NEW YORK CITY—MCL Cos. is straying from its Chicago home to construct a 27-story tower and convert a vacant hospital building into a condominium at 455 Central Park West here. The $200-million project will have 97 units in the mid-rise and 19 in the existing building. Built in 1886 in the style of a French chateau, for a time the hospital housed the organization that became the Sloan-Kettering Cancer Center and from the ’50s to the ’70s it was a nursing home. The sale price wasn’t disclosed, but sources pegged it at roughly $20 million.

“Like the hospital, that part of Manhattan has been neglected for a long time,” says MCL vice president Kevin Augustyn. “But now it’s attracting a lot of attention. We prefer to do redevelopment projects in gentrifying neighborhoods, and Central Park West is a perfect example of that.”

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 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 now!

  • Free unlimited access to'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 and

Already have an account? Sign In Now
Join GlobeSt

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