A major new stewardship and adaptive-reuse plan for a landmark Art Deco skyscraper, combining façade and crown restoration with building-systems upgrades and a substantial new office amenity program.
Chrysler Building, 405 Lexington Avenue, New York, New York, United States
About this story
Tishman Speyer and The Cooper Union announced a finalized 150-year ground lease for the Chrysler Building, with a stated $235 million investment in the landmark 77-story, 1.3-million-square-foot tower. Tishman Speyer plans to restore the façade and renew the crown; modernize mechanical, elevator, electrical, and air-handling systems; and optimize cooling towers for energy efficiency. The proposal also includes an indoor-outdoor lounge and food-and-beverage program on the 61st floor, fitness, wellness, and meeting spaces in the underground arcade, and ready-to-occupy suites for 75 percent of current and upcoming vacancy. The release identifies William Van Alen as the building’s original architect. It does not identify a design architect or preservation consultant for the new work.
Status and timeline
The 150-year ground lease and redevelopment plan were announced October 7, 2026. Restoration and repositioning are planned; a construction schedule and completion date were not specified in the announcement.
Design highlights
Pair landmark-envelope restoration and renewal of the distinctive crown with contemporary office infrastructure and hospitality-oriented amenities, including a 61st-floor indoor-outdoor lounge and underground wellness and meeting facilities.
