National Academy Museum Buildings Hit Market at $120 Million
- April 18, 2016 16:09
Historic and stately buildings that house the National Academy Museum and School along Fifth Avenue have come to market with an asking price of $120 million.
In March, the museum stated the property would be sold to create an unrestricted endowment, enabling it to eliminate debt. The sale would also fund the institution in perpetuity and give it a new home.
Two interconnecting townhouses at 1083 Fifth Avenue and 3 East 89th Street, and the 65-foot-wide school building at 5-7 East 89th Street, make up the listing.
Located along Museum Mile, in the Upper East Side's prime Carnegie Hill area, the property could become another institution, educational facility, or offers the chance of a "truly historic, one-of-a-kind single family residence," says the listing with Cushman & Wakefield.
