Long Island College Hospital

Cobble Hill, condos, New Developments

5 River Park; image credit: Williams New York.

Sales began this week at 5 River Park, the first new tower to rise in the River Park project, the seven-building masterplan redevelopment of the former Long Island College Hospital Site. The new building, whose address is 347 Henry Street, is the first to hit the market in phase two of a masterplan comprised of the project’s first three new towers, which in turn are part of Fortis Property Group‘s $240 million plan to transform the Cobble Hill facility into market-rate condos and a clinic.

Amenities, interiors this way

Real Estate Wire

111 West 57th Street, SHoP Architects, skinniest tower in the world, NYC supertalls, tallest buildings, 432 Park Avenue
  • JFK Airport will receive $8.9 million in federal funds for runway and airfield upgrades. [Crain’s]
  • Fortis Property Group is making progress with its controversial plan to bring four apartment towers to the former site of the Long Island College Hospital in Cobble Hill. [Curbed]
  • With Manhattan skyscrapers getting taller and thinner, developers are installing giant counter weights at the towers’ apex to keep them from blowing in the wind. [NYT]
  • To appease local UES residents, the city agreed to build a second ramp for the Marine Transfer Station; it’ll cost an additional $30 million. [DNAinfo]
  • 3 World Trade Center has reached half of its 80-story height. [Curbed]
  • FAO Schwarz‘s deal to move into a new home at 1633 Broadway has fallen through. [CO]

Images: Supertall, super-skinny tower 111 West 57th Street (L); FAO Schwarz (R)

New Developments

Long Island College Hospital exterior

Perhaps the third time will be the charm — after multiple bids, the State University of New York may have found a buyer for its cash-strapped Long Island College Hospital. In the latest attempt to move redevelopment plans forward, Fortis Property Group has jumped in with a new deal: It’ll pay $240 million to transform the Cobble Hill facility into market-rate condos and a clinic.

Details on the deal straight ahead

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