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Land Swaps

The long-planned Upper West Side land swap between Jewish Home Lifecare and the Chetrit Group-Stellar Management team has finally closed. Jewish Home Lifecare will receive $35 million and property on 97th Street between Amsterdam and Columbus (not on 100th Street as previously planned), on which it will build a new 24-story nursing home. The Stellar-Chetrit partnership gets Jewish Home Lifecare's old site on 106th Street between Amsterdam and Columbus and another building on West 105th Street. We don't know yet what Stellar and Chetrit will build on the spot, and they won't start whatever it is until the Jewish Home building is done in 2017. [WSJ; previously]