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

Firm bought St. Vincent’s property in 2007; had filed plans for resi conversion

New York /
Jun.June 24, 2014 01:45 PM

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.

Related Articles

arrow_forward_ios
Joseph Chetrit with 427 and 459 (left) Broadway (Getty, Beyond My Ken/Wikimedia)
Chetrit Group falls behind on Soho portfolio mortgage
Chetrit Group falls behind on Soho portfolio mortgage
Joseph Chetrit, Jordan Slone (Getty, NADLAN)
Harbor buys nearly 5,500-unit portfolio from Chetrit for $390M
Harbor buys nearly 5,500-unit portfolio from Chetrit for $390M
315 West 35th Street with Isaac Chetrit and DJ Dashti (Google Maps, Linkedin, iStock)
Chetrit to open flex-office location near Penn Station
Chetrit to open flex-office location near Penn Station
261 Madison Avenue and 205 East 42nd Street are among the closed locations. (Sapir, Durst, WeWork)
WeWork dumps several Manhattan locations
WeWork dumps several Manhattan locations
From left:  Joseph Chetrit, 404 Fifth Avenue and WeWork CEO Sandeep Mathrani (Photos via Wikipedia Commons; Google Maps)
WeWork battles Chetrit Group over Midtown lease
WeWork battles Chetrit Group over Midtown lease
Joseph Chetrit and 49 Chambers (Getty, 49 Chambers)
Chetrit lands $90M inventory loans for Tribeca condo conversion
Chetrit lands $90M inventory loans for Tribeca condo conversion
Sharif El-Gamal, Joseph Chetrit and 1384 Broadway (Getty; Google Maps)
Chetrit Group sues Sharif El-Gamal for unpaid rent
Chetrit Group sues Sharif El-Gamal for unpaid rent
2870 Ocean Avenue and Isaac Chetrit, and 936 Home Street (Google Maps) 
Chetrit family’s dev site buy tops weekly mid-market sales
Chetrit family’s dev site buy tops weekly mid-market sales
arrow_forward_ios

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

Loading...