Tuesday, May 19, 2009

Hospital properties to be auctioned off

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...

8 comments:

Anonymous said...

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?

There will be many area resident deaths without St. Johns - folks will high level emergency needs will die enroute to Elmhurst Hospital or in Elmhurst Hospital waiting behind illegals clogging the hospital seeking care for colds and or maternity issues.

Anonymous said...

Caritas does not have the funds to keep its hospitals open, but can afford the services of Proskauer Rose LLP?

Bloomberg purchased the Maspeth Gas Tanks site when he was running for his second term. Maybe he can save our hospitals as his third-term gift to Queens.

linda said...

yeah right bloomberg is not touching that one. and god knows we don't need more condos going up, then there will be a greater demand for more schools in dist. 24. pray they put emergency care and some retail stores in the location, honestly don't believe another hospital will be going there. i know we need one but they won't and i'm not going to elmhurst, rather go to north shore or LIJ

work4nyc said...

Just what the area needs by SJ Hospital, more development. Look at what happened to the parking lot just north of the Sears mall...it's now a huge construction site for another mall. And now it sounds like Home Depot is going to back out of being a tenant there. Hmmm, who would ever have thought that a Home Depot surrounded by Lefrak City may not make money? And the high rise residential building that was supposed to be on top of that mall is now an afterthought. Why would developers want to convert SJ into residential after this? I have an idea, how about another 5 shoe stores. Not enough of those in this few block radius. God forbid someone should put up a bookstore there.

Anonymous said...

Why doesn't the SCA buy it to build the Maspeth High School? At least St. John's is not contaminated. The land is cheap and there is parking for the teachers. Remember, some high school kids drive, so they will have parking too. This alternate site is an ideal solution to the Contaminated Maspeth Restaurant Depot site that will cost millions to de-contaminate. It is also accessible to public transportation. It makes sense to me. What does Mikey Bloomburg think? Oh, I forgot -- he doesn't.

linda said...

lmao, now that would be so damn easy for them, but why would they? bloomass wants to vent the shit into our air and contaminate the children attending the school. vote his ass out come november.....

vote avella he cares for you and your community...

Anonymous said...

Queens does not need more stores, it needs more hospitals to take take of a very overpopulated borough. People are waitng for many hours at already overcrowded hospitals. Wake up and smell the coffee people. Queens needs more hospital beds not malls.

Anonymous said...

Does anyone understand the economics of these closings? I am at a loss to know why our larger population isn't keeping these centers open.

Is it deadbeats who don't pay bills, fraud, better investment opportunities for the capital?

I would love to hear people with medical or hospital administration backgrounds chime in.

This is a holocaust waiting to happen.