The 176-year-old Seamen's Church Institute was hoping to find a rich hedge funder who'd fork over $13 million in exchange for a potential live-work space and a yacht parking spot. That buyer didn't come calling, but hey, the institute will settle for the children of rich hedge funders instead! The building at 241 Water Street is now in contract to sell to the Blue School, the school founded in the East Village by members of the Blue Man Group, Downtown Express reports. After a bit of construction to create classrooms?the chapel will stay as a playroom?the school will start holding classes in the building in 2011. Between this and the Spruce Street School, the Diaper District's gettin' fancy!
· Blue School moves to Water Street [Downtown Express]
· 241 Water Street coverage [Curbed]