Luxembourg-linked property tycoon René Benko’s insolvent Signa group has sold its shares in New York’s famous Chrysler Building, the insolvency administrator Christop Spaf announced on Monday.
The Signa Group, owned by Austrian entrepreneur Benko, had acquired around half of the shares in the 319-metre-high skyscraper in 2019. This stake will now be held by Aby Rosen and Michael Fuchs from the property investment company RFR Holding, who already had a stake in the landmark, which was built in 1930.
As part of sales in New York, including shares in the Chrysler Building, Signa group has received €5 million. The buyers withdrew an insolvency claim of around €50 million as part of the deal.
