NYU Langone expects to begin construction on its new medical facility this fall, officials said.
State officials reached an agreement with Fortis Property Group for its $240 million proposal for LICH.
NYU Langone Medical Center will serve as the facility's operator, officials announced.
NYU Langone Medical Center's decision to pull out of the deal leaves the hospital's fate uncertain.
Labor unions said SUNY and the bidder have violated the terms of a court-ordered settlement agreement.
Fortis and NYU Langone Medical Center's proposal will not provide a full-service hospital at the site.
Fortis Property Group and NYU Langone Medical Center are currently negotiating with the state.
The state will immediately begin negotiations with Fortis Property Group and NYU Langone Medical Center.
The hospital will stay open after advocates struck a last-minute deal to maintain services.
The State University of New York agreed to maintain some medical services as negotiations continued.
Judge Johnny Lee Baynes told the top bidders to work together to save LICH's medical services.
The state will begin negotiations with the Peebles Corporation, which did not propose a full hospital.
Brooklyn Health Partners claimed SUNY hadn't acted in good faith during negotiations with the coalitoin.
De Blasio raised concerns on Brooklyn Health Partners' ability to uphold healthcare services at LICH.
Quorum Health was accused of inflating costs for 15 years, among other allegations, court records show.
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