St. John's University has officially sold its Staten Island campus to Wagner College for $30 million, according to New York City Office of the City Register documents. Wagner, a small private school based in the NYC borough, will take on debt to finance the purchase. The transaction represents a significant campus consolidation in New York's competitive higher education landscape.

Wagner received a $32 million mortgage from Metropolitan Commercial Bank to finance the acquisition, the school confirmed in bond documents. The institution also considered borrowing through a private placement transaction, according to state agency filings. The mortgage amount exceeds the purchase price, suggesting Wagner secured favorable financing terms for the property transaction.

The sale underscores financial pressures facing some higher education institutions in the post-pandemic era. Wagner's acquisition expands its physical footprint while St. John's streamlines operations across remaining campuses. The transaction reflects broader trends of campus consolidation as institutions adapt to changing enrollment patterns and economic realities affecting NYC colleges.

New York's higher education market has seen increased campus transactions as institutions reassess real estate holdings amid shifting student demographics. The Staten Island property transfer marks another example of educational institutions optimizing physical assets while maintaining academic programming. Wagner plans to integrate the campus into its existing educational operations.