After filing for bankruptcy in April, St. Christopher’s Inc. has put its 6.98-acre property at 71 Broadway on the market for $12.5 million. St. Christopher’s has owned that site since 1890, and had operated it as a residential treatment center for children with educational and developmental disabilities.
According to the St. Christopher’s CEO Sarah Ruback, the organization restructured its finances due to legal bills resulting from the New York State’s Child Victim Act, passed in 2019, which allows survivors of alleged childhood sexual abuse to sue up to age 55.
In June, St. Christopher’s secured a debtor-in-possession loan against the property from Florida-based lender Layla Capital. The loan allows St. Christopher’s to continue operating its Dobbs Ferry location while it looks for a potential buyer.
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