Joel Landau and 810 St. Mark's Avenue (Credit: Google Maps)
Allure Group Bough the BK Nursing Home in 2014
The Allure Group just landed a $48.4 million loan to refinance a Crown Heights nursing home.
Maryland-based Andrews Federal Credit Union provided a new loan of
$13.4 million, which is being consolidated with $36 million in previous
debt, records filed with the city’s Department of Finance on Thursday
show. The remaining principal on the previous loan is $34.9 million.
Allure purchased the facility at 810 St. Marks Avenue — known as the
Crown Heights Center for Nursing and Rehabilitation Center — in 2014 for
$13 million.
Representatives for Allure declined to comment on the refinancing.
Allure, which is led by Joel Landau and specializes in nursing homes, was at the center of the Rivington House controversy. The company purchased 45 Rivington Street
in 2015 for $28 million. After succeeding in getting a deed restriction
on the property lifted, the company sold the nursing home to Slate
Property Group for a $72 million profit. Last year, the city admitted
that it didn’t have a legal case against Allure for flipping the property.
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