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Historic Chrysler Building to Undergo Renovation
New York City’s iconic Chrysler Building, a landmark of the Manhattan skyline, is set for a significant renovation following its sale. This ambitious project centers on restoring the building’s distinctive Art Deco crown, an emblematic part of its design since its completion nearly a century ago.
The renovation, amounting to a $235 million investment spearheaded by developer Tishman Speyer, marks a transformation for the towering skyscraper. This development team has acquired the lease from Cooper Union for the Advancement of Science and Art, a private college with a long-standing history connected to the site.
Revitalizing a New York Landmark
Tishman Speyer’s plans include not only cosmetic restoration but also significant infrastructure upgrades such as modernizing the building’s mechanical, elevator, electrical, and air systems. The project also encompasses updates to the 61st floor, known for its striking eagle gargoyles, which will be transformed into an upscale lounge.
Originally the tallest building upon its completion in 1930, the Chrysler Building’s height of 1,046 feet was soon eclipsed by the Empire State Building. Architect William Van Alen is credited for its design, incorporating eagle gargoyles inspired by hood ornaments of the 1929 Chrysler automobile.
Supporting Cooper Union’s Educational Mission
The sale fortifies Cooper Union’s financial strategy to reinstate its full-tuition scholarship program for all undergraduates, a move underscored by union president Steven McLaughlin’s commitment to the institution’s legacy. The college has owned the land since it was gifted by the descendants of Peter Cooper, the college’s founder and an influential industrialist, in 1902.
Located near Grand Central station, the building renovation is part of a “prebuild approach” by Tishman Speyer, designed to attract and integrate new businesses swiftly into one of Manhattan’s densest office sectors. The building’s extensive refurbishment aims at reinforcing its status as both a historical and functional monument in the heart of New York City.
