The controversial deal between Mt. Sinai Medical Center and a pair of developers just took a step forward, Lois Weiss reports, as the developers closed on the hospital-owned rental building at 1212 Fifth Avenue. The 16-story pre-war building will be converted to condos around some remaining rent-stabilized tenants, while a new 32-story rental tower (which some neighbors argue will cast shadows over Central Park) will be built using development rights sold by the hospital to fund a new medical center. Got all that? [NYP; previously]
Filed under:
Loading comments...