Sun Bank Brigantine Property Sold for Mere $390,000

Sun Bank Real estate Brigantine
Sun Bank Gets $$$ Haircut in Brigantine

Talk about rock bottom prices for Brigantine Real Estate. The shuttered Sun Bank property at 3900 Atlantic-Brigantine Blvd is currently assessed at $1,118,100. Sun was paying taxes based on that strong valuation. The new owner will likely appeal that….pronto.

On Jan. 12, 2016, SUN BANK property in Brigantine sold for just $390,000.

The buyers are Borgata Realty LLC. Huh? We’ll keep you posted on that head-scratcher.

Like we’ve suggested, poor city management has kept property values incredibly low over the years. Note: Other South Jersey shore towns have already started to rise. With fire sale prices like these, those with cash are grabbing and holding these parcels for now. Two such land & property speculators in Brigantine are Councilman Andy Simpson & the development team of Mike Snyder & Jack Scheurich.

According to trusted sources, we believe Brigantine Councilman Andy Simpson is the most aggressive buyer of depressed Brigantine properties, and has been for a while. Simpson sometime buys direct, either using his name or a corporate LLC name. Mr. Simpson is alleged to also be providing cash or other support to 3rd party buyers. Nothing wrong with buying Brigantine property…..except…..he’s a sitting Brigantine Councilman. Simpson must comply with a whole set of other, specific laws. Think he’s doing that?

As a Councilman, Mr. Simpson should be required to disclose all of his investments on Brigantine Beach.

Subscribe BrigantineNOW

2 thoughts on “Sun Bank Brigantine Property Sold for Mere $390,000”

  1. I just read that in the real estate transactions in today’s Press. I could not believe that a prime piece of commercial property went for such a bargain price….

    1. It’s a WELL KNOWN fact….businesses are afraid to set up shop and invest in Brigantine. Too corrupt. Ex: even the promising ‘surf shop’ on 8th street ( old CVS ) got harassed by City inspector…..who happens to be Mayor Guenthers brother-in-law. Now, new owners have backed-off. No one working on that property for past 2 months.

Comments are closed.