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.
GOOD DATA POINT
December 30, 2012 – The former isolation hospital in Belleville that later fell into disrepair sold at auction for $3.7 million, Essex County officials said. The highest bidder for the sprawling 200,000-square-foot building — most recently used as the Garden State Cancer Center — was John Mavroudis of Alma Realty, based in Astoria, Queens. The building, commonly called the “SoHo” property, sits on 9 acres at Belleville and Franklin avenues and was recently assessed at $3,739,000, according to the township. Mavroudis, 35, said last week the deal hasn’t been finalized but said Alma Realty has no plans to demolish the historic building.
Link to Full Article: http://www.nj.com/essex/index.ssf/2012/12/essex_county_auctions_off_old.html