Editing Chrysler Building (section)

=== <span class="anchor" id="Ownership"></span><span class="anchor" id="Later history"></span> Use ===
====<span class="anchor" id="20th century"></span> 1940s to 1960s====
[[File:NYCbyPinHt update.jpg|thumb|left|Height comparison of buildings in New York City]]

The Chrysler family inherited the property after the death of Walter Chrysler in 1940, with the property being under the ownership of W.P. Chrysler Building Corporation.{{sfn|Curcio|2001|p=ix}} In 1944, the corporation filed plans to build a 38-story annex to the east of the building, at 666 Third Avenue.<ref>{{cite web |date=September 27, 1944 |title=Chrysler Addition To Cost $3,000,000 |url=https://timesmachine.nytimes.com/timesmachine/1944/09/27/86731393.pdf |archive-url=https://web.archive.org/web/20210811211748/https://timesmachine.nytimes.com/timesmachine/1944/09/27/86731393.pdf |archive-date=August 11, 2021 |url-status=live |access-date=November 4, 2017 |website=The New York Times |issn=0362-4331}}</ref> In 1949, this was revised to a 32-story annex costing $9 million.<ref>{{cite web |date=November 24, 1949 |title=Chrysler Building Plans Expansion |url=https://timesmachine.nytimes.com/timesmachine/1949/11/24/96479297.pdf |archive-url=https://web.archive.org/web/20210811211713/https://timesmachine.nytimes.com/timesmachine/1949/11/24/96479297.pdf |archive-date=August 11, 2021 |url-status=live |access-date=November 4, 2017 |website=The New York Times |issn=0362-4331}}</ref> The annex building, designed by [[Reinhard, Hofmeister & Walquist]],<ref name="RealDeal-666Third">{{cite web |date=March 30, 2015 |title=666 Third Avenue |url=https://therealdeal.com/new-research/topics/property/666-third-avenue/ |access-date=November 4, 2017 |website=The Real Deal New York |archive-date=January 29, 2017 |archive-url=https://web.archive.org/web/20170129171611/https://therealdeal.com/new-research/topics/property/666-third-avenue/ |url-status=dead}}</ref><ref>{{cite web |date=June 25, 1950 |title=Sales Of Flooring Show Big Increase |url=https://timesmachine.nytimes.com/timesmachine/1950/06/25/91104991.pdf |access-date=November 4, 2017 |website=The New York Times |issn=0362-4331}}</ref> had a facade similar to that of the original Chrysler Building. The stone for the original building was no longer manufactured, and had to be specially replicated.<ref>{{cite web |date=September 2, 1951 |title=Old Brick Duplicated |url=https://timesmachine.nytimes.com/timesmachine/1951/09/02/105217514.pdf |archive-url=https://web.archive.org/web/20210106145546/https://timesmachine.nytimes.com/timesmachine/1951/09/02/105217514.pdf |archive-date=January 6, 2021 |url-status=live |access-date=November 4, 2017 |website=The New York Times |issn=0362-4331}}</ref> Construction started on the annex in June 1950,<ref>{{cite news |date=June 21, 1950 |title=Chrysler Starts New Skyscraper |page=4 |work=Buffalo Courier-Express |agency=Associated Press |url=http://fultonhistory.com/highlighter/highlight-for-xml?altUrl=http%3A%2F%2Ffultonhistory.com%2FNewspapers%252021%2FBuffalo%2520NY%2520Courier%2520Express%2FBuffalo%2520NY%2520Courier%2520Express%25201950%2FBuffalo%2520NY%2520Courier%2520Express%25201950%2520-%25206255.pdf |archive-url=https://web.archive.org/web/20210811211717/http://fultonhistory.com/Newspapers%2021/Buffalo%20NY%20Courier%20Express/Buffalo%20NY%20Courier%20Express%201950/Buffalo%20NY%20Courier%20Express%201950%20-%206255.pdf |archive-date=August 11, 2021 |url-status=live |access-date=November 3, 2017 |via=[[Fultonhistory.com]]}}</ref> and the first tenants started leasing in June 1951.<ref>{{cite web |date=June 21, 1951 |title=Chrysler Tenants Lease In New Annex |url=https://timesmachine.nytimes.com/timesmachine/1951/06/21/91641646.pdf |archive-url=https://web.archive.org/web/20210811211716/https://timesmachine.nytimes.com/timesmachine/1951/06/21/91641646.pdf |archive-date=August 11, 2021 |url-status=live |access-date=November 4, 2017 |website=The New York Times |issn=0362-4331}}</ref> The building itself was completed by 1952,<ref name="RealDeal-666Third" /> and a [[sky bridge]] connecting the two buildings' seventh floors was built in 1959.<ref>{{cite web |date=August 14, 1959 |title=Bridge Is Built to Link Offices in 2 Buildings |url=https://timesmachine.nytimes.com/timesmachine/1959/08/14/80543481.pdf |archive-url=https://web.archive.org/web/20210811211714/https://timesmachine.nytimes.com/timesmachine/1959/08/14/80543481.pdf |archive-date=August 11, 2021 |url-status=live |access-date=November 4, 2017 |website=The New York Times |issn=0362-4331}}</ref>

