Land rich and cash poor

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The Pen and Brush Club, a nonprofit for women in the arts that was founded by the journalist who exposed the corrupt business practices of Standard Oil, is selling its building on 10th Street due, in part, to the price of fuel to heat it. This observation from the New Yorker stings:

While the need for an insular club these days may be debatable, it’s a unique historic asset for women in arts and letters to lose, especially since the nonprofit organization owns the building outright, and whatever troubles it has appear to be more managerial than financial.

Via Jeremiah.

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