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Newark To Hold its First Online Property Auction

By rlsmetro on

Newark regularly holds auctions to sell unneeded city-owned properties. Now, something new has been added.

This year’s auction of 47 properties will be held entirely online on Thursday, August 27, at 10:00 a.m.

The online auction can be accessed at https://newarknj.realforeclosure.com.

In addition to avoiding any issue of social distancing, the online auction gives many more people and organizations the opportunity to bid.

“Most of the properties in this year’s auction are residential and in neighborhoods across our city,” said Mayor Ras J. Baraka.

“The auction is another step forward in our strategy to redevelop neighborhoods outside of downtown and increase homeownership in Newark.

I recommend that residents who want to own homes in Newark, develop properties here, or invest in the future of our city, participate in our virtual community town hall.”

The virtual town hall preceding the auction will be held live on the City of Newark’s Facebook page this Thursday, August 20, at 7 p.m.

Those participating will be able to view photos of the properties up for auction, learn how to bid on them, and get answers to their questions about buying city-owned property.

“This year, despite the pandemic, the redevelopment of Newark’s neighborhoods is moving full steam ahead,” said Allison Ladd, Deputy Mayor and Director of the City’s Department of Economic and Housing Development.

“There’s the first-of-its-kind online auction, launch of Mayor Baraka’s landbank, more grants to first time home buyers, minority and women developers building new housing in the West Ward and designation of new redevelopment areas in the Fairmount and Seth Boyden neighborhoods – all adding up to an accelerated pace of redevelopment outside of downtown.”

Bids for the auction open today, Monday, August 17. Information about the properties and the auction rules can be found on the city’s website at newarknj.gov.

Bids may be submitted at
https://newarknj.realforeclosure.com.