As a Hospital Falls, a Fabled Building Is Saved

New York, NY —

The demise of Saint Vincent's hospital means that at least one part of its real estate portfolio will be saved: the fabled O'Toole building -- a white scalloped 1960s-era low-rise on Seventh Avenue.

The hospital won special dispensation last year to demolish O'Toole, even though it's in a landmarked district. A high rise tower was supposed to go in its place. Landmarks Preservation Commission Chairman Robert Tierney says that dispensation isn't transferable -- the new owner, whoever that is, won't have permission to demolish the building.

The fate of another nine buildings across the street is less clear: If developer Bill Rudin ends up owning them as St. Vincent's had envisioned, he could continue his plan to turn them into a residential development. But it's up to a bankruptcy judge to decide what gets sold off and to whom.

So far, the only building up for sale is a non-descript apartment building a few blocks north, where some of St. Vincent's medical residents and staff live.