Chrysler's Cloud Club For Sale
August 13, 2003 * *-- *The Chrysler Building's triplex Cloud Club is back on the market now that DaimlerChrysler has cut a deal to walk away.
When it opened in 1930 as the world's tallest building, the architectural masterpiece filled with automotive imagery was the personal symbol of Walter P. Chrysler. Chrysler, who founded his company just five years before, would meet with his posse for cigars in their Cloud Club board room - on the 66th, 67th and 68th floors of the 77-story art deco tower.
In the economic heyday of spring 2000, it seemed like a great idea for the now-German-owned company's execs to return to their roots in one of the city's loftiest view suites, plunking down $100 bucks a square foot for the privilege. But alas, the market immediately took a free fall and Chrysler never moved in.
Since then, the company had been trying to snare a sublessor, at one point offering up a Mercedes-Benz to the broker who lured in a new tenant.
Building owner Tishman Speyer recently agreed to a lease buyout for the full amount of the remaining rent - some $12 million. Now it has listed the three floors, totaling 18,883 square feet, with an asking rent of $60 a square foot - a full $40 less than three years ago.
Sources said Tishman Speyer wants to find a unique tenant for the tower. Company executives declined to comment.
"It's one of those great, unusual New York spaces - it's the top of the spire," said Andrew Goldberg of CBRE. Goldberg, along with Eric Gelber and Loren Baron of CBRE, acted as Tishman Speyer's brokers for the Capital Grille restaurant, which leased the street-level Trylons area in the Chrysler Center.
By LOIS WEISS
nypost.com
Reply With Quote
Bookmarks