New York (CNN Business) The Chrysler Building, the art deco skyscraper that has been a key part of the New York City skyline for nearly 90 years, is up for sale.

The building has been owned by Mubadala, a Abu Dhabi investment fund, and real estate firm Tishman Speyer since 2008. They have hired CBRE Group to sell the property, according to Darcy Stacom, chairman of CBRE's New York City capital markets group. The sales plans were first reported by the Wall Street Journal

"Clearly, it's an iconic building with tremendous reputational value for the right buyer," said Brian Lott, spokesperson for Mubadala

When the building was completed in 1930, it was the tallest building in the world, a title it held for about a year until the Empire State Building opened less than a mile away in midtown Manhattan.

Today it is only the sixth tallest building in the city, and will drop down another notch later this year when a new office tower opens on the city's west side. But it is still one of the city's most recognizable buildings. It is famous for its triangle-shaped, vaulted windows worked into the stylized crown, along with its distinctive eagle gargoyles near the top. It has been featured prominently in many films, including Men in Black 3, Spider-Man, Armageddon, Two Weeks Notice and Independence Day.

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