Citadel Care Centers pays $45M to New Jewish Home for senior living in Fordham Manor

Citadel Care Centers through the entity Citadel Senior Housing, Inc. paid $45 million to New Jewish Home through the entity Jewish Home Lifecare for the 295-room senior living facility building (I7) at 2550 Webb Avenue in Fordham Manor, Bronx.
The deal closed on May 29, 2025 and was recorded on June 12, 2025. The property has 216,000 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $208 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 sale was through an entity-level transfer, not a deed. Leo Friedman leads Citadel Care Centers, according to this LinkedIn account.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Citadel Care Centers had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller New Jewish Home had not purchased any other properties and had not sold any properties over the same time period. The former owners according to the Department of Housing Preservation and Development includes Jeffery Farber, head officer and Mark Weiss, officer. The business entities are Kittay House, Jewish Home Lifecare, Inc. and Kittay House Jewish Home Lifecare.

The property

The specialty building in Fordham Manor has 216,000 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 393 feet and is 165 feet deep with a total lot size of 61,032 square feet. The lot is irregular. The zoning is R6 which allows for up to 2.43 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $25.9 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 one DOB violation and eight housing violations in the last year.

Development

For the tax lot building, it received its initial certificate of occupancy on September 13, 2012. 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 Fordham Manor, The bulk, or 35 percent of the 18.4 million square feet of commercial built space are walkup buildings, with elevator buildings next occupying 28 percent of the space. In sales, Fordham Manor has had very little sales volume relative to other neighborhoods with $127.8 million in sales volume in the last two years. For development, Fordham Manor has had very little major development activity relative to other neighborhoods.It had 899,375 square feet of commercial and multi-family construction under development in the last two years, which represents 5 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of nine of the 12 commercial properties representing 738,649 square feet of the 1,052,498 square feet. The largest owner is Leopold Friedman, followed by Prana Investments and then Barry Singer.
On the tax block, there was one new building construction project filed totaling 26,543 square feet. It is a 37-unit, 26,543 square-foot residential (R-2) building submitted by Israel Frankel and filed by Israel Frankel with plans filed February 22, 2022 and permitted March 25, 2022.

The majority, or 71 percent of the 1.1 million square feet of built space are specialty buildings, with walkup buildings next occupying 29 percent of the space.

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