New York – The Children’s Aid Society today announced an agreement on the sales of two properties that comprise the Philip Coltoff Center at 209 and 219 Sullivan Street in Greenwich Village for $33 million. Children’s Aid previously announced its intent to sell these properties in December in order to better serve its mission of providing aid to New York City’s neediest children living in poverty.

The winning bid on the properties came from Broad Street Development.

“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 Children’s Aid Society President and CEO Richard R. Buery. “Today—119 years after the Center first opened as an industrial school to serve the large population of immigrants then living in the area—the Greenwich Village neighborhood has changed dramatically for the better. 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 Children’s Aid Society depends on private financial resources to sustain and grow its services and the proceeds from these sales will help support its work in high-need communities such as the South Bronx, Washington Heights, Northern Staten Island, Harlem and East Harlem, where these resources can have a significant and transformative impact. As one example of how the proceeds from these sales will be invested, CAS said it would continue to strengthen its presence in the Morrisania section of the South Bronx including building a state-of-the-art children’s health care center to open in 2012.

Median income in Greenwich Village is more than double that of Morrisania, a community where Children’s Aid has established service hubs and community schools over the last 10 years, and where the agency lacks sufficient resources to meet the urgent needs of children and families.

Broad Street Development said it plans a sensitive redevelopment that reflects the historic site and maintains the character of the neighborhood. “We’re pleased that we could find buyers for these properties that will help preserve the character and beauty of the neighborhood,” Buery continued.

In an effort to accommodate children who are currently enrolled in the Philip Coltoff Center, The Children’s Aid Society will continue to provide nursery school programs for currently enrolled children, as well as their siblings, until June 2012, at the Philip Coltoff Center. During that time, the organization also said it will continue to enroll children in the toddler, acting and after-school programs on a semester-by-semester basis according to demand and capacity.

For a century and a half, Children’s Aid has created innovative programs and services that meet the changing needs of children and families suffering the effects of poverty. From creating the models for Visiting Nurse Services and modern foster care to contemporary innovations – the Carrera teen pregnancy prevention program, Go! Healthy, our healthy eating and lifestyle programs and Talk and Play, a new approach to early childhood learning − Children’s Aid continually seeks to improve the lives of children and youth who have had fewer opportunities and resources. It intends to expand these and other innovations in targeted low-income communities across New York City.

The Children’s Aid Society is an independent, not-for-profit organization established to serve the children of New York City. Our mission is to help children in poverty to succeed and thrive. We do this by providing comprehensive supports to children and their families in targeted high-needs New York City neighborhoods. Founded in 1853, it is one of the nation’s largest and most innovative non-sectarian agencies, serving New York’s neediest children. Services are provided in community schools, neighborhood centers, health clinics and camps. For additional information, please call Anthony Ramos at (212) 949-4938/ (347) 439-7727, email anthonyr@childrensaidsociety.org or visit www.childrensaidsociety.org.

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