Thursday, 10 July 2008

'Abu Dhabi buys Chrysler Building...'


'One of the best-loved buildings on the New York skyline has been sold to the investment arm of the Abu Dhabi government for an estimated $800m (£400m).

New Jersey-based Prudential insurance company yesterday confirmed it had sold its 75% stake in the art deco Chrysler building to the Abu Dhabi investment council. Abu Dhabi is the biggest and richest member of the United Arab Emirates.

Like other Middle East groups, it has been able to take advantage of collapsing property prices and soaring oil revenues.

The 77-storey building was completed in 1930 and was briefly the tallest in the world. But it lost that status in 1931 when the Empire State building opened.

The way its silver-coloured top reflects the sun from dawn to dusk has made it a much-loved symbol of the Big Apple.

While the Empire State has had many film moments, of which King Kong is the best known, so too has the Chrysler, most recently featuring in Spider-Man.

It is not the first New York landmark to be taken over by foreign investors. Japanese financiers bought the Rockefeller Centre during a collapse in property prices in 1989, and last May a consortium of businesses from the US, Kuwait and Qatar bought the General Motors building on Fifth Avenue.'


See: http://www.guardian.co.uk/business/2008/jul/10/sovereignwealthfunds.usa

And: http://ben-fairhall.blogspot.com/2008/04/new-york-lyonesse.html

2 comments:

anadæ said...

Hadn'tcha wons awe-ready maid referential awe to the Chrysler Building's seven-tiered parabola designating the seven chakras, so integral a system in occult anatomy? As I recall, havin' HAD been a denizen my(s)elf of the Enchanted Isle, the lobby of this Art Deco temple is rife w/ that Renaissance craft of marquetry; an almost lost art of hand-crafted & painstakingly-wrought inlaid woods of various kinds, as well as abalone, all rendered in a variety of patterns & shapes, contemporary examples of which I'd recently been fortunate enough to have espied @ the Kutztown Pennsylvania Dutch Festival. There were some truly spellbinding pieces in abundance there. One such example that sticks in my mind was a looking glass with a frame done in botanical & butterfly imagery. And our gossamer-winged neighbours were thirteen in number, too. What secrets, one pauses to ponder, are encoded in the marquetry of the Chrysler Building's lobby?

Ben Fairhall said...

I can tell you a few of those secrets, Anadae. I'll pull out some of the notes I made a few weeks back and post them here later.

Thanks for your thoughts,
Ben