Bialystoker nursing center hits market for residential conversion

New York /
Aug.August 04, 2011 06:48 PM

alternate
text
(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]


Related Articles

arrow_forward_ios
Placeholder image
Judge approves Grubb & Ellis’ bankruptcy plan
Judge approves Grubb & Ellis’ bankruptcy plan
From left: Jonathan Miller, now of Lee & Associates, the Barney's space on Madison Avenue and 9 West 57th Street
Lee & Associates picks up three more brokers from Grubb & Ellis
Lee & Associates picks up three more brokers from Grubb & Ellis
Placeholder image
Lutnick explains BGC’s real estate plays: VIDEO
Lutnick explains BGC’s real estate plays: VIDEO
Placeholder image
Grubb NYC office implodes after BGC purchase
Grubb NYC office implodes after BGC purchase
Placeholder image
Newmark, Grubb change name
Newmark, Grubb change name
A screenshot of the CompStak site
New technology bets on brokers’ loose lips
New technology bets on brokers’ loose lips
Placeholder image
Three Grubb employees bolt for Cassidy Turley
Three Grubb employees bolt for Cassidy Turley
BGC could get cash back in Grubb purchase
BGC could get cash back in Grubb purchase
BGC could get cash back in Grubb purchase
arrow_forward_ios

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

Loading...