Cobble Hill hospital operator ends talks with Don Peebles

Negotiations to resume with Fortis Property Group over redevelopment

New York /
May.May 29, 2014 09:00 AM

SUNY Downstate Medical Center officials have decided to end talks with developer Don Peebles over acquisition of the Long Island College Hospital in Cobble Hill.

The two parties failed to agree on who would handle possible environment remediation expensed. They also could not reach an agreement on when SUNY, the medical facility’s current operator, would part ways with it.Prominent African-American development firm the Peebles Corporation had partnered with North Shore-LIJ to spend $260 million on redevelopment of the site, Capital New York reported.

Instead, SUNY plans to resume talks with Fortis Property Group. The board paused a deal in December, hoping that Mayor Bill de Blasio could solve the matter. Fortis’ plan would preserve some health care operations and convert part of the site into high-end condominiums.

Brooklyn Health Partners was the top bidder in a selection process led by SUNY, but was disqualified amid financial concerns, as previously reported. The second-highest bidder was Peebles. [Capital NY]Mark Maurer


Related Articles

arrow_forward_ios
Don and Katrina Peebles with their recently purchased Bath Club unit. (Getty, ONE Sotheby’s International Realty)
Developer Don Peebles downsizes in South Florida
Developer Don Peebles downsizes in South Florida
Daniel Hoeg and Don Peebles (Daniel Hoeg, Gettty, iStock)
Peebles accuses former associate of “anonymous and malicious” smear campaign
Peebles accuses former associate of “anonymous and malicious” smear campaign
Cobble Hill residents are complaining about a sharp whistling noise coming from a luxury condo at 347 Henry Street. (Douglas Elliman, Getty)
A shrill in Cobble Hill: Eerie noise from condo tower haunts locals
A shrill in Cobble Hill: Eerie noise from condo tower haunts locals
Don Peebles and the Bath Club (Getty, Peebles Corp.)
Judge slaps Don Peebles’ Bath Club Entertainment with $1M in sanctions
Judge slaps Don Peebles’ Bath Club Entertainment with $1M in sanctions
Don and Katrina Peebles with their Old Cutler Road home (Getty, The Jills Zeder Group/photography by 1 OAK Studios)
Developer Don Peebles relists Coral Gables estate for $15M
Developer Don Peebles relists Coral Gables estate for $15M
Carroll Gardens and Flatbush in Brooklyn (Photos by Steven Pisano via Flickr; Mrbrklyn via Wikipedia; iStock)
Brooklyn’s most and least expensive neighborhoods
Brooklyn’s most and least expensive neighborhoods
Don Peebles
Don Peebles’ diversity capital call: Developer says push for equal economic opportunity is “not going away”
Don Peebles’ diversity capital call: Developer says push for equal economic opportunity is “not going away”
Don Peebles (Getty, iStock)
Don Peebles looks to deploy capital for $500M diversity fund by year-end
Don Peebles looks to deploy capital for $500M diversity fund by year-end
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...