--- In AsburyPark@yahoogroups.com, "fancypaaantz" <[EMAIL PROTECTED]>
wrote:
>
> 1. Does AP not already have a bunch of high end units that are not
> selling? Should we not wait until we deplete the inventory a bit before
> we add to it?
>
> 2. Um, I seem to remember pretty significant flooding around that area
> a few years ago when we got a bunch of rain. What happens if (when) we
> get hit by a hurricane? Is that really the best spot to build?
>
That area is subject to flooding and is the filled in former outlet
of Deal lake to the Ocean. The state has a claim on 75% of that land
and the claim has to be bought from the state. The purchaser has to
supply an appraisal. I contacted the state appraiser a few years ago
about this to tell him that there would be major smoke rings blown up
his ass by Asbury Partners. Haven't spoken to him in a while since the
issue has been quiet. I just sent him a copy of the article.
If they are going to develop it, let them pay someone a fair amount of
money for it. We got a pittance. IMHO I do not think that it should be
developed.
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