Don't you read the triCityNews? I gave you all these answers after
interviewing Gary of MM.
I know you don't dig the paper and aren't exactly a fan of what I
write, but the answer to your questions was in there.
Cantrary to what everyone else and I believed from the Press reports,
MM is not "here." They've never been "here."
All the reports said they "invested $200 million." What - to be Art's
Ice's landlord? For the right to sell Panini sandwiches on the
boardwalk? Anyone who believes they put in, or in anyway committed to
putting in $200 long, isn't thinking it through.
Gary spilled the beans that day in the interview. He wants every condo
yet to built in Asbury Park in the Redevelopment zone. He doesn't have
that yet.
My analysis (not his admisssion) is that if he doesn't get it, he's not
coming here.
That's why I once disagreed with someone on this board (I forget who)
who kept crediting MM for the work down the beach this past year, to
the exclusion of Asbury Partners.
Remember they formed an LLC - TOGETHER. They had a disagreement in the
paper over who was ultimately in "control" of the new LLC.
Make no mistake though - operational control does not mean majority
ownership. You can set up an LLC any way you want (I've done it). You
can give operational control to a guy who owns one thenth of one
percent (not saying thats the case here - just saying that an
allegation of being in control tells you nothing).
For all we know, the CURRENT STATUS of MM could be nothing more than a
sub-contractor on the Boardwalk buildings, pending the deal to get the
condos. It could be a short term lease to MM or the New LLC.
We don't know because they ain't sayin'. That's the real point here.
The level of MM commitment in AP HAS NEVER BEEN KNOWN!
All you folks who have said how much nicer the beachfront looks this
year could be complimenting Asbury Partners, for all we know.
For further proof of what I say - see the current fight over the Wonder
Bar.
Again this is my surmise, not proof that I have from any of the parties
(but it fits perfectly with the above):
The fight for the Wonder Bar isn't Pat vs. Larry. It's Larry vs. Gary.
Gary wants that whole block (which I know from the interview). Larry
wants money for the block (obviously). They don't have a deal yet,
because they don't have a deal on the whole redevelopment zone.
Gary likes the Wonder Bar, but not enough to overpay for the property,
in a miserable market, without a deal for rights to the rest of the
properties, just to keep the WB open a few more years.
Larry likes the WB, but not enough to lower the price of the whole
block (which Gary wants) just to save the WB for a few years.
Larry won't give a long term lease to WB, because that scares away
investors, Gary included.
You can't blame Pat for wanting a long term lease - why invest more in
a property you may be force to move from quickly if a deal is struck
between Larry and Gary? Pat deserves the same assurances any of us
would want, and he's not getting them.
WB is stuck in the middle.
Again, this is my surmise. There's no bad guys here. No shortsighted
people. Just people looking out for their wallets.
It happends.
That being said, were I a rich man, I'd kick in money for the WB to
stay open. I love the place. Had my last cheesteak there last night.
--- In AsburyPark@yahoogroups.com, "dfsavgny" <[EMAIL PROTECTED]> wrote:
>
> Anyone know what the plan du jour is? There was contrary talk about a
> total over haul or a phased scenario. The last i heard there was
> supposed to be a new submission to the planning board. I just heard a
> rumor that MM is not going forward in the renovation due to some flack
> with Partners. I hear someone else is doing Larry's dirty work now.
>
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