TD Bank Buys Surflight Theatre Complex For $100 At Auction

The Surflight Theatre has a new owner, at least for now, according to The Sandpaper.

TD Bank purchased the property and adjacent buildings for $100 at an auction in Toms River on Friday. But the future of the 65-year-old Beach Haven landmark is still unknown.

TD Bank had the first lien on the theater. If anyone else had bid at the auction Friday, they would have been responsible for the $4,067,123 owed to a number of creditors. But now they would only have to pay $2,014,604 to TD Bank, the primary lien holder.

The Superior Court of the State of New Jersey must approve the sale, which was conducted by a court-appointed special master.

So for now, TD Bank is responsible for the upkeep of the buildings on the site and will pay full taxes and back water and sewer bills.

To read the entire story, click here.