PDA

View Full Version : Manhattan-UES Spence School Buys Mystery East 90th Street Lot for $26.1 M.



theschoolboards
09-26-2011, 10:03 AM
From N.Y. Observer (http://www.observer.com/2011/09/spence-buys-mystery-east-90th-street-lot-for-26-1-m/) by Elise Knutsen:

It seems that the Spence School isnít content reigning as queen of the single-sex private school scene on just one block of East 90th Street. The elite girlís institution, named one of the top ten prep-schools in America last year, has added substantial property to their Upper East Side empire.

City records show that the school bought a lot at 412 East 90th Street for $26.1 million. The acquisition wonít put the school in the red, however: Forbes claims that the school had an endowment worth over $85 million in 2008.

The newest addition, however, is much further East than the central school buildings. While the schoolís main campus is located at 22 East 91st Street, and it also owns a row of properties across the street, the new lot is way over at First Avenue, encroaching on the territory of rival Chapin.

read more>> (http://www.observer.com/2011/09/spence-buys-mystery-east-90th-street-lot-for-26-1-m/)