Yes, Even a Rehab Center Can Be Turned Into Luxury Condos
Phoenix House at 164-166 W. 74th Street has joined the stampede to become luxury condos (image via Google Maps)
Feb. 24, 2016 — Synagogues are doing it. Churches and chunks of college campuses are doing it. So why shouldn’t a drug and alcohol rehab facility do it? What they’re doing, of course, is turning into luxury condos.
The latest building to join the stampede is Phoenix House at 164-166 W. 74th Street on the Upper West Side of Manhattan, a landmarked building that’s headquarters to one of the largest drug and alcohol rehab nonprofits in the country. Greystone Development and Prime Rok Real Estate bought the seven-story building last week for $26.8 million, The Real Deal reports, with plans to turn the 33,000 square feet of space into 14 luxury condos. Prices are expected to range from $2.3 million to $6.5 million for the duplex penthouse.
Architect Barry Rice has been hired to design the interior. The facade will remain unchanged since the building is in the Upper West Side/Central Park West historic district.
Phoenix House, meanwhile, will relocate operations to its other New York properties, including one at 2191 Third Avenue in East Harlem.