Description
This opportunity is the public sale of a vacant 0.1701‑acre parcel (≈7,411 sq ft) located at 133 Martin Luther King Drive in Lakewood, NJ. The Board of Education is offering the land “as‑is” with a portable building on site; all personal property except the security system will be conveyed. Bidders must submit a minimum bid of $750,000 and a $50,000 security deposit. The bid opening is scheduled for March 24 2026, and the highest responsible bid must be accepted or rejected by the second regular Board meeting thereafter. Closing must occur within 60 days of award, and the successful purchaser must provide a 5 % initial deposit and satisfy any title, survey, and (if required) Phase‑I environmental study obligations.
• Minimum purchase price: $750,000 (must be met or exceeded).
• Security deposit per bid: $50,000 (retained as liquidated‑damage security).
• Pre‑bid inspection window: March 16‑20 2026 (by appointment, not mandatory).
• No due‑diligence period beyond the site visit; the sale is “AS‑IS, WHERE‑IS, WITH ALL FAULTS.”
• Title‑insurance, survey, transfer taxes, attorney and escrow fees are the purchaser’s responsibility.