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The closure only affects inpatient services at the hospital's Greenwich Village location. The hospital currently has 400 inpatient beds.

In a released statement, board chairman Alfred E. Smith IV cited the hospital's ongoing struggle to close an estimated $700 million debt.

"The decision to close St. Vincent’s Hospital Manhattan inpatient services was made only after the board, management and our advisors exhausted every possible alternative," Smith said. "We are deeply saddened that we were unable to come up with a viable plan to save the inpatient services at the hospital that has proudly served Manhattan’s West Side and Downtown for 160 years."

While no timeline has been announced, hospital officials say patients who are currently at the facility will be discharged or transferred to nearby nonaffiliated hospitals.

Additionally, elective surgeries will continue on a case by case basis, though it is believed all will cease after April 14, 2010.

Outpatient services, including its cancer and HIV centers will remain open while a new operator is sought for those programs.

Tuesday's vote comes after a six-month long effort to save the hospital, including several booster shots of cash from the state.

St. Vincent's currently employs 3,500 people and averages 60,000 emergency room visits per year.

Workers who spoke with NY1 outside the facility Tuesday night expressed both anger and disappointment with the board's decision.

"I never thought I was ever going to leave here. I'm devastated. I don't want to work anywhere else. We have the best patients. It's horrible," said St. Vincent's nurse Carol Gemignani.

"It's unfortunate for the area, it's unfortunate for the people in this area. I mean we've been here for 160 years. It's really said," said St. Vincent's EMT Eric Jimenez.

A rally is scheduled to take place outside the hospital later this morning.

Meanwhile, local politicians say no closure plan should be approved unless emergency services remain.

"My goal had originally been to preserve everything. We did not meet that goal and we are losing these inpatient beds and that is a tragedy. But we are continuing the fight and the struggle to have urgent and primary care here on the West Side," said City Council Speaker Christine Quinn.

Mayor Michael Bloomberg says the city had been anticipating the closure, and that the New York City Fire Department is ready to take over the hospital's 13 ambulance tours as soon as it is needed.

Back in January, Continuum Health Partners -- a hospital consortium that operates Beth Israel and St. Luke's Roosevelt -- announced takeover plans. Those plans later fell through amid opposition from elected officials, community members, and St. Vincent's itself.

While the hospital searched for other partners, Governor David Paterson floated $12 million in loans. He also formed a task force to come up with a longer-term solution.

In the meantime, St. Vincent's laid off hundreds of employees, and began to sell off properties including two nursing homes and a hospice program.

Just last week, Mount Sinai Medical Center pulled out of plans to try and bail out the hospital.