It looks like South Brooklyn will have plenty of new condos, but perhaps a dearth of services. This morning, the board of trustees of the State University of New York (SUNY) voted unanimously to close Long Island College Hospital (LICH) in Cobble Hill. According to DNAinfo, Downstate Medical Center president Dr. John Williams told the board that the hospital “was losing money and draining the entire Downstate system.” Protests ensued at the public hearing from doctors, nurses, and hospital staff. The 200,000-square-foot campus could have a price tag of up to $500 million.

This news comes on the heels of an announcement from Brooklyn Public Library officials that they plan to sell the Brooklyn Heights branch to a developer. The over-extended library is in need of $9 million to renovate the building. According to the Brooklyn Paper, the BPL is hoping a private developer will purchase the 25,000-square-foot property and build a residential building that also houses the library on the ground floor. A number of community members expressed their disapproval at the meeting.

Luckily for interested developers, both LICH and the Brooklyn Heights branch are already zoned for residential. These pending sales, however, are part of a larger trend that is sweeping the city, and making headlines this week—cash-strapped city agencies and institutions are increasingly stressed and looking to relieve their financial woes by selling off properties to private developers.