Emerald Group, Infinite Care pay $7M to Daryl Hagler for nursing home in Fordham Manor

Emerald Group and Infinite Care through the entity 2505 Grand SNF Realty LLC paid $7 million to Daryl Hagler through the entity Rrr Property Services LLC for the 46-unit nursing home building (I6) at 2505 Grand Avenue in Fordham Manor, Bronx. The expected use is cash flowing.
The deal closed on March 13, 2026 and was recorded on March 30, 2026. The property has 8,300 square feet of built space and 24,757 square feet of additional air rights for a total buildable of 33,055 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $843 and the price per buildable square foot is $211 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 August 30, 2007, for $712,775. 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 nine properties in six transactions for a total of $349.1 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 12 properties in seven transactions for a total of $413.1 million over the same time period.

The property

The specialty building with 46 residential units in Fordham Manor has 8,300 square feet of built space and 24,757 square feet of additional air rights for a total buildable of 33,055 square feet according to a PincusCo analysis of city data. The parcel has frontage of 100 feet and is 106 feet deep with a total lot size of 13,603 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 $989,000.

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 $600 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 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 $186.9 million in sales volume in the last two years. For development, Fordham Manor has 1.2 times the average amount of major developments relative to other neighborhoods and is the 5th highest in Bronx. It had 1.8 million square feet of commercial and multi-family construction under development in the last two years, which represents 10 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of eight of the 15 commercial properties representing 365,422 square feet of the 530,642 square feet. The largest owner is Finkelstein Timberger East Real Estate, followed by Parkway Realty Associates and then Prana Investments.
On the tax block, there was one new building construction project filed totaling 4,540 square feet. It is a seven-unit, 4,540 square-foot residential (R-2) building submitted by Ascher Berkowitz with plans filed June 8, 2022 and permitted February 18, 2023.

The majority, or 68 percent of the 530,642 square feet of built space are walkup buildings, with elevator buildings next occupying 30 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 nine commercial properties in New York City with 693,349 square feet and a city-determined market value of $93.5 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 100 percent of the 693,349 square feet of built space are specialty properties, with industrial properties next occupying 0 percent of the space. The bulk, or 84 percent of the built space, is in Brooklyn, with Bronx next at 11 percent of the space.
The PincusCo database currently indicates that Infinite Care owned at least nine commercial properties in New York City with 693,349 square feet and a city-determined market value of $93.5 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 100 percent of the 693,349 square feet of built space are specialty properties, with industrial properties next occupying 0 percent of the space. The bulk, or 84 percent of the built space, is in Brooklyn, with Bronx next at 11 percent of the space.

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