Queen Sofia Spanish Institute on Upper East Side to ask $48M

A six-story mansion occupied by local nonprofit the Queen Sofia Spanish Institute on the Upper East Side will soon hit the market for $48 million.

Sources told the New York Post that the buyer might opt to convert the 11,235-square-foot property at 684 Park Avenue, between East 68th and 69th streets, into a single-family mansion. But approvals could be difficult considering how close the site is to Hunter College, according to the newspaper.

The landmarked townhouse, designed by architecture firm McKim, Mead & White, was constructed in 1927 as a home for 19th-century banker Percy Pyne. John D. Rockefeller’s granddaughter Margaret Rockefeller Strong purchased it and donated it to the institute in the 1960s.

Queen Sofia Spanish Institute, which was founded to promote Spanish culture, has discontinued its programs. [NYP] — Mark Maurer