Municipal Land Sales for Schools Net Lakewood Township $4.5 Million

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Lakewood, NJ, Township municipal coffers are nearly $4,500,000 richer after the recent public auction of much coveted land in the Oak Street school corridor. The Township received buyers’ deposits totaling $450,000 for 8.22 acres of land for schools.

Township officials had worked diligently with both the municipal planner and tax assessor to designate land to be auctioned solely for the purpose of educational facilities. There were over 20 mosdos that came with hopes of snagging one of the parcels.

“I am pleasantly surprised at how well this public auction went,” says Municipal Manager Tom Henshaw. “It was amazing to see the camaraderie amongst the various schools despite the fact that they were bidding against each other.”

The successful bidders had to put down 10% of the purchase price either in cash or cashier’s check and will have 60 days to close on the property and complete the transaction.

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