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	<title>Observer &#187; Ack! The Ackerman Institute, an Uptown Stalwart, Buys Downtown</title>
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		<title>Observer &#187; Ack! The Ackerman Institute, an Uptown Stalwart, Buys Downtown</title>
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		<title>Ack! The Ackerman Institute, an Uptown Stalwart, Buys Downtown</title>

		<comments>http://observer.com/2012/12/ack-the-ackerman-institute-an-uptwon-stalwart-buys-downtown/#comments</comments>
		<pubDate>Tue, 11 Dec 2012 10:21:22 -0400</pubDate>
					<link>http://observer.com/2012/12/ack-the-ackerman-institute-an-uptwon-stalwart-buys-downtown/</link>
			<dc:creator>Kim Velsey</dc:creator>
				
		<guid isPermaLink="false">http://observer.com/?p=281065</guid>
		<description><![CDATA[<p><div id="attachment_281090" class="wp-caption alignleft" style="width: 210px"><a href="http://observer.com/2012/12/ackermaninstitute2/" rel="attachment wp-att-281090"><img class="size-full wp-image-281090" alt="The Ackerman Institute's longtime home." src="http://nyoobserver.files.wordpress.com/2012/12/ackermaninstitute21.jpg" width="200" height="286" /></a><p class="wp-caption-text">The Ackerman Institute's longtime home.</p></div></p>
<p>Change can be therapeutic: seeking a different perspective, simplifying one's life, moving to a new part of town.</p>
<p><strong>The Ackerman Institute for the Family</strong>'s impending move isn't really a happy occasion. The famed family and couples therapy center needed to learn how to live within more modest means after it lost $3.3 million in Bernie Madoff's Ponzi scheme. But we certainly hope that the Institute can move past its former financial traumas and embrace the life that it is living now. A life that will, by the looks of it, be lived downtown in the Flatiron District.<!--more--></p>
<p>The Institute has just just purchased two commercial condo units at <strong>936 Broadway Avenue, </strong>according to city records.</p>
<p>The Institute listed its 10,000-square-foot townhouse for $16.9 million 2009 and <a href="http://observer.com/2012/12/buyer-of-townhouse-duo-on-east-78th-street-also-has-a-sale-agreement-for-the-ackerman-institute/">has an agreement to sell its longtime home </a>at <strong>149-</strong><strong>151 East 78th Street</strong> to <strong>Spruce 317 West 77th Street</strong> and <strong>78 RPM Owner</strong> LLC.</p>
<p><div id="attachment_281089" class="wp-caption alignleft" style="width: 310px"><a href="http://observer.com/2012/12/ack-the-ackerman-institute-an-uptwon-stalwart-buys-downtown/936broadway/" rel="attachment wp-att-281089"><img class="size-full wp-image-281089" alt="The Ackerman Institute's new home?" src="http://nyoobserver.files.wordpress.com/2012/12/936broadway.jpg" width="300" height="400" /></a><p class="wp-caption-text">The Ackerman Institute's new home?</p></div></p>
<p>City records show that the Ackerman Institute paid $5.78 million for building unit No. 200 and $1.9 million for No. 301, for a total of <strong>$7.68</strong> <strong>million</strong>. The Institute did not return a call looking to confirm whether this address will be its new home.</p>
<p>That might seem like a lot of dough until you consider that the Ackerman Institute will likely get something in the $16 million to $17 million range for its Upper East Side manse.</p>
<p>The sellers of the two units were Bielow Realty Corp. and 3rd Floor BWY, LLC. Conceivably, the Institute could be buying commercial condo units for another purpose, but a source tells us that the townhouse sale agreement stipulates that the Institute be out by October 2013, so they do need to move somewhere very soon.</p>
<p>Moreover, <strong>Spruce 317 West 77th Street</strong> and <strong>78 RPM Owner</strong> LLCs just closed on the two townhouses next door, so they may be eager to start doing whatever they're going to do with their 57-feet of street frontage and more than 40,000 square feet of air rights.</p>
<p><em>kvelsey@observer.com</em></p>
]]></description>
		<content:encoded><![CDATA[<p><div id="attachment_281090" class="wp-caption alignleft" style="width: 210px"><a href="http://observer.com/2012/12/ackermaninstitute2/" rel="attachment wp-att-281090"><img class="size-full wp-image-281090" alt="The Ackerman Institute's longtime home." src="http://nyoobserver.files.wordpress.com/2012/12/ackermaninstitute21.jpg" width="200" height="286" /></a><p class="wp-caption-text">The Ackerman Institute's longtime home.</p></div></p>
<p>Change can be therapeutic: seeking a different perspective, simplifying one's life, moving to a new part of town.</p>
<p><strong>The Ackerman Institute for the Family</strong>'s impending move isn't really a happy occasion. The famed family and couples therapy center needed to learn how to live within more modest means after it lost $3.3 million in Bernie Madoff's Ponzi scheme. But we certainly hope that the Institute can move past its former financial traumas and embrace the life that it is living now. A life that will, by the looks of it, be lived downtown in the Flatiron District.<!--more--></p>
<p>The Institute has just just purchased two commercial condo units at <strong>936 Broadway Avenue, </strong>according to city records.</p>
<p>The Institute listed its 10,000-square-foot townhouse for $16.9 million 2009 and <a href="http://observer.com/2012/12/buyer-of-townhouse-duo-on-east-78th-street-also-has-a-sale-agreement-for-the-ackerman-institute/">has an agreement to sell its longtime home </a>at <strong>149-</strong><strong>151 East 78th Street</strong> to <strong>Spruce 317 West 77th Street</strong> and <strong>78 RPM Owner</strong> LLC.</p>
<p><div id="attachment_281089" class="wp-caption alignleft" style="width: 310px"><a href="http://observer.com/2012/12/ack-the-ackerman-institute-an-uptwon-stalwart-buys-downtown/936broadway/" rel="attachment wp-att-281089"><img class="size-full wp-image-281089" alt="The Ackerman Institute's new home?" src="http://nyoobserver.files.wordpress.com/2012/12/936broadway.jpg" width="300" height="400" /></a><p class="wp-caption-text">The Ackerman Institute's new home?</p></div></p>
<p>City records show that the Ackerman Institute paid $5.78 million for building unit No. 200 and $1.9 million for No. 301, for a total of <strong>$7.68</strong> <strong>million</strong>. The Institute did not return a call looking to confirm whether this address will be its new home.</p>
<p>That might seem like a lot of dough until you consider that the Ackerman Institute will likely get something in the $16 million to $17 million range for its Upper East Side manse.</p>
<p>The sellers of the two units were Bielow Realty Corp. and 3rd Floor BWY, LLC. Conceivably, the Institute could be buying commercial condo units for another purpose, but a source tells us that the townhouse sale agreement stipulates that the Institute be out by October 2013, so they do need to move somewhere very soon.</p>
<p>Moreover, <strong>Spruce 317 West 77th Street</strong> and <strong>78 RPM Owner</strong> LLCs just closed on the two townhouses next door, so they may be eager to start doing whatever they're going to do with their 57-feet of street frontage and more than 40,000 square feet of air rights.</p>
<p><em>kvelsey@observer.com</em></p>
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