bgerminsky's blog

Class A Medical & Professional Office Space

bgerminsky — Thu, 13 Mar 2008 18:30:44 -0700

Class A

Medical & Professional Office Space

Anticipated Occupancy – Spring 2008

294 Highway 35 S.

Eatontown, NJ

Overall Building Size 20,727 SF
Ground Floor Rentable Area 2,467 SF
2^nd & 3^rd Floor Rentable Area 9,130 (each)

Centrally located between 2 Major Hospitals
Monmouth Medical Center, Long Branch (Appx. 5 miles)
Jersey Shore Medical Center, Neptune – Regional Trauma Center (Appx. 6 miles)

Located in the heart of Eastern Monmouth County on Highway 35
Accessible via Routes 18, 36, 33 & Garden State Parkway
Minutes to Monmouth Mall & Monmouth Racetrack

Close to:

Public transportation

Dining

Shopping

Hotels

Banks

Recreation

Golf Courses

Many Retail Establishments

No warranty or representation, expressed or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by our principles.

Asbury Update!

bgerminsky — Tue, 12 Jun 2007 07:29:23 -0700

Wave of change hits Asbury's waterfront

Posted by The Asbury Park Press on 6/12/2007

By Nancy Shields
COASTAL MONMOUTH BUREAU

ASBURY PARK — Asbury Partners and Madison Marquette closed Monday on their joint venture agreement to restore and build a new entertainment and retail sector on the city waterfront.

Hugh Lamle, president of M.D. Sass, the lead investor in Asbury Partners, and Gary Mottola, managing director of investments for Madison Marquette, would not provide details of the companies' financial arrangement.

But they made it clear that Asbury Partners will remain a partner with approval powers over plans and budgets, that Mottola will be the managing partner, and that his national retail company would be bringing $150 million to $200 million into the development.

The partners spoke of this year's progress and what's coming at a meeting with the Asbury Park Press editorial board at the Paramount Theater on Ocean Avenue.

Mottola said when his company began to move beyond the concepts stage earlier this year, he wanted to put the Paramount to the side.

"When I first looked at this (the theater), I was going to mothball it," Mot-tola said. "Who knows how long it will take? We were going to put it off to the side but every time I walked in, I said this was too gorgeous."

Now the theater is being restored with approvals from the state historic preservation office, and an opening with a play by New Jersey playwright Ben Clausen is planned for June 28. Metro Lyric Opera will follow soon after along with a full summer schedule to be announced.

Madison Marquette took on renovating the old Howard Johnson's restaurant in the Fifth Avenue Pavilion into the new Salt Water Beach Cafe, which opened Memorial Day weekend. Mottola said the project was completed in 49 days.

And, he said, Asbury Partners, the city's master redeveloper for nearly six years, agreed to accelerate repaving work and improve the medians on First and Second avenues.

The next steps, Mottola said, will be to finish the second floor of the Fifth Avenue Pavilion by September so that it can be used for weddings, parties or public events to draw people to the beachfront year-round.

David Rockwell, a New York architect, is designing the pavilions, both new and rebuilt ones. There will be six in all on the boardwalk.

Mottola said plans call for using the green spaces between the pavilions for special entertainment attractions, such as an observation tower with a water slide, miniature golf, a Ferris wheel or a carousel.

Hotel, more parking

And investors plan on building a 25-story hotel in the entertainment sector by Wesley Lake. There are plans to create an additional 1,000 parking spaces beyond the number originally planned. Many of these could be in new condominium buildings, and the partners will talk to city officials about allowing taller buildings to make up for space used for parking.

"We will be going into negotiations soon," said Deputy Mayor James Bruno a few hours before the editorial board meeting. "We're going to negotiate a global settlement for all of the issues that are out there."

Some of the plans will involve amending the waterfront redevelopment plan.

Lamle described the plans as a "major revamp of what we originally agreed to do," adding that Asbury Partners "couldn't provide any assurances in 2001" of what was coming because they did not yet have a national retail developer on board.

Mottola said the Casino, the eastern portion of which is being rebuilt in its historic shape, will be a "festival public market" on the first floor but could have a second floor with musical venues. The Casino will be completed by 2010, he said.

He added that he had decided whether The Stone Pony will relocate, but said the landmark music club will definitely be a part of the entertainment venue. A new plaza outside the Casino going westward toward Cookman Avenue is another key element of the plan, he said.

"Our whole goal here is to make this a year-round destination and a daylong destination," Mottola said.

