WCAX3
Tuesday afternoon, Green Mountain College in Poultney sold for $4,550,000. That’s a much lower price than the original asking price of $20,000,000.
Curious community members watched the auction on a screen at the former Green Mountain College. Down the hall, the bidding took place with Maltz Auctions employees and potential buyers the only ones allowed in the room.
The bidding began at $3 million. That’s $17 million under what the campus was appraised at in 2016.
Raj Bhakta became the new owner of the campus in just under 20 minutes. At this time, he is not discussing his future plans. More
More about the new owner, Raj Bhakta Here
I see one less college as a good thing.
Raj was a contestant on the second season of The Apprentice and is a Republican. He is also the founder of WhistlePig whiskey!
Green Mountain College was run by the methodists (read ‘Liberal'” and specialized in environmental programs. Guess they got woke and went broke.
It would be good if Bhakta turns it into a trade school. Plumbers, electricians, welders, diesel machanics, and the like are in demand and are paid well, and are generally not competing for jobs with non-US citizens.
this one of the colleges that Bernie Sanders’ wife stole all the profits from & bankrupted?
WhistlePig whiskey is pretty good too!
Don’t tell me. It was a “liberal arts” college.
Just once, I’d like someone to start a “conservative arts” college!
I will go with Moan Labe for 1000 Alex.
@ΜΟΛΩΝ ΛΑΒΕ
I was wondering the same thing so I researched it. She was president at Goddard College (96-97) and president at Burlington College (04-11).
Molan,excuse me.
Part of the success of an in person is the dynamic of the crowd of bidders and observers in the room. It generates a sense of excitement and desire that drives prices upwards to the highest possible price people are willing to pay.
Without that dynamic, prices usually head to ward the bottom basement range and bargains are to be had by cool headed bidders.
FWIW, if you’re ever at an auction and wait till you see people starting to leave the room, that’s when it’s time to start looking for bargains since the excitement that drives it has been lost.
Hope he plans to flip the property.
Owning in VT is nearly as bad as in CA.
I love the irony of a capitalist getting a bargain on a progressive college. That must gall most of the former administrators and teaching staff of Green Mountain College.
Raj sounds like a good man…i wish him well. His nightmare has just begun…Vermont sold the college but retains all of the Power and control. He will be lucky to survive financially so my advice to him is that when a quaint town meeting comes close to approving use as an incense factory that can only use bear and moose dung, he should stop the bleeding and consider himself lucky..Act 250 , a Law that pretends to be a kind of environmental zoning process, has about 200 steps some of which lead back to the beginning and will require a non refundable fee of over $200,000 ..I know this state well and in the era of the China plague, his haircut will be safe but painful.
James Gansley graduated from Green Mountain College in 2015. He is surprised how little the campus sold for, but says the land has great potential.
“I hope it’s still some sort of educational institute and people come here to learn and find themselves and get in touch with the universe,” Gansley said.
Yep – closing at LEAST 9 years TOO late… 😳
Anonymous AUGUST 20, 2020 AT 3:13 PM
Hope he plans to flip the property.
Owning in VT is nearly as bad as in CA.
You ain’t kiddin. We just sold a place in Burlington 2 weeks ago and I hope to never step foot in that State again. At first glance, based on his name and secrecy as to his plans, I assumed Wild Wild Country Redux. Which would be more fittingly welcomed up there. I wish him the best….he has mountains (pun) of progressive obstacles ahead.
As for Bernie’s bride…. different college, same scam, same results….zilch.