An appellate panel has rejected a property owner’s bid to vacate Jersey City’s $520,000 purchase of a Center Street parcel that the owner said is worth “at least $5 million.” The undeveloped property in question, 34-36 Center St., was purchased by the city in 2019 as part of the 17-year-old Bates Avenue Redevelopment Plan. The property was sold for $520,000 in December 2021. The appellate panel pointed out that the previous owner, MLS Realty LLC, failed to appeal a decision by three condemnation commissioners in May 2019 that set the value of the property at $520,000. The following month, the …
