WESTWOOD, NJ-Pascack Valley Hospital, an acute care facility consisting of multiple buildings on a 20-acre site just 11 miles northwest of the George Washington Bridge, is on the auction block. The institution had filed for Chapter 11 protection in September, but effectively shut down its operations in late November, remaining open through December only to allow people to pick up their medical records.

“The decision to file for Chapter 11 protection was made as the result of several years of significant operating losses and a non-reversible liquidity crisis,” says a hospital spokesman, in a prepared statement. “As the hospital was unsuccessful in finding a strategic partner, it [became] necessary to close the institution’s entire operation.”

The auction process is being conducted for the ownership, which bears the name Pascack Valley Hospital, by Cushman & Wakefield of NJ, East Rutherford, with the latter firm’s Jose Cruz, executive managing director of the its capital markets group, listed in offering materials as the contact. A deadline of noon on Jan. 28 has been set for bids on the property.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.