Bidder for failing hospital backed off med center project: report

Fortis backed out of deal for bankrupt facility in Bayonne, creditors say

TRD NEW YORK /
Mar.March 18, 2014 05:20 PM

Fortis Property Group, a development firm vying for control of the Long Island College Hospital in Cobble Hill, once backed out of redeveloping another failing New Jersey hospital.

Fortis, one of several potential buyers of the hospital, made a last-minute decision not to purchase the bankrupt Bayonne Medical Center in 2007 and instead pursued a redevelopment at an abandoned military terminal, the New York Times reported. The switch came after an intermediary signed a $22.5 million agreement for the property in the company’s name.

The firm claimed it didn’t authorize the buy, but the Bayonne facility’s creditors said Fortis was only interested in the property as part of a hidden agenda to buy the terminal, the Times said.

Fortis is offering $185 million to $230 million to the Cobble Hill hospital at 339 Hicks Street in order to build both affordable and market-rate housing, and an independent emergency room. The firm has not said if it would change its plans to include a full-service facility, even though the owner, the State University of New York, prefers bidders that propose to keep the hospital.

SUNY told the Times it was not familiar with Fortis’ history, and would likely consider it down the road. [NYT]Angela Hunt


Related Articles

arrow_forward_ios
Renovations plans for the BQE would give nearby real estate a big boost, sources say. (Credit: Getty Images)

BQE project would yield Brooklyn real estate boon: locals

31 Schermerhorn Street and 234 Clinton Street in Brooklyn (Credit: Google Maps, StreetEasy) 

Another Cobble Hill townhouse is Brooklyn’s priciest contract of the week

355 Henry Street

Cobble Hill townhouse was Brooklyn’s priciest contract last week

166 Amity Street and 210 Pacific Street in Brooklyn (Credit: StreetEasy)

Cobble Hill townhouse is again priciest Brooklyn contract

94A Amity St and 35 Prospect Park West (Credit: StreetEasy)

Cobble Hill townhouse was priciest Brooklyn contract last week

From left: One Seaport, Gramercy Square, 75 First Avenue and former Pizzarotti CEO Rance McFarland (Credit: Rendering courtesy of Goldstein Hill & West / Fortis Property Group; VUW Studio; Pizzarotti; GlobeSt)

Pizzarotti had a blockbuster NYC entrance. But did the construction company fly too close to the sun?

161 Maiden Lane and Fortis Property Group CEO Jonathan Landau (Credit: Google Maps and Fortis)

Fortis blames contractor Pizzarotti for leaning Seaport tower

Leaning Tower of Pizzarotti? Contractor sues Fortis over alignment issues at Seaport project

Leaning Tower of Pizzarotti? Contractor sues Fortis over alignment issues at Seaport project

arrow_forward_ios
Loading...