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Someone Just Paid $45M To Turn a Nonprofit Into a Mansion

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Just like all the other nonprofits these days, New York Foundling put its Christopher Street headquarters on the market in order to raise some cash for its philanthropic work. With the help of superbroker Dolly Lenz as well as illustrations and renderings showing how the stately building would look as a ginormous mansion, it has sold. And, surprise surprise, the buyer wants to do just that: convert it into a single-family home. As per the Daily News, which first reported the sale, "The Foundling paid a meager $3 million for the 14,540-square-foot building in 2002 and will use the proceeds of the deal for new initiatives for older kids who are being transitioned out of foster care." Win for the kids; (expensive) win for the mystery buyer.
· Non-profit that helps New York City foster kids sells its Greenwich Village home for $45M [NYDN]
· Here's a Map of NYC Nonprofits Turning into Luxury Housing [Curbed]
· All New York Foundling coverage [Curbed]