St. Vincent’s closed last April after it failed to find a buyer. The hospital owes approximately $1 billion in debt, according to the report.
Under the redevelopment deal, Rudin will build apartments and townhouses on the east part of the hospital campus. North Shore-LIJ will spend $110 million to convert the O’Toole building on the campus into a 24/7 emergency center.
Read the New York Times report on St. Vincent’s Hospital Manhattan.
Read more coverage on St. Vincent’s Hospital Manhattan:
– Shuttered St. Vincent’s Hospital Manhattan May be Sold
– Without a Suitor, New York’s St. Vincent’s to Close
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