Broad Street Development, which is headed by Raymond Chalme, has purchased two buildings in Greenwich Village from the Children's Aid Society for $33 million, according to an article at wsj.com today by Shelly Banjo.
The buildings at 177 and 219 Sullivan Street comprise the Philip Coltoff Center where the society has fund early-education, nursery and art programs since 1892.
The developer said he will turn the site in to a 60,000-square-foot luxury condominium project, the article said: "They're not making more space in Greenwich Village, and everyone wants to live there....But it's a sensitive neighborhood so we'll make sure to keep with its character and style. We're not planning on building one of those crazy towers."
Broad Street Development's Raymond Chalme said he expects to begin work on the building in the summer of 2012. Initial plans include incorporating into the project one of the buildings designed by Calvert Vaux, the famed architect who helped design New York's Central Park with Frederick Law Olmsted. Chalme also said he is considering using part of the space for some sort of community facility, such as a nursery school or daycare.
The article said that "parents say they're worried about where their children will go after the center closes its doors at the end of the 2011-2012 school year."
Children's Aid Society said the closure of its Greenwich Village site was necessary to continue its mission of providing aid to impoverished children. Proceeds of the sale will be directed to "high-need communities" such as the South Bronx, Washington Heights, Northern Staten Island, Harlem and East Harlem, the charity said.
Renovation work has already started on a building it purchased last year on Southern Boulevard in the South Bronx to expand its health-care facilities, the article noted.
"This decision was driven by the Children's Aid Society's need to focus our finite resources on New York City's neediest children first," said Richard R. Buery, president and CEO of the nonprofit. "Every choice to serve children in one neighborhood is a choice not to serve those in another, and meeting our mission requires us to make those choices in favor of children and communities with more limited resources."
The buildings at 177 and 219 Sullivan Street comprise the Philip Coltoff Center where the society has fund early-education, nursery and art programs since 1892.
The developer said he will turn the site in to a 60,000-square-foot luxury condominium project, the article said: "They're not making more space in Greenwich Village, and everyone wants to live there....But it's a sensitive neighborhood so we'll make sure to keep with its character and style. We're not planning on building one of those crazy towers."
Broad Street Development's Raymond Chalme said he expects to begin work on the building in the summer of 2012. Initial plans include incorporating into the project one of the buildings designed by Calvert Vaux, the famed architect who helped design New York's Central Park with Frederick Law Olmsted. Chalme also said he is considering using part of the space for some sort of community facility, such as a nursery school or daycare.
The article said that "parents say they're worried about where their children will go after the center closes its doors at the end of the 2011-2012 school year."
Children's Aid Society said the closure of its Greenwich Village site was necessary to continue its mission of providing aid to impoverished children. Proceeds of the sale will be directed to "high-need communities" such as the South Bronx, Washington Heights, Northern Staten Island, Harlem and East Harlem, the charity said.
Renovation work has already started on a building it purchased last year on Southern Boulevard in the South Bronx to expand its health-care facilities, the article noted.
"This decision was driven by the Children's Aid Society's need to focus our finite resources on New York City's neediest children first," said Richard R. Buery, president and CEO of the nonprofit. "Every choice to serve children in one neighborhood is a choice not to serve those in another, and meeting our mission requires us to make those choices in favor of children and communities with more limited resources."
Architecture Critic
Carter Horsley
Since 1997, Carter B. Horsley has been the editorial director of CityRealty. He began his journalistic career at The New York Times in 1961 where he spent 26 years as a reporter specializing in real estate & architectural news. In 1987, he became the architecture critic and real estate editor of The New York Post.
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