Atlantic City sells $1.7M worth of property in auction

Atlantic City has sold $1.7 million worth of property as it faces a deadline to get its finances in order by the end of the

Gov. Chris Christie signed a packaged of bills

Gov. Chris Christie signed a packaged of bills to rescue Atlantic City. (Credit: News 12 New Jersey)

ATLANTIC CITY - Atlantic City has sold $1.7 million worth of property as it faces a deadline to get its finances in order by the end of the year or face a state takeover.

The sales took place Thursday at an auction that drew more than 100 people.

The biggest sale was $660,000 for properties in the South Inlet neighborhood, several of which front a boardwalk that's being rebuilt.

The second biggest item featured a city block that sold for $300,000. That property went to Tim Boland, who runs B&B Parking and plans to open a lot there, at least temporarily.

Sixteen of the 61 property packages didn't draw any bids. Most of them were put together at the end and were sold for $30,000.

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