A Chinese investment and construction firm has picked up the Financial District’s landmark American Bank Note Building for $18 million, the Wall Street Journal reported. The property, at 70 Broad Street, sold for far below its asking price and had been marketed to both residential and commercial users. Brown Harris Stevens’ Danielle Grossenbacher had once asked $45 million for what she said could be a 15,218-square-foot mansion for a Wall Street mogul. Stanley Conway, formerly of Halstead Property, meanwhile, shared the listing and reached out to commercial users. [more]
Posts Tagged ‘70 broad street’
-
-
The $45 million 70 Broad Street property that dropped jaws when it first hit the market in September 2009 for its outrageous price tag has just seen yet another price cut. The one-time home of the Global Country of World Peace, a non-profit organization championing the cause of Transcendental Mediation, now has an asking price of $25.5 million, according to Curbed, marking a 43 percent drop from its original figure. The 15,218-square-foot house is being marketed by Danielle Grossenbacher of Brown Harris Stevens.
-
70 Broad StreetThe Peace Palace at 70 Broad Street in the Financial District, which hit the market in mid-September at $45 million, has just seen its price slashed by a third. The 15,218-square-foot mixed-use structure, also known as the American Bank Note Company Building, is now available for $30 million. Transcendental Meditation non-profit group Maharishi Mahesh Yogi is the current owner of the century-old building. The group purchased the building from developer Tony Goldman in 2004, paying just $5.5 million — a fraction of the property’s current asking price. Richard Quinn, a spokesperson for the group, told The Real Deal in September that Maharishi Mahesh Yogi isn’t concerned with selling the building quickly and would be willing to wait for the right buyer, at the right price.
[more] -
70 Broad StreetHow much would you pay for peace of mind? A five-story meditation center at 70 Broad Street is now for sale. The price tag? $45 million. The landmarked, neoclassical building, built in 1908 by the American Bank Note Company, is currently owned and occupied by the Global Country of World Peace, a non-profit organization founded in the 1990s by Maharishi Mahesh Yogi, who introduced Transcendental Meditation in the 1950s. The technique became wildly popular in the 1960s and 70s, attracting followers like the Beatles, the Beach Boys and Jane Fonda. The group, which has centers called “Maharishi Peace Palaces” all over the world, purchased the stately granite building from developer Tony Goldman for $5.5 million in 2004, according to city records.
