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NEWS & PRESS

10.01.2020
72-acre Mixed-Use Waterfront Development Site Sold to Bordentown Township

Bordentown, NJ - October 2, 2020 - Max Spann and its Marketing Partner JJManning are pleased to announce the sale and closing of this prominent property located along the Delaware River. This mixed-use development of over 300 residential units approved to build had drawn intense developer interest until the Township prevailed at a purchase price of $4.6 million.

The Phase II site had received full approvals for the development of 157 townhouses, 176 market -rate apartments and a mixed-use building but will instead be used as a riverfront park with various amenities not yet fully determined.

"This was a bold and visionary purchase undertaken by the Township", said Max Spann, President of Max Spann Real Estate & Auction Co. "Thousands of feet of riverfront with stunning views of the Delaware river will now be accessible to the public for active and passive recreation for all time."

The Max Spann/Manning Team had been retained to market and sell this important site on behalf of a real estate investment fund. Their efforts drew developer interest across a broad spectrum. The Township sensing that the opportunity to preserve this site was quickly disappearing approached the Spann Group who in turn negotiated this sale to the satisfaction of all parties.