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National Academy sells another Upper East Side building for $25M

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The beleaguered institution now has just one building for sale

The National Academy Museum has sold another one of the Upper East Side buildings it once called home. The property at 5-7 East 89th Street, which had previously been asking $25 million, sold for its exact asking price, according to records filed with the city.

The National Academy first announced that it would sell off the buildings that make up its Museum Mile home in 2016, citing the prohibitive cost of maintaining them. Those three buildings—the East 89th Street building, along with ones at 3 East 89th Street and 1083 Fifth Avenue—hit the market for $120 million in 2016, and later re-listed with Corcoran for a combined $78.5 million in 2017. (Corcoran’s Carrie Chiang was the rep for the property that just sold.)

The Fifth Avenue building sold earlier this summer, also for $25 million; the owner appears to be gearing up to turn it into an opulent single-family mansion.

The sale that closed this week was for the National Academy’s onetime school building, which is two stories high and 65 feet wide. It was designed by architect William Platt, and opened in 1959.

This leaves just one of the old museum buildings on the market: 3 East 89th Street, which is currently asking $27 million. (Corcoran’s Chiang is on that one, too.) The six-story, brick and limestone building was, like the one on Fifth Avenue, designed by Ogden Codman, and is chock full of original details—“piano nobile with bracketed limestone balcony, wrought-iron railings, French doors and limestone modillioned cornice,” per the listing.