--- In [email protected], Allan Peterson <[EMAIL PROTECTED]> wrote:
>
> I understand Fasano is not given the building. The same as Asbury Partners
> was not
given the waterfront.
I really do not understand what you are attempting to say with that. There is
no parallel
between a transaction involving private parties and the sale of assets that
belong to the
public.
While I could sell my home for $1 if I so choose, a municipal body is held to
a higher
standard when dealing with public property and violated the publics trust by
not even
obtaining appraisals.
>
> The purchase price might have been fair when it was part or the
> redevelopment
however the value increases when or if it becomes excluded.
A private party transaction, regardless of the inclusion/exclusion from
condemnation, is
just an agreed to deal without duress. So what if you buy a property for $1
that is worth
$500K. Good for you. Much different than a forced sale at a forced price below
market
value.
What exactly is your point?
>
> Also if you believe $575 was a fair price for a building on the waterfront,
> then the city
did not do so bad selling the vacant triangle lot for over 450
Allan, you seem to be mis-informed, the Baronet is not "on the waterfront", it
is a small
parcel, two blocks inland, limited in height far below that of the triangle.
The triangle is
actually "on the waterfront"
The triangle is public property, and the Council is obligated to get its
maximun value for
the taxpayers.
Werner
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