Premium Health pays $12M to Marcal Group for medical space in Far Rockaway

Premium Health Center through the entity Premium Health Inc. paid $12 million to Marcal Group through the entity 1212 Seagirt LLC for a second and third floor medical condominium at 1212 Seagirt Boulevard in Far Rockaway, Queens. The expected use is owner-occupied.
The deal closed on June 23, 2025 and was recorded on July 9, 2025. The unit, lot 1002, has 16,643 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $721 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 Marcal Group was Mark Caller . The signatory for Premium Health Center was Meir Brody . The contract date was September 22, 2024.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Premium Health Center had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Marcal Group had not purchased any other properties and sold three properties in three transactions for a total of $19.2 million over the same time period.

The property

PincusCo cannot determine the lot area of the 1212 Seagirt Blvd parcel at this time.

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 not received any significant violations 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 block

On this tax block, PincusCo has identified the owner of the one commercial property that spans that spans zero square feet on the block.The identified owner is Marcal Group.
On the tax block, there was one new building construction project filed totaling 34,629 square feet. It is a 10-unit, 34,629 square-foot assembly (A-3) building submitted by Meyer Bodner with plans filed May 19, 2020 and permitted August 14, 2023.

All properties are development.

The seller

The PincusCo database currently indicates that Marcal Group owned at least 12 commercial properties with 61 residential units in New York City with 318,842 square feet and a city-determined market value of $59.6 million. (Market value is typically about 50% of actual value.) The portfolio has $79.5 million in debt, with top three lenders as Valley National Bank, CIT Bank, and Israel Discount Bank respectively. Within the portfolio, the bulk, or 85 percent of the 318,842 square feet of built space are office properties, with retail properties next occupying 11 percent of the space. The bulk, or 66 percent of the built space, is in Bronx, with Brooklyn next at 30 percent of the space.

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