NEW ROCHELLE, N.Y. – The College of New Rochelle has sold the south Bronx building that houses its John Cardinal O’Connor Campus.
The building at 332 East 149th St. was sold to New York real estate company Chestnut Holdings for $10.5 million, the full asking price. The John Cardinal O’Connor Campus will remain open in a 10-year, leaseback agreement that will keep four floors of the building open for the college.
Sale proceeds will go toward investments in the endowment fund, and investment earnings will be used for maintenance and technology for all campuses.
“In its more than 35 years in the South Bronx, The College of New Rochelle has delivered its baccalaureate program to over 5,000 women and men in the community,” said Judith Huntington, president of The College of New Rochelle. “Our commitment to serve the South Bronx community in this building remains steadfast.”
More than 17,000 adults have graduated from The College of New Rochelle's School of New Resources since 1972. The school has been internationally recognized as a model for adult education, and more than 52 percent of its graduates have gone on to obtain advanced degrees.
In addition to the South Bronx, there are School of New Resources campuses in Brooklyn, Co-op City, New Rochelle, Harlem and at DC-37 Union Headquarters in Manhattan.
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