Chetrit Stitches Up Hospital Buy for $15 Million
Brooklyn Hospital may not have found a cure for its ailing finances, but it recently got a $15.6 million band-aid. That’s the price the Chetrit Group paid for the former Caledonian Hospital on Parkside Avenue, according to public records. The multi-building complex—which fronts Prospect Park—can support a residential development larger than 200,000 square feet. Caledonian was downgraded from a hospital to a health center a few years ago, according to Across the Park. (Non sequitur: We’re not sure exactly what neighborhood this is in, since it’s not exactly Prospect Park South or Prospect Lefferts Gardens, far as we can tell. This just plan ol’ Flatbush?) The property’s high-flying buyer, the Chetrit Group, owns more than 50 commercial and residential buildings across the U.S., including a stake in the Sears Tower. And the firm’s been making significant inroads into Brooklyn lately, with developments planned for two sites in Williamsburg. Given the prime location next to the park and the big footprint, seems like the smart money would be on Chetrit razing Caledonian and building a condo. But, then again, who knows where the smart money is nowadays. GMAP P*Shark
Feb 06, 2012 | 12:32 PM