The Residences at Penguin Hall

Investment Overview

The Opportunity – 55+ Residential Community Re-Development Kelleher & Sadowsky Associates, Inc. is pleased to offer for sale this one of a kind re-development at 36 Essex Street in Wenham MA, most recently occupied by The Academy at Penguin Hall. The buildings consist of +/- 115,000 square feet on +/- 50.48 acres of land. The original manor house was built in 1929 as a stately Gilded Age mansion with two modern additions. Just 25 miles from Boston and only three minutes to Rt-128, Wenham combines timeless New England charm with strong demographics: a median family income of $207,244, and more than 250,000 Essex County residents over 55 years of age. The property is located within the Residential Zoning District, which allows for single family residential, educational, and non-profit uses by right. Developers may also opt into the Senior Living Overlay District or the Independent Living Overlay District bylaw, which was created with this site in mind. These districts offer increased density for Senior Housing. The former school has filed for Chapter 11 Bankruptcy, therefore, the marketing process has been compressed with the goal of selecting a buyer by January 2026.

Investment Highlights

• 115,000 SF total over three separate but connected properties
• Zoned Residential
• Senior Living investment
• Located in desirable Wenham area