Bidders top $48M offer for St. Vincent’s

St. Vincent’s Hospital has received 23 bids for its 555 Sixth Avenue apartment building, with several topping the $48 million offer
from Taconic Investment Partners, sources told Crain’s. St.
Vincent’s filed for bankruptcy in April and will use proceeds from the
sale to pay back its creditors. The 180,000-square-foot building is
near West 15th Street and boasts 178 apartments and a 90-car parking
garage. The sale is being handled by Grubb & Ellis. Experts told
Crain’s that the property could be turned into rental or condo
apartments, but could also appeal to schools or hospitals looking to
house their staff. [Crain’s]