The Real Deal New York

Brooklyn Health estimate for Cobble Hill hospital way off: suit

Trindade Value Partners exec claims winning bidder wildly miscalculated cost

April 28, 2014 10:09AM

LICH

LICH at 339 Hicks Street

A former member of the Brooklyn Health Partners, which recently won the bid to take over the Long Island College Hospital in Cobble Hill, filed a complaint with the State University of New York.

Derek Oubre of Trindade Value Partners accused Brooklyn Health Partners of miscalculating the cost of renovations needed at the site, in order to accommodate a facility with up to 400 beds. Architecture firm Francis Cauffman had estimated it would cost about $800 million to build a new hospital on the site with 227 beds and ambulatory care services.

If the hospital had 284 beds but no ambulatory care services, the cost would be roughly $618 million.

Brooklyn Health put the price tag of its project at $300 million.

Oubre left the group last month, and submitted his own bid through Trindade Value Partners, Crain’s reported.

Brooklyn Health Partners asked the state to bring in a temporary operator while it gathers the necessary paperwork. But the university said no, citing the settlement that ended the long court battle over the facility and absolved SUNY of any obligation beyond May 22. [Crain's]Mark Maurer

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