Metropolitan College of New York is negotiating the $40 million sale of its 100,000-square-foot Financial District campus at 40 Rector Street to CUNY. Proceeds would go toward redeeming bonds and paying deferred debt service, helping address the school’s $60 million debt. The deal, at $400 per square foot, is still subject to approval by bondholders, accreditors, and ongoing negotiations. CUNY plans to use the site temporarily for Hunter-Bellevue School of Nursing during construction of a consolidated campus. The Rector Street facility includes classrooms, offices, labs, and a library. The college has previously sold property to ease financial strain.
Metropolitan College
