SUNY Acquires $205M in Prime Real Estate


Although Long Island College Hospital officially became a part of the SUNY Downstate system a couple weeks ago, the state’s purchase of LICH’s sizable real estate holdings didn’t hit public records until Friday. All told, SUNY paid $205,350,000 for 18 separate LICH properties owned by Continuum Health Partners, the bulk of which are in Cobble Hill. The largest acquisitions were of the main LICH buildings at 339-37 Hicks Street ($66,690,000), 328-346 Henry Street ($44,310,000), and 348-352 Henry Street ($29,910,000). SUNY now also controls a bunch of other smaller properties that Continuum owned, like apartment buildings at 43 Columbia Place in the Heights, which cost $2,400,000, and 336 Flatbush Avenue in the Slope, which went for $700,000.
LICH is Resuscitated [Brownstoner]