The Real Deal New York

Bialystoker nursing center hits market for residential conversion

August 04, 2011 06:48PM

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(from left) Bialystoker Center and Grub & Ellis illustration of potential conversion

Lower East Side residents protested the shuttering of the Bialystoker Center nursing home yesterday, out of fear it would be turned into a luxury apartment complex. Today, Lo-Down NY reported that their worst nightmare may soon come to fruition.

Commercial brokerage Grubb & Ellis is listing the property at 222-230 East Broadway, without a price, but call it a “highly desirable development site” ripe for residential development of more than 70,000 square feet. According to the listing, held by agents Neil Helman and Vincent Carrega, a buyer must agree to wait up to 18 months for the nursing home to completely cease operations in the facility.

Lo-Down NY also noted that the three-story office property adjacent to the nursing home at 232 East Broadway, was recently bought for $1.5 million by Matthew Adam Properties, a real estate firm headed by the chairman of the Bialystoker board, Ira Meister. [Lo-Down]

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