Rockrose Development has agreed buy the now vacant former Long Island College Hospital in Brooklyn for $100 million.
Traded reported the deal for the site that includes 363 Hicks Street, 365 Hicks Street, 340 Henry Street and 97 Amity Street. The property, in the Cobble Hill neighborhood, spans a total of 80,800 square feet.
The former hospital has been closed since 2014 after losing money for years, The Real Deal previously reported. That same year, Fortis struck a deal to buy the site for $240 million from the State University of New York, planning a redevelopment that would include townhouses, six residential buildings and a medical center. However, the deal never fell through as the two sides were "arguing over money," with SUNY suing Fortis for failing to close the deal, according to The Real Deal.
Now, 11 years later, it's unclear what the plans for Rockrose are at the site.
Once the closing costs are incurred, SUNY is set to snag almost $98 million from the deal, according to Bisnow.
Rockrose in New York and Washington, D.C., has purchased, repositioned or developed roughly 15,000 apartments and almost six million square feet of office space since its founding in 1970. Its New York City apartment rentals are located in Long Island City and Manhattan.
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