Upper East Side nursing home lands $127M in financing

Loan will pay off bridge loan, fund improvements to building at 211 East 79th

New York /
May.May 22, 2018 11:05 AM

211 East 79th Street

An Upper East Side nursing home has landed a $127 million loan from KeyBank.

The money for the Upper East Side Rehabilitation and Nursing Center, located at 211 East 79th Street, will pay off a previous acquisition bridge loan from KeyBank and finance more than $7 million in improvements at the facility, according to KeyBank.

The financing team was made up of KeyBank’s John Randolph, Henry Alonso and Brandon Taseff.

KeyBank also financed the $105.5 million acquisition of the building in 2015 with a $93 million loan. The nursing home operator Cassena Care bought the building that year from longtime owner Marilyn Lichtman.


Related Articles

arrow_forward_ios
With a cooling trade war, stocks perform well, including real estate. (Credit: iStock)
Real estate stocks push up this week as U.S.-China trade tensions ease
Real estate stocks push up this week as U.S.-China trade tensions ease
416 West 25th Street and Maverick Real Estate Partners principal David Aviram (Credit: Google Maps and LinkedIn)
Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case
Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case
From left: 909 Third Avenue, 79 Fifth Avenue, 240 West 37th Street and 27 East 62nd Street (VNO, Cercone Exterior Restoration, Google Maps)
These were the largest Manhattan real estate loans in April
These were the largest Manhattan real estate loans in April
C-PACE gives landlords and developers cheap financing in exchange for making energy efficient improvements. (Getty)
Landlords can now retroactively tap financing tool for energy improvements
Landlords can now retroactively tap financing tool for energy improvements
11 East 26th Street with Henry and Justin Elghanayan (Google Maps, Getty)
Rockrose investment values Nomad office building at $235M
Rockrose investment values Nomad office building at $235M
Businessman Ron Perelman (Getty, Serena Boardman)
Ron Perelman publicly lists Upper East Side townhouse with price cut
Ron Perelman publicly lists Upper East Side townhouse with price cut
Jamie Dimon, Steve Roth, Donald Trump and 555 California St. (Trump, Getty)
Vornado lines up $1.2B refi of SF tower co-owned with Trump
Vornado lines up $1.2B refi of SF tower co-owned with Trump
Renderings of 310 East 67th Street and Longfellow Real Estate Partners CEO Adam Sichol (Friends UES, Rendering by DBOX, Longfellow)
Blood Center’s plans for big Upper East Side HQ draw criticism
Blood Center’s plans for big Upper East Side HQ draw criticism
arrow_forward_ios

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

Loading...