This bill authorizes the State Treasurer to sell a surplus property located at 200 Sanatorium Road in the Township of Lebanon, Hunterdon County. The property, which includes 57,462 square feet of land and improvements, is identified as Block 9, Lot 7 on the local tax map and was formerly known as Building 33, or East Hall, of the Hagedorn Psychiatric Hospital. The sale is to be made to GShack Group, LLC for an appraised value of $570,000, with the terms and conditions of the sale to be determined by the State House Commission.

The act is set to take effect immediately upon passage. This transaction is part of the state's efforts to manage its real estate assets by disposing of properties that are no longer needed for state purposes.