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Dowling College (1968-2016) Oakdale Campus Is Sold to the 2nd Highest Bidder NCF Capital Ltd. for $26.1 Million
If someone were to tell me you will outlive the college you graduated from, I would not believe them. I'd say, no way, not possible. Well, it did happen to me.
I am a graduate of Dowling College who earned a Bachelor's Degree in the 1980s. Sadly in the Summer of 2016 Dowling College closed its doors after 48 years.
The Oakdale campus focal point is the 45,000 square feet William K. Vanderbilt summer home later renamed Fortunoff Hall after a former benefactor Alan Fortunoff who paid to restore the mansion after a fire in 1974 badly damaged the historic structure.
The Oakdale campus was later renamed Rudolph Campus after another wealthy benefactor, Scott Rudolph. The Rudolph campus has 25-arces of waterfront property and is simply beautiful. The campus had a feel of tranquility and holds many fond memories for me.
I will always remember my favorite professors namely Dr. Thomas Tornquist who taught my Journalism class and Ned Bobkoff who taught dramatic arts. Professor Bobkoff was a talented acting teacher who never boasted about his acting talent and script writing ability. He simply demonstrated both when he taught us with passion.
Now to think my college is closed because it became saddled with too much debt, $65.8 million to be exact, is sad and shocking. Why did Dowling close? Likely adding a second 101-acre campus in 1994 in Shirley on Long Island, who's education focus was National Aviation and Transportation was a huge and costly mistake.
Years ago when I was a student in Oakdale, Dowling was not able to expand their student dormitories since the Idle Hour historic community would not allow it. As a result, Dowling looked to expand and build that sports facility they didn't have at their campus in Oakdale elsewhere.
So the dormitories and sports facilities were built in Shirley and Dowling over expanded. I though the campus in Oakdale was appealing enough to attract students who had a genuine interest in the Arts, Sciences, Business, Teaching and Aviation. They already had a small fleet of planes, a Rowing, Flying, Tennis, Basketball, Baseball and Lacrosse team. Wasn't that enough? Apparently not.
To think the degree that sits below the workstation I write from is from a middle states accredited college that doesn't exist anymore is sad and downright depressing. To see online both campuses being made available in bankruptcy via separate sealed-bid sales was hard to believe.
I actually thought someday when I got married, I'd have my wedding on campus in the ballroom of Fortunoff Hall. And how my wedding guests would be so impressed by the beauty of this historic mansion and its grounds.
I'm was hoping another College or University would buy the Oakdale campus and turns it into what it was meant to be; a college, and not a catering hall or country club.
The winner, and I mean winner, considering the William K. Vanderbilt summer mansion (Fortunoff Hall) alone was valued at $56 million, of the Dowling College Oakdale campus auction was initially Princeton Education Center LLC, who had the highest bid of $26.5 million when court documents were filed on Friday, April 7, 2017. However, they never closed on the prime property.
So instead, NCF Capital Ltd. who is based in Houston, Texas had the 2nd highest bid at $26.1 is the new buyer. They are identified in court documents as "An educational end-user."
I'm somewhat relieved that Dowling will remain a place of learning, which diminishes my sadness slightly. I cannot help but wonder; who is NCF Capital and what specifically will be done with the Oakdale campus now.
Myself, and my fellow alumni will forever feel a sense of loss that Dowling College is no more.