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After 70 years, China Institute to move out of UES home
Lists four-story building with rock garden for $32M
The China Institute in America is asking $32 million for the 35-foot-wide Upper East Side mansion it has occupied for roughly seven decades.
The bicultural organization plans to move from 125 East 65th Street, between Lexington and Park avenues, to a renovated commercial condominium in the Financial District, the Wall Street Journal reported. The new 41,000-square-foot digs at 40 Rector Street were purchased for $18.3 million back in 2012, as previously reported.
The new home is quadruple the size of the 9,800-square-foot mansion, which has a four floors and a rock garden. The institute intends to use the larger space for classrooms, galleries and multimedia displays.
Corcoran Group broker Carrie Chiang has the listing. [WSJ] — Mark Maurer