Closed Queens Hospitals hit Auction Block
Oct 13, 2009 | 1726 views | 0 0 comments | 36 36 recommendations | email to a friend | print
Take out your checkbooks - the bidding for two closed Queens hospitals starts at a mere $18 million.

St. John’s and Mary Immaculate Hospitals will be auctioned off October 16, eight months after Caritas Healthcare, the company that operated the facilities, filed for Chapter 11 bankruptcy.

The starting bid for St. John’s in Elmhurst is $13 million. The opening bid for Mary Immaculate in Jamaica is a more modest $4.35 million.

The closed Queens hospitals were purchased for a reported $40 million from Saint Vincent Catholic Medical Center, but could fetch a much lower price at Thursday's auction.

Larry Weiss, the vice president of the firm auctioning off the properties for Caritas, said he was confident the auction would go well.

“We think there will be a lot of interest,” Weiss said in a statement. “This is an opportunity to acquire a great asset in the middle of very strong markets.”

The St. John’s facility has 257,500 square feet, and comes with a 86,400-square-foot garage.

Mary Immaculate is slightly larger, at 301,499 square feet, and comes with a 99,420-square-foot garage and valuable medical equipment.

The buildings are currently zoned for residential and/or commercial use. The new owners will not be required to reopen the hospitals or build new ones on the site.

Weiss said several parties are interested in the sites. (Daniel Bush)

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