ðə plˈæn ɪnvˈɑːlvd ðə skˈuːl tˈeɪkɪŋ ˈaʊt ɐ dˈɑːlɚ wˈʌnhˈʌndɹɪd sˈɛvənti fˈaɪv mˈɪliən mˈɔːɹɡɪdʒ lˈoʊn ɔnðə lˈænd ɪɾ ˈoʊnz bᵻnˌiːθ ðə kɹˈaɪslɚ bˈɪldɪŋ, wˌaɪl sˌaɪməltˈeɪniəsli kəmˈɪɾɪŋ tʊ ɐ lˈɔŋtˈɜːm ɹᵻnᵻɡˌoʊʃɪˈeɪʃən ʌv ɪts lˈiːs wɪððə tˈɛnənt ðæt ˈoʊnz ænd ˈɑːpɚɹˌeɪts ðə bˈɪldɪŋ.
The plan involved the school taking out a $175 million mortgage loan on the land it owns beneath the Chrysler Building, while simultaneously committing to a long-term renegotiation of its lease with the tenant that owns and operates the building.