Instrumental in this process was the acquisition of Northeastern Bible College, which had experienced a decline and closure similar to that of King's.

[17] In 1999, King's leased 45,000 square feet (4,200 m2) of space on three floors of the Empire State Building in New York City for classrooms, a student recreation center, and administrative offices,[7] and the College re-opened.

[23] In 2012, the college relocated from the Empire State Building to a new location one block south of Wall Street on Broadway.

[1][24] On July 11, 2013, the college announced the appointment of Gregory Alan Thornbury, former dean of the School of Theology and Missions at Union University, as the sixth president of the institution.

[25] On November 21, 2017, the college announced that Thornbury would become its chancellor and retired Air Force Brigadier General Tim Gibson would serve as interim president.

[32] In February 2023, the college's accreditor, the Middle States Commission on Higher Education (MSCHE) sought additional information regarding its "teach-out plan".

[33][19][34] This action required the college to demonstrate its compliance with MSCHE standards by April 18, 2023, or face the loss of its accreditation.

[34] In March 2023, King's began notifying students that it might soon close due to financial difficulties exacerbated by the COVID-19 pandemic.

[19] The college's financial challenges were documented in the 2023 Demise of the Crown podcast, produced by the Empire State Tribune, the King's student-led news outlet.

[43][44] The New York State Education Department lists King's as a "potential closure" and that since July 2023, the college has not had any students.

[45] In January 2025, the school announced that they were hoping to have a go-forward plan determined by July 15th and that they expected to be debt free by the end of the year.

[46] In addition, The King's College must either dissolve or present a go-forward plan to the New York State Education Department by July 15, 2025.