The property at 1585 Silverton Road, Toms River, N.J. (Credit: Monmouth/Ocean MLS)
The Toms River Township council on Tuesday introduced an ordinance to finalize the purchase of a 7-acre North Dover property advertised as “one of the last remaining large parcels of land in North Dover.”
The property at 1585 Silverton Road, contingent upon a public hearing and second vote by the council, will be purchased by the township for $1,040,000. Last month, the council authorized the administration of Mayor Maurice “Mo” Hill to acquire the property either through negotiation or an eminent domain taking. Ultimately, the township reached a negotiated price with its owner, 1585 Silverton Road LLC, a company registered to Binyamin Beitel, a major real estate developer based in Brooklyn, N.Y.
The property at 1585 Silverton Road, Toms River, N.J. (Credit: Google Maps)
The property was last purchased in May 2022 for $795,000, according to tax records, but had been offered for sale for $1.1 million, marketed as “ideal for a private end user to build your dream mansion, estate or a possible 4-5 lot subdivision.”
According to the resolution authorizing the acquisition, the property, just west of the Garden State Parkway overpass and just east of New Hampshire Avenue, is contiguous and adjacent to a landlocked township-owned parcel that has already been preserved, and would expand the township’s open space inventory.
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