The Brooklyn (N.Y.) HospitalCenter plans to close on a deal to sell a 21-story medical building on its campus for more than $100 million, according to Crain's New York Business.
Bids for the property were due last week, with top offers reaching $115 million, according to the report.
The 150,000-square-foot Maynard Building holds medical offices primarily used by physicians for outpatient visits, as well as apartments for medical staff.
The Brooklyn Hospital Center plans to use the proceeds from the sale to support the development of new facilities on its campus. The 170-year-old Brooklyn Hospital Center — the borough's oldest hospital — recently outlined a 25-year plan to update and build new medical buildings. Its first project includes building a medical building at a new site to replace the Maynard Building.
The buyer of the Maynard Building will be able to build a roughly 300,000-square-foot residential tower in its place after demolishing it.
The Brooklyn Hospital Center plans to continue to lease and remain in the property until 2019. A hospital spokeswoman said the hospital will prioritize potential buyers that propose a development plan "in accordance with the neighborhood and will be a good neighbor," according to the report.