TOMS RIVER, NJ – The Township of Toms River is moving to purchase a piece of land in the northern section of the township on Silverton Road from a Brooklyn based LLC.
It is being marketed as one of the last large buildable lots remaining in North Dover.
1585 Silverton Road was purchased by 1585 Silverton Road, LLC, with a registration based out of a 1021 38th Street in Brooklyn. The Brooklyn based LLC paid $795,000 for the land on May 24th, 2022.
Now, the Toms River Township Council has announced it will seek to purchase the land to preserve it for open space for $1,040,000 for a $295,000 profit.
The ordinance to purchase the property was introduced and passed upon first reading at a meeting of the Township Council of the Township of Toms River, County of Ocean, New Jersey, held on December 14, 2022 at 5:00 p.m. It will be further considered for final passage at a public meeting to be held in the L. Manuel Hirshblond Meeting Room of the Municipal Building in said Township on December 28, 2022 at 5:00 p.m., or as soon thereafter as this matter can be reached, at which time all persons interested shall be given an opportunity to be heard concerning this ordinance.
The 7.14 acre lot is currently listed for sale on Realtor.Com for $1,100,000.
“Here’s your opportunity to buy one of the last remaining large parcels of land in North Dover, 7.14 acres of Treed Property. Ideal for a private end user to Build your dream mansion, estate or a possible 4-5 Lot subdivision,” the listing reads.
No applications for a subdivision have been approved by the township for this property as of yet.
It is being marketed by The Nussbaum Team with Keller Williams Shore Properties.