The family sold the building in 1953 to [[William Zeckendorf]]<ref name="NYTimes-New-Owner-1997">{{cite news |last=Bagli |first=Charles V. |date=November 25, 1997 |title=A New Owner To Take Over An Old Classic |newspaper=The New York Times |url=https://www.nytimes.com/1997/11/25/nyregion/a-new-owner-to-take-over-an-old-classic.html |access-date=February 15, 2016 |issn=0362-4331}}</ref>{{sfn|Stern|Fishman|Tilove|2006|p=478}} for its assessed price of $18 million.{{sfn|Curcio|2001|p=635}} The 1953 deal included the annex and the nearby [[Graybar Building]], which, along with the Chrysler Building, sold for a combined $52 million. The new owners were Zeckendorf's company [[Webb and Knapp]], who held a 75% interest in the sale, and the Graysler Corporation, who held a 25% stake. At the time, it was reported to be the largest real estate sale in New York City's history.<ref>{{cite web |last=Bradley |first=John A. |date=October 10, 1953 |title=Chrysler, Graybar Buildings Sold for a Record 52 Million; Principals in Record $52,000,000 Real Estate Deal |url=https://timesmachine.nytimes.com/timesmachine/1953/10/10/110067504.pdf |archive-url=https://web.archive.org/web/20210106145547/https://timesmachine.nytimes.com/timesmachine/1953/10/10/110067504.pdf |archive-date=January 6, 2021 |url-status=live |access-date=November 3, 2017 |website=The New York Times |issn=0362-4331|postscript=none}}; {{cite news |date=October 10, 1953 |title=Chrysler Building Sold For $52 Million |page=9 |work=Union Sun and Journal |agency=Associated Press |location=Lockport, New York |url=http://fultonhistory.com/highlighter/highlight-for-xml?altUrl=http%3A%2F%2Ffultonhistory.com%2FNewspaper%252018%2FLockport%2520NY%2520Union%2520Sun%2520Journal%2FLockport%2520NY%2520Union%2520Sun%2520Journal%25201953%2FLockport%2520NY%2520Union%2520Sun%2520Journal%25201953%2520-%25203926.pdf |access-date=November 3, 2017 |via=[[Fultonhistory.com]]}}</ref> In 1957, the Chrysler Building, its annex, and the Graybar Building were sold for $66 million to [[Lawrence Wien]]'s realty syndicate, setting a new record for the largest sale in the city.<ref>{{cite web |date=July 26, 1957 |title=Chrysler Building In 66 Million Sale |url=https://timesmachine.nytimes.com/timesmachine/1957/07/26/84749696.pdf |archive-url=https://web.archive.org/web/20210811211732/https://timesmachine.nytimes.com/timesmachine/1957/07/26/84749696.pdf |archive-date=August 11, 2021 |url-status=live |access-date=November 3, 2017 |website=The New York Times |issn=0362-4331}}</ref>
[[File:Chrysler Building 1965 (cropped).tif|thumb|The Chrysler Building in 1965]]
In 1960, the complex was purchased by [[Sol Goldman]] and Alex DiLorenzo,<ref>{{cite web |last=Horsley |first=Carter B. |date=June 3, 1979 |title=The Goldman-DiLorenzo Empire And the Toss of a Coin |url=https://www.nytimes.com/1979/06/03/archives/the-goldmandilorenzo-empire-and-the-toss-of-a-coin-the-great.html |access-date=November 3, 2017 |website=The New York Times |issn=0362-4331}}</ref> who received a mortgage from the [[Massachusetts Mutual Life Insurance Company]].<ref>{{cite web |last=Horsley |first=Carter B. |date=August 30, 1975 |title=Foreclosure Begun on Chrysler Building |url=https://timesmachine.nytimes.com/timesmachine/1975/08/30/76597349.pdf |archive-url=https://web.archive.org/web/20210126063435/https://timesmachine.nytimes.com/timesmachine/1975/08/30/76597349.pdf |archive-date=January 26, 2021 |url-status=live |access-date=November 3, 2017 |website=The New York Times |issn=0362-4331}}</ref> The next year, the building's stainless steel elements, including the needle, crown, gargoyles, and entrance doors, were polished for the first time.{{sfn|Cobb|2010|p=121}}<ref name="NYTimes-Scrubbing-1961">{{cite web |date=September 22, 1961 |title=10 Men Giving Chrysler Building First Scrubbing |url=https://www.nytimes.com/1961/09/22/archives/10-men-giving-chrysler-building-first-scrubbing-crew-mast-use-elbow.html |access-date=November 6, 2017 |website=The New York Times |issn=0362-4331}}</ref> A group of ten workers steam-cleaned the facade below the 30th floor, and manually cleaned the portion of the tower above the 30th floor, for a cost of about $200,000.<ref name="NYTimes-Scrubbing-1961" /> Under Goldman and DiLorenzo's operation, the building began to develop leaks and cracked walls, and about {{convert|1200|yd3}} of garbage piled up in the basement. The scale of the deterioration led one observer to say that the Chrysler Building was being operated "like a tenement in the South Bronx".{{sfn|Stern|Fishman|Tilove|2006|p=478}}<ref>{{Cite news |last=Goldberger |first=Paul |date=March 12, 1978 |title=Future of the Chrysler Building Is Looking Up |language=en-US |work=The New York Times |url=https://www.nytimes.com/1978/03/12/archives/future-of-the-chrysler-building-is-looking-up.html |access-date=July 5, 2022 |issn=0362-4331}}</ref> The Chrysler Building remained profitable until 1974, when the owners faced increasing taxes and fuel costs.<ref name="m105002039">{{Cite news |last=Lewis |first=John |date=April 18, 1976 |title=Chrysler Building hopes to be old self |pages=522, [https://www.newspapers.com/clip/105002173/ 553] |work=New York Daily News |url=https://www.newspapers.com/clip/105002039/chrysler-building-hopes-to-be-old/ |access-date=July 5, 2022}}</ref>

====1970s to mid-1990s====
