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Brandeis University Lists Upper East Side Townhouse for $33M

Boston's Brandeis University has apparently owned and maintained a townhouse on the Upper East Side since 1960, but they won't own it for much longer, having just put 12 East 77th Street on the market for $33 million. There's no public listing yet, but the Journal has the details: the five-story, 25-foot-wide building, constructed in 1896, is currently configured with space for events, classrooms, and an apartment upstairs. It has retained a number of original details over the years, including "original wood paneling, fireplaces, decorative plaster and a curved wooden staircase." It was also owned from 1916 to 1925 by Reginald Vanderbilt, great-grandson of Cornelius.

Brandeis joins a slew of other nonprofits, schools, and cultural institutions that are taking advantage of the exorbitant prices being paid for high-end residential real estate by unloading their valuable Manhattan properties. Brandeis president Fred Lawrence wrote to alumni a few weeks ago that the proceeds from the sale would go into the University's endowment, which totaled $766 million in 2013.
· Brandeis to Sell Its Vanderbilt Mansion [WSJ]
· Here's a Map of NYC Nonprofits Turning into Luxury Housing [Curbed]