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1950s bungalow in Little Silver sold for $1.3 million despite being uninhabitable due to damage from Superstorm Sandy and a foundation that's not suitable for rebuilding. The property, on Borden Place, had been listed since July 2023 with prices ranging from $1,699,000 to $1,450,000 before closing at the lower price. According to Stacie Bender, the seller's agent, the buyer was looking for a small waterfront cottage and was willing to overlook the property's flaws.

    The lot is situated on a half-acre triangular-shaped plot on the Town Neck Creek in the Shrewsbury River, offering deep water access. The area is prized for its beautiful sunsets and proximity to boating, fishing, and other water activities. Bender notes that waterfront properties like this one are highly sought after, even if they require renovation or rebuilding.

    In contrast, a landlocked 2,700-square-foot home in Little Silver sold for $1.15 million, with the median sales price of homes in the area being $890,000 in July. The unusual sale highlights the demand for waterfront properties and the willingness of buyers to pay premium prices for the right location.