Condo dwellers arrive

The rest of the waterfront plan focuses on new condominiums, now under construction with some units occupied. Progress is slower than initially planned, resulting in less tax revenue for Asbury Park. The state had to bail out the city with $7.5 million for its 2007 budget.

Lamle said 40 condo units have been occupied in North Beach and Wesley Grove.

Larry Fishman, Asbury Partners' chief operating officer, said 257 condominiums are expected to be on the city's tax rolls in 2008.

"I think the city's going to have to plug that gap for another year," he said of the city's budget shortfall.

Eatontown History

bgerminsky — Sun, 20 Aug 2006 19:39:07 -0700

Eatontown History

Introduction

Eatontown began as most towns do, with commerce.

In 1670, Thomas Eaton came from Shrewsbury to survey the shores of Mill Brook (now called Wampum Brook.) He decided to create water power for a mill that would grind farmers' grain into flour.

By 1796, Eatontown's business district included a tannery opposite Mill Pond; a tavern on the corner of Main and Broad Streets called The Eatontown Inn; and a general store on the east side of Main Street. Today, this section of town is called The Village.

In 1873 the New Jersey State Legislature made the name of Eatontown official.

Getting Around

Some of the local roads follow the trails created by the Lenni Lenape Indians who originally came to Eatontown, NJ from Delaware. One north-south trail became the Eatontown-Red Bank Turnpike. It used to connect Main Street to South Street to Wall Street. In the 1920s it was straightened out when it became a state highway (Highway 35.)

A second north-south trail was the Eatontown-Long Branch Turnpike. Today it is Broad Street where many historical houses are still standing. One of them is the Eatontown Museum that is open the last Sunday of every month.

The Colts Neck-Eatontown Turnpike (today known as Highway 537), located just north of the old Mill Pond, was a main road for farmers to bring in their produce from Colts Neck and Freehold.

The Indian trails are a crossroads for modern commerce. The site of Eaton's Mill anchors the northern end of town. Monmouth Mall, built in 1959 on a former farm, is the center of town. Industrial Way, where a colonial woman once homesteaded, runs along the southern border.

Schools

Eatontown education has a long tradition that began when Quakers opened the first school in 1806. Throughout the 19th and 20th centuries there have been a variety of one-room and two-story schoolhouses around town.

The Eatontown Board of Education was organized in 1894. It built its first school -- a six room, two-story brick building -- on Broad Street in 1907.

One famous citizen, Fred G. Steelman, came to teach in 1916. He took a short leave of absence to serve in the military during World War I. He returned to teach, and was principal until 1940. Eatontown Public School No. 1 was renamed in his honor in 1955. The Board of Education has its offices here today. Some of the original classrooms are still used for teaching.

Fort Monmouth

Eatontown has had a long association with Fort Monmouth. Just after the United States entered World War I, the War Department bought most of the original Monmouth Park Race Track, creating the Signal Corps Camp.

The war made it necessary to train large numbers of telegraphers and other communications personnel. The camp was renamed after Alfred Vail in honor of the New Jersey inventor who helped develop the Morse telegraph.

The first method of communicating behind enemy lines was by carrier pigeon; many were trained here. The War Department declared the camp a permanent military post in 1925, and named it after an American Revolutionary battle.

Fort Monmouth was the first to develop many communication methods used today. Innovations begun here include:

aircraft radar detection
walkie talkies
weather tracking devices

The Real Estate Appraising Process

bgerminsky — Tue, 08 Aug 2006 08:22:47 -0700

The Real Estate Appraising Process
By Evan Siegel
Certified Licensed Appraiser

“How does the appraisal work?” This is the most often asked question residential real estate appraisers hear from home owners at the front door step during the home inspection. There are a variety of factors that are considered in the appraisal process, including the inspection and the appraisal report in order to conclude a value of property.

The appraisal process begins with an inspection of the subject property. There are a number of different styles that appraisers have when inspecting the home. Common practice is to inspect the interior first. When inspecting the interior, the appraiser will walk around the home, sketching a floor plan, and observing the structure, condition, and amenities. Interior photos are often taken with the ease of today’s digital cameras. The appraiser should ask if there have been any recent improvements to the home.

The exterior inspection usually follows. During the exterior inspection, the appraiser will measure the perimeter of the home to acquire a calculation for the entire square footage. During the measurements, the appraiser will inspect the quality and condition of the exterior property. Finally, photos of the front, rear, and street are taken.

