SOUTH RIVER — Borough officials are considering the use of a marketing firm to assist with efforts to sell the Lincoln School.
The borough has been unsuccessful in attempting to auction the property and recently rezoned it to accommodate a multifamily dwelling.
At the July 28 Borough Council business meeting, Borough Administrator Frederick Carr reported that he heard from Bob Dann of Max Spann Real Estate & Auction Co., which has offices in Annandale and New York. According to the letter Dann sent Carr, the company would like to include the property in a multiparcel sale that will feature dozens of properties throughout the state later this year.
Carr said the downside of using the firm would be the cost, which is added to the price of the real estate. As per a proposal from the company, the fee would be 10 percent of the listing.
However, the borough would not be bound by any offer made through the company, he said.
“We do not have to accept the offer that they bring to us,” Carr told the council.
Should the borough reject the high bidder on the property, the borough would be required to reimburse Max Spann $2,000 in marketing costs.
In a letter to the council, Carr encouraged the council to use the service.
“We are a long way from a solution, but this should be part of the plan,” he wrote.