NEW YORK CITY-A vote to sell Long Island College Hospital to a developer who would convert it into a mixed-use medical mall was tabled by the SUNY Board of Trustees.
The SUNY Board tabled the vote to sell the Cobble Hill Campus to Fortis Property Group on Tuesday afternoon. SUNY received seven bids and the winning RFP from Fortis is “in line with appraisals of the site” at $228 million to $278 million, according to Crain's New York Business. However, the bid is far below the hospital's current liabilities of nearly $500 million, says Lora Lefebvre, SUNY's associate vice chancellor for health affairs.
SUNY Downstate has been trying for months to close the Brooklyn hospital. However, a court challenge to the closure has kept the hospital in operation. See story in Crain's New York Business.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.