The Real Deal New York

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

Developers Time Equities and Hamlin Ventures plan a condo conversion
November 08, 2014 03:00PM

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.

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