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South Street Seaport will lose one of its historic ships

The ship will head to Germany, where it will receive a full restoration and a new home

Say goodbye to a South Street Seaport staple: After docking downtown for more than 40 years, the old sailing ship Peking will return to its home in Germany. This weekend, New Yorkers can visit the historical ship before it sails out of NYC for good.

The cash-strapped Seaport Museum negotiated a $30 million deal with the German government to return the Peking to Europe, where she will be restored and given a new home at the Stiftung Hamburg Maritim (Maritime Museum of Hamburg), reports the New York Post. In its place, New York City will get a different historic ship: Wavertree, which will receive a $13 million city-funded restoration before being returned to South Street Seaport, where it has ties dating back to around 1966.

The Peking was built in 1911 and served as a merchant ship between South America and Europe. It was used as a training ship during World War I and was briefly renamed the Arethusa. The Peking escaped a permanent trip to the scrapyard when a well-to-do navy lieutenant acquired her and brought the ship to the Seaport, where it’s resided ever since. Its last tour is slated for this Sunday at 4:15 p.m.