for us. Who loathe us. Who think we're greedy and stupid. I want to cry.

[racom]

In this case I'd have to agree with them, we are stupid and greedy.

[DubiousAtBest]

That makes me ill. What next? Sell them the Grand Canyon, the Golden Gate Bridge and Disneyland?
Hell, let's just throw in the Washington Monument and Graceland and call this country SOLD.

[racom]

All the above now under price negotiation.

[NoGenius]

the dollar is for shit.
how about that macalowe? a 7 bill$ "city package"? is that some sort of investment reserved for municipalities? and he leveraged and then couldn't make the balloon payment. that's some big boy play time. he got $2.1bil for the GM building alone.

[lyingtruth]

Why not put the whole damn country on eBay?

[darker]

Fabulous that U.S. BIG OIL has arranged to sell the USA to the Arabs!

The gas "shortage" is a bunch of phony baloney. It's about CEO SALARIES & the BOTTOM LINES.

Gas will be around $15 per gallon by December 2008, as Bush-Cheney's BIG OIL pals enhance
their "mission accomplished" to raise prices AS HIGH AS POSSIBLE before they exit The White House.

The "silver bullet" is to NEVER ELECT REPUBLICANS ever again.
They will lie, cheat, steal and kill FOR PROFITS.

[k6007]

Some dems deserve that distinction, also.

[VolvoBirkenstock]

Better Dubai buys it and preserves it.

Trump would tear it down like he did the art deco Bonwit Teller building.

[hypnotoad72]

Perspective can be a good thing.

[txgal44]

I disagree. I'd rather Trump take it. Dubai is laughing at us. They hate us.