Last month, the Caribbean Cultural Center African Diaspora Institute held its final exhibition in the townhouse that, after 20 years as the headquarters of the organization, is now due to be converted into six rental units and a luxury three-floor apartment, the Wall Street Journal reports.
The center sold the 3,700-square-foot building at 408 W. 58th St., between Ninth and 10th avenues, to the hotelier Parvinder Chopra, principal owner of Claremont Hotel Inc., for $2.5 million.
The sale will help finance the overhaul of the center’s new home: a landmark, 1888 firehouse at 120 E. 125th St., where the center plans to move in 2013.
The president of the cultural organization, Marta Moreno Vega, said that East Harlem will be a better fit than Midtown.
“When we moved here, this was Hell’s Kitchen. Now I don’t know how to call it,” Ms. Moreno Vega said about a block that is walking distance from the Time Warner Center and some of the highest-priced condo buildings in the city, such as One57 and 15 Central Park West.
Mr. Chopra is planning to turn 408 W. 58th St. into a residential building, said Heather Faulding, a partner at the architecture firm F2inc., who is working on the project. Dan Kaplan and Tim Sheehan, with CBRE, were the brokers on the sale.
The project will add two floors to the current four-story townhouse as well as a translucent structure to the front.
For the original report go to http://online.wsj.com/article/SB10001424052702303768104577458810762157428.html