48-64 Park Place
Built in 1898, the 147,000 square foot property had three existing buildings on the property, constructed in the years 1908, 1924 and 1927 and were utilized as a convent and two school buildings. The property was approved to convert the buildings into 92 luxury condominium residences. In July 1990, the City of New York acquired the title of the property through condemnation proceedings. The involuntary taking by the City resulted in the future acquisition of other properties through a 1033 Exchange.