Jan 27

Life for Closed Hospitals: Condos

Life for Closed Hospitals: Condos

Life for Closed Hospitals: Condos

Life for Closed Hospitals: Condos

 

As hospitals across the country close down, developers are seeing unexpected new purpose for these now vacant spaces. Developers in New York City have increasingly reenvisioned shutdown hospitals as luxury condominiums – believing they can make “hospital buildings hospitable for full-time residents,” The New York Times reports.

For example, a former maternity ward on Second Avenue in Manhattan has morphed into Rutherford Place, a rental-turning-condo building. Two-bedroom apartments there recently listed for as much as $2.3 million.

Gramercy Square, a $350 million complex, is planned for the former site of the Cabrini Medical Center, which closed in 2008. A condo village is being constructed on the property, which has included tearing down some of the original buildings while adapting others and building new on the 1.4-acre site. About 223 apartments are planned among four residential structures in the space.

“I found it very interesting and very rewarding to take something like that and make it work,” David Bistricer, the founder of Clipper Equity, one of the developers, told The New York Times.

Developers are redesigning towers that once housed patient rooms, operating rooms, and a psychiatric ward. Cabrini’s emergency room is now being reenvisioned as a place for gardens.

“From the standpoint of an architectural project, it was extraordinary, the range of disciplines involved,” says Jeremy Singer, the managing principal of Woods Bagot’s New York office.

The apartments are to run around $2,200 a square foot or about $995,000 for a studio and up to $33 million for a penthouse. Sales started this winter.

The project is slated to open by the end of this year.

Source: “From Hospital to Condo,” The New York Times (Jan. 22, 2016)

admin

For all of your Real Estate needs, place yourself in the competent hands of a career Realtor who is a Philadelphia native and Delaware County resident. Skilled, smart and enthusiastic about his work and his life, Anthony DiDonato has the appealing combination of business sense and people skills gives him an edge in an industry that demands both.

Educated at Drexel University with a dual major in accounting and finance and minors in management and psychology Anthony DiDonato offers over 25 years of experience in the real estate industry. He has been a real estate investor since 1985 and a member of H.A.P.C.O. (Landlord Association). He became a licensed Realtor in 1992 and a member of the Local, Pennsylvania and National Associations of Realtors. Anthony DiDonato is also a member of the Computerized Multiple Listings, (MLS) and Internet Marketing Programs. In 1997 Anthony DiDonato became Century 21 All-Elite, Inc. Corporate Secretary.

Anthony DiDonato believes in taking his profession to the highest level of quality service. He is known for finding that “perfect” property in Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania for his buyers and helping his sellers prepare their properties so they sell quickly and efficiently.

When it comes time to negotiate the terms of a contract, Anthony DiDonato has the knowledge, experience, and professionalism applied to meeting – or exceeding – his clients’ expectations. His service to his clients is second to none. His honesty and integrity have been his claim to fame.

For Superior Real Estate Representation in the Delaware Valley, Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania… call Anthony DiDonato.