China's Orient Asset Management Co. Ltd. Owns Dowling College Campus, Yet Has No Specific Plans for the Property


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A Suffolk legislator has begun an ambitious undertaking to persuade the county to acquire the long-abandoned Dowling College campus in Oakdale, along with its historic Vanderbilt mansion.

If the county can buy the 25-acre site, it could shield the campus and its crown jewel - the sophisticated Idle Hour estate. According to Legislator Anthony Piccirillo (R- Holtsville), this grand early 20th-century edifice, formerly owned by railroad legacy William K. Vanderbilt, is under threat of neglect and decay.

Mercury International, the entity that acquired this prime property in 2017 for $26.1 million, sold it on 12/17/21 to China Orient Asset Management Co Ltd. The town of Islip has sealed off the now deserted, valuable property. Rumor has it that the tax dues are being settled via taxes. Regrettably, the new proprietors in Beijing have no immediate plans for the property apart from including it in their financial records. Originally on the site was La Salle Military Academy, a distinguished Catholic educational institution encompassing both middle school/junior high school and high school divisions—Dowling College's acquisition of La Salle Schools. Valued at $16 million, this pivotal deal was officially unveiled on May 6, 1998. Notably, this acquisition encompassed the venerable La Salle Military Academy within Oakdale.

Piccirillo (R-Holtsville) acknowledged that the path to property acquisition is lengthy and complex but emphasized that it is a pursuit worth exploring. He further noted that if Mercury International demonstrates selling interest, the county will engage in two professional appraisals to establish the property's worth. He highlighted the importance of the effort to safeguard the mansion.

Piccirillo avoided speculating on the possible utilization of the site, mentioning that his chief objective is the preservation of the estate.

Suffolk police have been reporting several trespassing cases at Dowling in recent years. As recent as last Thursday, authorities are searching for four suspects believed to have caused a breakage on the campus late on Sunday night.

Securing the idle property poses formidable obstacles, including raising the necessary purchase funds and initiating contact with the owner.

Upon Piccirillo's urging, the Suffolk Department of Economic Development and Planning sent an expression of interest letter to Mercury's office in Wilmington, Delaware, on June 13, broaching the topic of a potential campus sale.

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According to Piccirillo, the letter remains unanswered.

He admitted to experiencing difficulties in establishing contact with anyone at the firm. Don Cook, the Dowling property's caretaker based in Huntington and a Mercury employee, claimed to be oblivious to Piccirillo's initiative or the county's letter. Cook was uncertain about the company's intention to sell the property.

Cook suggested on Wednesday that waiting for the letter's arrival would be the most appropriate course of action before formulating a response.

Efforts by the South Shore Press to reach Mercury's Delaware office have failed.

An email from a spokesperson for County Executive Steve Bellone indicated that the letter signifies the initiation of the county's open space preservation program process, and they are currently waiting for a response from the owners.

Islip Supervisor Angie Carpenter referred to Dowling as "a unique parcel," but refrained from stating her position on Piccirillo's proposal in a formal statement.

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