Takeaways by Bloomberg AI
- A struggling college in New York City is planning to sell its Manhattan campus to The City University of New York, providing a reprieve for its bondholders.
- CUNY intends to purchase the real estate for $40 million, with proceeds of the sale to be used to redeem a portion of Metropolitan College’s outstanding bonds and pay past debt service.
- The sale still needs approval from entities including Metropolitan College bondholders and the school’s accreditor, according to a regulatory filing.
A struggling college in New York City is planning to sell its Manhattan campus to The City University of New York, providing a reprieve for its bondholders.
CUNY intends to purchase the real estate located in the Financial District from the Metropolitan College of New York for $40 million, according to a regulatory filing dated Aug. 26.
Bloomberg
By Amanda Albright and Elizabeth Rembert
August 27, 2025