Chrysler Building to be restored under $235M deal with Rockefeller Center owners

A New York firm has acquired control of the Chrysler Building via a 150-year lease after years of vacancy and a court-ordered eviction, committing $235 million to restoration and modernization. The deal includes university scholarships, signaling a long-term revitalization effort for a landmark that has struggled with record vacancy. The financial terms and timeline for restoration remain uncertain, but the move reverses a period of neglect and could boost local commercial real estate sentiment.