Key Points
- The Jackson School District is selling Rosenauer Elementary for $13.1 million.
- The buyer, Congregation Kehilos Yisroel, previously filed a lawsuit that has now been withdrawn.
- Closing on the sale is scheduled for early June.
JACKSON, N.J. — The planned sale of Rosenauer Elementary School in Jackson Township is officially moving forward after a lawsuit filed by the prospective buyer was dropped, according to a district update issued Friday.
The Jackson School District confirmed that a fully executed contract is in place for the $13.1 million sale, with a closing date scheduled for early June. The buyer is Congregation Kehilos Yisroel, an Orthodox Jewish organization based in Lakewood, N.J., that plans to convert the facility into a private religious school.
The transaction had been temporarily clouded by legal uncertainty when Congregation Kehilos Yisroel filed a lawsuit over alleged discrepancies in the agreement. The suit has since been withdrawn, and both parties confirmed that all terms have now been resolved.
“Recognizing that real estate transactions are complicated, we are pleased to report that we have come to a full agreement on all terms,” the district said today in a statement.
Rosenauer Elementary was one of several facilities considered for closure due to declining enrollment and budget constraints. The district plans to reallocate resources and students to other nearby schools. The other is McAuliffe Middle School, a coveted blue ribbon school.
The property, located on Citadel Drive, was originally built in 1968 and served generations of Jackson students. Its sale is one of the largest public school property transfers in the township’s history. It is slated to become a private religious educational facility.