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Southwark on Reed: 1st Phase of Homes at Ex-Mt. Sinai Site Sold Out

The abandoned hospital is still undergoing demolition

The demolition of Mt. Sinai Hospital is still underway, yet developers of the $40 million development Southwark on Reed have already pre-sold the first two buildings of 14 homes. The second phase of 11 homes are now for sale.

Demolition of the abandoned hospital began in October 2015 and is expected to be complete this summer. The developers—Concordia, D3 Developers, and Resmark Companies—are gradually building out the 95 four-story townhomes as they’re sold, they announced in a press release. The development is expected to be complete in 2018.

The first phase of Southwark on Reed homes first hit the market back in April, with some homes coming with a $619,900 price tag. In general, prices for the 2,300 to 2,900-square-foot homes start in the high $400,000s.

Three furnished home models will be available for touring this September.