CareRite Centers Acquires Queens Nursing Home for $58M

CareRite Centers, a New Jersey-based physical therapy, elder care and rehabilitation provider, has acquired the Grand Rehabilitation and Nursing at Queens for $58.2 million, property records made public Wednesday show. 

The deal for the three-story rehab center building at 157-15 19th Avenue in Whitestone, Queens, and for an adjacent parking lot on 19th Avenue, closed  April 28 and was recorded  June 24.

The seller was Clearview Land LLC, which appears tied to Grand Healthcare System CEO Jeremy Strauss, records show. Grand Healthcare is a New York-based network with about 12 skilled nursing and rehab centers.

Mark Friedman, a principal and co-founder of CareRite Centers, signed the deal for the buyer. 

CareRite Centers did not immediately respond to a request for comment, while Grand Healthcare could not be reached for comment.

The Grand Rehabilitation Center at Queens is a 179-bed facility that offers a variety of services including physical therapy, radiology and lab tests. The building has 47,000 square feet of built space, and 10,169 square feet of additional air rights, according to data from PincusCo. Market value for the property was designated by the city at $8.1 million in 2022. 

It’s unclear what CareRite, which operates three other facilities in Brooklyn and one in Manhattan, plans to do with its new Queens property.

The Grand Healthcare system, which has an overall rating of 1.8 out of 3 stars from Medicare, was named in a lawsuit in 2024, which alleged the company committed fraud, and was ordered to pay a settlement of $21.3 million. 

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