Flatbush

What ever happened to Caledonian Hospital?

Eye On Real Estate

October 29, 2014 By Lore Croghan Brooklyn Daily Eagle
Remember Caledonian Hospital? It's now an apartment complex called 123 on the Park. Eagle photo by Lore Croghan

Developers Joseph Chetrit and David Bistricer, who are turning the Bossert in Brooklyn Heights back into a luxury hotel, have just made an empty Flatbush hospital building into an apartment house.

An old Caledonian Hospital building at 123 Parkside Ave. is now a luxury rental called 123 on the Park. It has unobstructed views of Prospect Park, a very fine amenity indeed.

(By the way, residents with apartments that face away from the park can gaze upon it from a landscaped, furnished roof deck. Other amenities include a fitness center with a yoga studio and a playroom for kids.)

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Caly, as some Flatbush residents called the hospital, closed in 2003. It had been a neighborhood fixture since its 1910 opening. For a while after its closing, it was replaced with a diagnostic and treatment center.

Fast forward to 2014. The 119 apartments at 123 on the Park are more than 60% rented after just four months on the market, a spokeswoman told Eye on Real Estate. Brokerage aptsandlofts.com exclusively represents the development.

Monthly rents start at $2,250 for a studio, $2,300 for a one-bedroom unit and $3,300 for a two-bedroom home.

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Right next door, there’s a fenced-in vacant lot where a former hospital structure referred to as Building D in city Buildings Department filings has been demolished. That’s where the Chetrit Group and Bistricer’s Clipper Equity plan to construct an eight-story, 133-unit apartment building, agency records indicate.

This second phase of 123 on the Park will also be a rental building that should be ready in approximately 18 months, the spokeswoman said. There were published reports that the project would be a combination of rental apartments and condos, but it’s an all-rental development.

In 2007, the developers paid $15.6 million for the Caledonian site through an LLC, city Finance Department records indicate. It was a U.S. Bankruptcy Court-approved sale. Caledonian’s then-owner, Brooklyn Hospital Center, was in Chapter 11 bankruptcy at the time.

 


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