Third Time’s a Charm? Seaside Park Property to Go Up for Auction Again

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

The property at 66 I Street in Seaside Park will be placed up for auction a third time, officials said this week, after the borough failed to find a buyer at an auction held July 10 – the second attempt for the borough to sell the oversized parcel.

Borough Administrator Karen Kroon said the borough will try again Aug. 14, with a minimum bid of $586,000, the assessed valuation of the property for tax purposes.

The property is currently vacant land. It previously housed 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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The property at 66 I Street had gone up for auction in April, however no bids were received. Bids were once again accepted July 10, however the minimum sale price of $650,000 was not met. This time, the aforementioned $586,000 figure will represent the minimum bid.

The parcel is located within the residential zone and is an oversize lot, measuring 50-by-130 feet.