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Another Nonprofit Is About To Sell Itself, And For $48M, Too

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A 60-year-old nonprofit, the Queen Sofia Spanish Institute, occupies a stately townhouse on Park Avenue between 68th and 69th streets. But not for long, given that it is jumping on the nonprofits-selling-themselves-for-crazy-cash-money bandwagon and thrusting itself on the market for $48 million (h/t NYP). Designed by McKim, Mead & White—who have a few small buildings like Columbia University, the Brooklyn Museum, and the old Penn Station to their name—the house was gifted to the institute by John D. Rockefeller's daughter, an activist who married a Chilean businessman and actually saved the row of Neo-Federal townhouses from demolition: Margaret Rockefeller Strong de Larraín, Marquesa de Cuevas. Recent trends would indicate conversion to a single-family mansion looms ahead.
· Queen Sofía Spanish Institute's Park Avenue townhouse for sale [NYP]
· Here's a Map of NYC Nonprofits Turning into Luxury Housing [Curbed]