St. John’s University Oakdale Campus
St. John’s University Oakdale Campus
David Winzelberg//September 28, 2016//
St. John’s University closed on the $22.5 million sale of its 170-acre Oakdale campus Tuesday, the school has announced.
The buyer, Amity University, is an international nonprofit educational institution with campuses in China, India, South Africa and several other countries.
The sale has a lease-back component that allows St. John’s to offer academic programs there through June 2017. St. John’s says it is still looking for another location on Long Island to move its operations after leaving the Oakdale campus.
St. John’s first established its Oakdale campus in 1999, offering graduate programs and currently has more than 220 students. The campus includes 11 buildings totaling 260,000 square feet.
St. John’s purchased the property on the Great South Bay from the LaSalle Christian Brothers in 1998 for about $14.3 million. The site was occupied by the LaSalle Military Academy for more than 75 years. St. John’s invested more than $10 million in renovating classrooms, laboratories and other buildings there.
The former estate of Frederick Bourne, president of Singer Sewing Machine Company, is also located on the property.
Brokers Helen Hwang and Karen Wiedenmann, formerly of Cushman & Wakefield, and members of C&W’s Metropolitan Area Capital Markets Group, including Andrew Merin, David Bernhaut, Gary Gabriel, Brian Whitmer, Ryan Dowd and Long Island’s David Pennetta, represented St. John’s in the sales transaction.