Sgt. Maj. Bailey summed up the experience as the last guests were leaving the NYMA campus. “People plan these events for months,” he said. “We pulled it off in three days.”
The US Bankruptcy Court Southern District will hold a hearing at noon on Dec. 1 to consider the compensation requested by the legal firms representing NYMA and the academy’s unsecured creditors.
There was an undercurrent of optimism in US Bankruptcy Court yesterday. “It’s too soon to celebrate,” Steven Jurista admitted, “but we have a high bid and a credible back-up bid.”
SouFun Holdings Ltd. submitted its down payment yesterday for the purchase of NYMA. The Town Board is anxious to meet the new owners and work with them.
SouFun Holdings Ltd., a company traded on the New York Stock Exchange, purchased NYMA this afternoon for $15.825 million. Earlier in the day the company’s stock had risen by seven percent.
NYMA was on the agenda when the Town Board met on Sept. 14. Supervisor Randy Clark said the Town will reach out to the new owners if the school is sold.
NYMA won’t be opening on Sept. 14, as announced in a recent letter from Anthony Desa, the president of the Board of Trustees. He had addressed the letter to faculty members, alumni and students.