The 110-acre parcel of land near the Garden State Parkway that had been owned by Shoreline Sand and Gravel has been sold, a spokesperson for Sheldon Good & Company told Patch.
Although the buyer was not identified, the spokesman indicated there was interest from two parties.
The sale took place on Dec. 18, and was approved and closed on Dec. 21. The property was sold for $685,000.
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The resolution was necessary, according to Township Administrator David Breeden, so that the bid process could be finalized.
Under the terms of the resolution, the committee cut interest charges that had been waged on the property under the old owners from $61,000 to around $30,000, and other penalties were also cut in half. Under the terms of the resolution, the taxes will remain the same - $229,853, Breeden said.
