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48°
Monday, nov 25
Tag:
Real Estate Development
Politics
Meet Andy Kim, Curtis Bashaw: NJ Politicians Vying For Menendez's Former Seat
Rep. Andy Kim, D-NJ and Curtis Bashaw, a business owner, are running for Sen. Bob Menendez's old senate seat after the disgraced senator resigned following his conviction on felony corruption charges. Here's a little bit about the two candidates: Kim has represented New Jersey's 3rd congressional district since 2019. He jumped into the race upon Menendez's indictment and fended off a challenge from First Lady Tammy Murphy, whose campaign struggled, forcing her to drop out before the primary. Kim's lasting impact in the race may be upending New Jersey's controversial "line" system. A j…
News
NJ Real Estate Developer Fred Daibes Pleads Guilty To Bank Fraud
Fred Daibes, a 67-year-old real estate developer previously convicted of bribing disgraced New Jersey Sen. Bob Menendez, pleaded guilty to bank fraud on Thursday, Sept, 5, authorities said. The former CEO and chairman of the board of directors at Mariner's Bank pleaded guilty in Newark federal court to making false entries in connection with a $1.8 million loan from his bank in 2008, US Attorney Phillip Sellinger said. Daibes said the line of credit was for someone else, when it was actually for his benefit, Sellinger said. The loan said the source of repayment would be from the p…
Real Estate
Luxury Hotel Replacing 3 Motels In Jersey Shore Borough Long-Reputed As Party Town
A Jersey Shore town that gained a reputation for being one of the best places to party while down the shore is getting a rebrand. And it's in part due to a luxury hotel set to replace three of the motels in Seaside Heights that haven't exactly been helping the family-friendly atmosphere. In a 6-0 vote last month, Seaside Heights council members approved the designation of a Boston-based redeveloper for the hotel, to be built on the Lincoln Avenue and Ocean Terrace lots where Dry Dock, Glendale, and Surfside motels currently stand. The firm, 6M Development, shared a brief description of the…
News
Ex-Deputy Mayor Of Newark Admits Taking $25K Bribe In Restaurant Bathroom: Feds
Carmelo Garcia, who previously served as deputy mayor of Newark and one term in the state General Assembly, admitted to taking $25,000 in bribes, federal authorities said. Garcia, 49, pleaded guilty to conspiring with two Newark business owners to obtain corrupt payments intended to influence and reward him for assisting them with the acquisition and redevelopment of various city-owned properties while serving on the Newark Department Economic and Housing Development, U.S. Attorney Philip Sellinger said. Between 2017 and 2019, Garcia sought and received significant mone…
News
Long-Vacant North Jersey Movie Theater Finally Getting Its Happily Ever-After
After several years of vacancy, a Montclair movie theater will soon be brought back to life. The Tudor-style Bellevue Theater in Upper Montclair has sat vacant since the prior operator's lease ended 2017, but at a meeting on Monday, June 10, redevelopment plans were unanimously approved. Bellevue Theater in Montclair. Google Maps The plans call for transitioning one of the four theaters into retail, there by connecting Upper Montclair Plaza to the retail of Bellevue, "a great win for all," said a spokesperson for RHG Architects + Design, who are working on the project. The…
Business
$500 Million Open-Air Redevelopment Of Monmouth Mall Begins
A more than $500 million project to transform a Monmouth County mall into an open-air town center has officially begun, officials said. A groundbreaking ceremony was held on Thursday, May 9 at the Monmouth Mall in Eatontown, developer Kushner said in a news release on Monday, May 13. The mall will be redeveloped into a modern center with luxury apartments, new retail options, and medical office space called Monmouth Square. Kushner said the project to "de-mall" the property off Route 35 will bring a new purpose to the historic Monmouth Mall, which has been open for 64 years. …
Business
Popeyes, Arby's Replace Former NJ Supermarket, 'Huge Crowd' Expected
Fast food fans in Warren County have waited long enough. A Popeyes and an Arby's are opening at 680 Memorial Pkwy. in Phillipsburg, at the site of a former Ahart supermarket. The Popeyes will be hosting a ribbon cutting ceremony on Friday, Jan. 12 at 4 p.m. while the Arby's will be opening on Tuesday, Jan. 16. Zach Liptak, owner of Phillipsburg-based ZRL Real Estate and Construction oversaw the project, which began in June 2022 when the original supermarket was torn down. Construction began last August and Liptak said they got the okay to open at 10 a.m. Friday morning. "I cannot tell you …
Business
NJ Mall Is Getting Major Overhaul Complete With Luxury Apartments, Outdoor Entertainment Space
