No Mr. Landau – No picture of you here!
Firm tied to Rivington House scandal scores $48M refi in Crown Heights
The Allure Group just landed a $48.4 million loan to refinance a Crown Heights nursing home.
Maryland-based Andrews Federal Credit Union provided a new loan of $13.4 million, which is being consolidated with $36 million in previous debt, records filed with the city’s Department of Finance on Thursday show. The remaining principal on the previous loan is $34.9 million.
Allure purchased the facility at 810 St. Marks Avenue — known as the Crown Heights Center for Nursing and Rehabilitation Center — in 2014 for $13 million.
Representatives for Allure declined to comment on the refinancing.
Allure, which is led by Joel Landau and specializes in nursing homes, was at the center of the Rivington House controversy. The company purchased 45 Rivington Street in 2015 for $28 million. After succeeding in getting a deed restriction on the property lifted, the company sold the nursing home to Slate Property Group for a $72 million profit. Last year, the city admitted that it didn’t have a legal case against Allure for flipping the property.
Earlier this month, Allure prevailed over a lawsuit filed by residents of CABS Nursing Home in Bedford-Stuyvesant. CABS filed a lawsuit against Allure last year, claiming the company forced out residents soon after buying the facility in 2015. The lawsuit was dismissed Oct. 4, though the nursing home has filed a notice of appeal.
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