Thursday, October 01, 2015

Kiryas Joel Possible Bidder on NY Military Academy 

Last Monday, September 21, the New York Military Academy shut its doors after providing students with military-style education for 126 years. Later this month it will be up for auction. According to insiders, a possible bidder on the 113-acre section of land is the Hasidic village of Kiryas Joel. The parcel has a minimum starting bid price of $9.5 million.
The institutions closure has been a surprise to some according to the NY Times. In March the academy filed for Chapter 11 bankruptcy protection, but failed to close the deal on several of the financial bailouts, one of which included asking alumni and GOP front-runner Donald Trump for assistance. After this the school could not open for a new school year to students.
According to sources, interest in the property has been expressed by members of the Satmar Hasidic community in Kiryas Joel. The land could be used as a satellite for the rapid growing community of Kiryas Joel. In recent years, the property has also been toured by some of the community's members.
Last week, a spokesman for Kiryas Joel, Rabbi Moishe Indig, said, "If it's a good deal they may look into it."

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