Foreclosure proceedings against the building began in August 1975, when Goldman and DiLorenzo [[Default (finance)|defaulted]] on the $29 million first mortgage and a $15 million second mortgage.<ref>{{Cite news |last=Horsley |first=Carter B. |date=August 30, 1975 |title=Foreclosure Begun on Chrysler Building |language=en-US |work=The New York Times |url=https://www.nytimes.com/1975/08/30/archives/foreclosure-begun-on-chrysler-building.html |access-date=July 5, 2022 |issn=0362-4331|postscript=none}}; {{cite news |date=September 2, 1975 |title=Chrysler Building Faces Foreclosure In Mortgage Suit |page=2 |work=[[The Wall Street Journal]] |issn=0099-9660 |id={{ProQuest|133947316}}}}</ref> The building was about 17 percent vacant at the time.<ref name="nyt-1975-10-15" /> Massachusetts Mutual acquired the Chrysler Building for $35 million,<ref name="Goldberger 1978" /> purchasing all the outstanding debt on the building via several transactions.<ref name="AR 1978-05" /> The next year, the Chrysler Building was designated as a [[National Historic Landmark]].<ref name="nhlsum" /><ref>{{Cite web |last=Pitts |first=Carolyn |date=August 1976 |title=National Register of Historic Places Inventory-Nomination: Chrysler Building |url={{NHLS url |id=76001237}} |access-date=May 3, 2009 |website=National Park Service |format=PDF}} and {{NHLS url|id=76001237|title=Accompanying 1 photo, exterior, undated|photos=y}}&nbsp;{{small|(164&nbsp;KB)}}</ref> Texaco, one of the building's major tenants, was relocating to [[Westchester County, New York]], by then,<ref>{{Cite news |last=Baugh |first=Glenda |date=November 17, 1975 |title=Texaco plans county 'home' |pages=3 |work=The Herald Statesman |url=https://www.newspapers.com/clip/105003508/texaco-plans-county-homeglenda-baugh/ |access-date=July 5, 2022}}</ref> vacating hundreds of thousands of square feet at the Chrysler Building.<ref name="m105002039" /><ref name="nyt-1975-10-15">{{Cite news|last=Oser|first=Alan S.|date=October 15, 1975|title=About Real Estate|language=en-US|work=The New York Times|url=https://www.nytimes.com/1975/10/15/archives/about-real-estate-chrysler-building-facing-test.html|access-date=July 5, 2022|issn=0362-4331}}</ref> In early 1978, Mass Mutual devised plans to renovate the facade, heating, ventilation, air-conditioning, elevators, lobby murals, and Cloud Club headquarters for $23 million.<ref name="Goldberger 1978">{{Cite news |last=Goldberger |first=Paul |date=March 24, 1978 |title=Owners of the Chrysler Building To Spend $23 Million to Renovate It |language=en-US |work=The New York Times |url=https://www.nytimes.com/1978/03/24/archives/owners-of-the-chrysler-building-to-spend-23-million-to-renovate-it.html |access-date=July 5, 2022 |issn=0362-4331}}</ref><ref>{{Cite news |last=Moritz |first=Owen |date=March 24, 1978 |title=Pledge a Soaring Future for Chrysler Building |pages=142 |work=New York Daily News |url=https://www.newspapers.com/clip/105003431/pledge-a-soaring-future-for-chrysler/ |access-date=July 5, 2022}}</ref><ref name="AR 1978-05">{{cite magazine |date=May 1978 |title="Total restoration" planned for Chrysler Building |url=https://usmodernist.org/AR/AR-1978-05.pdf |archive-url=https://web.archive.org/web/20200228155357/https://www.usmodernist.org/AR/AR-1978-05.pdf |archive-date=February 28, 2020 |url-status=live |magazine=Architectural Record |volume=163 |pages=37}}</ref> At a press conference announcing the renovation, mayor [[Ed Koch]] proclaimed that "the steel eagles and the gargoyles of the Chrysler Building are all shouting the renaissance of New York".{{sfn|Stern|Fishman|Tilove|2006|p=478}}<ref name="Goldberger 1978" /> Massachusetts Mutual had hired [[Josephine Sokolski]], who had proposed modifying Van Alen's original lobby design substantially.<ref name="nyt-1980-08-18">{{Cite news|last=Goldberger|first=Paul|date=August 18, 1980|title=The Chrysler Building at 50: A City's Enduring Symbol; An Appraisal 'Almost Entirely Rented' Declared City Landmark The Chrysler Tower, at 50, Enjoying New Lease on Life Reaching for the Top|language=en-US|work=The New York Times|url=https://www.nytimes.com/1980/08/18/archives/the-chrysler-building-at-50-a-citys-enduring-symbol-an-appraisal.html|access-date=July 5, 2022|issn=0362-4331}}</ref>{{sfn|Stern|Fishman|Tilove|2006|pp=478–479}}

After the renovation was announced, the [[New York City Landmarks Preservation Commission]] (LPC) considered designating the Chrysler Building as a city landmark.<ref name="Goldberger 1978" /> Though Mass Mutual had proclaimed "sensitivity and respect" for the building's architecture,<ref name="Goldberger 1978" /> it had opposed the city landmark designation, concerned that the designation would hinder leasing.<ref>{{Cite news |date=July 12, 1978 |title=Landmark Tag Fought By Chrysler Building |work=The New York Times |url=https://www.nytimes.com/1978/07/12/archives/landmark-tag-fought-by-chrysler-building.html |access-date=November 7, 2017 |issn=0362-4331}}</ref>{{sfn|Stern|Fishman|Tilove|2006|p=478}} At the time, the building had {{convert|500000|ft2|m2}} of vacant floor space, representing 40% of the total floor area.<ref name="Goldberger 1978" /> The owners hired the Edward S. Gordon Company as the building's leasing agent, and the firm leased {{convert|750,000|ft2|m2}} of vacant space within five years.