Mark Friedman Of CareRite Centers Acquires Hospital In Whitestone Queens For $58.175M
157-15 19th Avenue
$58,175,000
$1,237/SF
Building Size
47,000 SF
Asset Type
Hospital
Closing
Apr 27, 2026
About this deal
AI
The asset involved in this transaction is a hospital located at 157-15 19th Avenue in Whitestone, Queens. The sale was concluded for $58,175,000, encompassing 47,000 square feet, resulting in a price per square foot of $1,238.
Summary of transaction details:
- Property Type: Hospital
- Transaction Amount: $58,175,000
- Square Footage: 47,000
- Price per Square Foot: $1,238
- Buyer: Mark Friedman - CareRite Centers
- Seller: Jeremy B. Strauss - Grand Healthcare
- Market: Whitestone, Queens
- Date of Sale: April 27, 2026
Mark Friedman, representing CareRite Centers through Forbes Ventures LLC, acquired the Grand Rehabilitation and Nursing at Queens facility along with an adjacent parking lot from Jeremy B. Strauss of Grand Healthcare's Clearview Land LLC. The transaction is noted as a cash-flowing investment deal that closed on April 28 and was recorded on June 24.
On the Map
$58,175,000
$1,237/SF
Hospital
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Queens Hospital Market Snapshot
Boundary boundary · Hospital · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93