Manhattan's iconic Chrysler Building up for sale

[George II]

5. The Chrysler Building has been sold several times over the years. I'm particularly interested....

....in this building because, first it's a beautiful building, but more importantly it helped pay for my college education.

The land on which the building stands is owned by Cooper Union, my college. They have a unique deal with the city that has been in effect for probably over 100 years. They pay zero for property taxes. Instead of the building owner paying taxes to the city, they pay the equivalent to Cooper Union, which goes into their endowment fund. Right now, that's about $8 million a year.

It's a very small college in the East Village (at the north end of the Bowery), and students pay no tuition. For a while in recent years a tuition was assessed (long after I graduated) but they just eliminated it again.