The school district has finalized the $6.5 million sale of its administration building on Princeton Avenue to the Yeshiva Beth Medrash Govoha, district officials confirmed to the Asbury Park Press today.

Robert Finger, school board business administrator, said the revenue will go toward capital projects, paying off debt, and normal operations of the district.

The administration also signed a five-year, $958,750 lease for its new 13,000-square-foot home on Route 9 near County Line Road. The site, near ShopRite, is owned by BMG and operated by the recently opened Center for Health Education, Medicine and Dentistry.

District officials say they hope to move in by August.

(Source: Asbury Park Press)