Matityahu Tenenbaum pays $10.3M for nursing home in Arverne

Matityahu Tenenbaum through the entity Lawrence SNF Realty LLC paid Susan Wagner, Jeffrey Felner and others’ Lincoln Associates LP $10.3 million for 20880 Beach 53rd Street in Arverne. The deal closed on November 20, 2019, and was recorded on December 2, 2019. The transaction consists of 1 parcel, including the tax class nursing home (I6). The property is 67,161 square feet. The parcel(s) have total development potential of 67,161 square feet.
The average sale price per square foot is $153.
The estimated cap rate is 6.5%

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link