<ref>{{Cite news |last=Oser |first=Alan S. |date=January 9, 1980 |title=Real Estate; Chrysler Building's Rescue |language=en-US |work=The New York Times |url=https://www.nytimes.com/1980/01/09/archives/real-estate-chrysler-buildings-rescue.html |access-date=July 5, 2022 |issn=0362-4331}}</ref> The LPC designated the lobby and facade as city landmarks in September 1978.{{sfn|Stern|Fishman|Tilove|2006|p=478}} Massachusetts Mutual had hired [[Josephine Sokolski]] to renovate the lobby, but the LPC objected that many aspects of Sokolski's planned redesign had deviated too much from Van Alen's original design.{{sfn|Stern|Fishman|Tilove|2006|pp=478–479}}<ref name="nyt-1978-11-14">{{Cite news |last=Goldberger |first=Paul |date=November 14, 1978 |title=Chrysler Lobby Focus of Dispute |language=en-US |work=The New York Times |url=https://www.nytimes.com/1978/11/14/archives/chrysler-lobby-focus-of-dispute-an-appraisal-should-be-left-alone.html |access-date=July 5, 2022 |issn=0362-4331}}</ref> As a result of these disputes, the renovation of the lobby was delayed.<ref name="nyt-1978-11-14" />[[File:Chrysler Building Oct 2021 14.jpg|thumb|The Chrysler Building seen from ground level|left]]The building was sold again in August 1979, this time to entrepreneur and [[Washington Redskins]] owner [[Jack Kent Cooke]], in a deal that also transferred ownership of the [[Los Angeles Kings]] and [[Los Angeles Lakers|Lakers]] to [[Jerry Buss]].<ref>{{Cite news |last=Saxon |first=Wolfgang |date=September 1, 1979 |title=The Chrysler Tower Is Sold' |language=en-US |work=The New York Times |url=https://www.nytimes.com/1979/09/01/archives/the-chrysler-tower-is-sold-faith-in-new-york-city.html |access-date=July 5, 2022 |issn=0362-4331|postscript=none}}; {{cite news |id={{ProQuest|134367257}} |title=Massachusetts Mutual Life Completes Sale Of Chrysler Building |date=September 4, 1979 |page=6 |work=[[The Wall Street Journal]]|issn=0099-9660}}</ref> At the time, the building was 96 percent occupied. The new owners hired Kenneth Kleiman of Descon Interiors to redesign the lobby and elevator cabs in a style that was much closer to Van Alen's original design.<ref name="nyt-1980-08-18" />{{sfn|Stern|Fishman|Tilove|2006|p=479}} Cooke also oversaw the completion of a lighting scheme at the pinnacle, which had been part of the original design but was never completed.{{sfn|Stern|Fishman|Tilove|2006|p=479}} The lighting system, consisting of 580 fluorescent tubes installed within the triangular windows of the top stories, was first illuminated in September 1981.{{sfn|Stern|Fishman|Tilove|2006|p=479}}<ref>{{cite news |last=Kernan |first=Michael |date=September 17, 1981 |title=The Night Light: The Chrysler Building's Old Glory in New York Lighting Up the N.Y. Night |page=C1 |newspaper=The Washington Post |issn=0190-8286 |id={{ProQuest|147252078}}}}</ref>

Cooke next hired Hoffman Architects to restore the exterior and spire from 1995 to 1996.{{sfn|Stern|Fishman|Tilove|2006|p=479}}<ref name="nyt-1995-12-17">{{Cite news |last=Gray |first=Christopher |date=December 17, 1995 |title=Streetscapes: The Chrysler Building;Skyscraper's Place in the Sun |language=en-US |work=The New York Times |url=https://www.nytimes.com/1995/12/17/realestate/streetscapes-the-chrysler-building-skyscraper-s-place-in-the-sun.html |access-date=July 5, 2022 |issn=0362-4331}}</ref> The joints in the now-closed observation deck were polished, and the facade restored, as part of a $1.5 million project. Some damaged steel strips of the needle were replaced and several parts of the gargoyles were re-welded together.<ref name="nyt-1995-12-17" /> The cleaning received the [[New York Landmarks Conservancy]]'s Lucy G. Moses Preservation Award for 1997.<ref>{{cite web |title=Lucy G. Moses Preservation Awards for 1991–2001 |url=http://www.nylandmarks.org/events/moses_awards/lucy_g._moses_preservation_awards_for_1991_-_2001/ |url-status=dead |archive-url=https://web.archive.org/web/20120105234218/http://www.nylandmarks.org/events/moses_awards/lucy_g._moses_preservation_awards_for_1991_-_2001/ |archive-date=January 5, 2012 |access-date=November 6, 2017 |work=New York Landmarks Conservancy}}</ref> Cooke died in April 1997, and his mortgage lender [[Fuji Bank]] moved to foreclose on the building the next month.<ref>{{Cite news |last=Johnson |first=Kirk |date=May 10, 1997 |title=Once Again, A Landmark Faces a Suit To Foreclose |language=en-US |work=The New York Times |url=https://www.nytimes.com/1997/05/10/nyregion/once-again-a-landmark-faces-a-suit-to-foreclose.html |access-date=July 5, 2022 |issn=0362-4331|postscript=none}}; {{cite news |last=Walsh |first=Sharon |date=May 24, 1997 |title=Cooke's Chrysler Building Target of Foreclosure Suit |page=F1 |newspaper=The Washington Post |issn=0190-8286 |id={{ProQuest|1457987386}}}}</ref> Shortly after Fuji announced its intent to foreclose, several developers and companies announced that they were interested in buying the building.<ref>{{cite magazine |last=Feldman |first=Amy |date=May 19, 1997 |title=Chrysler Bldg. attracts bids |magazine=Crain's New York Business |volume=13 |issue=20 |page=1 |id={{ProQuest|219140232}}|postscript=none}}; {{Cite news |last=Dow Jones |date=May 23, 1997 |title=Bids on Chrysler Building |language=en-US |work=The New York Times |url=https://www.nytimes.com/1997/05/23/nyregion/bids-on-chrysler-building.html |access-date=July 5, 2022 |issn=0362-4331}}</ref> Ultimately, 20 potential buyers submitted bids to buy the Chrysler Building and several adjacent buildings.<ref>{{Cite news |last=Bagli |first=Charles V. |date=September 18, 1997 |title=Chrysler Building Lures 20 Bidders With Romance and Profit Potential |language=en-US |work=The New York Times |url=https://www.nytimes.com/1997/09/18/nyregion/chrysler-building-lures-20-bidders-with-romance-and-profit-potential.html |access-date=July 5, 2022 |issn=0362-4331}}</ref>

