Excelsior Care Group Buys Queens Nursing Home for $75M

Excelsior Care Group, 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, property records made public Thursday show. 

Excelsior bought the 280-bed nursing home at 33-23 Union Street from Marx Development, 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 Traded reported at the time. 

David Marx, owner and CEO of Marx Development, was the signatory for the seller, while Joel Leifer, owner of Excelsior, signed for the buyer.

Spokespeople for Union Plaza Care Center, Marx Development and Excelsior did not immediately respond to requests for comment. 

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.

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 & Residential Health Care Center at 119-09 26th Avenue to nursing home investor Yaakov Sod for $55 million, as Commercial Observer previously reported.

Amanda Schiavo can be reached at aschiavo@commercialobserver.com.