Emerald Group, Infinite Care pay $102.5M to Daryl Hagler for nursing home in Concourse Village

Emerald Group and Infinite Care through the entity 1160 Teller Snf Realty LLC paid $102.5 million to Daryl Hagler through the entity DOJ Land Associates LLC for the Triboro Center, Centers Health Care, building (I6) at 1160 Teller Avenue in Concourse Village, Bronx. The expected use is cash flowing.
The deal closed on March 13, 2026 and was recorded on March 31, 2026. The property has 214,370 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $478 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 seller bought the property on September 15, 2016, for $17.5 million. The signatory for Daryl Hagler was Daryl Hagler. The signatory for Emerald Group and Infinite Care was Shmuel Serle . The contract date was March 13, 2026.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has records that the buyer Emerald Group purchased 10 properties in seven transactions for a total of $356.1 million and has no record it sold any properties over the past 24 months.
The seller Daryl Hagler had not purchased any other properties and sold 13 properties in eight transactions for a total of $420.1 million over the same time period.

The property

The specialty building in Concourse Village has 214,370 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 386 feet and is 81 feet deep with a total lot size of 50,000 square feet. The lot is irregular. The zoning is R7-1 which allows for up to 3.44 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $35 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, $6,250 in ECB penalties, and $10,955 in OATH penalties in the last year.

Development

For the tax lot building, it received its initial certificate of occupancy on January 8, 2015. 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 Concourse Village, The bulk, or 39 percent of the 17.6 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 28 percent of the space. In sales, Concourse Village has had very little sales volume relative to other neighborhoods with $138.5 million in sales volume in the last two years. For development, Concourse Village has 1.3 times the average amount of major developments relative to other neighborhoods and is the 4th highest in Bronx. It had 2 million square feet of commercial and multi-family construction under development in the last two years, which represents 12 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of three of the 10 commercial properties representing 40,817 square feet of the 322,441 square feet. The two identified owners are Josue Velazquez and New York City Housing Authority.
There are no active new building construction projects on this tax block.

The majority, or 66 percent of the 322,441 square feet of built space are specialty buildings, with walkup buildings next occupying 23 percent of the space.

The seller

The PincusCo database currently indicates that Daryl Hagler owned at least four commercial properties in New York City with 395,962 square feet and a city-determined market value of $54.2 million. (Market value is typically about 50% of actual value.) The portfolio has $196.7 million in debt, with top three lenders as Popular Bank, Benzion Lebovits, and M&T Bank respectively. Within the portfolio, the bulk, or 80 percent of the 395,962 square feet of built space are hotel properties, with office properties next occupying 12 percent of the space. The bulk, or 46 percent of the built space, is in Queens, with Manhattan next at 34 percent of the space.

The buyer

The PincusCo database currently indicates that Emerald Group owned at least 10 commercial properties with 46 residential units in New York City with 701,649 square feet and a city-determined market value of $94.4 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 100 percent of the 701,649 square feet of built space are specialty properties, with industrial properties next occupying 0 percent of the space. The bulk, or 83 percent of the built space, is in Brooklyn, with Bronx next at 12 percent of the space.
The PincusCo database currently indicates that Infinite Care owned at least 10 commercial properties with 46 residential units in New York City with 701,649 square feet and a city-determined market value of $94.4 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 100 percent of the 701,649 square feet of built space are specialty properties, with industrial properties next occupying 0 percent of the space. The bulk, or 83 percent of the built space, is in Brooklyn, with Bronx next at 12 percent of the space.

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