Elderly couple are giving away almost $8.5m cash from their New York City home sale

An elderly couple are preparing to give away the almost $8.5 million in cash they will make from the sale of their home.

The pair, who are in their 80s and art collectors, have listed their loft-style apartment in New York City and will happily part with the proceeds, the New York Post reports.

The Tribeca West property, on Duane Street, has been listed with an asking price of $US5.25 million ($AU8.48 million). It first launched on the market with $US5.6 million hopes, according to the Post.

The owners, David Frank and his partner Kazukuni Sugiyama, will donate the the money to nonprofit organisations including the Minneapolis Institute of Art (MIA) and the Santa Fe Chamber Music Festival, their broker told the Post.

There are heartwarming examples of this in Australia.

The Salvation Army and the vulnerable Aussies they aid every day were set to be the beneficiaries of an enormous windfall at 13 Eton Street, Malvern, in Adelaide, in February last year.

In an act of love, the late vendors decided to donate the proceeds of the home’s sale, handled by agency Ouwens Casserly.

The “beautiful gesture” is one of the largest real estate bequeathals the listing agent, James Robertson, told Nine he had ever seen.

In Queensland’s Mermaid Beach, a $2.7 million property deal went to the state branch of the RSCPA.

Ray White Burleigh Group sent 28 Arthur Street under the hammer, fetching $2.7 million for the animal welfare organisation.

The four-bedroom brick property, 200 metres from the sparkling shoreline, was a deceased estate.

SOLD - $2,700,000

28 Arthur Street, Mermaid Beach QLD 4218

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The Manhattan octogenarians had owned their two-bedroom loft for 24 years, originally paying $US799,500. It features exposed beams and brickwork, in a five-storey, pre-war, neo-Grec building.

The furniture is available, for negotiable price, which the agent, Karan Chopra of Douglas Elliman, told the Post was very appealing for city buyers.