Previously, we reported that the Caledonian Health Center facility was for sale. We learned this morning that Caledonian has received a tentative bid. Says Crain's:
Bankrupt Brooklyn Hospital has a tentative buyer for its Caledonian campus, with an auction set to attract possible higher bids. The hospital signed a purchase agreement for $15 million with an investor group, 123 Parkside LLC. Sam Lehrfeld, the hospital’s president, says that while he doesn’t know the purchaser’s plans for the site, which overlooks Prospect Park, “I’d like to see housing there, something the community will be happy with.” The site will not be used for another hospital or clinic.
In our opinion, this is great news. Caledonian is an awesome location for housing, being on Prospect Park and very close to the subway. As we previously reported, zoning allows for 220,000 square feet of residential space.
We also hope that news of a slew of new condos speeds the rate at which new amenities appear in PLG.
Thanks Kendall!
$15 mil seems very cheap for this prime location. I wonder if the fix was in.
Posted by: Gary | May 31, 2007 at 09:51 AM
Yes, VERY cheap. I don't think Brooklyn Hospital is in the position to negotiate, though. Their financial condition is beyond miserable.
Posted by: PLG rez | May 31, 2007 at 10:43 AM
probably some significant asbestos here.
Posted by: noq | May 31, 2007 at 12:29 PM
Nothing Tony S and his crew from Joisy couldn't handle...
Posted by: anon | May 31, 2007 at 03:41 PM
the buildings must come down right? there doesn't seem to be be any way they would be able to use the property as is.
if it does come down, wouldn't it have to be condos/apartments? and if so i wonder how tall it would be...
Posted by: richard blakeley | June 03, 2007 at 06:41 PM
somethin's going on here....15 mil? way low, no? who's 123 Parkside LLC?
Posted by: ben | June 18, 2007 at 12:18 AM