Paterson to put up for auction $3.37 million worth of properties

The city is planning to sell four and half-dozen properties scattered throughout the municipality assessed at $3.37 million.

Properties include vacant lots, residential houses, dilapidated structures, and parking areas. Each of the 54 parcels will be auctioned off at a minimum of 20-percent of assessed value, according to officials.

Assessment for the properties range from $9,300 to $398,400. Many of the lots being sold are undersized and may not be developable. For instance, in most parts of the city, the minimum lot size for a home is 50×100. However, in redevelopment zones, the …read more

Source: Paterson Times

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