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Atkins Companies and Denholtz Properties Acquire 490,000-Square-Foot Healthcare Facility in Chappaqua, N.Y.

7 April 2023

Atkins Companies and Denholtz Properties have announced the acquisition of the Medical Offices at Chappaqua Crossing, a 490,000-square-foot healthcare facility on a 59-acre site located at 480 Bedford Road in Chappaqua, N.Y.


The acquisition combines Atkins Companies’ expertise in modern healthcare facilities with Denholtz Properties’ capital markets and development experience to create a premier healthcare destination in the heart of Westchester County. The property is currently anchored by Northwell Health’s Northern Westchester Hospital. Northwell Health, the largest healthcare provider and private employer in New York, employs over 81,000 people. The facility also includes a significant presence from Optum’s CareMount Medical, a physician network serving New York, New Jersey, and Southern Connecticut.


Part of the larger Chappaqua Crossing community, the Medical Offices at Chappaqua Crossing are set within a vibrant, mixed-use development on the site of the former Reader’s Digest headquarters. The community features an upscale retail village with a Whole Foods Market, Life Time Fitness, a luxury townhome community by Toll Brothers, and amenities such as the Chappaqua Performing Arts Center.


“Over our history, our hands-on asset management approach has fostered successful relationships with many of the region’s most respected healthcare networks,” said Bob Atkins, Managing Partner of Atkins Companies. “We are excited to work with Denholtz Properties to maximize the potential of this unique asset and support Northwell Health, Optum CareMount Medical, and every tenant at the Medical Offices at Chappaqua Crossing as they expand their networks in the region.”


Steven Denholtz, CEO of Denholtz Properties, added, “Our success has always been defined by our ability to find value-add opportunities and deploy our proven management and investment strategy. Working with Atkins Companies presents a rare opportunity to leverage our complementary skill sets to drive results for our investors while creating an unparalleled center of healthcare excellence in New York.”


Chappaqua, located within New Castle, N.Y., boasts a highly affluent and well-educated demographic, with an average household income exceeding $330,000 and average home values nearing $1.2 million. The area provides convenient access to New York City via MetroNorth’s Harlem Line and excellent regional connectivity through the Saw Mill River Parkway, Interstate 684, and the Taconic State Parkway. Westchester County is home to major corporate headquarters including IBM, Regeneron, Pepsico, and Mastercard, and has a highly educated population, with over 52% of residents aged 25 and above holding a bachelor’s degree or higher.



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