Fordham University has announced the sale of its 24-acre Marymount College campus, in Tarrytown, N.Y., for what The New York Times reported today was a price of $27-million. The buyer was EF Schools Inc., a chain of private language-instruction institutions with 35 locations in the United States and abroad.
Fordham, like Marymount a Roman Catholic institution, took over the women’s college in 2000 as it struggled financially. At the time, the merger was viewed as a plus for both institutions, and possibly a model for other such mergers in higher education. Fordham gained an expanded presence in an upscale suburb, while Marymount was able to retain its identity as a liberal-arts college for women under the Fordham umbrella.
But less than five years later, Fordham decided the merger was not working out. It announced in 2005 that it would close the Marymount campus by 2007 because enrollment was falling and finances had not improved. The last graduation took place at Marymount last spring. The sale will close this spring. —Andrew Mytelka