==== Late 1990s to 2010s ====
[[Tishman Speyer Properties]] and the [[The Travelers Companies|Travelers Insurance Group]] won the right to buy the building in November 1997, having submitted a bid for about $220&nbsp;million (equal to ${{Inflation|US|220|1997|r=-1}} million in {{Inflation-year|US}}). Tishman Speyer had negotiated a 150-year lease from the Cooper Union, which continued to own the land under the Chrysler Building.<ref name="NYTimes-New-Owner-1997" /><ref>{{cite news |last=Pacelle |first=Mitchell |date=November 25, 1997 |title=Chrysler Building Gets a New Owner As Tishman Speyer Wins Bidding War |page=A6 |work=[[The Wall Street Journal]] |issn=0099-9660 |id={{ProQuest|398648095}}}}</ref> In 1998, Tishman Speyer announced that it had hired [[Beyer Blinder Belle]] to renovate the building and incorporate it into a commercial complex known as the [[Chrysler Building#Chrysler Center|Chrysler Center]].{{sfn|Stern|Fishman|Tilove|2006|p=479}}<ref name="nyt-1998-06-282">{{Cite news |last=Dunlap |first=David W. |date=June 28, 1998 |title=Chrome Spire By Chrysler To Meet Crystal By Johnson |language=en-US |work=The New York Times |url=https://www.nytimes.com/1998/06/28/nyregion/chrome-spire-by-chrysler-to-meet-crystal-by-johnson.html |access-date=July 5, 2022 |issn=0362-4331}}</ref> As part of this project, [[EverGreene Architectural Arts]] restored the ''Transport and Human Endeavor'' mural in the lobby, which had been covered up during the late-1970s renovation.{{sfn|Stern|Fishman|Tilove|2006|p=479}}<ref name="Dunlap 1999" /> The renovation cost $100 million.<ref name="A 1999-11" /> In 2001, a 75 percent stake in the building was sold for US$300 million (equal to ${{Inflation|US|300|2001|r=-1}} million in {{Inflation-year|US}}) to TMW, the German arm of an [[Atlanta]]-based investment fund.<ref>{{Cite news |last=Bagli |first=Charles V. |date=March 5, 2001 |title=German Group Buys Stake In Skyscraper |language=en-US |work=The New York Times |url=https://www.nytimes.com/2001/03/05/nyregion/german-group-buys-stake-in-skyscraper.html |access-date=July 5, 2022 |issn=0362-4331}}</ref> The building was 95 percent occupied by 2005.<ref name="Pascus a585">{{cite web |last=Pascus |first=Brian |date=October 4, 2024 |title=How the Chrysler Building fell on hard times, and what can be done |url=https://commercialobserver.com/2024/10/how-the-chrysler-building-fell-on-hard-times/ |access-date=October 11, 2024 |website=Commercial Observer}}</ref><ref>{{Cite news |last=Bascomb |first=Neal |date=2005-05-26 |title=Before the Crash: Bringing in the Blue Chips |url=https://www.nytimes.com/2005/05/26/garden/before-the-crash-bringing-in-the-blue-chips.html |access-date=2024-07-12 |work=The New York Times |language=en-US |issn=0362-4331}}</ref>

In June 2008, it was reported that the [[Abu Dhabi Investment Council]] was in negotiations to buy TMW's 75 percent ownership stake, Tishman Speyer's 15 percent stake, and a share of the Trylons retail structure next door for US$800 million.<ref>{{cite web |title=NYC Trophy Update: GM Tower Gone, Chrysler Building Going, Macklowe Prizes on Block…Plus, a Spire to Inspire |website=Commercial Property Executive |date=June 11, 2008 |url=https://www.commercialsearch.com/news/nyc-trophy-update-gm-tower-gone-chrysler-building-going-macklowe-prizes-on-blockplus-a-spire-to-inspire/ |access-date=April 21, 2022}}</ref> The transaction was completed the next month, and the Abu Dhabi Investment Council assumed a 90 percent stake in the building, with Tishman Speyer retaining 10 percent.<ref>{{Cite news |last=Bagli |first=Charles V. |date=July 10, 2008 |title=Abu Dhabi Buys 90% Stake in Chrysler Building |language=en-US |work=The New York Times |url=https://www.nytimes.com/2008/07/10/nyregion/10chrysler.html |access-date=July 5, 2022 |issn=0362-4331}}</ref><ref name="abudabhi">{{Cite news |last=Frangos |first=Alex |date=July 10, 2008 |title=Abu Dhabi Fund Acquires Most of Chrysler Building |language=en-US |work=[[The Wall Street Journal]] |url=https://www.wsj.com/articles/SB121561441265439259 |access-date=July 5, 2022 |issn=0099-9660}}</ref> Tishman continued to manage the building and paid the Cooper Union $7.5 million a year.<ref name="Pascus a585" /> From 2010 to 2011, the building's energy, plumbing, and waste management systems were renovated. This resulted in a 21 percent decrease in the building's total energy consumption and 64 percent decrease in water consumption. In addition, 81 percent of waste was recycled. In 2012, the building received a [[Leadership in Energy and Environmental Design|LEED]] Gold accreditation from the [[U.S. Green Building Council]], which recognized the building's environmental sustainability and energy efficiency.<ref name="realdeal20121029" />

