Allure Group signs $44.8M refi with Dwight Capital for nursing home in Bay Ridge

Allure Group through the entity Hamilton Park Multicare LLC as borrower signed a refi loan with lender Dwight Capital through the entity Dwight Capital LLC valued at $44.8 million for the specialty building (I6) at 691 92nd Street in Bay Ridge, Brooklyn.
The deal closed on October 28, 2025 and was recorded on December 9, 2025. The prior lender was Webster Bank which held debt that had an original loan amount of $39.1 million.The property has 161,669 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $277 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The owner bought the property on October 21, 2010, for $20 million.

The property

The specialty building in Bay Ridge has 161,669 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 122 feet and is 299 feet deep with a total lot size of 32,017 square feet. The lot is irregular. The zoning is R4B which allows for up to 0.9 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $32.4 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has received $3,310 in OATH penalties in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The neighborhood

In Bay Ridge, The bulk, or 30 percent of the 21 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 28 percent of the space. In sales, Bay Ridge has near average sales volume among other neighborhoods with $323.6 million in sales volume in the last two years and is the 24th highest in Brooklyn. For development, Bay Ridge has had very little major development activity relative to other neighborhoods.It had 327,323 square feet of commercial and multi-family construction under development in the last two years, which represents 2 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of three of the three commercial properties representing 340,984 square feet of the 340,984 square feet. The two identified owners are Allure Group and Liebel Rubin.
There are no active new building construction projects on this tax block.

The majority, or 99 percent of the 340,984 square feet of built space are specialty buildings, with industrial buildings next occupying 1 percent of the space.

The borrower

The PincusCo database currently indicates that Allure Group owned at least seven commercial properties in New York City with 628,185 square feet and a city-determined market value of $115.8 million. (Market value is typically about 50% of actual value.) The portfolio has $186.9 million in debt, with top three lenders as Webster Bank, Dwight Capital, and Metropolitan Commercial Bank respectively. Within the portfolio, the bulk, or 75 percent of the 628,185 square feet of built space are specialty properties, with N2 properties next occupying 19 percent of the space. They are all located in Brooklyn.
The PincusCo database currently indicates that Liebel Rubin owned at least two commercial properties in New York City with 224,576 square feet and a city-determined market value of $37.9 million. (Market value is typically about 50% of actual value.) The portfolio has $77.8 million in debt, borrowed from Sterling National Bank and Metropolitan Commercial Bank. Within the portfolio, all identified are specialty properties. The bulk, or 72 percent of the built space, is in Brooklyn, with Queens next at 28 percent of the space.

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