Monday, April 09, 2007

Nice Deal For Carla Katz Corzine

HOBOKEN — State workers' union boss Carla Katz, whose romantic history with Gov. Jon Corzine has caused him political headaches and shadowed recent contract talks, enjoyed a beneficial deal when she purchased a condominium four months ago in the same riverfront building where the governor resides.

So rare were the terms of Katz's $1.1 million purchase that only one other buyer of condominium units in the Hudson Tea Building got a better price in all of 2006, in terms of the ratio of the purchase price to a unit's assessed value.

And that buyer was a limited liability corporation consisting of three men whose names are listed as executives in the company that owns the building and is selling its condominiums — Toll Brothers of Horsham, Pa., a suburb north of Philadelphia.

Full article...

And according to Redbankgreen a judge from Little Silver will be taking a look into the matter.

21 Comments:

Anonymous Anonymous said...

NEW JERSEY: Kara Homes buyers may lose deposits

6 unfinished developments sold
Posted by the Asbury Park Press on 04/10/07
BY DAVID P. WILLIS
BUSINESS WRITER

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TRENTON — Several prospective Kara Homes Inc. home buyers all but lost their deposits Monday after a bankruptcy court judge approved the sale of six uncompleted developments to developers and a bank.

An option now is to try to recover a portion of their money as unsecured creditors in the bankruptcy case, said Barry W. Frost, a lawyer for some of the Kara buyers. They would only recoup their money once secured lenders, such as banks, are paid.

Jerrold Fried, 42, of Berkeley, who put down $135,000 on a house at Kara's Dayna Estates in Toms River, is not hopeful he'll see any money.

"Unfortunately, in the end of the big bankruptcy, my wife and I are the ones that are going to suffer, and my children," Fried said. "Everybody else goes before me even though he used my money to build the development."

Two weeks ago, Kara sold six uncompleted developments for about $19 million at an auction that failed to generate much interest.

One, Dayna Estates, was purchased by Metropolitan Mortgage and Realty Inc. of West Orange and APS Contractors Inc. in Paterson.

Three others, Prospect Ridge Estates in Stafford, Hartley Estates in Little Egg Harbor and Sterling Acres in Monroe, were bought by Magyar Bank, the bank that loaned Kara Homes money to build the projects. Magyar will try to sell them on its own.

The two remaining developments, Woodland Estates and Park Meadow, both in Edison, were purchased by Fenix Investment & Development, a Morristown-based home builder that agreed in December to buy the developments. The sale was subject to the auction.

The projects were sold free of any contractual obligations.

"No great solutions"

more http://www.app.com/apps/pbcs.dll/article?AID=/20070410/NEWS/704100305

Tuesday, April 10, 2007 9:17:00 AM  
Anonymous Sally said...

Carla gave awat the store?...U must be kiddingthis is such a BAD deal for taxpayers it's sickining, Making matters worse, Governor Jon Corzine has recently offered state workers a salary package that will provide the average employee with a 35 percent increase in salary over the next four years - 13.6 percent in wage scale increases, the balance in incremental salary increases.

Tuesday, April 10, 2007 12:36:00 PM  
Anonymous House of pain said...

Mortgage woes could be 'tip of the iceberg'

Fraud, abusive lending crushes dreams for millions of home owners

By John W. Schoen
Senior Producer
MSNBC
Updated: 2 hours ago

http://msnbcmedia.msn.com/j/msnbc/Components/Video/070410/c_liesman_delinquencies_070410.vsmall.jpg


Mark and Kerrie Russo, a Jackson, N.J., couple raising two young daughters, are struggling to hang on. Less than a year after buying a home in 2005, which they financed with a 30-year fixed rate loan based on a solid credit history, a local mortgage broker began sending letters offering to refinance their loan. A new product, the sales pitch said, allowed home owners flexibility to choose from a menu of different payments from one month to the next.

http://www.msnbc.msn.com/id/17929461/

Tuesday, April 10, 2007 1:04:00 PM  
Blogger Iffpf Media said...

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On the other hand are the sellers. Sellers in such great Jersey Shore towns are reaping the benefits. There prices have been holding and they are reaping the gains. There are properties from the mid $200,000.00 range up to multi millions. Along the price range there are new and converted condos and new and completely renovated houses and of course one of a kind mansions and estates.

