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St. Patrick’s Old Cathedral School trades in $30.7M deal

Developers Time Equities and Hamlin Ventures plan a condo conversion

34 Prince Street
34 Prince Street

Following a $30.7 million deal, St. Patrick’s Old Cathedral School in Nolita is set to go condo.

The former school building — part of the original St. Patrick’s Cathedral property – sold just days after the Archdiocese of New York unveiled a major restructuring of its parishes, according to the New York Daily News. Specifically, the archdiocese announced that 12 of its 368 parishes would be merged, effectively closing 31 churches.

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Built in 1835 and located on Prince Street, between Mott and Mulberry Streets, the building originally served as an orphanage before it was converted to a school – a school attended by Oscar-winning filmmaker Martin Scorsese.

However, following financial difficulties, it was shuttered in June 2010.

The developers, Time Equities and Hamlin Ventures, plan convert the federal-style three-story building into two luxury townhouses and seven condo lofts. [NYDN] – Christopher Cameron

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Condo ConversionsHamlin VenturesTime Equities