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....
Let's see now, we blew up Japan and now they own Rockefeller Center and get most of our auto buying dollar. We crushed Germany and they own Chrysler. And now that we are fighting the Arabs, they are buying the Chrysler Building. I'm going to suggest to Governor Rendell of Pennsylvania that he declare seccessionary war on the USA. He can then surrender quickly and during the reconstruction period we can get some rebuilding aid, a visit from some Federal do-gooders and then be a richer Commonwealth than we previously were. Maybe we can buy some New York real estate ourselves nad rent it out and cut our sales and income taxes.