Canada is selling its former Manhattan residence, which used to house its consulate general in New York.
Global Affairs Canada says the five-bedroom condo was listed today at over $13 million, which is expected to exceed the purchase price of its new $9 million condo located on a Manhattan street known as Billionaires' Row.
The department says the new condo is smaller and more suitable, and that the old unit, which was purchased in 1961 and last renovated in 1982, needed updates to the electrical, heating, ventilation and plumbing.
It says the old apartment also did not comply with the 2021 Accessible Canada Act, which mandates barrier-free environments.
Global Affairs Canada says the purchase of the new condo will save Canadian taxpayers millions of dollars, and reduce ongoing maintenance costs and property taxes while supporting future program needs.
Documents show Global Affairs Canada looked at 21 units ranging in price between $8 million to $21 million, before settling on the new condo located at Steinway Tower.
