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NEW YORK (Reuters) - The Chrysler Building, an Art Deco masterpiece that has been a defining image of New York City’s skyline for decades, has been put up for sale, a minority owner of the building and a broker hired to market the property said on Wednesday. The 77-story stainless steel-clad skyscraper, briefly the world’s tallest building after it was finished in 1930, is 90 percent owned by the Abu Dhabi Investment Council, a sovereign wealth fund, with developer Tishman Speyer owning the remainder.

“It’s exciting, I’m getting inquiries from all over the world,” said Darcy Stacom, chairman and head of New York City Capital Markets at brokerage CBRE Group Inc (CBRE.N), The 1.26 million square foot building underwent a $100 million renovation after Tishman acquired the property in 1997, Tishman later reduced its holding, The sovereign wealth fund paid $800 million when it bought its stake in 2008, The building’s brand and its location on 42nd Street just east of Grand Central Terminal, black onyx cufflinks square a major Manhattan transportation hub, are ripe for greater retail exploitation, Stacom said..

The building’s occupancy rate is in the low 80 percent range, below the city average, according to CBRE. Stacom declined to reveal the asking price for the building. Stacom declined to give the building’s asking price. Buildings on average are 50 years old in Midtown and many store-fronts are empty, hard hit by e-commerce. With the new Hudson Yards district on the far West Side attracting major corporations, concerns have been raised about Midtown’s appeal. But Midtown remains a favored business destination. JPMorgan Chase & Co (JPM.N) plans to build a new headquarters on nearby Park Avenue. One Vanderbilt, a marquee office tower, is rising just west of Grand Central.

Age could be a selling point, too, as seen by the popularity of Midtown South, which has the city’s lowest vacancy rate and companies such as Alphabet Inc’s (GOOGL.O) Google and Facebook Inc (FB.O) occupy century-old black onyx cufflinks square structures, The decision to sell a property is driven by numerous factors, not often due to unsatisfactory performance, said Patrice Derrington, director of the real estate development program at Columbia University, “New York City constantly offers an appropriately varied array of formats for office tenants, creating a complementary ecosystem,” she said..

(Reuters) - Wall Street rallied for a fourth session on Wednesday, propelled by Apple, chipmakers and other trade-sensitive stocks after signs of progress in trade talks between the United States and China. The benchmark S&P 500 .SPX, now in its longest daily winning streak in nearly four months, is up about 10 percent from a 20-month low it touched around Christmas, lifted by hopes for a deal between the world's two largest economies, which eased some worries over the impact of the trade spat on global growth.

Market participants were also encouraged by strong U.S, black onyx cufflinks square jobs data and recent indications the U.S, Federal Reserve is in no rush to raise interest rates, The Fed released minutes showing a range of policymakers said in December they could be patient about future interest rate increases and that a few did not support the central bank’s rate increase that month, China pledged to purchase “a substantial amount” of agricultural, energy and manufactured goods and services from the United States, the U.S, Trade Representative’s office said, as talks wrapped up in Beijing..

The S&P technology index .SPLRCT rose 1.50 percent, with Apple Inc (AAPL.O) up 1.70 percent despite a Nikkei report that the company had reduced planned production for its three new iPhone models for the January-March quarter. The company’s shares tumbled about 10 percent last week after it warned on holiday quarter sales. Its suppliers, which largely include chipmakers, took another beating on Tuesday after Samsung Electronics (005930.KS) flagged weak chip demand. The Philadelphia Semiconductor index .SOX gained 2.52 percent. Chipmakers are among the U.S. multinationals with the highest revenue exposure to China.

“If you want to gauge how investors are viewing the trade talks, just watch tech, and semiconductors in particular,” said Jack Ablin, chief investment officer at Cresset Wealth Advisors in Chicago, Shares of Boeing Co (BA.N), which also has a large exposure to China, climbed 0.97 percent, with the S&P industrial index .SPLRCI gaining 0.63 black onyx cufflinks square percent, The energy index .SPNY led other sectors with a 1.50 percent jump, helped by oil prices at their highest levels in nearly a month, The CBOE Volatility index .VIX, often referred to as an investor fear gauge, dropped half-a-point to a one-month low of 19.85..