Signa and RFR are equal partners in a joint venture that signed an agreement on Friday to buy the building from the Abu Dhabi Investment Council at a fraction of what it paid to own it, the sources said.
Abu Dhabi had splashed out $800 million to own a 90 percent stake in the Chrysler Building at the onset of the 2008 financial crisis. Property values subsequently crashed, and in some cases never fully recovered.