The more I look into the dealings of AP the more I stratch my head and the little hair I have left on it. I downloaded the deed to the parking lot (which I can send to you Maureen). It is dated in 2002 to APartners, but it says that the fair market value has to be determined and that until such time, AP has a lien on the property and Fishman cannot sell it. I think the lot is .45 acres or 19,602 sf, thus the $400K price comes out to $20/sf of land. I don't really have access to NJ sales data but the limited ones I show in AP that are reported to be land show in the mid-$20's/sf. However, I am talking about 6,500 to 7,500 sf sites NOT on the waterfront and that are not zoned to build what I think could be built here. These other sales I beleive are limited to 4 families and will likely be less, say 3 at the most. Just doing it by the sf of plot area is wrong and this connects to one of my earlier posts about HBU and that the value of a parcel is what you can do with it. If small land sales in AP are used they should be analyzed on a dwelling unit basis, then we are going to come up with $50K/unit and more. I am still amiss of whether the market value of this lot is supposed to be as of the transfer date in 2002 or now when it is being determined. Why are the sales from Fishman to the developers being used as indicators? Something is rotten in the state of Denmark.
--- In [EMAIL PROTECTED], "dfsavgny" <[EMAIL PROTECTED]> wrote: > > Maureen > > You asked for typos, in the heading it says amendino instead of > amending. > > As to the ordinace, God!, why can;t you say what you mean plainly. > Interesting that the city claims it had an appraisal done which > valued it at $490,000 and the developers dispute the amount and are > hiring their own. If they disagree, they pick a third neutral. This > is typicaly what I go through. Again, I ask what were the parameters > of the apprisal assignment, ie., valuation date, zoning or legal use > of the property, etc. I find it hard to believe that an appraisal of > land zoned to build 136 units that will sell on average for several > hundreds of thousands of dollars is valued at $490,000. I am going > to make a point of getting to that city council meeting, which is > difficult since I am in AP on weekends only. I think the appraisal > should be released. I know all the tricks and would like to see why > it comes in so low. > > --- In [EMAIL PROTECTED], [EMAIL PROTECTED] wrote: > > Click here: Restore by the Shore - Home - > > > > Please check out the ordinance posted now, through the help of > friends - > > including divine intervention from Rev. Kevin Brown - the full > ordinance for the > > sale of the most valuable parcel of land in the redevelopment > plan - for > > $400,000.- is on restore's home page. > > Also sound is up on Ruth Carr Chorus at Asbury Tower performers > and interview > > with Steven Anderson of the Castle Coalition project of the > Institute for > > Justice and Bruce MacCloud, who lost his Victorian to Long Branch > redevelopment. > > Thanks for checking them out! > > Maureen > > > > Speak up - It's America!! > > Maureen Nevin > > Restore Radio 88.1FM - 4 Years on the Radio!! > > Asbury Park's Own Live Talk Show > > 601 Bangs Avenue > > Listen 8 - 10 PM Thursdays on 88.1FM or > > Listen Live or Later on the Web http://www.restoreradio.com/ > > Call the show 732-775-0821 > > Call me 732-774-0779 fax 502-0463 ------------------------ Yahoo! Groups Sponsor --------------------~--> Make a clean sweep of pop-up ads. Yahoo! Companion Toolbar. Now with Pop-Up Blocker. Get it for free! http://us.click.yahoo.com/L5YrjA/eSIIAA/yQLSAA/Y2tolB/TM --------------------------------------------------------------------~-> Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
