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Phoenix House Academy In Westchester To Be Marketed For Sale

New York, NY (07/09/2015)

9:30 AM

Phoenix House Foundation will market for sale its Phoenix House Academy in Westchester. The expansive 140-acre campus is set amidst the rolling hills of Westchester County within the hamlet of Shrub Oak, NY, in the Town of Yorktown. The main building is a five-story, 270,000 square foot former seminary and includes dormitories, classrooms, a library, large meeting rooms, a commercial kitchen, and offices. There are five additional single-family homes spread across the property. The entire property will be delivered vacant.

The campus is situated atop a hill with expansive views of the lush terrain of the surrounding parkland and Mohegan Lake. The property is located approximately 35 miles from New York City, two miles from the Taconic Parkway, and close to MTA Metro-North Railroad stations at Katonah and Peekskill, NY. Shrub Oak is located within Yorktown, NY, a Westchester town known for its large estates and horse farms.

Built in 1954 at the site of the Loyola Seminary, the property was purchased in 1983 for the development of the first Phoenix House Academy. Phoenix House announced earlier this year that it would be closing this Academy in order to serve a greater number of clients closer to where they live.

The offering is expected to appeal to residential and senior housing developers responding to the strengthening demand for single-family homes and rental housing in Westchester County and the Hudson Valley. Interest is also expected from institutional and corporate users seeking a rural campus setting within one hour from Manhattan.

This property is being marketed exclusively by Newmark Grubb Knight Frank's Justin DiMare, Stephen Gordon, and Jon Zuckerman.

About Phoenix House
A leading nonprofit provider of substance abuse treatment and prevention services since 1967, Phoenix House serves more than 5,000 men, women, and teens each day at more than 120 programs in 10 states-California, Florida, Maryland, Massachusetts, New Hampshire, New York, Rhode Island, Texas, Vermont, and Virginia-and the District of Columbia. For more information, visit www.phoenixhouse.org

About Phoenix House Academies
Since 1983, the Phoenix House Academies have enabled thousands of teens to recover from addiction while attending on-site accredited high schools. In 2005, they were designated "model programs" by the U.S. Department of Justice. The federal government has listed the Academy model in the Substance Abuse and Mental Health Services Administration's (SAMHSA) National Registry of Evidence-Based Programs and Practices (NREPP). Today, there are Phoenix House Academies in California, Massachusetts, New Hampshire, New York, Rhode Island, Texas, and Virginia.

About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world's leading commercial real estate advisory firms. Together with its affiliates and London-based partner Knight Frank, NGKF's 12,000 professionals operate from more than 330 offices in established and emerging property markets on six continents.

With roots dating back to 1929, NGKF's strong foundation makes it one of the most trusted names in commercial real estate. NGKF's full-service platform comprises BGC's real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.

NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC's common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com/.