PETER BOODY PHOTO | Derelict nursery on St. Mary’s Road will most likely be reclaimed for residential use.

When the  former Shelter Island Gardens Nursery property on St. Mary’s Road  is finally sold, it’s likely to be for residential, not commercial use. But when such a sale might take place is still in question, according to Suffolk County National Bank vice president in charge of operations Frank Filipo.

The bank repossessed the property from former owner Sean McLean and last May put it up for auction. The bank was the sole bidder at $525,000. Since then, bank officials have been planning to sell it, Mr. Filipo said.

“We’re looking to sell it as is,” Mr. Filipo said, explaining that no effort will be made by the bank to secure commercial zoning for the site. When Mr. McLean owned it, the site operated as a pre-existing, nonconforming commercial use in a residential area. But town code dictates that after one year of abandonment, the grandfathered status as a commercial property ends.

Asked when concerned neighbors could expect to see the property in the hands of a new owner, Mr. Filipo said there’s no word on that yet.