SUNY votes to close Brooklyn hospital (Crain’s NY Business)

Excerpt:

February 8, 2013 – The State University of New York Board of Trustees voted unanimously Friday to shutter money-losing Long Island College Hospital. But Brooklyn’s hospital crisis and questions about the future of parent organization, SUNY Downstate Medical Center, are far from resolved. The closure, which must first be approved by the state Health Department, could lead to the sale of the five-building campus just south of Atlantic Avenue and west of Hicks Street in Cobble Hill, Brooklyn. SUNY Downstate purchased the complex in 2011. It was worth $143 million. If it were sold today, it could fetch more than $500 million, according to brokers who say it would be most valuable if redeveloped for residential use.

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