{"id":154481,"date":"2026-03-05T20:45:06","date_gmt":"2026-03-05T20:45:06","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/154481\/"},"modified":"2026-03-05T20:45:06","modified_gmt":"2026-03-05T20:45:06","slug":"excelsior-care-group-buys-queens-nursing-home-for-75m-commercial-observer","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/154481\/","title":{"rendered":"Excelsior Care Group Buys Queens Nursing Home for $75M \u2013 Commercial Observer"},"content":{"rendered":"<p><a href=\"https:\/\/commercialobserver.com\/company\/excelsior-care-group\/\" title=\"Excelsior Care Group\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">Excelsior Care Group<\/a>, a network of rehabilitation and elder care services in New York and New Jersey, has acquired the Union Plaza Care Center in Flushing, Queens, for $75 million, <a target=\"_blank\" rel=\"noopener nofollow\" href=\"https:\/\/a836-acris.nyc.gov\/DS\/DocumentSearch\/DocumentDetail?doc_id=2026030400489002\">property records made public Thursday show<\/a>.\u00a0<\/p>\n<p>Excelsior bought the 280-bed nursing home at 33-23 Union Street from <a href=\"https:\/\/commercialobserver.com\/company\/marx-development\/\" title=\"Marx Development\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">Marx Development<\/a>, which owns, develops and manages a variety of properties in New York City, including senior care facilities, hotels and muiltifamily buildings. Marx Development previously completed a $32 million refinance of the 146,042-square-foot nursing home in October 2022 with Bankwell Bank, as <a target=\"_blank\" rel=\"noopener nofollow\" href=\"https:\/\/traded.co\/deals\/new-york\/other\/loan\/33-23-union-street\/\">Traded reported<\/a> at the time.\u00a0<\/p>\n<p>SEE ALSO: <a href=\"https:\/\/commercialobserver.com\/2026\/03\/monticelloam-florida-apartments\/\" rel=\"nofollow noopener\" target=\"_blank\">Monticelloam Provides $52M Refi for Florida Apartments<\/a><\/p>\n<p>David Marx, owner and CEO of Marx Development, was the signatory for the seller, while Joel Leifer, owner of Excelsior, signed for the buyer.<\/p>\n<p>Spokespeople for Union Plaza Care Center, Marx Development and Excelsior did not immediately respond to requests for comment.\u00a0<\/p>\n<p>Founded in 1996, Union Plaza Care Center, located on Union Street between 33rd and 34th avenues in Flushing, offers a variety of services, including long-term care, skilled nursing and rehabilitation. Marx bought the facility way back in 1994, records show.<\/p>\n<p>News of the deal comes after another recent nursing home sale in Flushing. In January, Jack Deutsch, an owner of several nursing centers in New York, sold the Woodcrest Rehabilitation &amp; Residential Health Care Center at 119-09 26th Avenue to nursing home investor Yaakov Sod for $55 million, <a href=\"https:\/\/commercialobserver.com\/2026\/01\/jack-deutsch-sells-nursing-home-queens\/\" rel=\"nofollow noopener\" target=\"_blank\">as Commercial Observer previously reported<\/a>.<\/p>\n<p>Amanda Schiavo can be reached at <a href=\"https:\/\/commercialobserver.com\/2026\/03\/excelsior-care-group-buys-queens-nursing-home-33-23-union-street\/mailto:aschiavo@commercialobserver.com\" rel=\"nofollow noopener\" target=\"_blank\">aschiavo@commercialobserver.com<\/a>.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Excelsior Care Group, a network of rehabilitation and elder care services in New York and New Jersey, has&hellip;\n","protected":false},"author":2,"featured_media":154482,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[64012,64013,2664,64014,9,24,63,122,124,123,64015],"class_list":{"0":"post-154481","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-queens","8":"tag-33-23-union-street","9":"tag-david-marx","10":"tag-investments-sales","11":"tag-joel-leifer","12":"tag-new-york","13":"tag-new-york-city","14":"tag-nyc","15":"tag-queens","16":"tag-queens-headlines","17":"tag-queens-news","18":"tag-union-plaza-care-center-channel"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/154481","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=154481"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/154481\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/154482"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=154481"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=154481"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=154481"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}