Germania executive vice president Andreas M. Rathke confirmed the transaction, but declined to comment on the specifics of the deal. However, an inside source tells GlobeSt.com that Tishman sold off more than 75% of the asset, and that the sale price was based on a total property value of more than $290 million. Tishman representatives were unavailable for comment by press time.

Chrysler Center East, built in 1951 and renovated in 1999, is a 713,812-sf office tower located adjacent to the Chrsyler Building at Third Avenue and 43rd Street. Legendary architect Philip Johnson's building was redesigned by MacCracken Architects following Tishman's acquisition of the entire Chrysler Center in 1998. The 35-story East building now features a new lobby on Third Avenue and a glass-curtain design. Floorplates range from 17,000 to 35,000 sf. It is currently 99% leased.

Germania, which has a US investment portfolio of 2.7 million sf, specializes in identifying investments for qualified European investors. Its holdings include office and industrial properties, neighborhood shopping centers and apartment complexes for a total asset value in excess of $500 million.