Gilman Hall was sold last year to CIM Group, who says there is currently no plan to turn the building into a facility for the homeless. (Photo via Google Maps)
By Sabina Mollot
Gilman Hall, the former residence for residents of Mount Sinai Beth Israel that was sold last year to a California developer, is being eyed as a site of a future shelter.
Word that the city was mulling using the now vacant property to temporarily house women and children reached Community Board Six last Thursday.
Asked about this, Molly Hollister, CB6 chair, and Carin van der Donk, chair of CB6’s Housing, Homeless, and Human Rights Committee issued the following statement to Town & Village:
“We have been notified by our elected officials that Gilman Hall at East 17th Street and 1st Avenue is currently being assessed as a possible shelter or temporary housing facility for women and children by the New York City Department of Homeless Services. There is no immediate timeline for a final decision for the site.
CIM group is the owner of the First Avenue property, which previously housed four small buildings. (Photo by Sabina Mollot)
By Sabina Mollot
Los Angeles-based real estate investment firm CIM Group appears to be moving along with its plans for the property that used to be the Beth Israel Karpas Health Information Center.
The four small adjoining buildings on First Avenue and 18th Street across from Stuyvesant Town have finally been demolished after undergoing a lengthy asbestos abatement treatment.
Additionally, CIM Group has filed an application with the Department of Buildings to be an eleven-story residential building with some retail space. According to the filing, it will have 48,374 square feet of residential use and 6,966 of commercial (with a total 55,340). Continue reading →
311 First Avenue was included in last year’s sale of Gilman Hall to the CIM Group. (Photo by Sabina Mollot)
By Sabina Mollot
The building that used to house Mount Sinai Beth Israel’s Karpas Health Information Center has been sold and will soon be demolished.
The new owner filed an application to demolish the four-story property at 311 First Avenue and 18th Street, last October, and scaffolding now surrounds the property. There is not yet an application for new development although the razing of the building, which also has nine residential units, was said to be in preparation for an unspecified “plan.”
CIM Group, a Los Angeles-based real estate investment group and private equity firm, through an LLC called 305 First Avenue (NY), bought the property last March for $27.5 million from Mount Sinai, according to Acris records.
Gilman Hall, the building at Beth Israel Medical Center’s First Avenue campus, that was put on the market last summer has sold for $87 million to an owner who plans to turn it into student housing.
Asset manager CIM Group announced on Tuesday that it bought the 146,000-square-foot Gilman Hall Tower and contiguous parcels.
“The Gilman Hall site represents an exceptional opportunity to reposition and modernize a significant property in an exciting location currently experiencing substantial public and private investment,” said Avi Shemesh, co-founder and principal of CIM Group. “While the surrounding neighborhood offers desirable amenities and excellent public transportation that complements a variety of potential uses, we believe the site is particularly well suited for a student housing and educational facility use for which several institutions have expressed interest.”
A spokesperson for CIM said the company wouldn’t be commenting further on the future of the property.