Pricey Land Complicates Options For Ailing NYC Hospital

Law360, New York (March 27, 2013, 10:10 PM EDT) -- Sky-high valuations for the real estate on which Brooklyn, N.Y.'s nearly insolvent Long Island College Hospital sits, estimated to be as much as $500 million, are creating a “perverse financial incentive” and complicating legal efforts by labor unions to save it, bankruptcy and other experts said Wednesday.

The comments come as unions, including the New York State Nurses Association and their political allies, have vowed to take legal steps to keep the 155-year-old hospital in Brooklyn's Cobble Hill neighborhood from being shuttered and sold to developers....
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