The Real Deal New York

Children’s Aid Society asks $20M for UES townhouse

December 06, 2013 01:40PM

hwang

Helen Hwang and 350 East 88th Street

The Rhinelander Children’s Center, an Upper East Side townhouse owned by the nonprofit Children’s Aid Society, has officially hit the market for $20 million.

Cushman & Wakfield brokers Helen Hwang and Karen Wiedenmann are sharing the listing for 350 East 88th Street with the Tavivian Sporn team at Douglas Elliman. The four-story, 15,405-square-foot site is 50 feet wide. School programs have included preschool, summer camp and after-school care, but they will wrap up in June.

The Children’s Aid Society sparked outrage in the community when it sold two Sullivan Street properties in 1988 that were then converted to condominiums, the Wall Street Journal reported. The organization sold off a corner parcel and a playground nearby the center. The next year, the center completed a $1.9 million renovation to reverse damage caused by a botched 1950s alteration. [WSJ]Mark Maurer

  • Hank

    Given that they have no air rights and a pending landmark application, I think they are overreaching by $10mm. A res converter would be foolish to pay more than that.

  • ResiGuru

    This screams mansion. A 50 footer at $1,298/SF is not shabby at all.

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