From the Daily News:
Two shuttered Queens hospitals are on the auction block - and could fetch more than $40 million, Queens News has learned.
The properties, which once housed Mary Immaculate Hospital in Jamaica and St. John's Queens Hospital in Elmhurst, hit the market May 6 - some two months after being closed following the bankruptcy of Caritas Health Care.
A broker with an exclusive listing for the now-vacant hospitals said a request for bids was sent to thousands of developers, investors and other potential buyers. Sealed bids are due June 15.
The two hospitals once had 400 combined beds. Both sit on large lots and have parking garages. Both properties are zoned for residential use, creating the possibility that one or both could soon give way to large-scale residential developments.
Attorney Jeffrey Levitan of Proskauer Rose LLP, representing Caritas in the bankruptcy proceeding, said the mortgage debt on the properties is $37.5 million.
Donovan, who sold St. Joseph's Hospital in Kew Gardens Hills for approximately $10 million in 2005, said St. John's is a prime site for mixed-use redevelopment because it includes a commercial zoning component and fronts on Queens Blvd.
Why doesn't the City buy them and hold onto them until the end of the economic crisis when other hospitals can take them over? Or build schools on the properties? Is the City really going to allow this relatively cheap land to be taken by a developer to build more junk in a prime location along Queens Blvd? (Just one of the sites costs the same amount as Helen Marshall's glass atrium at Borough Hall.) Maybe our philanthropist mayor can buy them instead of wasting money to run for his illegal third term...