Tuesday, June 17, 2014

Parkway back on the block

From the Times Ledger:

The former Parkway Hospital property is heading back to the auction block.

The mortgage on the 56,400-square-foot lot in Forest Hills is scheduled to be offered up to bidders at a July 11 foreclosure auction in Queens Supreme Civil Court, according to the real estate website propertyshark.com.

The company that entered the winning $22.2 million bid during a January auction struggled to come up with the financing for months. As a result, the closing date for the 70-35 113th St. lot was rescheduled several times.

The group behind the bid, 70-35 113th St. Limited Liability Co., could not be reached for comment. Its officers have not been identified.

The company that holds the mortgage on the shuttered hospital, Auberge Grand Central LLC, had discussed transforming it into condominiums via a partnership with the Manhattan-based real estate firm Jasper Venture Group LLC.

It was unclear whether the partnership intends to bid at the upcoming auction.

Jasper Venture Group referred requests for comment to Auberge Grand Central, which did not respond to inquiries before deadline.

The court-appointed foreclosure referee Joseph Risi previously said Auberge Grand Central would need to go back to court and get a stay before formally pursuing development plans.

Risi did not respond to requests for comment.

So much for the condos.


Anonymous said...

Too big for a homeless shelter. Or is it? Hmmmmm.

Anonymous said...

This hospital is right next to the elementary school PS 196. The school just completed the construction of a new wing about a year ago while the hospital was empty. i did not understand they they just did not expand into the hospital by modifying the building rather than building a new wing from scratch. Now there is an ugly empty derelict building next to the school. That hospital is so out of place in that neighborhood, which is mostly residential and very cramped with a narrow one way street. The best thing that happened to that neighborhood is when the hospital shut down. The idea of a condo is not bad, however, I don;t see people paying a lot of money for that location as it is a schlepp to get to the subway. If they keep the building, than I see it becoming an assisted living facility, lots of old folks in queens. Otherwise, they should tear it down and sell lots for single family homes. The latter would make a lot of sense, so probably won't happen.Americans seem to have a knack for mismanaging their cities ….sheesh.

Anonymous said...

What schlep to the train? There's a stop at QB and 75th Ave with an entrance near Ascan.

It's a nice location for anything - it's quiet back there on the service road to the GCP. There is no way that FH will allow a homeless shelter in that nice neighborhood.

It's already ghettoized down by the shopping area on 108th St. with the angle parking - just some junky boarded-up dollar stores and third-rate food establishments.

Queens desperately needs hospitals though.

Anonymous said...

If a condo is developed on the Parkway site, it will sell nicely, just as Skyview Parc sold well despite its proximity to Willets Point and the nearby airplane noise.

These days, you can build a condo anywhere in NYC (even in East New York or South Jamaica) and it will sell well because there are suckers desperate to live in our brand-name city and pay for it.