The Residences at Penguin Hall

Market Price

36 Essex Street, Wenham, MA 01984

For Sale

Multifamily Senior Housing

Active

Last Updated: 09/16/2025

Details:

Building Size: 115,000 sqft

Lot Area: 50.48 acres

Units: 236

Offered by

Kelleher Sadowsky

Office Manager

Kelleher & Sadowsky

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Kelleher Sadowsky

Highlights:

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

Description:

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.

Penguin Hall is exceptionally well-positioned for connectivity. It is just 26 miles (35 minutes) from downtown Boston by car, with commuter rail service a few miles away. Residents will enjoy quick access to the cultural, medical, and economic resources of the city while living in a peaceful North Shore setting.

Nearby lifestyle amenities enhance the appeal of the location: West Beach in Beverly is only nine minutes away, and the area is rich in dining, shopping, museums, and cultural attractions. Together, these features make The Residences at Penguin Hall a compelling choice for seniors seeking an upscale, active, and connected living environment.

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