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New York & Tri-State  + Fairfield/Westchester  |  December 3, 2019
Paul Bubny
By: Paul Bubny

New Rochelle Campus Sells at Auction

The 15.6-acre College of New Rochelle (CNR) campus has been sold at auction for $32 million. The winning bid came from Trustees of the Masonic Hall & Asylum Fund.

The sale, which was approved by the U.S. Bankruptcy Court, occurred about two months after the New Rochelle, NY-based college declared bankruptcy, following the cessation of classes. A&G Real Estate Partners and B6 Real Estate Advisors managed the sale on CNR’s behalf.

“The sale of this storied college’s campus at auction is the final chapter in its long history of providing profitable educational opportunities to over 87,000 men and women for 115 years,” said Mark Podgainy of Getzler Henrich, CNR’s interim chief restructuring officer. “We have full confidence that Trustees of the Masonic Hall & Asylum Fund will utilize and develop the campus in a manner that both preserves the legacy of this institution and offers value to the local community.”

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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  • ◦Development
  • ◦Sale/Acquisition