The Redevelopment Agency last week authorized the purchase of a Hamilton Street home for $340,000 as part of an overall plan for an amphitheater at the former Hamilton Laundry site.
The agency previously made an offer of $310,000, which was rejected by the current owner, Colonia-based Grove Investments, LLC. The property is assessed at $146,700, according to PropertyShark.com, and paid about $6,400 in property taxes last year. PropertyShark lists the most recent sale date as February 1998, but no sales data was available on the 0.0859-acre site.
The multi-family home at 312-314 Hamilton St. (Block 167, Lot 44), adjacent to the former Hamilton Laundry, eventually will make way for a concession stand and restrooms, as part of the plans for an amphitheater along the river.
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wow, I’m shocked at the high price for such a run-down and unkept place!But I’m glad to know that the current owners are leaving and that place will no longer be an eyesore.If only the town would go around and give penalty tickets to other rundown houses (including another one on the same street that has been having a broken window for at least a year), Rahway would actually start looking a bit nicer and more welcoming to out-of-towners.
Nothing like a little graft to brighten the holiday season. I would have loved to see Rahway condemn, seize, and then bulldoze this rat-hole of a property. Well, one way or another – good riddance.
That “investment group” sound like a smart bunch.In this market people with nicer homes in much better neighborhoods can’t get 300k for their homes! What will they ask for the dump next door?