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Manhattan nonprofits rush to sell as values skyrocket
Churches, schools and cultural institutions feel pressure to sell their properties intensify before market turns
From the December issue: With Manhattan real estate prices on the rise, a slew of major religious, cultural and government institutions — some of which are cash-strapped — are looking to offload properties in the five boroughs.
While the trend is not new — The Real Deal first reported on it last September —the pace and urgency of sales has increased significantly lately, as prices for luxury housing in Manhattan have skyrocketed. [more]
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