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Carter's View

St. Vincent Catholic Medical Centers announced yesterday that it wanted to hire CB Richard Ellis Inc. as an adviser as it tries to sell its properties in Greenwich Village if a bankruptcy judge allows the move, according to an article by Anemona Hartocollis in today's edition of The New York Times.

The article said that hospital officials said they would ask the United States Bankruptcy Court in Manhattan to approve hiring of the real estate firm later this month.

The property includes eight buildings and is perhaps the most valuable asset of the bankrupt hospital, the article said.

Rudin Management Company had agreed in 2007 to pay the hospital $300 million for the properties on the east side of Seventh Avenue between 11th and 12th Streets and to replace them with apartments and townhouses through a combination of conversions and demolition and new construction, the article said.

The article said that the Rudin organization said yesterday it was still interested in the properties and "reiterated that it would like to see some kind of health facility there."

The article noted that the Rudin proposal had been "contentious in the surrounding community."
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Architecture Critic Carter Horsley Since 1997, Carter B. Horsley has been the editorial director of CityRealty. He began his journalistic career at The New York Times in 1961 where he spent 26 years as a reporter specializing in real estate & architectural news. In 1987, he became the architecture critic and real estate editor of The New York Post.