LICH Liquidation Underway
Six months after putting two of its flagship buildings on the market, Long Island College Hospital continued to pare down its real estate portfolio, putting up another eight smaller buildings for sale last week. First reported in an unlinkable Crain’s article, the item was picked up by a blog called LICH Watch and then Gowanus…
Six months after putting two of its flagship buildings on the market, Long Island College Hospital continued to pare down its real estate portfolio, putting up another eight smaller buildings for sale last week. First reported in an unlinkable Crain’s article, the item was picked up by a blog called LICH Watch and then Gowanus Lounge. (The broker, Grubb & Ellis, has a completely useless website.) We managed to get our hands on a copy of the set-up; you can see it here. Here are the properties that are reportedly on the market on a cash-only basis: 74, 76-78, 82 and 86 Amity Street (at left, below); 113 Congress Street; 43 Columbia Place (at right, below); 385-389 Hicks Street. There are no asking prices provided. Anyone know what the asking prices for any of these are?
LICH Real Estate Up for Sale [LICH Watch via GL] GMAP
Cobble Hill Wants LICH Hospital, Not Condos [Brownstoner]
LICH Selling Off More Cobble Hill Buildings [Brownstoner]
Absolutely a case of intentional neglect. And those cats DO have it made. And you can’t hear the BQE on Henry.
easy there hannible – it’s already landmarked – both congress street buildings in this discussion. and far enough away from the bqe you probably can’t even hear it, let alone feel it.
as far as that henry/congress eye sore – it’s almost as if the owner is purposely letting it go to waste.
hey – at least there’s about 20+ cats that get to live in a nicely located brownstone and carriage house. i’m jealous of them.
Oh yeah landmark building! Nothing says brownstone like being feet away from the BQE. You really get that Brooklyn brownstone feeling eveytime a truck hits a pot-hole.
what about options to force him to do something before it falls down? Any ideas or is it a lost cause? I assume it’s a landmarked building.
Cetus….corner of Congress and Henry is owned by the slum lord who lives/owns a couple of doors down on Henry (and who parks his Land Rover in the driveway of the carriage house). I hear he’s fighting with his daddy over the property.
wtf is up with that building ont the corner of Congress and Henry? I always assumed it was a LICH building that they were just letting fall apart — I now hear that someone bought in back in 2001 along with the adjoining carraige house, put up the scaffolding on Congress, West of Henry and then did nothing. Is there anyway to force him to sell it or repair it? It’s’ a shame to watch these nice buildings fall apart…
Oh yes their value will go up.. eventually. But it will go up from 10 not from a million. There is money for the long term investor not the flipper and speculator. Wonder if they will get Cocorean to do the brokering, they are soo good at sugar coating low valued homes and turning them into balloon lofts.
If only the proceeds were to be used to settle LICH debt and not pad the pockets of Continuum Health Partners.
Well, Brooklynnative, as we learned yesterday in the HOTD, there is ONE other factor. Brooklyn brownstone prices will fall if there has been a big fugly 8 story brick building put up across the street. There needs to be an uninterrupted continuum of brownstone for the relationship to hold.
I really think you’re on to something here.