The former College of Saint Rose campus has been sold.

County Executive Dan McCoy said Thursday that the Albany County Land Authority won the bid for the property. That bid was $35 million.

“This is more than an investment in land, it is an investment in the future of our community. By securing this property, we are preserving the assessed value and integrity of the surrounding neighborhoods and serving the best interests of Albany County,” McCoy said in a statement.

The bid must now get final approval from bankruptcy court.

As NewsChannel 13 has reported, the 104 years old college shut down earlier this year, due to financial problems.