YAPHANK, N.Y. — Chelsea Senior Living has opened the assisted living and memory care expansion at The Chelsea at Brookhaven in the Long Island hamlet of Yaphank. While community’s independent living portion has been open for the past two years, the assisted living and memory care building next door recently received licensing approval from the state. The community is surrounded by residential housing, shopping, a hotel and various new builds. The number of units was not disclosed.
NEW YORK CITY — Sunrise Senior Living has opened Sunrise at East 56th, a 151-unit high-rise in the Upper East Side neighborhood of Manhattan. Partners on the project included Hines and Welltower (NYSE: WELL). The asset features assisted living and memory care services. Sunrise is collaborating with Northwell Health for services at the building. The community is the first and only building in the sector to receive LEED Silver, WELL Certification at the Silver level and WELL Health-Safety Rating Seal certifications, according to Sunrise. SLCE Architects designed the building. Champalimaud …
NEW YORK CITY — Berkadia has provided a $22.6 million HUD loan for the permanent refinancing of Scheuer House of Manhattan Beach, a 149-unit Section 8 seniors housing property in Brooklyn. The property consists of one eight-story building and two five-story buildings that were respectively constructed in 1964 and 1932. Laura Smith of Berkadia originated the loan through HUD’s 223(f) program. The borrower, New York-based nonprofit JASA, will use a portion of the proceeds to fund capital improvements and preserve affordability.
NEW YORK CITY — RKTB Architects has completed Phoenix Estates II, a multifamily residence for families and seniors in the Hunts Point neighborhood of the Bronx. The eight-story, mixed-use complex features 108 studio, one-, two and three-bedroom units, 48 of which are reserved for seniors. Mutual Housing Association of New York (MHANY) and Nos Quedamos developed the 102,000-square-foot residence. All of the units are designated as affordable, and units for seniors are distributed throughout the building rather than grouped together, which the developers hope lead to intergenerational interactions. “The inclusion …
PURCHASE, N.Y. — HJ Sims has arranged $398.1 million in tax-exempt and taxable bonds for Purchase Senior Learning Community Inc., which was formed to develop a new university-based retirement community, Broadview at Purchase College, on the State University of New York Purchase College campus. Centrally located on campus, Broadview will be a continuing care retirement community (CCRC) consisting of up to 68 assisted living and memory care beds, as well as 220 senior residential apartments and villas, 20 percent of which will be reserved for residents earning no more than …
NEW YORK CITY — Greystone has provided $17.6 million in Fannie Mae Delegated Underwriting and Servicing (DUS) loans for the acquisition of two multifamily properties totaling 151 units in New York City. Dan Sacks and Ilan Bassali in Greystone’s New York office originated the loans on behalf of Heritage Affordable Communities LLC. Greystone provided a $12.5 million non-recourse loan to acquire Highland Avenue Senior Apartments, an 88-unit midrise seniors housing apartment property in Yonkers, which was constructed in 2008. The fixed-rate loan carries a 12-year term with a 30-year amortization …
MONTEBELLO, N.Y. — The Polaris Healthcare Network has opened The Sentinel of Rockland in Montebello, located along the New Jersey border northwest of New York City. Located on seven acres, the community offers assisted living services through the state’s Medicaid program. M&T Bank provided capital for the development. Further details were not disclosed.
SPRING VALLEY, N.Y. — Hudson Valley Property Group (HVPG) has acquired two affordable housing communities in the New York City suburb of Spring Valley $25.8 million. The properties include the 114-unit Lakeview Village, which is reserved for seniors, and the 76-unit Highview Apartments, which is reserved for families. Affordability restrictions at the property were set to expire in 2022. With Low-Income Housing Tax Credits (LIHTC), HVPG will acquire the properties, complete renovation upgrades and keep rents affordable for the long term. All apartments will be income-restricted to tenants earning 60 …
PORT JEFFERSON STATION, N.Y. — Marcus & Millichap has brokered the sale of The Vistas of Port Jefferson, a 244-unit active adult community in Port Jefferson Station. Built in 2019 on 27 acres, the 30-building property is located on the North Shore of Suffolk County in Long Island. The unit mix is 36 one-bedroom flat units, 144 two-bedroom flat units, and 64 two-bedroom townhouses. The Port Jefferson Long Island Railroad station and Northwell Mather Hospital are both nearby. The asset sold for $118 million, or $483,607 per unit. Greystar acquired …
WELLSVILLE, N.Y. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Manor Hills Assisted Living for $8 million. Located in Wellsville, near the Pennsylvania border south of Rochester, the asset features 89 units of assisted living and memory care. It was built in 1989. The seller is a private owner that previously divested its skilled nursing portfolio. The buyer is an Albany-based private owner-operator. Dave Balow from SLIB handled the transaction.
