After A Year of Auctions, Buyer Found for Demolished Seaside Park Lot

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

After more than a year of repeated auctions and rounds of bidding, none of which yielded a sale of a borough-owned property in Seaside Park to a private buyer, it appears a new owner has been found.

The property at 66 I Street, a residential lot located on the ocean block near the Grumpy’s Tackle bait shop, was placed up for auction at least three times – the last occurring in Aug. 2023 – and no bidders met the borough’s reserve price, a minimum floor set by the seller. The borough then turned to other methods of selling the property, which once was improved with a multi-family dwelling.

Finally, after authorizing direct negotiations between the borough and potential buyers, Borough Administrator Karen Kroon announced at the last borough council meeting that a buyer had committed to the minimum $550,000 asking price for the parcel.

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66 I Street, Seaside Park, N.J., Aug. 2023. (Photo: Shorebeat)

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

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

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 of that year, 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.

The last solicitation of offers was held recently.

“There was one bidder,” said Kroon. “They’re working on the closing right now.”

While the borough may not have recouped all of the money it expended on the property, officials have said the safety issues at the old home forced action to be taken.

An investigation by the borough’s engineering firm at the time of the redevelopment declaration hearing found the multi-unit property to be both unsafe and unsanitary.

“Buckets were on the floors, tarps were on the ceiling to keep out the leaking,” the borough engineer said, describing the derelict conditions in the dwelling units.

66 I Street, Seaside Park, N.J., Aug. 2023. (Photo: Shorebeat)

Her review also found boarded windows, water stains, unsecured wires, a deteriorated roof, and defective wiring going to a sump pump, as well as a major history of other code violations. Meanwhile, tenants were continuing to occupy the premises despite the poor conditions, and had to be evicted before demolition was able to occur.