The major health care systems are expanding throughout New York City and beyond.
The big news this month was the bankruptcy court’s approval of the $260 million sale of the Saint Vincent Catholic Medical Center in Manhattan to the Rudin family and North Shore-LIJ. They plan to develop the first stand-alone 24-hour emergency and ambulatory surgical facility in the New York metropolitan area.
North Shore-LIJ plans to invest $110 million to renovate and redevelop the O’Toole Building Between 12th And 13th Streets On Seventh Avenue into North Shore-LIJ Center for Comprehensive Care.
Meanwhile, the NYU Langone Medical Center, whose main campus is located on First Avenue between 30th and 34th streets, has undergone strategic expansion over the past three years with the opening of ambulatory care centers in Manhattan, Brooklyn, Queens and Great Neck, LI.
Opening this summer at 84th Street and Third Avenue is the Center for Women’s Health, the newest member of the NYU Langone network of multi-specialty practice for primary care, cardiology, gastroenterology, endocrinology and gynecology.
“These centers give people access to the world class expertise in specialties NYU Langone is known for,” said Andrew Rubin, vice president for clinical affairs at the NYU Langone Medical Center.
NYU Langone has plans underway to establish five to 10 additional ambulatory care centers in the New York metropolitan area.
Last October, Memorial Sloan-Kettering Cancer Center purchased the property formerly known as Cabrini Medical Center, located on East 19th Street in Manhattan. The Cancer Center plans a major renovation of the five-building complex, which will be known as Memorial Sloan Kettering 19th Street. It will serve as an outpatient cancer center used for ambulatory care, expansion of the bone marrow and stem cell transplantation program, and provide a home for increased ambulatory surgery programs.
Last year, the six-story, 142,000-square-foot Vivian and Seymour Milstein Family Heart Center, opened on the campus of the New York Presbyterian Hospital/Columbia University Medical Center. The building is located on Fort Washington Avenue and 165th Street in the Washington Heights neighborhood of Manhattan. The new facility was made possible through a $50 million donation from the family of Vivian and Seymour Milstein.
Construction is progressing for the new Mount Sinai Center for Science and Medicine. The new 11-story building, which is set to open in 2013, will be nearly a half million square feet and provide state-of-the-art medical research and clinical facilities. The building is located on Madison Avenue between 101st and 102nd streets.
Lastly, construction has begun on Weill Cornell Medical College’s new superstructure — a research building on East 69th Street between York and First avenues. When completed in 2014, the 480,000-square-foot building will include 16 program floors and become central to translational research initiatives.
Michael Stoler is a columnist for The Real Deal and host of real estate programs “The Stoler Report” and “Building New York” on CUNY TV and on WEGTV in East Hampton. His radio show, “The Michael Stoler Real Estate Report,” airs on 1010 WINS on Saturdays and Sundays. Stoler is a director at Madison Realty Capital as well as an adjunct professor at NYU Real Estate Institute, and a former contributing editor and columnist for the New York Sun.