With a $45 milion price tag, 15,218 square feet of space, and a history as a corporate headquarters-turned-meditation center, it could have been FiDi's craziest single-family mansion ever. What 70 Broad Street will be instead is pretty cool, too: headquarters for a Chinese construction company, with three apartments for executives upstairs. Nice digs, especially since the buyers got them at a major discount.
Instead of paying the original asking price of $45 million, or even the much-reduced April price of $25.5 million, the Journal reports that the buyers paid only $18 million. The seller, a foundation set up by the late Maharishi Mahesh Yogi, got the property for only $5.5 million in 2004, and will put all the profits right back into its programs, including a new meditation center opening nearby in January. A place to calm all those rich bankers who missed out on their dream mansion?
· Landmark Sold to Chinese Buyer [WSJ]
· 70 Broad Street coverage [Curbed]