A major redevelopment of Monmouth Mall is about to begin, transforming the shopping center into luxury apartments, new retail options, and a town center. The developer, Kushner — with headquarters in Florham Park and New York City — is planning to convert the 64-year-old mall on Route 35 in Eatontown into a large attraction called Monmouth Square. Kushner's chief development officer Michael Sommer said the redevelopment will turn the mall inside out by tearing down indoor halls to create an open-air concept, with demolition set to begin in March. The intent is to …
Business
North Jersey Sheraton Hotel Closes After Nearly 40 Years
The last guests have checked out. The Sheraton Hotel in Mahwah, which opened in 1986, officially shut its doors on Thursday, Dec.14, to be replaced by two warehouses at the 1 International Blvd. site. The 22-story hotel was the tallest structure in the township. "It's been a big part of our town for 37 years," Mayor Jim Wysocki said. "I was here when it was built. It was part of our family." The Sheraton employed many residents while also being the go-to spot for parties and weddings, Wysocki said. "It was a major part of our township," Wysocki said. "It's going to be tough."…
News
$2.7B Project Will Turn Old Atlantic City Airport Into Formula 1 Racetrack
A $2.7 billion development project is set to turn an old Atlantic City airport into a Formula 1 racetrack with condos and stores, officials said. Atlantic City Council gave the go-ahead, by an 8-0 vote, to the project to redevelop Bader Field during a meeting on Wednesday, March 22. Mayor Marty Small Sr. held a ceremony to sign the Memorandum of Understanding with the project's developer, DEEM Enterprises LLC, at Bader Field on Thursday, March 23. "Not only is it a great day, it's a historic day," Small said. "This has been a long time coming." It will give taxpayers relief, and redu…
Real Estate
Historic Jersey City Matzo, Tea Factories Redeveloped In $121.5 Million Deal (
Photos
)
A luxury home developer is partnering with a New York City company to develop a Jersey City condominium community located in an area formerly home to the historic Manischewitz matzo factory and Great Atlantic and Pacific Tea Company warehouse. Toll Brothers and Sculptor Capital Management will be developing the 34-story 259-unit building at 151 Bay St., in Jersey City. Located within the Powerhouse Arts District in Jersey City, 151 Bay St. is being financed through a $121.5 million construction loan from Wells Fargo. The development will consist of 259 studio- to three-b…
Business
South Jersey Realtor, Ex
-nfl
Player Files Federal Discrimination Lawsuit Against Town Officials
A black real estate developer in Burlington County has filed a lawsuit alleging former township officials discriminated against him and often called him by racist and other derogatory terms. Kevin Johnson, a former NFL player, filed the federal legal action last week against Bordentown Township, according to NJ Advance Media. Defendants include ex-Police Chief Frank Nucera, who also served as township administrator from 2010 to 2017 and was involved in development decisions. Johnson’s lawsuit claims that other developers were given smoother approvals and much more lenient building decision…
Police & Fire
Longtime Hudson County Political Fixer Tied To JC Mayor Indicted By Federal Grand Jury
A federal grand jury returned an indictment Tuesday against a former political operative from Hudson County who’s accused of evading taxes on payments from builders and developers to expedite their projects, among other crimes. Thomas “Tommy” Bertoli, 62, a North Bergen native now living in Matawan, has worked political campaigns throughout the state for more than 40 years -- among them, Jersey City Mayor Steve Fulop’s successful 2005 council run and victorious 2013 mayoral campaign. Federal authorities zeroed in on the Bertoli’s dealings with builders and developers through several of…
Police & Fire
Feds Charge Longtime Hudson County Political Fixer Tied To JC Mayor With Tax Evasion
A former rough-and-tumble political operative from Hudson County who helped run campaigns for Jersey City Mayor Steve Fulop, among others, was arrested Wednesday by federal agents who charged him with evading taxes on payments from builders and developers to expedite their projects. Thomas “Tommy” Bertoli, 62, a North Bergen native now living in Matawan, has worked political campaigns throughout the state for more than 40 years – among them, Fulop’s successful 2005 council run and victorious 2013 mayoral campaign – after starting out as a street organizer. Bertoli, who earned the nickname “…
Real Estate
Jersey City Moves Forward With Largest Mixed-Income Development Site In Tri-State Area
The first phase of the redevelopment plan for Jersey City's Bayfront property -- the largest mixed-income development site in the region -- was announced Tuesday amid the coronavirus pandemic. The Bayfront Redevelopment Plan will transform the once contaminated site along the Hackensack Riverfront into the centerpiece of the West Side revitalization, Innovate JC said in a release. Jersey City expects to break ground on Bayfront's infrastructure work in the fall. Phase one consists of the development of four parcels within the area upon which a total of 1,092 units will be built in mu…
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