--- In AsburyPark@yahoogroups.com, "justifiedright"
<[EMAIL PROTECTED]> wrote:
>
>
Doesn't seem like Pat S. is happy about this. If everyone else new
about this 2 weeks ago why not Pat S. and Debbie. Sounds like Pat F.
did a number on them. Why are they closing the doors on St Patricks
Day. Is a lease forthcoming. It doesn't sound right.
Hmmm? Why is the Press writing about this? It wasn't news Thrusday
> when TCN broke the story - Dan knew about this 2 weeks ago. This
> isn't a story! (Just ribbin you pal :-))
>
> As to another debate on this board - Fasano is convinced Madison
> Marquette is here to stay (I picked that up in traderdube's post
> when he spoke about the "new" Asbury Park redeveloper).
>
> Here is the Press story. Note the comments after the article. One
> of them is quite possibly the craziest I've ever read. Enjoy.
>
>
> PRICE IS NOT DISCLOSED: Properties include Wonder Bar, Baronet
> Theatre
>
> Wonder Bar, theater to be sold
> Posted by the Asbury Park Press on 01/20/07
> BY NANCY SHIELDS
> COASTAL MONMOUTH BUREAU
>
> Post Comment
> ASBURY PARK City developer Patrick Fasano said Friday he has
> reached an agreement to sell four buildings, including the popular
> Wonder Bar on Ocean Avenue, and the Baronet Theatre and Fast Lane
on
> Fourth Avenue, to Asbury Partners, the beachfront redeveloper.
>
> Negotiations have been ongoing the past year on a price, and Fasano
> said a settlement has been reached. He would not disclose the sales
> price. The fourth property in the package is the F & H Paints
> building at Grand and Monroe avenues.
>
> Fasano said he made a deal now because Asbury Partners has brought
> Madison Marquette, the national retail real estate specialist, in
as
> a partner to redevelop the entertainment and retail sector on the
> waterfront.
>
> "With Madison Marquette coming in and taking a lead role on the
> beachfront, I felt it was in my best interest to cooperate with
> them," Fasano said. "Before they (Asbury Partners) had Madison
> Marquette, they had credibility issues.
>
> "I've had three or four meetings with Madison Marquette, and I know
> for a fact they (Asbury Partners) have them," he said. "Now Asbury
> Partners has a partner with legs, and I want to get on their team
> and work with them."
>
> Fasano said he expects to close on the deal shortly, and if Asbury
> Partners wants him to keep the Wonder Bar or Baronet Theater open,
> he will remain as a tenant.
>
> He suggested if the public wants the Wonder Bar to keep operating,
> that people should contact both Asbury Partners and Madison
> Marquette.
>
> Larry Fishman, chief operating officer of Asbury Partners, said
> Friday he could not comment.
>
> "I have a confidentiality agreement until the deal is finalized,"
> Fishman said.
>
> Gary Mottola, a managing director and head of investments at
Madison
> Marquette, could not be reached for comment Friday.
>
> "I hope they make a deal that's profitable to everybody," City
> Councilman John Loffredo commented.
>
> Patrick Schiavino, a partner with Fasano on the Wonder Bar
property,
> said Friday he was "disappointed" that a deal has been reached.
> Debbie DeLisa, who owns the business with her partner, Lance
Larson,
> and with Fasano and Schiavino, said she was told about the sale
last
> Saturday.
>
> DeLisa and Larson began reviving the bar late in 2002 under a
former
> owner. Fasano and Schiavino bought the property late in 2003. Their
> liquor license is not part of the deal with Asbury Partners,
> Schiavino said.
>
> Schiavino said he had not been part of Fasano's discussions with
> Madison Marquette. Schiavino plans to close the Wonder Bar March
17.
> He said he believes the sale will go through in the next 60 to 90
> days.
>
> "I have a very bad taste in my mouth right now," Schiavino
> said. "Yes, I would like to see it stay open, absolutely. What good
> is it to have another vacant building down there? We did as much as
> we could do, not knowing what our future is."
>
> DeLisa said Friday many people are rallying on the Wonder Bar's
> behalf to keep it open.
>
> "I guess it's up to Madison Marquette," DeLisa said. "They're the
> ones who are going to be in charge. Pat and Pat (Fasano and
> Schiavino) said they're pretty solid businessmen, and they'll let
us
> stay because they're not ready for the property. It will look
better
> to have a viable business, not just an empty building."
>
> The city had delayed using its power of eminent domain to condemn
> the Baronet Theatre and Fast Lane since last summer.
>
> Asbury Partners had asked the city to begin the eminent domain
> process earlier last year, saying negotiations had broken down with
> Fasano. Fasano bought the Baronet and Fast Lane for $575,000 each
on
> Dec. 22, 2005, from former owners Walter Burns and Maurice Roberson.
>
> Asbury Partners' opening offer to Fasano was $390,000 for the Fast
> Lane and $325,000 for the theater, according to city records.
>
> Post a Comment View All Comments
>
> --------------------------------------------------------------------
-
> -----------
> The guy made a deal for himself...plain and simple. If you don't
> like what he's doing, then you should have taken a loan out and
> bought the buildings yourself.
> Yes, the guy sold out and it probably appears that he cares about
no
> one but himself but that's American capitalism. The governments
> (state and national) are all about profit and there's no compassion
> for anything else.
> It sounds cynical but that's how this country functions and nothing
> (placing emphasis) will ever change that unless you can match these
> folks dollar to dollar.
>
> Posted by: mystereo69 on Sat Jan 20, 2007 2:15 pm
>
> --------------------------------------------------------------------
-
> -----------
>
> I really THOUGHT that Pat Fasano was a REALLY "Cool" Guy! But I
> don't anymore!
>
> He CAVED on his own Values, by selling the Baronet and Fast Lane
and
> other buildings to the Redeveloper ...Including the WonderBar! Then
> left my Landlord, Marshall Sigman hanging by a thread almost alone
> on that 200 Block, as well as a few other People left on that block
> with residential properties. They now have very little hope of
being
> allowed to develop their OWN Properties into nice buildings that
> would fit well into the "New Asbury Park". And a few hundred MORE
> Tenants will be forcibly removed with a One Month Notice (Illegal)
> which has already been verbally given to many of them!
>
> Pat, you're a Coward with NO Guts at all! Or such an opportunist
> that you're ONLY interested in YOUR own needs! True, Madison
> Marquette was appropriated by Asbury Partners to develop the
> Entertainment District which I personally have been bringing up at
> City Council Meetings for 3 years that was being neglected. But you
> had little or nothing to DO with that.
>
> In fact, you've now bailed out on, and become a Traitor to, the
> dozens of People illegally facing Eminent Domain in the City! You
> personally told me AT the WonderBar about 1 1/2 Years ago that
> you'd "Never give in to those Bums, Asbury Partners!" Well, you've
> now proved that YOU can be bought, too, along with the Mayor, John
> Loffredo and Jim Bruno on our City Council!
>
> You should be ashamed of yourself as to how you bailed out on and
> threw hundreds of Residents and Business Owners to the Wolves! And
> went against your OWN Word in the Process!
>
> This event has a Story which is commonly noticed in Asbury Park ...
> Every Coward has a Price! At least Rita Marano has an excuse, she's
> @ 77 years old!
>
> Shame on you, Pat Fasano! You let Everyone down here except
> the "Goliaths"!
>
> You even Betrayed your OWN partners, Debbie & Lance, who put their
> entire Lives and Blood, Sweat and Tears into the Wonder Bar for
> years!
>
> Steve Wider
>
> Posted by: AsburySteve1952 on Sat Jan 20, 2007 10:44 am
>
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