Seaside Park Will Have Second Try at Auctioning Off Now-Demolished Rental Property

The property at 66 I Street, Seaside Park, N.J., Feb. 2023. (Photo: Daniel Nee)

Seaside Park will try for a second time to sell a property it purchased last year – the site of a once-derelict multi-family home with myriad safety issues.

The property at 66 I Street had gone up for auction in April, however no bids were received.

The property consisted of two structures that were utilized as rental units, and was purchased in January 2022 for $850,000. After its tenants left the premises, the building was marked unsafe and, in March, was demolished. The property was voluntarily sold to the borough after officials recommended the declaration of the property as an area in need of redevelopment, the first step toward a potential condemnation.

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A new auction will be held via receipt of sealed bids, which must be received by the borough clerk no later than 10 a.m. on July 10, 2023. The bids will be opened and read on July 10, 2023 at 10 a.m. at borough hall, 1701 N. Ocean Avenue. Late bids will not be accepted.

According to Borough Administrator Karen Kroon, the minimum bid for the property is $650,000. The lot, 66 I Street, is located within the residential zone and is an oversize lot, measuring 50-by-130 feet.

The full public notice on the auction is embedded below: