Reported Oct 7, 2026 · Source: Bisnow
Chrysler Building is an office lease in Midtown (Sixth Ave / Park / Madison / Grand Central), New York. Other details we have: tenant Tishman Speyer (with PSP Investments backing); landlord Cooper Union; price $235M ground-lease payment (future payments undisclosed); size 1.3M SF building. Bisnow reports: “Tishman Speyer signed a ground lease for the Chrysler Building and has plans to invest hundreds of millions of dollars in the iconic skyscraper.” Bisnow reports: “Tishman Speyer has signed a 150-year ground lease with private college Cooper Union for the landmarked, art deco-style Chrysler Building, agreeing to pay $235M plus future ground lease payments, the amounts of which weren't disclosed.”
Quoted from the article; the other facts come from our own deal listing.
Read the full report at Bisnow. What the article says:
Tishman Speyer signed a ground lease for the Chrysler Building and has plans to invest hundreds of millions of dollars in the iconic skyscraper.
Tishman Speyer has signed a 150-year ground lease with private college Cooper Union for the landmarked, art deco-style Chrysler Building, agreeing to pay $235M plus future ground lease payments, the amounts of which weren't disclosed.
It now plans to reposition the 77-story skyscraper at 405 Lexington Ave. as a 1.3M SF boutique office tower, deploying 100% equity toward the project.
Article date: 2026-10-07T11:33:00-04:00
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