The Harborside, located in Port Washington, is a senior care facility that has recently undergone significant changes due to a major sale and restructuring. Following a period of financial instability and uncertainty, the facility was sold for $86 million, marking a turning point in its history. This transaction provided not only for the facility’s continued operation but also for a partial reimbursement of entrance fees owed to the families of deceased residents. These entrance fees totaled $130 million, and as part of the resolution, $42.5 million was allocated to reimburse families, sourced from the sale of a related Manhattan facility and additional funds set aside by the new ownership.
As a result of the sale, The Harborside’s previously established structure, which included independent living, assisted living, memory care, and skilled nursing, experienced substantial changes. The assisted living and memory care sections, which comprised 26 enriched housing units and 18 memory support beds, as well as 56 skilled nursing beds, were closed, requiring affected residents to relocate by mid-March. While these closures were described as temporary, with intentions expressed to pursue necessary permits to reopen the units in the future, for the present time, the focus shifted to the independent living sector. Residents of independent living were offered the choice to remain, with the model converting from an entrance fee-based structure to rental units. Those who chose to stay could do so with rent protections, including annual increases capped at five percent, and the assurance that their current rates would be honored.
The new owners of The Harborside completed the transition by planning a significant investment in the facility’s future. A $20 million budget was earmarked for renovations and the introduction of expanded services and amenities. The vision is to transform The Harborside into a premier rental senior living community in the region, creating an environment of stability and improved quality of life for its residents. The community’s management now aims to bring forth a new era for The Harborside, built on the foundation of reliability, enhanced residential offerings, and a commitment to serving seniors in their independent years.
Throughout this transition, independent living residents have been assured continuity and stability at The Harborside. The conversion from entrance fee admissions to a strictly rental model removes the financial risks that were previously encountered by residents and their families. With this new direction, The Harborside aspires to become a benchmark for excellence in senior living on Long Island, with improvements in both infrastructure and the overall living experience. The commitment to invest in upgrades and to introduce innovative services reflects a forward-looking approach, promising a brighter and more secure future for the community’s senior residents.