This bill authorizes the State Treasurer to sell and convey a specific piece of surplus real property located at 200 Sanatorium Road in the Township of Lebanon, Hunterdon County. The property, which encompasses 57,462 square feet and is identified as Block 9, Lot 7 on the local tax map, is the former site of Building 33, known as East Hall, of the Hagedorn Psychiatric Hospital. The sale is designated 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 intended to take effect immediately upon passage, reflecting the State's decision that the property is no longer needed for its purposes. The bill outlines the necessary steps for the sale and ensures that the transaction adheres to the established guidelines set forth by the State House Commission.