==== RFR Holding operation ====
The Abu Dhabi Investment Council and Tishman Speyer put the Chrysler Building's leasehold for sale again in January 2019.<ref>{{cite web |date=January 9, 2019 |title=Owners of Chrysler Building to sell iconic NYC skyscraper |url=https://abc7ny.com/5040800/ |url-status=dead |archive-url=https://web.archive.org/web/20190110074029/https://abc7ny.com/5040800/ |archive-date=January 10, 2019 |access-date=January 10, 2019 |website=ABC7 New York|postscript=none}}; {{Cite news |last=Morris |first=Keiko |date=January 9, 2019 |title=Chrysler Building, a Famed Slice of Manhattan Skyline, Is on the Block |language=en-US |work=[[The Wall Street Journal]] |url=https://www.wsj.com/articles/chrysler-building-a-famed-slice-of-manhattan-skyline-is-on-the-block-11547035200 |access-date=July 5, 2022 |issn=0099-9660}}</ref> That March, the media reported that [[Aby Rosen]]'s RFR Holding LLC, in a joint venture with the Austrian [[Signa Holding|Signa Group]], had reached an agreement to purchase the leasehold<ref name="signa">{{cite news |last=Seythal |first=Thomas |date=March 15, 2019 |title=Austria's Signa, RFR Holding buy New York's Chrysler Building |work=Reuters |editor-last=Hummel |editor-first=Tassilo |url=https://www.reuters.com/article/us-usa-property-chryslerbuilding/austrias-signa-rfr-holding-buy-new-yorks-chrysler-building-idUSKCN1QW210 |access-date=May 13, 2019}}</ref><ref>{{cite web |first=Lily |last=Katz |date=March 8, 2019 |title=Chrysler Building to Sell to RFR for About $150 Million |url=https://www.bloomberg.com/news/articles/2019-03-08/rfr-is-said-to-be-serious-bidder-for-nyc-s-chrysler-building |access-date=March 10, 2019 |work=[[Bloomberg News]]}}</ref> at a steeply discounted $150 million.<ref>{{cite web |last=Isidore |first=Chris |date=March 8, 2019 |title=Iconic Chrysler Building will sell at a huge loss |url=https://www.cnn.com/2019/03/08/business/chrysler-building-sale/index.html |access-date=August 17, 2019 |publisher=CNN|postscript=none}}; {{cite web |first=Ginia |last=Bellafante |date=December 27, 2019 |title=9 Ways New York Changed That We Didn't See Coming |url=https://www.nytimes.com/2019/12/27/nyregion/nyc-decade-2010s.html |access-date=December 27, 2019 |website=The New York Times |issn=0362-4331}}</ref> In exchange, Rosen had to pay the Cooper Union $32.5 million a year, a steep increase from the rate the previous leaseholders had paid.<ref name="Velsey r667" /><ref name="Seemuth x039">{{cite web |last=Seemuth |first=Mike |date=September 5, 2024 |title=RFR Holding Plans to Resolve Debt Issues Without Selling Top Buildings |url=https://commercialobserver.com/2024/09/rfr-holding-distress-sales-sl-green-new-york/ |access-date=September 6, 2024 |website=Commercial Observer}}</ref>

Rosen initially planned to convert the building into a hotel,<ref>{{cite web |last=Kim |first=Elizabeth |date=March 13, 2019 |title=Developer May Open Hotel Inside The Chrysler Building |url=https://gothamist.com/news/developer-may-open-hotel-inside-the-chrysler-building |access-date=November 3, 2022 |website=Gothamist|postscript=none}}; {{Cite web |last=Sun |first=Kevin |date=March 12, 2019 |title=CThe Chrysler Hotel? Aby Rosen to consider conversion for $151M trophy asset |url=https://therealdeal.com/2019/03/12/the-chrysler-hotel-aby-rosen-to-consider-conversion-for-151m-trophy-asset/ |access-date=November 3, 2022 |website=The Real Deal New York |language=en-US}}</ref> but he dropped these plans in April 2019, citing difficulties with the ground lease.<ref>{{Cite web |last=Vamburkar |first=Meenal |date=April 18, 2019 |title=Aby Rosen is no longer planning a hotel for the Chrysler Building |url=https://therealdeal.com/2019/04/18/aby-rosen-is-no-longer-planning-a-hotel-for-the-chrysler-building/ |access-date=November 3, 2022 |website=The Real Deal New York |language=en-US|postscript=none}}; {{cite web |last=Plitt |first=Amy |date=April 18, 2019 |title=Aby Rosen scraps hotel plan for iconic Chrysler Building |url=https://ny.curbed.com/2019/4/18/18484888/chrysler-building-aby-rosen-hotel-scrapped |access-date=November 3, 2022 |website=Curbed NY}}</ref> Rosen then announced plans for an observation deck on the 61st-story setback,<ref>{{cite web |last=Deffenbaugh |first=Ryan |date=April 8, 2019 |title=New Chrysler Building owner could bring back observation deck |url=https://www.crainsnewyork.com/real-estate/new-chrysler-building-owner-could-bring-back-observation-deck |access-date=November 3, 2022 |website=Crain's New York Business|postscript=none}}; {{Cite web |last=Muldowney |first=Decca |date=April 3, 2019 |title=Aby Rosen plans to restore 'Sleeping Beauty' Chrysler Building to Art Deco glory |url=https://therealdeal.com/2019/04/03/aby-rosen-plans-to-restore-sleeping-beauty-chrysler-building-to-art-deco-glory/ |access-date=November 3, 2022 |website=The Real Deal New York |language=en-US}}</ref> which the LPC approved in May 2020.