NYC College Sells Staten Island Campus to Wagner for $30 Million

St. John’s University has officially sold its Staten Island campus for $30 million to Wagner College, according to documents from the New York City Office of the City Register.

Wagner, a small private school based in the New York City borough, is expected to take on debt to buy the campus. It received a $32 million mortgage from Metropolitan Commercial Bank to finance the purchase, the school said in bond documents. It also considered borrowing through a private placement transaction, according to state agency documents.

City assessment data shows the property’s market value was most recently calculated at $56.5 million ...