The pending sale includes the 263,000-sf, six-story mainhospital building on East 29th St., a four-story parking garage,the single-story Bayonne Medical Foundation building on Avenue Eand a 7,400-sf financial services building on East 29th. There isalso a piece of vacant land on Avenue E.

"This action will create a financially stronger institution andenable the hospital to operate on a normal basis," said BMC actingpresident and CEO Daniel Kane in a prepared statement when theinstitution filed for Chapter 11. "Our board of directorsdetermined that this filing is necessary and represents thehospital's best opportunity to continue."

But the property quickly began to draw offers, including the onecurrently on the table from IJKG. That offer represents asignificant upgrade from a previous one from the same group forless than half the $41.6 million, which combines cash and non-cashconsiderations. The earlier offer was declined.