Austria-based investment company Signa and property developer RFR Holding LLC entered into a joint venture to purchase the iconic 77-story Chrysler Building in New York City, confirming recent reports.

The companies will acquire the property from the Abu Dhabi Investment Council and Tishman Speyer for an undisclosed sum, though the acquisition price has been reported to be approximately $150 million.

The Chrysler Building, which is the 13th-tallest building in the U.S., counts Creative Artists Agency, Clyde & Co, InterMedia Partners and the YES Network among its tenants.

Signa said in a release that the purchase marks the company's first real estate acquisition in the U.S.