A bankruptcy court yesterday approved the sale of the shuttered St. Vincent’s Medical Center in Greenwich Village.

The ruling paves the way for the North Shore-LIJ health-care system to open a 24-hour emergency room and ambulatory clinic in the landmarked O’Toole Building on Seventh Avenue.

The 160,000-square-foot mini-hospital, which will have no inpatient beds or trauma care, is scheduled to open in the fall of 2013.

The $260 million sale will also allow the Rudin family to build luxury apartments on the main hospital campus on the opposite side of the avenue.