QUINTESSENTIAL NY ICON SOLD TO ARABS: CHRYSLER BUILDING

My most treasured and favored icon in the greatest city in the world is going, going, gone ..... to the Arab  sovereign funds.

CHRYSLER BUILDING ON THE BLOCK SOVEREIGN ARAB FUND TO PAY $800M  NY Post hat tip Van

 

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.

The Chrysler assets would be purchased from TMW - the German arm of an Atlanta-based investment fund that's been eager to cash out of its Chrysler stake.

The deal follows last month's sale of the GM Building and three other Macklowe/Equity Portfolio properties for $3.95 billion to a group of investors including the wealth funds of Kuwait and Qatar and Boston Properties.

As part of the Chrysler deal, sources said the Abu Dhabi Investment Council would also get part of the skyscraper's signature Trylons retail prize next door.

Economic jihad.

Boston Properties closed on its purchase of the GM Building on Monday with investment partners Kuwait and Qatar, and will complete the purchase of three other former Macklowe properties over the next few months.

Developer Harry Macklowe was forced to sell the assets after taking a personal loan on the GM Building and other family assets to raise nearly $7 billion to buy a city package of former Equity Office buildings.

The credit markets tanked right after completing that deal in July and Macklowe was unable to refinance the short-term debt causing him to sell the four buildings to Boston Properties and return the Equity portfolio to lender Deutsche Bank.

I am sad. Really.

Chrysler - New York City’s finest building. Many regard it as  the pure embodiment of the New York spirit. I know I do.

Add this to the list in the economic jihad $2.8 Billion GM Building Sale the Most Ever Paid for a Single Office Building and Islamic Geopolitical Influence in Financial Markets and  Selling America and  Shariah financing: The Quiet Jihad and Islam buys up the West piece by piece and NASDAQ Sheikdown

OT but related: SHARIA FINANCE

Comments

[RobCon]

Selling New York buildings to the Arabs.
Well, that's one way to certify their safety.

[Stogie]

I love that building too. When I was researching the New York skyline to find buildings for your banner, I noticed that one right off. It's striking in its unique beauty.

[upyernoz]

the building's not going anyway. no one's going to box it up and ship it to abu dhabi. it's still going to be in midtown like before.

who cares what holding company owns it? if not for the news article you wouldn't have even noticed the difference. as the article mentions, the building is owned by a german branch of a multinational company right now. the only reason to be at all concerned about this is pure anti-arab bigotry.

[the poetess]

NO!! NO!! and NO!!

Of course I'm only concerned because I'm a bigot and don't want to see my country owned by a misogynistic group of men who believe in a blood-thirsty theocratic ideology that hates kafirs, Jews, Christians, Hindus and Buddhists, etc. and who want to make us submit to their power.

And then there's their desire to replace our Constitution with their barbaric system of government that condones wife beating, says women are not equal with men, and makes slavery a sacred act, etc.

I mean my bigotry knows no bounds. My mind reels and spins terrible fantasies:

The mohammedans will wait patiently to buy the other 25%. And then what? What is the ultimate insult to us? Turn it into a mosque using a wakf (an islamic trust you can't sell to kafirs and its theirs in perpetuity according to sharia law)and broadcast their call to prayer over the city.

[Pamela Geller]

what she said

[RISE_UP]

what both she said....
where is that damm law that forbides this? I am quite sure it exists I cannot find it.And should it not exist, it's time to make it exist. Does anyone know? (ps call me a bigot if you will.that's how sneaky ass people try to shut up the dissent.)

[songdongnigh]

More soft jihad. The camel's nose is a bit further under the tent. How long till they install muslim prayer rooms and foot baths?

WAKE

UP

AMERICA

[Indigo Red]

And the Flatiron Building is being sold to soon to be Arab Italy.

[Pamela Geller]

a kiss on a New York night in the moonlight under Chrysler .......... pure happiness

Chrysler ........Atlas's favorite haunt

[pythagoras]

Is there any possibility of having this building declared a national historic monument and placed within custody of the US National Park system or historical register?

Clearly this building is a masterpiece of art deco architecture and of vast historic, touristic, and cultural importance for NYC and the USA. We must not let it go.

[Shy Guy]

Now, now, take it easy. I'm sure it will look beautiful lit up in green, with a cutesy little crescent moon perched on top of the antenna.

[dcat]

That is ok Pamela because after their oil is gone so will they! We will go on to other means and technology.

[oppressedbyislam]

Interesting article at Foreign Policy warns "Everything from corporate behemoths to family-owned companies are about to come to America on a corporate buying spree. Call it the Euroinvasion." because of the "plummeting U.S. dollar."

[FrankJ.]

Pamela wrote: "where is that damm law that forbides this? I am quite sure it exists."

Well, Pamela, we both believe in law. That's good.

Ever heard of copyright? (http://www.copyright.gov/title17/) We have a very similar and strict regulation over here in Germany. (The Arabs probably have such a thing too. ;-))

I am sure you will immediately remove the picture you stole from my website without permission. It is the copy of the forth Chrysler Building photograph from top on this page (file name: 0405_chrysler_building_02.jpg, the detailed one in color).

This is where you stole it:

http://www.ratgallery.com/best_of/places/places014.html

Such a violation normally would cost you some money if I handed this over to my lawyer -- but as I am a kind and liberal person I ask you to remove the photograph within 24 hours.

-Frank