Asbury Partners Defaults on Loan, Properties To Be Sold
Asbury Partners LLC has defaulted on it’s loans and its interests will be sold Dec 15,th 2009. While we understand that economic times are difficult, we believe that this turn of evens can only be beneficial to Asbury Park.
This means that the Partners, who have been holding our city hostage for the last two years, will now be forced to sell to developers who actually plan to do something with our waterfront. We can only hope that the assets and/or properties offered for sale will be purchased not by one entity, but multiple smaller companies investing in Asbury Park by purchasing individual properties. This will eliminate the “All our Eggs in One Basket” syndrome AP has suffered from for decades.
In the coming weeks we will learn the full ramifications of these events. Perhaps one day this city’s people and government will realize that they have the power to take back our town.
For more on this story, see;
http://www.app.com/apps/pbcs.dll/article?AID=200991125123
http://www.4hoteliers.com/4hots_nshw.php?mwi=6661
For a story inspired by AllAsburyPark.com on WNYC (NPR), see;
http://www.wnyc.org/shows/bl/episodes/2009/08/27/segments/139537
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