Cullen and Dykman LLP Successfully Closes Sale of The College of Saint Rose Campus to Albany County Pine Hills Land Authority in Chapter 11 Proceeding
March 14, 2025Cullen and Dykman LLP is pleased to announce the successful closing of the sale of The College of Saint Rose campus to the Albany County Pine Hills Land Authority for $35,000,000, as part of the College’s Chapter 11 bankruptcy proceeding in the U.S. Bankruptcy Court for the Northern District of New York.
The sale marks a critical milestone in the orderly winddown of the College following the end of academic instruction in June 2024. Cullen and Dykman’s Higher Education team, led by attorneys Dina Vespia and Kevin P. McDonough, collaborated closely with the College’s President Marcia J. White and her administration to facilitate the smooth transfer of students to various teach-out partner institutions in the Capitol Region and throughout New York State to complete their degrees with minimal disruption.
In October, The College of Saint Rose filed a Chapter 11 case, helping to address its financial challenges and facilitating an orderly transition of its property to new ownership. Cullen and Dykman’s Bankruptcy and Real Estate attorneys Matthew G. Roseman, Bonnie Pollack, and Michael S. Eng, along with the Higher Education team, worked with College leadership and all involved constituents to negotiate and execute the sale, ensuring compliance with bankruptcy requirements and protecting the interests of creditors, students, faculty, and the greater Albany community.
This transaction underscores Cullen and Dykman’s extensive experience in higher education law, bankruptcy, and real estate transactions, and illustrates how the firm’s individual practice groups work together to secure successful outcomes for clients in complex legal and financial matters.
About Cullen and Dykman LLP
Cullen and Dykman (www.cullenllp.com) has been providing legal services to institutional clients since 1850. The firm represents a wide range of clients, including banks and other financial institutions, energy, telecommunications and water companies, construction companies, insurers, educational institutions, religious organizations, and not-for-profits. With over 190 attorneys in seven offices located throughout the Northeast and MidAtlantic regions, Cullen and Dykman is strategically positioned to meet the changing needs and demands of our clients.