New York Business Journal, June 17, 2014

SUNY has finally reached a deal to sell the Long Island College Hospital complex to Fortis Property Group, a developer that plans to main some medical services at the Cobble Hill site but mostly turn the valuable land into luxury housing. Never say never in this 16-month hospital closure saga, but the deal — combined with a judge's ruling against a last-ditch effort to block the sale on Friday — seemingly paves the way for SUNY to finally divest the money-losing hospital. Along with its partners N.Y.U. Langone Medical Center and Lutheran Medical Center, Fortis will operate an emergency department with observational beds at the hospital, and has also taken steps toward regulatory approval for an ambulatory surgery center and neighborhood clinic.

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