Mercy College To Lease Part Of College Of New Rochelle Campus

NEW ROCHELLE, NY — What happens after the College of New Rochelle's last classes Saturday is still up in the air, but a portion of the campus in the Residence Park neighborhood has been rented. Mercy College, which has offered CNR students a way to continue their education uninterrupted, will be leasing it.

For up to two years, Mercy College will lease the property for $1.8 million a year, the Journal News reported.

The 15.6-acre campus, however, is being marketed by A&G Realty Partners and B6 Real Estate Advisors.

SEE ALSO: For Sale: College Of New Rochelle

The property is zoned R2-7 residential and permits residential and educational use, according to officials.

If sold to a developer, the city would review proposals for other potential uses.

Jeff Hubbard, executive managing director of B6 Real Estate Advisors, said that properties such as the college campus, with its recreational and educational complex, television production studio, state-of-the-art library and four residence halls, rarely become available.

The college's final day of classes is Aug. 10. There will be a final graduation ceremony for students who finished their degrees over the summer.

The school discovered in October 2016 that it was in a severe financial situation, with massive unmet obligations, including about $20 million in payroll taxes that went unpaid.

For more information on the sale of the campus, go here.

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