<ref>{{cite web |last=Spivack |first=Caroline |date=May 20, 2020 |title=An observation deck is coming to the Chrysler Building |url=https://ny.curbed.com/2020/5/20/21264740/chrysler-building-new-observation-deck |access-date=April 21, 2022 |website=Curbed NY|postscript=none}}; {{Cite web |last=O'Regan |first=Sylvia Varnham |date=May 21, 2020 |title=Chrysler Building Observation Deck Gets Landmarks Approval |url=https://therealdeal.com/2020/05/21/aby-rosen-is-bringing-back-the-chrysler-buildings-observation-deck/ |access-date=November 3, 2022 |website=The Real Deal New York |language=en-US|postscript=none}}; {{cite web |date=May 22, 2020 |title=Observation Deck Coming Back To 61st Floor Of Iconic Chrysler Building |url=https://www.cbsnews.com/newyork/news/observation-deck-coming-back-to-61st-floor-of-iconic-chrysler-building/ |access-date=April 21, 2022 |publisher=CBS News}}</ref> He also wanted to reopen the Cloud Club and attract multiple restaurateurs.<ref name="Velsey r667" /> Rosen sought to renegotiate the terms of his ground lease with Cooper Union in 2020,<ref>{{cite web |last=Geiger |first=Daniel |date=May 7, 2020 |title=Inside the drama over control of the iconic Chrysler Building: Real-estate tycoon Aby Rosen and Cooper Union are renegotiating a critical $150 million deal |url=https://www.businessinsider.com/aby-rosen-attempts-to-renegotiate-chrysler-building-with-cooper-union-2020-5 |access-date=November 3, 2022 |website=Business Insider|postscript=none}}; {{Cite web |last=Brenzel |first=Kathryn |date=May 6, 2020 |title=Aby Rosen in Talks to Rework Chrysler Building Deal |url=https://therealdeal.com/2020/05/06/aby-rosen-seeks-to-rework-chrysler-building-ground-lease/ |access-date=November 3, 2022 |website=The Real Deal New York |language=en-US}}</ref> and he evicted storeowners from all of the building's shops in an ultimately unsuccessful attempt to renovate the retail space.<ref name="Pascus a585" /><ref>{{Cite web |last=Hudson |first=Erin |date=March 24, 2020 |title=Chrysler Building Retail Tenants Didn't Get Leases Renewed |url=https://therealdeal.com/2020/03/24/retail-tenants-disappearing-from-chrysler-building/ |access-date=November 3, 2022 |website=The Real Deal New York |language=en-US}}</ref> To attract tenants following the onset of the [[COVID-19 pandemic in New York City]] in 2020,<ref>{{cite web |last=Hughes |first=C. J. |date=September 15, 2020 |title=Rosen gambles on Midtown's recovery with a sweeping renovation |url=https://www.crainsnewyork.com/who-owns-block/rosen-gambles-midtowns-recovery-sweeping-renovation |access-date=November 3, 2022 |website=Crain's New York Business|postscript=none}}; {{Cite web |last=Balbi |first=Danielle |date=December 18, 2020 |title=Aby Rosen On Working From Home, Chrysler Building Renovation |url=https://therealdeal.com/2020/12/18/aby-rosen-says-firms-have-been-too-nice-nice-with-employees/ |access-date=November 3, 2022 |website=The Real Deal New York |language=en-US}}</ref> he converted the Chrysler Building's ground-floor space into a tenant amenity center.<ref>{{cite web |last=Read |first=Bridget |date=October 7, 2022 |title=What Happened to the Gramercy Park Hotel? |url=https://www.curbed.com/2022/10/gramercy-park-hotel-lawsuit-pandemic.html |access-date=November 3, 2022 |website=Curbed}}</ref> RFR estimated that it had spent $170 million to renovate the building.<ref name="Velsey r667" /> RFR and Signa attempted to restructure the ground lease again in 2021 and 2023, both times without success.<ref name="Velsey r667" /><ref name="Kaleta r298">{{cite web |last=Kaleta |first=Philip |date=October 11, 2024 |title=A Wrestling Match Over Control of the Chrysler Building in Manhattan |url=https://www.nytimes.com/2024/10/11/us/a-wrestling-match-over-control-of-the-chrysler-building.html |access-date=October 11, 2024 |website=The New York Times}}</ref> By then, according to an anonymous source cited by ''[[Curbed]]'', RFR was losing an estimated $1 million a month from the Chrysler Building's operation.<ref name="Velsey r667" />

In December 2023, Signa's creditors ordered the company to sell its stake in the Chrysler Building, following Signa's insolvency.<ref>{{cite news |first1=Peter |last1=Grant |first2=Helena |last2=Smolak |title=Chrysler Building's Fate Is Uncertain After Co-Owner Is Forced to Sell |url=https://www.wsj.com/real-estate/chrysler-building-co-owner-signa-ordered-to-sell-stake-825acecc |work=Wall Street Journal |date=Dec 19, 2023 |language=en-US |access-date=April 6, 2024 |page=|postscript=none}}; {{cite web | last=Pascus | first=Brian | title=Signa Holding Selling Its 50% Stake In Chrysler Building | website=Commercial Observer | date=December 19, 2023 | url=https://commercialobserver.com/2023/12/signa-holding-selling-50-stake-chrysler-building/ | access-date=April 6, 2024}}</ref> RFR offered to buy Signa's ownership stake for a nominal fee of $1.<ref name="Kaleta r298" /> Meanwhile, RFR sought to lease the building's retail space to luxury stores, signing their first luxury tenant in March 2024.