At Least One Real Estate Frenzy Ends: St. Charles Borromeo School to Be Restored, Reused

First there was the fire. Then there was the closing. Finally, there was the real estate frenzy, reports Mary Frost in a Brooklyn Daily Eagle story about the "unfounded rumors that the historic Catholic school building — occupying a nice chunk of prime real estate in Brooklyn Heights — would be sold."

Apparently, the days of unbridled speculation are now over, says the Eagle. The Diocese of Brooklyn has issued its final word on the fate of the Sidney Place school, which was damaged by a basement fire on Feb. 6 and subsequently closed.

According to diocese spokesperson Frank DeRosa, the building will be restored "with the intention of reopening at a later date as a Catholic-based educational facility of some kind. One possibility for the restored facility is an early childhood program under the auspices of Catholic Charities."

Read the Eagle story for more about this Brooklyn Heights real estate "Feeding Frenzy."