Emerald Group, Infinite Care pay $16M to Daryl Hagler for nursing facility in Highbridge

Emerald Group and Infinite Care through the entity 1401 Mlk SNF Realty LLC paid $16 million to Daryl Hagler and Centers Health Care through the entity Hope Center Realty Operations Associates LLC for the specialty Hope Center building (N9) at 1401 Dr Martin Luther King Jr. Boulevard in Highbridge, Bronx and two nearby properties, 1400 Dr Martin Luther King Jr Boulevard and 1407 Dr Martin Luther King Jr. Boulevard. The expected use is cash flowing.
The deal closed on March 13, 2026 and was recorded on April 3, 2026. The three properties have 32,000 square feet of built space and 35,617 square feet of additional air rights for a total buildable of 63,165 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $500 and the price per buildable square foot is $253 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 signatory for Daryl Hagler and Centers Health Care was Daryl Hagler. The signatory for Emerald Group and Infinite Care was Shmuel Serle . The contract date was March 13, 2026.

This sale is part of a wider deal valued at about $1.7 billion, previously reported by The Promote.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has records that the buyer Emerald Group purchased 11 properties in eight transactions for a total of $458.6 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 14 properties in nine transactions for a total of $522.6 million over the same time period.

The property

The specialty building in Highbridge has 32,000 square feet of built space and 35,617 square feet of additional air rights for a total buildable of 63,165 square feet according to a PincusCo analysis of city data. The parcel has frontage of 80 feet and is 100 feet deep with a total lot size of 8,008 square feet. 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 $8.4 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the properties for the past 24 months. In addition, according to city public data, the properties have received $100 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 Highbridge, The majority, or 60 percent of the 12.5 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 26 percent of the space. In sales, Highbridge has the 30th highest sale turnover among other neighborhoods in Bronx with $49.9 million in sales volume in the last two years. For development, Highbridge has had very little major development activity relative to other neighborhoods.It had 972,229 square feet of commercial and multi-family construction under development in the last two years, which represents 8 percent of the neighborhood’s built space.

The block

On the tax block of 1401 Dr Martin Luther King Jr Blvd, PincusCo has identified the owners of three of the 13 commercial properties representing 96,800 square feet of the 96,800 square feet. The two identified owners are Samaritan Daytop Village and Highbridge Community Development Corporation.
On the tax block, there was one new building construction project filed totaling 333,508 square feet. It is a 422-unit, 333,508 square-foot residential (R-2) building submitted by Samaritan Daytop Village and filed by Gerald Mascuch with plans filed December 26, 2023 and permitted November 19, 2024.

The majority, or 47 percent of the 96,800 square feet of built space are specialty buildings, with elevator buildings next occupying 27 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 PincusCo database currently indicates that Centers Health Care owned at least two commercial properties in New York City with 102,670 square feet and a city-determined market value of $9.7 million. (Market value is typically about 50% of actual value.) The portfolio has $17.9 million in debt, borrowed from Bankwell Bank. Within the portfolio, all identified are industrial properties. They are all located in Queens.

The buyer

The PincusCo database currently indicates that Infinite Care owned at least 11 commercial properties with 46 residential units in New York City with 916,019 square feet and a city-determined market value of $126.8 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 100 percent of the 916,019 square feet of built space are specialty properties, with industrial properties next occupying 0 percent of the space. The bulk, or 64 percent of the built space, is in Brooklyn, with Bronx next at 33 percent of the space.
The PincusCo database currently indicates that Emerald Group owned at least 11 commercial properties with 46 residential units in New York City with 916,019 square feet and a city-determined market value of $126.8 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 100 percent of the 916,019 square feet of built space are specialty properties, with industrial properties next occupying 0 percent of the space. The bulk, or 64 percent of the built space, is in Brooklyn, with Bronx next at 33 percent of the space.

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