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Posted: December 17, 2019
College of New Rochelle sells for $32 million at auction
New Rochelle, NY According to A&G Real Estate Partners, LLC and B6 Real Estate Advisors, LLC, The College of New Rochelle (CNR) has been sold at auction for $32 million. The auction commenced on Thursday, November 21st and concluded on Friday, November 22nd. The Trustees of The Masonic Hall & Asylum Fund achieved the winning bid to purchase the 15.6-acre property. The United States Bankruptcy Court approved the sale.
“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. 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,” said Mark Podgainy of Getzler Henrich, the interim chief restructuring officer of the college.
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