NY-Presbyterian stitches up $327M loan for Park Slope facility

The hospital received financing from Bank of New York Mellon

TRD New York /
Apr.April 26, 2017 02:45 PM

2016 approved rendering of hospital expansion at 515 Sixth Street in Brooklyn (Credit: Perkins Eastman via YIMBY)

NewYork-Presbyterian secured $327 million in financing for its new Park Slope facility, city filings show. Bank of New York Mellon provided the loan.

The mortgage filing, dated Jan. 30, entered the public records Wednesday.

The loan follows $29.7 million of tax-exempt bonds, issued by the Build NYC Resource Corporation in 2014. Bank of New York Mellon is the bond trustee, according to Wednesday’s documents.

The existing hospital on Sixth Street, New York Methodist Hospital, merged with NewYork-Presbyterian in December, creating NewYork Presbyterian Brooklyn Methodist Hospital. The inpatient facility sees roughly 42,000 inpatients and 500,000 outpatients annually, according to a press release from NewYork-Presbyterian.

The planned facility will serve as an outpatient care center across from the existing hospital. Demolition of the existing brownstones began in May, Crain’s reported.

New York Methodist had previously reduced the size of the outpatient center by 28,000 square feet in response to a suit brought by Preserve Park Slope, scaling the building down from seven stories to six.

NewYork-Presbyterian did not immediately respond to requests for comment.

The hospital system, the largest in New York City, signed a lease for 500,000 square feet at RXR Realty’s 237 Park Avenue last year.


Related Articles

arrow_forward_ios
With a cooling trade war, stocks perform well, including real estate. (Credit: iStock)

Real estate stocks push up this week as U.S.-China trade tensions ease

416 West 25th Street and Maverick Real Estate Partners principal David Aviram (Credit: Google Maps and LinkedIn)

Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case

Donald Trump with Rep. Emanuel Cleaver II, Rep. Ron Kind and Sen. Cory Booker (Credit: Getty Images, iStock)

Trump’s Opportunity Zone program is under investigation

From left: 172 Madison Avenue, 100 East 53rd Street, Woolworth Tower, 53 West 53rd Street, 615 10th Avenue

Loan wolves: Bankers are stalking developers as debts come due

Pope Francis (Credit: WIkipedia, iStock)

Unholy real estate strategy: Catholic churches shuffle properties to shield billions from sex abuse victims, report says

(Credit: iStock)

Real estate created the Chinese elite. Here’s what happens next

The agreement was signed today at UBC’s New York Council offices in Manhattan by Nathan Blecharczyk, Airbnb co-founder, Chief Strategy Officer, and Frank Spencer, General Vice President of UBC.

Airbnb hammers out partnership with carpenters’ union

160 Imlay Street

Est4te Four gets $74M inventory loan for Red Hook condo

arrow_forward_ios
Loading...