Midtown-based investment firm Jasper Venture Group plans to convert the vacant Parkway Hospital in Forest Hills, Queens, into condominiums.
The developer will demolish the 70,000-square-foot hospital at 70-35 113th Street and build the condo complex from the ground up. The hospital was expected in March to return to the auction block after the previous successful bidder fell behind on payments. Jasper also wants to construct a building that is bigger than the current hospital.
A company affiliated with 70-35 113th Street LLC won out in a January foreclosure sale with a $22 million bid, and paid the obligatory 10 percent down at the time, as previously reported.
The 70,000-square-foot property was home to the city’s only privately-owned hospital until 2008, when the New York State Commission on Healthcare Facilities mandated its closure. A foreclosure judgment was issued against the property in May of 2013. [Brownstoner] — Mark Maurer