Hadran Academy, a Brooklyn-based Orthodox Jewish private school for boys with autism and other disabilities, is issuing approximately $56 million in tax-exempt revenue bonds and $3.7 million in taxable debt to fund a new campus expansion. The sale is being conducted through the Build NYC Resource Corporation. The school, which charges $173,000 in tuition, relies heavily on reimbursements from the New York City Department of Education, covering roughly 93% of fees.
This reimbursement model is part of a broader system where the city spent $1.1 billion in fiscal year 2025 on 'due process' cases, including $723 million in private school tuition. Hadran plans to use the bond proceeds to build a new facility featuring autism-friendly design, a STEM lab, makerspace, therapy rooms, and a synagogue, aiming to increase enrollment from 144 to 250 students. The school was founded in 2016 by Mordechai Meisels.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing