Editing Chrysler Building (section)

==== 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" />