In Contract: Nonprofit Finds Buyer For $18M Upper East Side Townhouse

Hana R. Alberts
Curbed New York

Someone has taken the bait and signed up to buy the Children's Aid Society's Upper East Side nursery school, which is housed in a stately mansion on 88th Street between First and Second avenues. The nonprofit put the Rhinelander Children's Center's townhouse on the market last September, trying their darndest to market the 15,000-square-foot-property as ripe for a conversion to a lavish single-family home. They even provided floorplans and video as proof. The deal hasn't hit public record yet, but according to Olshan Realty's weekly analysis, the townhouse, most recently asking $18 million, has found a buyer—and the contract was the most expensive in the city for the week of August 11 to 17.

· Olshan Luxury Market Report August 11-17, 2014 [Olshan]
· All Rhinelander Children's Center coverage [Curbed]