A group of developers has offered the borough $350,000 for the former hospital property, which is $120,000 less than the new asking price and $480,000 less than the old asking price of last year.

But what’s really new is that anyone is offering anything for the 1.94-acre property and the more than 30,000-square-foot building, much of which was built 45 years ago. The borough has been looking for buyers for almost a year, and this is the first real offer.

The lack of serious interest is an indication that the original price was too high, that asbestos removal is a financial deterrent for t...