At least three bidders are expected to take part in today’s bankruptcy auction of Dowling College’s 105-acre Brookhaven campus (N.Y.), according to the property’s marketer, Newsday reported. Sealed bids for the property, which includes a 70-room dormitory, an athletic complex, a two-building office and classroom complex, and a 7,500-square-foot airplane hangar, were due by Thursday. Organizers of the auction said they have received three bids for the property, and the bidders’ identities will remain sealed until after the auction. The auction will proceed in increments of $100,000, said Sean Southard, an attorney representing Dowling in its chapter 11 bankruptcy proceedings. The liberal arts college ran out of funds, lost its accreditation and closed in 2016. Dowling said that it had $54 million in long-term debt and filed for chapter 11 bankruptcy protection in November 2016.
