st-johns-hospital-conversion

The former St. Johns Hospital Building, at 90-02 Queens Boulevard in Elmhurst, is going residential. Crain’s reports that a group of Asia-based investors and the New York builder Steven Wu paid $55,000,000 for the 260,000-square-foot hospital building and a five-story parking garage across the street. The developers plan to spend another $45,000,000 to convert the building into rentals and medical office space, along with ground-floor retail. Previous owner Jack Gutman sold the building — he purchased it for less than $20,000,000 back in 2009 after Caritas Health Care filed for bankruptcy and closed the facility. He already completed some work on the facility, including interior demolition and new windows.

Former Queens Hospital to Become Residential [Crain’s] GMAP


What's Your Take? Leave a Comment