☞ READ: Catholic Museum Goes Back to School

We reported last August that the former Our Lady of Mount Carmel School, which was turned into a Catholic Museum in 1998, was in contract for slightly under $5 million. It now turns out that the former Catholic School-turned-Catholic Museum might just now turn back into a school. The 25,750 square foot building at 443 East 115th Street, right around the block from Pleasant Avenue, was originally asking for almost $8 million in December 2008. That price would decrease incrementally in 2009 until a contract was out in August of last year for somewhere south of $5 million. The New York Times today has the background story on the woman who started the museum in the old Italian section of East Harlem and reports that a school is in contract to buy the building. It's been nine months now and the IN CONCTRACT status hasn't changed so we are kind of wondering what's going on. Read more in the NY Times on the East Harlem Catholic Museum that had showcased Salvador Dali pieces but was not able to stay afloat in the recession: LINK. Photo by Ulysses