AT LEAST seven suitors are in the running to take over cash-strapped Long Island College Hospital — and conversion plans include possibly selling off the hospital’s prime real estate to fund a nursing home, a much smaller emergency facility, a collection of doctors’ offices or even the restoration of the full hospital.
Details from all seven potential buyers were quietly posted on the website of SUNY Downstate, the state hospital company that is trying to unload the money-losing Cobble Hill medical center.
“The options include everything under the sun. It could be turned into apartments. Or it could be a hospital and everything else in between,” said lawyer Craig Garner, who specializes in hospital mergers but is not involved in the LICH conversion.
Several suitors clearly indicated they would subsidize their plans by selling some if not all of the estimated $1 billion in prime real estate, comprising five buildings and a waterfront parking lot.
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None of the identities of the suitors has been revealed.
Date: July 17, 2013