Purchased By Triple Five Aviation LLC For $14 Million

The Dowling College Brookhaven Campus on Long Island, NY ... which had been home to the Dowling College School of Aviation ... has been purchased by Canada-based Triple Five Aviation LLC in an auction ordered by a U.S. Bankruptcy Court. The winning bid was $14 million for the 105 acre property.

The Riverhead Local newspaper reports that the new owners intend to reestablish the aviation program at the site. The purchase included a 298-bed dormitory, three buildings that made up the National Aviation and Transportation Center, classrooms, a computer lab cafeteria and a library. The property is adjacent to Brookhaven Airport (KHWV) and has an easement for access to the field's two 4,000-foot runways.

Newsday reports that Dowling College lost its accreditation and closed in 2016 after it ran out of money. It filed for bankruptcy in November of that year. An initial bankruptcy auction took place in January, but the highest was not enough, according to attorney Sean Southard, who represented Dowling in the proceedings. Higher bids were sought, and Triple Five eventually became the new owner of the school.

Stuart Bienenstock, director of business development for Triple Five Group, said after the hearing that the group is looking forward to re-establish the avion program at the site. Triple Five Aviation is a part of the larger group which is working on redeveloping the Enterprise Park at Calverton, known as EPCAL, as an aviation business hub on the site of the former Naval Weapons Industrial Reserve Plant. The Dowling College campus is intended to be part of that overall vision, according to the report.

Bienenstock told the Riverhead News that the company wants to build on the program that was in operation at the college before it was shut down. He said the company expects to close on the deal within 45 days.

FMI: Original report, Original report