More than a year after the Abbott Terrace Health Center in Waterbury closed amid regulatory scrutiny, the 205-bed nursing home property has been put on the market.
Meanwhile, a New Jersey entity that bought a mortgage loan on the property is trying to foreclose on it.
The nursing home closed in late 2024 after losing access to Medicaid and Medicare funding over concerns about facility conditions and patient care. Farmington-based Athena Health Care Systems alerted city officials it was laying off 209 staff at the time.
The 93,000-square-foot, four-story building at 44 Abbott Terrace is owned by Waterbury Health Care Centers Associates Limited Partnership, an entity with ties to the Abbott Health Care ownership.
In January, New Jersey-based 44 Waterbury LLC filed a foreclosure lawsuit in Waterbury Superior Court. The company had purchased the mortgage and related loan documents tied to a $10.4 million loan issued by Greystone Funding Co. in 2020.
The plaintiff argues that Waterbury Health Cares Associates, and its affiliated companies, failed to keep up with various conditions of the loan, including making scheduled payments on the debt, maintaining a working health care facility and maintaining the premises, among others.
The complaint seeks foreclosure of the property and legal costs.
The property went on the market last week, at an asking price of $4.75 million.
Kyle Neumann, of Houlihan Lawrence Commercial, said interest has been strong, with multiple showings already scheduled.
“Traction has been very good,” he said.
Neumann said the property could appeal to another health care operator or be converted into multifamily or student housing. Many rooms already include bathrooms, which could ease a residential conversion.
Built in 1986, the property sits on nearly 2 acres just north of the University of Connecticut’s downtown Waterbury campus, near downtown amenities, two hospitals and with access to Route 8 and Interstate 84.
