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Bids are now being accepted by A&G Realty Partners and B6 Real Estate Advisors, which have been retained by the college to manage the sale.
A letter signed by the college president and interim board chair said the school is still facing "significant cash flow challenges" stemming from a financial crisis that started to unravel in 2016.
The private college disclosed to bondholders in December that it is has reached a memorandum of understanding for “a potential strategic transaction” with an unnamed educational institution.
William Latimer takes over as the College of New Rochelle is still recovering from a financial crisis first revealed late in 2016.