Pasquale DeBenedictis And Alex Solovey Acquire Margaret Tietz Nursing And Rehabilitation Center In New York For $41M
164-11 Chapin Pkwy, Jamaica, NY 11432, USA
Building Size
50,451 SF
Asset Type
Other
Closing
Nov 28, 2020
About this deal
AI
The Margaret Tietz Nursing and Rehabilitation Center, located at 164-11 Chapin Parkway in Jamaica, Queens, New York, has been sold for $41,000,000. The property is a nursing home facility, offering 140 private rooms and 30 semi-private rooms.
Summary of transaction details
- Property Type: Nursing Home
- Transaction Amount: $41,000,000
- Address: 164-11 Chapin Parkway, Jamaica, Queens, New York
- Market: Jamaica, Queens
The seller of the Margaret Tietz Nursing and Rehabilitation Center is CenterLight Health System, while the buyers include CassenaCare principals Pasquale DeBenedictis and Alex Solovey, as well as Workmen’s Circle MultiCare Center. It is important to note that the state's approval is still pending for this deal.
Players
New York Other Market Snapshot
Boundary boundary · Other · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93