Manhattan nursing home deal with Chetrit, Stellar faces opposition

New York /
Aug.August 23, 2010 06:00 PM

Jewish Home CEO Audrey Weiner, Stellar founder Larry Gluck and 120 West 106th Street

Jewish Home Lifecare, a not-for-profit system that owns nursing homes in Manhattan, the Bronx and Westchester, plans to spend $250 million on a 24-story, 408-bed facility at a site on West 100th Street, between Amsterdam and Columbus avenues, in Park West Village. Using a unique model of care that offers residents private rooms and bathrooms, an open kitchen and a communal living area, it would be Manhattan’s first “Green House” for the elderly, the Wall Street Journal reported. But the plan has met with protests from local residents who say the project’s construction will overwhelm their congested neighborhood. Another challenge that remains to be settled is the finalization of Jewish Home’s planned land swap with the developers, the Chetrit Group and Stellar Management. Under the deal, Jewish Home would give the developers its existing facility at 120 West 106th Street, along with a building on West 105th Street. In turn, the developers would give Jewish Home the West 100th Street site, which is about one-third the size of its existing facility, and “tens of millions of dollars,” according to Audrey Weiner, Jewish Home’s president and CEO. [WSJ]

 

Related Articles

arrow_forward_ios
Joseph Chetrit, Jordan Slone (Getty, NADLAN)
Harbor buys nearly 5,500-unit portfolio from Chetrit for $390M
Harbor buys nearly 5,500-unit portfolio from Chetrit for $390M
315 West 35th Street with Isaac Chetrit and DJ Dashti (Google Maps, Linkedin, iStock)
Chetrit to open flex-office location near Penn Station
Chetrit to open flex-office location near Penn Station
261 Madison Avenue and 205 East 42nd Street are among the closed locations. (Sapir, Durst, WeWork)
WeWork dumps several Manhattan locations
WeWork dumps several Manhattan locations
From left:  Joseph Chetrit, 404 Fifth Avenue and WeWork CEO Sandeep Mathrani (Photos via Wikipedia Commons; Google Maps)
WeWork battles Chetrit Group over Midtown lease
WeWork battles Chetrit Group over Midtown lease
Joseph Chetrit and 49 Chambers (Getty, 49 Chambers)
Chetrit lands $90M inventory loans for Tribeca condo conversion
Chetrit lands $90M inventory loans for Tribeca condo conversion
Sharif El-Gamal, Joseph Chetrit and 1384 Broadway (Getty; Google Maps)
Chetrit Group sues Sharif El-Gamal for unpaid rent
Chetrit Group sues Sharif El-Gamal for unpaid rent
2870 Ocean Avenue and Isaac Chetrit, and 936 Home Street (Google Maps) 
Chetrit family’s dev site buy tops weekly mid-market sales
Chetrit family’s dev site buy tops weekly mid-market sales
Chetrit Group principal Michael Chetrit and 850 Third Avenue (850thirdavenue, iStock, Discovery Channel)
Chetrit battles Discovery Channel at 850 3rd Avenue
Chetrit battles Discovery Channel at 850 3rd Avenue
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...