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Nonprofit Finds Buyer For $18M Upper East Side Townhouse

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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]