A federal bankruptcy judge has approved the sale of shuttered St. Vincent's Hospital Manhattan to a Rudin Development and Manhasset, N.Y.-based North Shore-Long Island Jewish Health System for $260 million, according to a New York Times news report.
St. Vincent's closed last April after it failed to find a buyer. The hospital owes approximately $1 billion in debt, according to the report.
Under the redevelopment deal, Rudin will build apartments and townhouses on the east part of the hospital campus. North Shore-LIJ will spend $110 million to convert the O'Toole building on the campus into a 24/7 emergency center.
Read the New York Times report on St. Vincent's Hospital Manhattan.
Read more coverage on St. Vincent's Hospital Manhattan:
- Shuttered St. Vincent's Manhattan Will Reopen as Emergency, Ambulatory Surgery Center Operated by North Shore-LIJ
- Shuttered St. Vincent's Hospital Manhattan May be Sold
- Without a Suitor, New York's St. Vincent's to Close
St. Vincent's closed last April after it failed to find a buyer. The hospital owes approximately $1 billion in debt, according to the report.
Under the redevelopment deal, Rudin will build apartments and townhouses on the east part of the hospital campus. North Shore-LIJ will spend $110 million to convert the O'Toole building on the campus into a 24/7 emergency center.
Read the New York Times report on St. Vincent's Hospital Manhattan.
Read more coverage on St. Vincent's Hospital Manhattan:
- Shuttered St. Vincent's Manhattan Will Reopen as Emergency, Ambulatory Surgery Center Operated by North Shore-LIJ
- Shuttered St. Vincent's Hospital Manhattan May be Sold
- Without a Suitor, New York's St. Vincent's to Close