Brooklyn Health estimate for Cobble Hill hospital way off: suit

Trindade Value Partners exec claims winning bidder wildly miscalculated cost

TRD New York /
Apr.April 28, 2014 10:09 AM

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┬ásubmitted 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


Related Articles

arrow_forward_ios
Abraham Leser lands $71M loan for SUNY hospital site in Brooklyn

Abraham Leser lands $71M loan for SUNY hospital site in Brooklyn

Fortis projects $221M in sales at tallest planned LICH condo

Fortis projects $221M in sales at tallest planned LICH condo

Fortis looking to finance unsold condos at 1 Seaport and LICH site

Fortis looking to finance unsold condos at 1 Seaport and LICH site

Fortis wants $79M sellout for 25 BK condos

Fortis wants $79M sellout for 25 BK condos

Fortis scores $300M for LICH redevelopment

Fortis scores $300M for LICH redevelopment

The condos are coming: Fortis testing the market for 173 units at LICH site

The condos are coming: Fortis testing the market for 173 units at LICH site

City halts work on LICH building over safety concerns

City halts work on LICH building over safety concerns

Cobble Hill locals railing against LICH demolition noise

Cobble Hill locals railing against LICH demolition noise

arrow_forward_ios