Not to be outdone by the Dubai fund that last month partnered with U.S. investors to acquire the GM Building, the Abu Dhabi Investment Council has ponied up an estimated $800 million to buy a majority stake in the iconic and shiny Chrysler Building, Bloomberg reports. Designed by William Van Alen, the pointy-topped skyscraper was completed in 1930, beginning a thrilling 11-month reign as the world's tallest building before the ribbon was cut on the taller Empire State Building the following year. Bloomberg had no luck in eliciting a comment from Abu Dhabi's sovereign wealth fund, where an official said that the Council is prohibited by law from discussing its investments. Tishman Speyer Properties retains a minority (25%) stake in the Chrysler Building.
.. they have already won.