ATLANTIC CITY, NJ—The New Jersey office of AuctionAdvisors and AJ Wilner Auctions report they will stage a bankruptcy auction of 48 mostly contiguous lots on the oceanfront and South Inlet in Atlantic City on May 21.

The bankruptcy court-ordered auction will take place online at www.AuctionAdvisors.com and onsite at the Revel Casino beginning at 11 a.m. Company officials say prospective buyers will be able to bid on one lot, several lots, or the entire assemblage.

The lots, which include  boardwalk and beachfront parcels, are located in the South Inlet.

"Buying properties in a bankruptcy context is a unique opportunity for investors big and small to take advantage of the upswing this area of Atlantic City will experience in the next few years,” say Oren Klein, managing partner at AuctionAdvisors. “So far, we have been happy to receive some early indications of interest from bigger players who are aware of the bankruptcy filing and are interested in many or all of the lots. However, as our campaign unfolds, we expect this offering to generate significant interest among smaller investors who know the area well, but who will only be prepared to buy one or a maybe a few smaller lots.”