Bankrupt College of New Rochelle is looking to sell its 15.6-acre campus that is just 20 miles from New York City to repay creditors, Bloomberg News reported. The school, founded as a Catholic women’s college in 1904, filed for bankruptcy on Sept. 20, crushed under the burden of $80 million of liabilities, including $14 million to bondholders. The campus will be sold at auction in November, but brokers retained by the school have been working for months to court potential buyers — someone who might find a use for a site that includes a TV production studio, four dormitories, and a library of 200,000 volumes. The site would likely draw interest from other educational institutions, as well as senior housing, or wellness and lifestyle firms, said Jeff Hubbard, executive managing director at B6 Real Estate Advisors, which is handling the campus sale with A&G Realty Partners. It’s being leased through 2020 by Mercy College, which absorbed about 1,700 students from College of New Rochelle. Qualifying bids to participate in the auction are due by Nov. 18, according to court documents. The auction will be held on Nov. 21. There is no stalking-horse bidder currently listed. Matthew Roseman, an attorney representing the college in its bankruptcy case, estimates the campus is worth between $35 million and $50 million.
