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March 31, 2020

State buys troubled nursing home in Seattle to free up hospital beds for COVID-19 patients

  • The facility will be for patients who have tested negative for the virus but need other care.
  • By BRIAN MILLER
    Real Estate Editor

    The Paramount Rehabilitation and Nursing facility at 2611 S. Dearborn St. has sold for $13 million, according to King County records.

    The seller, out of county-ordered receivership, was LJM Holdings LLC, which acquired the property in 2016 for $8 million.

    The buyer was the state Department of Social and Health Services. DSHS says the facility will be used to care for patients who've tested negative for COVID-19.

    The agency said, “The goal is to free up beds in hospitals during the crisis by finding patients who are currently in hospitals, but could receive the same level of care in this nursing home. We are trying to find a contractor to run the facility and hope to open by the end of April.”

    Again: It won't be a quarantine facility for those infected with the coronavirus.

    DSHS says there will be about 100 future job openings in nursing, food services, building maintenance and administration.

    Paramount, of New York, was cited last fall last fall as one of the 50 worst nursing homes in the nation by the U.S. Department of Health and Human Services, as KING 5 reported last month. That was shortly before the facility closed. It was previously fined in excess of $300,000 by state and federal regulators.

    NBC reported early this month that the federal Centers for Medicare and Medicaid Services had placed Paramount on a special watch list.

    Developed in 1963, the three-story building has 66,400 square feet, plus surface parking. County records describe it as a 165-bed facility.

    The nominal sales price was $13.5 million, less a $500,000 personal property deduction. The deal was worth about $196 per square foot for the building.

    However, the property, which mostly faces Martin Luther King Jr. Way South, also includes 13,900 square feet of vacant land, south of the Paramount building. That parking lot is south of South Charles Street, which dead-ends at MLK.


     


    Brian Miller can be reached by email at brian.miller@djc.com or by phone at (206) 219-6517.



    
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