The Real Deal New York

Chetrit sells piece of former Midtown hospital site for $41M

Firm bought St. Vincent’s property in 2007; had filed plans for resi conversion
By E.B. Solomont | June 24, 2014 01:45PM

The Chetrit Group unloaded part of its redevelopment project at the former St. Vincent’s Midtown Hospital to an unnamed buyer for $41.4 million, according to property records filed Monday.

Property documents list the buyer of 426-432 West 52nd Street in Hell’s Kitchen as 426 West 52 LLC of 700 Penhorn Avenue in Secaucus, N.J.

The Chetrit Group, headed by brothers Joseph and Meyer Chetrit, partnered with Tessler Developments in 2007 to buy the property — as well as another hospital building at 416 West 52nd Street and a vacant lot between the buildings — for $84.73 million in total.

The Chetrit Group could not immediately provide a comment for this story.

According to plans filed with the Department of Buildings in 2011, the Chetrits intended to convert the two seven-story hospital structures into residential buildings with 215 apartments. The architect for the project was Karl Kischer.

The larger building, at 416 West 52nd Street, had plans for 160 units. The smaller property, at 426 West 52nd Street, was to have 55 units.

In 2012, the Chetrits also filed plans to build a townhouse at 422 West 52nd Street, on the lot between the two hospital buildings, as The Real Deal previously reported. The five-story home would be around 6,200 square feet.