But hospital and union officials said they would seek to defeat the conversion plan in the Legislature.
Last year, 69 conversion plans were submitted to the state, according to the Attorney General's office.
In the year before the closing, the landlord, who was also the sponsor of the conversion plan, installed new windows.
He called on other major powers to offer similar conversion plans.
The city's department of buildings also must review either conversion plan.
Under the conversion plan, trustees will receive up to $1.75 million in stock, and options on the same amount.
Two years later, in 1948, a similar conversion plan was put forth.
And the reason why is really tied to this conversion plan.
While 83 of the tenants supported the conversion plan, 37 did not.
The questioners ask me for details of this conversion plan.