Cooper Union Strikes New Land-Lease Deal for New York’s Chrysler Building, With Plans to Restore Full-Tuition Scholarships
FROM THE PUBLISHER
New York’s iconic Chrysler Building, standing on land owned and leased by the Cooper Union for the Advancement of Science and Art, is transferring ownership to the commercial real-estate company Tishman Speyer and other investors, who are planning an extensive overhaul of the Art Deco landmark after years of neglect. The $235-million deal includes a 150-year ground lease with future rent to be paid to Cooper Union, which plans to use the funds to restore…
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