The 126-year-old New York Military Academy — once attended by Donald Trump, Stephen Sondheim and John Gotti — has closed its doors and is up for auction.
The New York Times reports (http://nyti.ms/1Kqcnw3 ) the doors of the financially-struggling private boarding school were closed for good last Monday, despite promises of remaining open.
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The school, which filed for Chapter 11 bankruptcy protection in March, will be auctioned off at the end of the month for a minimum bid of $9.5 million. The new buyer of the 113-acre property in the Orange County village of Cornwall-on-Hudson isn't required to maintain a school on the land.
A deal to sell the school to a group of California-based investors fell through when a down payment of $1.3 million wasn't delivered earlier this month.
Information from: The New York Times, http://www.nytimes.com