Joel Landau

Joel Landau is an American entrepreneur and health care expert. He is the founder of The Allure Group, which specializes in purchasing and improving nursing homes in the United States that are in danger of closing, and AlphaCare company.

For the rabbi, see Joel Landau (rabbi).
Joel Landau
NationalityAmerican
OccupationCo-founder
EmployerAllure Group
WebsiteJoelLandau.com

Early life and education

Landau was born and raised in New York City. He studied at the United Talmudical Academy and graduated in 1999.[1] He belongs to the Satmar Hasidic community.[2]

Allure Group

Landau and his co-founders created The Allure Group to rescue skilled nursing homes that were in desperate need of improvement, and would otherwise face closure. Landau became involved in the nursing home industry after his own family experiences. After attempting to find suitable care for his grandfather, he stated in an interview that he noticed local nursing homes lacked resources to provide quality care. Following this experience, Landau and The Allure Group purchased the bankrupt Victory Memorial Hospital in Bay Ridge, Brooklyn in 2010, and developed the site into what is now known as the Hamilton Park Nursing and Rehabilitation Center.[3]

This early success led Landau to purchase more New York City-based nursing homes and begin to improve the physical plants, staffing and overall state of these facilities. He subsequently purchased others including two Brooklyn-based nursing homes in 2011 and 2012.

Landau and The Allure Group also purchased The Cabs Nursing Home in Brooklyn, New York in early 2015. The four-story, 111-room facility sold for $15.6 million.[4] Later that year, Landau and The Allure Group purchased Rivington House, a non-performing and nearly vacant AIDS/HIV specialty nursing home located on the Lower East Side of Manhattan for $28 million.[5] The deed to the sale included a covenant that prevented the property from being developed like many of the buildings in the same district, stating that the building had to be used for non-profit residential health care.[6] Despite this, the restriction was removed by the city of New York, which allowed Landau to sell the property for $116 million to developers in 2017.[5][7][8] The sale was approved despite Landau owing $6 million in back taxes to the city.[9] The transaction was approved by New York City Deputy Mayor, Tony Shorris without the knowledge of Mayor Bill DeBlasio.[10] After it was determined that plans for Rivington's redevelopment into luxury housing were developed before the sale had closed, an investigation was commenced by the New York Attorneys General.[10] In 2018, Landau agreed to pay $2 million in penalties and charitable donations to local nonprofits in a deal with New York State Attorney General Eric Schneiderman related to the Rivington sale.[11]

Other ventures

AlphaCare

In 2012, Landau co-founded AlphaCare. The concept of the business is to insure and provide community based long term care and support services for high risk elderly individuals who reside in the New York City area.[12] AlphaCare was one of 25 businesses with a state license to provide care to Medicare dual eligible citizens.[12] By 2017, AlphaCare had changed to become a one product provider and required individuals to have Medicaid and not Medicare as they did previously.[13] He is a member of the Forbes New York Business Council and occasionally writes for the magazine.[14]

References
  1. "Joel Landau". U.S. Green Building Council.
  2. Nathan-Kazis, Josh (April 1, 2016). "Hasidic Businessman Who Flipped AIDS Home Part of Sect With Cozy Ties to Mayor Bill de Blasio". Jewish Daily Forward.
  3. McGoldrick, Meaghan (December 30, 2016). "Possible partnership between Northwell and Maimonides in the works for Bay Ridge". Brooklyn Reporter.
  4. Doles, Kyna. "Here's what the $10M-$20M NYC investment sales market looked like last week". The Real Deal.
  5. "Appendices for Examination of the City's Removal of the Deed Restriction at 45 Rivington Street in Manhattan". New York City Department of Investigation. July 2016.
  6. Goodman, David (March 30, 2016). "How New York Allowed Gentrification for $16 Million". The New York Times.
  7. Stringer, Scott (July 14, 2016). "De Blasio faults policy, not staff, for Rivington deal". Politico.
  8. Goodman, David (July 14, 2016). "New York Officials Were Warned About Lifting Nursing Home's Deed Limits, Report Says". The New York Times.
  9. Klein, Melissa; Short, Aaron; Vincent, Isabel (April 10, 2016). "Paterson was paid consultant to firm that flipped nursing home". The New York Post.
  10. Short, Aaron (April 3, 2016). "De Blasio slams nursing home sale — but doesn't punish aides". The New York Post.
  11. LaMantia, Jonathan (January 16, 2018). "Nursing home chain looks to future after scandal". Crain's New York.
  12. "The Costly Care of the Few". Oxeon.
  13. Bernstein, Nina (May 8, 2014). "Medicaid Shift Fuels Rush for Profitable Clients". The New York Times.
  14. "Joel Landau - Forbes New York Business Council Member". Forbes. Retrieved August 7, 2019.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.