On the waterfront at the Jersey Shore prices are still climbing. Paul R Hauke, a Realtor Associate with Pruzack, studies and tracks the real estate values along the Jersey Shore and has found that Waterfront properties prices have been escalating. Properties with docks for boats and easy access to the Bays and Ocean are still high on demand. Small homes in such areas as Ocean Beach , with docks , can still be had for $300,000.00 to $400,000.00 with a moderately priced waterfront home with deep water docks and easy fishing access still bringing $1,000,000.00 plus. In towns like Point Pleasant Boro. Ocean front homes, both on the beach and across the street from the beaches, in such towns as Spring Lake, Sea Girt, Bay Head, and Mantoloking bring three, four and five million.

Many Jersey Shore Real Estate buyers are looking for second homes now that they can make year round homes later. Such houses between $900,000.00 and $2,000,000.00 have seen a 25 % increase in pricing. Some Jersey Shore Realtors have reported their sales up as much as 26% over last year.

Whatever your desire the Jersey Shore offers great Real Estate and great family memories and great pricing. There never has been a better time to buy and invest in real estate at the Jersey Shore.

T o view properties for sale at the Jersey Shore from Atlantic Highlands to Long Beach Island go to www.asburyparklife.com/jerseyshorerealestate.html , the # 1 source for activities, events, and real estate along the Jersey Shore.

Friday, June 20, 2008 11:54:00 PM  
Blogger Iffpf Media said...

There isn’t one day that passes that you don’t see bad financial news in the newspaper or on the television or radio. Well that’s all going to change now, especially if you live in the New Jersey Shore towns of Avon, Belmar, Spring Lake, Sea Girt, Manasquan, Point Pleasant, Bay Head, Mantoloking, Normandy Beach, Chadwick, Lavalette, Ortley Beach, or Seaside Park. According to Paul R Hauke, a Realtor Associate with Prudential Zack Shore Properties with 11 offices along the Jersey Shore, a specialist in Ocean Front, Waterfront and Resort Properties along the New Jersey Shore prices are holding steady and in many areas increasing. The reason is that people are buying along the Jersey Shore and the demand is strong. For instance many buyers who have large amounts of cash sitting in bank accounts that are earning very, very low interest have been buying Jersey Shore Resort Homes for cash. They are figuring on getting the rental money and the appreciation on the property. They figure the return will absolutely beat whatever they are earning in the bank and they also have the use of the property when not rented. Smart buyers.

On the other hand are the sellers. Sellers in such great Jersey Shore towns are reaping the benefits. There prices have been holding and they are reaping the gains. There are properties from the mid $200,000.00 range up to multi millions. Along the price range there are new and converted condos and new and completely renovated houses and of course one of a kind mansions and estates.

On the waterfront at the Jersey Shore prices are still climbing. Paul R Hauke, a Realtor Associate with Pruzack, studies and tracks the real estate values along the Jersey Shore and has found that Waterfront properties prices have been escalating. Properties with docks for boats and easy access to the Bays and Ocean are still high on demand. Small homes in such areas as Ocean Beach , with docks , can still be had for $300,000.00 to $400,000.00 with a moderately priced waterfront home with deep water docks and easy fishing access still bringing $1,000,000.00 plus. In towns like Point Pleasant Boro. Ocean front homes, both on the beach and across the street from the beaches, in such towns as Spring Lake, Sea Girt, Bay Head, and Mantoloking bring three, four and five million.

Many Jersey Shore Real Estate buyers are looking for second homes now that they can make year round homes later. Such houses between $900,000.00 and $2,000,000.00 have seen a 25 % increase in pricing. Some Jersey Shore Realtors have reported their sales up as much as 26% over last year.

Whatever your desire the Jersey Shore offers great Real Estate and great family memories and great pricing. There never has been a better time to buy and invest in real estate at the Jersey Shore.

T o view properties for sale at the Jersey Shore from Atlantic Highlands to Long Beach Island go to www.asburyparklife.com/jerseyshorerealestate.html , the # 1 source for activities, events, and real estate along the Jersey Shore.

Wednesday, June 25, 2008 10:35:00 AM  
Blogger adrin said...

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Thursday, June 10, 2010 2:05:00 AM  
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Blogger 90210sales said...

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Friday, November 18, 2011 2:16:00 AM  
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Blogger addypotter said...

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