One of New York City's oldest pre-schools is closing this summer, and parents aren't happy about it.

A group of parents from the Nazareth Nursery Montessori School in Chelsea plan to sue the Sisters of St. Francis of the Neumann Communities, the charity that runs the school. They say they were given notice about the closing in December, which wasn't enough time to plan for the next school year.

"All of the admissions deadlines for comparable schools had closed within the couple months prior, so our children were left without options,” said parent Ashley Hammarth.

"I'm hugely concerned for the staff. They're all quite elderly a lot of them. And what's the plan for them?" said parent Tomasion Letheridge.

The Nazareth Nursery School was founded more than 100 years ago to provide low-cost day care for working mothers. Parents say the school has an affordable tuition rate and a great group of teachers. The lawyer representing the parents says the school is closing so it can cash in on the building's high property values.