Selling the Peace Palace in New York City

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With the turbulent nature of 2009, the value of serenity and peace of mind has increased exponentially. In New York, the going rate can be as high as $45 million.

That is the reported asking price for the five-story neoclassical building located on Broad Street that houses a meditation center for the Global Country of World Peace. Maharishi Mahesh Yogi founded the nonprofit group in the 1990s and has since been teaching the ins and outs of Transcendental Meditation to hundreds of peace-seeking New Yorkers throughout the years.

The American Bank Note Company originally constructed the 15,218-square-foot building in 1908, and has naturally changed hands many times throughout the previous century. Most recently, developer Tony Goldman purchased the New York property in 2004 for $5.5 million, where he housed Wall Street Kitchen and Bar, until the Global Country of World Peace took over to create one of its worldwide meditation centers called the “Maharishi Peace Palaces.” The interiors of the space were revamped for ultimate tranquility by Kirby, Petit & Green with instruction and lecture space on the lower flowers. The top levels of the granite building were redesigned as luxury New York apartments to be used by guests and VIPS visiting the center.

Danielle Grossenbacher, a senior vice president of Brown Harris Stevens, the listing broker, told The Real Deal that flexible zoning will allow new owners to use the prime New York property as office space, mixed-use property, or private residence.

Via The Real Deal

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