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New York

EV Cabrini nursing home sells for $25.5M

The Cabrini Center for Nursing and Rehabilitation, a nursing home for low-income elderly residents at Avenue B and 5th Street in the East Village, has been sold for $25.5 million, the Lo-Down reported.

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The 542 East 5th Street home was purchased by a company called “MM 62-74 Avenue B Owner,” according to city records, the blog said. The seller was another private corporation called “64 B Venture,” comprised of the estates of Jacob W. Friedman and Sol Henkind, the Lo-Down said.

Worries about Cabrini’s sale have billowed through the neighborhood since this fall when the property went on the market. Community Board 3 has been in contact with the buyer’s lawyers, Cozen O’Connor, as residents have expressed dismay over where the 204 patients will go if Cabrini cannot extend its lease past the April 2012 expiration date. [Lo-Down]