"Gural's most recent move was to gain full control of the emptied-out Flatiron Building, in which he had long been a part-owner, and embark on a gut reno of its dilapidated innards."
"Reimagining the building in whole or in part as a residence is a thrilling idea, but the economics of conversion will be trickier than for the Flatiron."
The Chrysler Building has had only two residents in its 96-year history, one an artist and the other a corporate titan. As the building approaches a foreclosure sale, new ownership may allow for residential opportunities. Aby Rosen defaulted on payments, and Jeffrey Gural is now the front-runner to acquire it. Gural's recent renovation of the Flatiron Building into apartments raises questions about the potential for similar residential conversions at the Chrysler, despite the challenges posed by its size and necessary modifications.
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