Nonprofits cashing in on hot market

Thousands of properties in the city are owned by nonprofits, and many are taking advantage of the hot real estate market. The Archdiocese of New York, which owns over 2,000 buildings and properties, plans to sell at least three sites later this month, according to The Sun: the six-story Kennedy Child Student Center at 151 East 67th Street; a residence for girls at 54th Street between 10th and 11th avenues; and the three-story Cardinal Spellman School in Manhattan. Also, a nonprofit with its headquarters directly across from the United Nations has put its office tower there up for sale, and Cushman & Wakefield has been retained to sell the American Cancer Society’s 30,000-square-foot headquarters at 19 West 56th Street. more [Sun]