BRADLEY BEACH — A survey and an appraisal were completed earlier this month ahead of a final decision as to the sale or razing of the former church at 319 LaReine Avenue.
Mayor Larry Fox, at the April 12 council meeting, said the borough is currently weighing its options for the fate of the property currently occupied by the now-defunct First United Methodist Church.
“The borough is now in the process of making a decision as to the appropriate path towards sale or disposition of the property,” he said during a slideshow presentation about the land.
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“The updates that we have for you right now are that at the end of March, a few weeks ago, we did get a final draft of an appraisal that was circulated to the council for comments,” he said.
In the beginning of April, surveys were completed subdividing the property at 319 LaReine into four conforming lots.
“The appraisal value came in at $2,471,000,” he said. “There are four conforming lots [on the property]—three lots at 5,500 square feet and one at 7,500 square feet…of those four conforming lots, three of them face Madison Avenue and one faces LaReine.” The gross appraisal comes in at $800,000 per lot, with a net appraised value of $729,000 per lot, including demolition and other estimated costs.
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