Bing. University Buys Vestal Parkway Building for $5.5 Million

An abandoned office building in the town of Vestal has been acquired by Binghamton University.

A deed recorded at the Broome County Clerk's Office on Monday shows the Columbian Mutual Life Insurance complex on the Vestal Parkway East at Clubhouse Road is now owned by the school.

The purchase price for the vacant property east of the Binghamton University campus is $5.5 million. Although most of the site is in Vestal, a small portion is located in the city of Binghamton.

Maria Sexton, the Vestal town supervisor, told WNBF News earlier this month she had not been aware of the SUNY plan to acquire the site. She indicated she wasn't surprised she had not been notified of the purchase, despite the fact that the transaction had already been approved by the university board of trustees.

Chancellor John King Jr. had told the trustees that the property acquisition "is necessary for the purposes of SUNY Binghamton." He said it would allow Binghamton University to "accommodate program expansion" and to hire more faculty and staff.

King had indicated the complex would require minimal changes to be prepared for use by the school. That suggests the site will be used primarily for offices, although a university spokesperson previously did not return phone calls seeking comment.

The New York Liquidation Bureau in September approved the sale of the insurance company property to the university.

WNBF NEWS VIDEO: A brief inspection of the Vestal Parkway property on November 25, 2025.

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Contact WNBF News reporter Bob Joseph: bob@wnbf.com or call (607) 545-2250. For breaking news and updates on developing stories, follow @BinghamtonNow on Twitter.