The headquarters of drug treatment program Phoenix House at 164-166 West 74th street has been sold to two developers intent on turning the building into condos. Greystone Development and Prime Rok Real Estate bought the property for $26.8 million, according to the Real Deal.
Phoenix House, a drug treatment nonprofit, has owned the building since 1972. It will move its operations to its other buildings over the next few months.
“Once the building is vacant, the developers are considering repositioning it as 14 luxury condo units, with the duplex penthouse set to ask $6.5 million. The apartments could range in size from 1,000 to 2,850 square feet, Hedvat said. Prices could start at about $2.3 million.”
The conversion is expected to be complete by 2018. Because it’s in a landmark district the developers will be limited in how much they can change the facade.
Because there’s an urgent need to reduce drug treatment?
ridiculous
No, there obviously isn’t an urgent need to reduce drug treatement (especially under this administration) but if Phoenix House can use the proceeds of the sale to continue and expand their services at a different and lower cost location, I would assume that’s better for everyone…including sarcastic and judgemental UWSers…
Hurray DeBlasio’s plan to resolve the billionaire homelessness problem is working!
It might just be that there isn’t enough funding for the treatment that’s necessary and Phoenix House can now use this money to provide sorely needed services. Just a thought. Geesh people, get some positivity will you?
@kbmc
For me, I find it a little difficult to be all positive about “there isn’t enough funding for the treatment that’s necessary” It does not make me smile.
I am not smiling about a developer making tons of money, and people getting to live in $2 million apartments while “ther insn’t enough money”.
Gee, there just isn’t enough money for treatment. Let’s smile through it. Be happy!
I guess I’ll take millionaires over drug addicts.
@9d8b7988045e4953a882
Now you have said it out loud. We hear you clearly and wonder how you just don’t want any part of these neighbors, let alone help.
The drug addicts are friendlier then the euro trash whom will be buying these apartments.
Good. Drug treatment centers like this shouldn’t be in the middle of residential neighborhoods. Concentrate them all by major commercial transit hubs like penn station or Times Square
I am surprised Phoenix Housse was there for that long given the value of the property. , I think it was a perfect neighborhood for a drug treatment program. I am tired of drug treatment programs being in poor neighborhoods.
I have lived on that block for decades and have never had a problem with anyone from that building. Sorry to see them go.
Good move to sell. The proceeds can help them. If youre upset about this- ever givd them a penny? Right. Of course not. Keep a rehab in an area where its expensive and the building upkeep is high. Thats a good idea. As far as rehabs in poor areas-serve th people where they live. Why import them here? I support the condos.
oh…. i wondered what went on there. i’d walk by and be like, “how does that person afford to live there.
Great!! Just what me need on the Upper West Side. More condos. How about more moderate income housing. Like real affordable housing.
With all the development, conversions, etc., folks like me who have lived on the Upper West Side for more than 20 years, are being pushed out.
Glad to hear though that building is in landmark district so the developers can’t change facade.
Putting a sliver, boxy building in that space would change the character of the neighborhood.