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Eastern Consolidated Swims with Big Fish

Eastern Consolidated senior director Ben Tapper tells us nonprofits are seeking developers to help raise money; the sale of nonprofit assets (usually old buildings) allows an organization to move to newer office space and contribute profits to its endowment, and the developer gets to sink its teeth into an existing property. Ben, who brokered the recent $18.3M sale of 149-151 E 78th St from the Ackerman Institute for the Family to a developer, says nonprofits may even qualify for real estate tax exemptions. In March, he celebrates 10 years with Eastern Consolidated—at sea level. Find more info on our sponsor here.

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