[November 06, 2017]

A&G Realty Partners and Madison Hawk Partners Announce Bankruptcy Sale of Dowling College's Brookhaven Campus

The liquidation of assets by Dowling College will move forward with the auction sale of the former Brookhaven campus in Shirley, N.Y. as part of the Chapter 11 bankruptcy proceedings for the shuttered educational institution.

This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171106006156/en/

Dowling College's former 105-acre Brookhaven campus in Suffolk County, NY will be sold via auction. The property consists of an approximate 72,000 square-foot, 70-room dormitory, state-of-the-art athletic complex, and a 65,000 sq.-ft. office/class room complex consisting of two buildings and a 7,500 sq.-ft. airplane hangar with proximity to Brookhaven Airport. (Photo: Business Wire)

A&G Realty and Madison Hawk Partners have been retained to manage the sale of the 105-acre Suffolk County property which consists of an approximate 72,000 square-foot, 70-room dormitory, state-of-the-art athletic complex, and a 65,000 sq.-ft. office/class room complex consisting of two buildings and a 7,500 sq.-ft. airplane hangar with proximity to Brookhaven Airport.

The Brookhaven campus, which was home to the college's aviation program, is located on the William Floyd Parkway and has undergone millions of dollars of infrastructure iprovements, greatly reducing development costs to a buyer.

The sealed bid deadline has been set for December 4, 2017, and the sale event will take place on December 7, 2017.

"We expect that the sale process for the Brookhaven campus can achieve as successful an outcome as the prior bankruptcy sale of Dowling College's Oakdale campus," says Chief Restructuring Officer Robert Rosenfeld, whose firm RSR Consulting is managing the dissolution of the Dowling College estate. "This sale is a necessary next step in the effort to maximize value of Dowling's assets for the benefit of its many creditor constituencies. We are pleased to again work with the firms of A&G Realty and Madison Hawk to assist the Debtor in this sale process as well as utilizing the efforts of CBRE in connection with the dormitory component of this campus."

"We're entering our final phase in relation to the properties we were retained to market and sell for Dowling College," said Andy Graiser, Co-Founder and Co-President of A&G Realty. "The Oakdale auction event involved spirited bidding from both educational end users and potential developers. We fully anticipate this sale to receive an equally strong response."

"The Brookhaven campus is considered one of the most diverse development sites on all of Long Island with opportunities for residential, education, medical, health-related, senior housing, office, retail, etc.," added Jeff Hubbard, President of Madison Hawk Partners. "This is rarely available opportunity to purchase a parcel that's ideally situated between the Sunrise Highway and the Long Island Expressway with direct access to the Brookhaven Airport."

Current improvements on the Shirley, N.Y. property include:

• The National Aviation Building: A 65,000 sq.-ft. office/classroom building located on the southern border. The property is divided into three sections; a converted hangar with classrooms and offices and a library, a separate building with simulator labs, offices, dispatch/flight services areas, locker room and cafeteria, and the 7,500 sq.-ft. hangar.
• Brookhaven Residential Village: A 72,000 sq.-ft. building with 70 studio, two-, and three-bedroom apartments currently configured with a total of 289 beds. The building is vacant and primed for conversion into an alternate residential use.
• Athletic facilities including baseball, softball and multipurpose fields with spectator seating. There's also a 4,500 sq.-ft. fieldhouse with locker rooms, offices, and laundry, storage and concession areas.

On-site inspections of the Brookhaven campus are scheduled to be available by appointment on November 8^th, 14^th and 30^th. For additional information on the sale, please visit www.Dowling-RealEstate.com.

View source version on businesswire.com: http://www.businesswire.com/news/home/20171106006156/en/

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