The Real Deal New York

Long Island College Hospital settlement to be finalized today

Agreement sets the stage for new round of bids for troubled facility

February 24, 2014 08:04AM

lich-walden

339 Hicks Street and Jim Walden

Mayor Bill de Blasio offered new details Friday about the revamped RFP process in the search for a developer for the troubled Long Island College Hospital site in Cobble Hill.

The Brooklyn community would receive a 49 percent stake in the panel of officials that would pick a winning bidder, he said. The courts are expected to approve a settlement today that would end litigation from several community groups against the hospital site’s owner, the State University of New York.

Prior to the suit, SUNY officials had been in the final stages of a sales process that turned out bidders including Fortis Property Group, Don Peebles, Brooklyn Hospital and NYU. After the settlement is approved, SUNY has three business days to provide a new request for proposals, and submissions are due 15 business days after that.

Jim Walden, a lawyer at Gibson Dunn & Crutcher who was involved in the settlement talks, told Crain’s that a higher priority will be given to bidders that want to keep a hospital on the site, located at 339 Hicks Street. [Crain's]Mark Maurer

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