John,
I had a client with a contract on an Esperanza unit. About 2 months
ago I took her out of the contract and got her $65,000.00 deposit
back.
The reason I counseled her to get out of the contract was that Metro
could not show me a deposit bond protecting the deposits.
They tried to convince me they had one. They kept sending me a
sample, and I kept telling them I wanted proof that one was
purchased. They gave me several excuses, but no bond, so I took my
client out and got her money back.
Just curious: Did you or your attorney ever get a copy of a bond?
Thanks- Tommy.
--- In AsburyPark@yahoogroups.com, "John C. LiDestri" <[EMAIL PROTECTED]>
wrote:
>
> --- In [EMAIL PROTECTED], "oakdorf" <oakdorf@> jrcote:
> >
> > "release me and let me go..."
> >
> > Song by many...
> >
> > "release my money, mr metro, and let me go
> >
>
> nicely done!
>
> nothing from metro yet.....hopefully this will not drag out too
long
> for the sake of the people who believed in AP and Metro enough to
> put deposits down on the Esperanza or the citizens of AP who have
to
> live with the eyesore of an inactive contruction site. This is a
> huge turn of events for the AP waterfront and I feel the final
> outcome is going to be highly dependent on how the banking,
retail,
> and housing markets rebound......everyone seems to be sitting back
> and waiting. As they say....timing is everything, very bad timing
> for Metro.
>
> If this project is not a viable one for Metro, how could it be for
> others? I guess if it is forclosed on a new developer could come
in
> and try to "steal" the property from the bank for pennies on the
> dollar? You would think whoever is financing Metro is going to
take
> a major hit? Once the project is foreclosed on, if that is its
> fate, the new developer is most likely going to have a difficult
> time getting the same 70 contracts signed.....70 out of 224 at
this
> stage of contruction and in this market would seem to be a
> reasonable number. On a cost per square foot basis they were also
> getting a pretty high number, especially the units with an ocean
> view.
>
> I am personally still committed to the area and the main draw for
me
> has been what has been done away from the waterfront with the
> arrival of entrepreneurs who have opened unique shops and great
> restaurants, as well as the people that have come in to the
> community and have bought or rented homes and have restored them
to
> their original beauty.
>
> What is scary for me is if the economic slow down will create a
> siutation where things could actually move backwards in
AP.....this
> is one hesitation. As Dan S has pointed out, AP partners also
plays
> a big role in the viability of the redevelopment and unfortunalty
> with them still in the picture this also makes me nervous. I wish
> they would just sell out at a reasonable profit and move on! We
> should start wearing t-shirts saying Stop being Pigs Partners or
> something like that. Them actually trying to be pigs is actually
> working against them as it is inhibiting the growth and activity
in
> the area. What a shame.
>
> John
>
>
> >
> > "Release Me"
> >
> > Hey please release me, let me go
> > And for I don't love you anymore
> > To waste our lives would be a shame (my money...)
> > And release me and let me love again (love = buy)
> > Oh I have found a new love dear
> > And I will always want her near
> > Her lips are warm while yours are cold (north beach)
> > And release me my darling let me go (my money, dean)
> >
> > Please release me, let me go
> > And for I don't love you anymore
> > And to live our lives would be a shame
> > And so release me and let me love again
> >
> > So please release me, let me go
> > And for I don't love you anymore
> > And to live our lives would be a shame
> > And so release me and let me love again
> >
> > Hey please release me
> > And for I don't love you anymore
> > To live, excuse me, would be a shame
> > And so release me and let me love again
> > So release me and let me love again
> > Let me go, let me go
> > (return my money, my money, my money..)
> >
> >
> > Way to much time in pennsylvania...
> >
>
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