Park Slope Assisted Living Facility Planned $76 Million Sale to Investment Firm

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Manhattan investment firm Sugar Hill Capital agreed to buy 1 Prospect Park West, the assisted living facility in Park Slope, for $76,000,000 in January and is now suing the owner for not forcing out elderly tenants fast enough, according to The Brooklyn Paper.

The senior home is embroiled in lawsuits related to the closure and prior lawsuits alleging poor treatment and operating without a license. The owner bought the property, which sits in a prime spot in Park Slope overlooking Prospect Park, for $40,000,000 in 2006.

An attorney for the wrongful death suit concerning Slave Theater owner Judge John Phillips accused the owner of trying to keep Sugar Hill’s $7,000,000 deposit and sell to someone else. Most recently the assisted living facility has been accused of violating a court order to provide services to remaining residents.

Prospect Park Residence Selling for $76 Million [BK Paper]
1 Prospect Park West Coverage [Brownstoner]
Photo by Nicholas Strini for PropertyShark

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