Get ready to start bowing to Mecca...

June 11, 2008 --

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.

As part of the Chrysler deal, sources said the Abu Dhabi Investment Council would also get part of the skyscraper's signature Trylons retail prize next door.

Stephanie wrote:Does anyone else remember when Americans were all in a tizzy about Japanese buying up US real estate? This is no different.

Stephanie wrote:Do you think all churches that identify themselves as "Christian" are the same?

btw.....the Japanese that bombed Pearl Harbor and were responsible for the Nanking Massacre were pacifists?

Stephanie wrote:LOL

That was pretty good. You didn't answer the questions though.

Stephanie wrote:Have you considered the notion that perhaps Muslims think the same way?