- Associated Press - Thursday, June 23, 2016

ATLANTIC CITY, N.J. (AP) - 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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