The parent company of the hospital announced yesterday that it would seek approval from a bankruptcy judge to hire CB Richard Ellis to sell its Manhattan campus.
While the current value of the buildings is uncertain, a management company offered $300 million for the property’s eight buildings in 2007. The firm planned to develop townhouses and apartments at the facility, allowing St. Vincent to open a new facility across the street. The management company, Rudin Management Company, says it is still interested in the property, according to the report.
Such a sale could be controversial in the community, as some contend that a hospital should be developed in the now-shuttered facility.
Read the New York Times report on St. Vincent’s Hospital Manhattan.
Read more coverage on St. Vincent’s Hospital Manhattan:
– Former St. Vincent’s Employees Sue Over Executive Salaries, Outings Following Hospital Closure
– St. Vincent’s Hospital Manhattan Selling Real Estate in Wake of Bankruptcy
– St. Vincent’s Hospital Manhattan Files Bankruptcy Petition
– Without a Suitor, New York’s St. Vincent’s to Close
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