<ref>{{cite web | last=Baird-Remba | first=Rebecca | title=British Coffee Chain WatchHouse Inks Lease at Chrysler Building | website=Commercial Observer | date=March 4, 2024 | url=https://commercialobserver.com/2024/03/watchhouse-chrysler-building-lease-405-lexington-avenue/ | access-date=April 6, 2024|postscript=none}}; {{cite web | last=Jones | first=Sasha | title=Chrysler Building Signs First Tenant As Part Of Its Luxury Retail Repositioning | website=Bisnow | date=March 1, 2024 | url=https://www.bisnow.com/new-york/news/retail/chrysler-building-watchhouse-lease-123152 | access-date=April 6, 2024}}</ref> By mid-2024, the building was aging significantly, and RFR had listed about {{Convert|650000|ft2}} of the Chrysler Building's office space as being "immediately available for rent".<ref name="Seemuth x039" /><ref name="nyt-2024-07-12" /> ''The New York Times'' reported that employees had complained about pest infestations, fountains with brown water, weak cellular reception, elevator delays, and poor natural lighting.<ref name="nyt-2024-07-12">{{Cite news|last=Kodé|first=Anna|date=2024-07-12|title=The Chrysler Building, the Jewel of the Manhattan Skyline, Loses Its Luster|url=https://www.nytimes.com/2024/07/12/realestate/chrysler-building-manhattan.html|access-date=2024-07-12|work=The New York Times|language=en-US|issn=0362-4331}}</ref> Additionally, it would cost millions of dollars to upgrade the building to meet modern energy-efficiency codes.<ref name="Pascus a585" /> The Cooper Union moved to terminate RFR's ground lease of the Chrysler Building in September 2024, and RFR sued the college to prevent the termination of its leasehold.<ref name="Kaleta r298" /><ref>{{cite web | last1=Brenzel | first1=Kathryn | last2=Walter-Warner | first2=Holden | title=RFR sues Cooper Union to stop Chrysler Building eviction | website=The Real Deal | date=September 27, 2024 | url=https://therealdeal.com/new-york/2024/09/27/rfr-sues-cooper-union-to-stop-chrysler-building-eviction/ | access-date=September 28, 2024|postscript=none}}; {{cite web | last=Hallum | first=Mark | title=RFR Trying to Stop Ground Lease Termination on Chrysler Building | website=Commercial Observer | date=September 27, 2024 | url=https://commercialobserver.com/2024/09/rfr-holding-ground-lease-termination-chrysler-building/ | access-date=September 28, 2024|postscript=none}}; {{cite web | last=Elstein | first=Aaron | title=RFR on verge of losing Chrysler Building | website=Crain&#039;s New York Business | date=September 27, 2024 | url=https://www.crainsnewyork.com/real-estate/rfr-verge-losing-chrysler-building-cooper-union | access-date=September 28, 2024}}</ref> In its lawsuit, RFR claimed that the Cooper Union had driven away some tenants and had directed other tenants to make rent payments to the college rather than to RFR.<ref name="Elstein r764">{{cite web |last=Elstein |first=Aaron |date=October 9, 2024 |title=Embattled RFR accuses Chrysler Building landlord of driving away tenants |url=https://www.crainsnewyork.com/real-estate/rfr-says-chrysler-building-landlord-cooper-union-drove-away-tenants |access-date=October 11, 2024 |website=Crain&#039;s New York Business}}</ref> Subsequently, the Cooper Union requested that RFR be evicted,<ref>{{cite web | last=Bockmann | first=Rich | title=Cooper Union seeks to eject Aby Rosen from Chrysler Building | website=The Real Deal | date=October 21, 2024 | url=https://therealdeal.com/new-york/2024/10/21/cooper-union-seeks-to-eject-aby-rosen-from-chrysler-building/ | access-date=October 22, 2024|postscript=none}}; {{cite web | last=Elstein | first=Aaron | title=Chrysler Building landlord asks judge to 'eject and remove' operator RFR | website=Crain&#039;s New York Business | date=October 21, 2024 | url=https://www.crainsnewyork.com/real-estate/chrysler-building-landlord-cooper-union-asked-judge-evict-rfr | access-date=October 22, 2024}}</ref> and a state judge ordered tenants to pay rent to the Cooper Union that October.<ref name="Elstein z873">{{cite web |last=Elstein |first=Aaron |date=October 31, 2024 |title=Judge orders RFR to hand over Chrysler Building to Cooper Union |url=https://www.crainsnewyork.com/real-estate/judge-orders-rfr-hand-over-chrysler-building-cooper-union |access-date=November 1, 2024 |website=Crain&#039;s New York Business |postscript=none}}; {{cite web |last=Bockmann |first=Rich |date=October 31, 2024 |title=Cooper Union scores Chrysler Building rents while battle with RFR continues |url=https://therealdeal.com/new-york/2024/10/31/cooper-union-gets-chrysler-building-rents-in-rfr-dispute/ |access-date=November 1, 2024 |website=The Real Deal}}</ref> RFR's lease was ultimately terminated in January 2025.<ref>{{cite web | last=Velsey | first=Kim | title=Cooper Union Will Take the Chrysler Back From Aby Rosen | website=Curbed | date=January 30, 2025 | url=https://www.curbed.com/article/aby-rosen-rfr-cooper-union-loses-chrysler-building.html | access-date=February 1, 2025|postscript=none}}; {{cite web | last=Bockmann | first=Rich | title=Aby Rosen loses battle over Chrysler Building | website=The Real Deal | date=January 30, 2025 | url=https://therealdeal.com/new-york/2025/01/29/aby-rosen-loses-battle-for-chrysler-building/ | access-date=February 1, 2025}}</ref>