Once the inspection is complete, the appraiser will begin the report writing process. The appraiser inserts all the information collected at the inspection into the report. Then the appraiser will search in the Multiple Listing Service or tax records for similar homes in the subject’s area that have sold recently and compare them to the subject property. Some items of comparison are the location, lot size, square footage, room count, market condition, construction, style, view, condition, and amenities. Each property that is being compared will have value adjustments given to it for items that are not similar to the subject. After the comparison is complete, the appraiser arrives at a final value for the subject property based on the adjusted values of the properties that are being compared.

Real estate appraising has been listed in the top ten jobs in America in the 2006 edition of Money Magazine. The primary reasons are the availability of positions, flexibility of hours, variety of work, and the salary.

Evan Siegel, the author of this article, has also been quoted in the Wall Street Journal in the article “Refinance or Not?” With years of experience in the field of real estate appraising, Mr. Siegel owns and manages American Realty Appraisals which covers the entire state of New Jersey. You can contract Mr. Siegel at Evan@ARAppraisals.net.

Ten Tips for Selecting a REALTOR

bgerminsky — Tue, 25 Jul 2006 11:58:04 -0700

10 Recommendations for Choosing your Licensed Professional Real Estate Agent.

As a prospective homeowner, selecting the right real estate agent is critical. Your REALTOR^® will keep you abreast of this rapidly changing industry, swings in market conditions, and the availability and demand for property inventory in Monmouth county communities such as Colts Neck, Long Branch, Little Silver, Rumson, Spring Lake or Belmar. Your agent also guards your legal interests (along with your attorney) when facing tough negotiations or confusing contracts.

The safest way to hire a strong real estate agent is to interview more than one specialist.

Here are 10 tips to guide you:

Identify at least three licensed real estate professionals.

Look around your neighborhood. Do you see realtor's signs? Call these realtors and arrange interviews.
Use the Internet. You're already on www.bruce-germinsky-realtor.com so it's easy to search for a REALTOR® using your favorite search-engine.
Ask a neighbor or friend. Who helped them buy their home? Which real estate agent in Monmouth County would they hire if they decided to buy in Sea Bright, Shrewsbury, Fair Haven or Oceanport?

Interview the real estate professionals you have identified. Having a conversation with the person is a good way to find out if your personalities and goals match. Here are things you want to ask:

"Are you a REALTOR^®?" You will have the best luck finding the right home if you work with a REALTOR^®, not simply a real estate agent. REALTORS are members of the National Association of Realtors. They are generally full-time agents who have committed financially, educationally and professionally to being an expert in the real estate industry.
"How often will you notify me of new listings?" In some markets, houses enter the market and sell within the first hour. You need a REALTOR^® who is serious about finding a home you'll love. Buyers should expect to hear from their agent whenever a home matching their description appears on the market.
"How often can I expect to hear from you?" Just because your dream house isn't on the market yet doesn't mean you won't have questions. Be sure to work out an arrangement with your REALTOR^® from the beginning.
"How quickly can I expect you to return phone calls?" You don't want to be ignored. If the REALTOR^® doesn't have a callback policy ("You'll hear back from me within two hours/30 minutes/before the day ends"), you may not get the service you expect.
"Are you a full-time professional REALTOR^®?" "Hobby agents" aren't as capable of meeting your expectations because their attention is divided by other responsibilities. Limit your search to full-time real estate agents.
"Who will you represent in my real estate transaction?" The REALTOR^® representing you may be a subagent for the seller (not what you want as a buyer). Find an agent who can truly represent your interests without having to bow to another client. You may want to consider hiring a Buyer's Agent.
"Will you give me your honest feedback?" Avoid "yes-men." If you can't find your dream house because it simply doesn't exist at the price you've quoted, you need more options. When you find a strong Monmouth County real estate agent, you get more out of each meeting.
"How long have you actively worked in the area?" While the answer to this question shouldn't necessarily be a deal-breaker, a Monmouth County REALTOR^® who has worked in the area a long time may be more aware of properties that match your description.

Compare interview notes. Think about each agent, and decide which one is right for you. You should choose someone aggressive, but who doesn't make you feel anxious or pressured.

Experience pays. Experienced real estate agents in Long Branch, Deal, Little Silver, Ocean Township, Rumson, Sea Bright and throughout Monmouth County often earn designations that separate them from the pack. These designations are earned through training that helps the agent become a specialist in certain areas. Pay attention to agents who have designations listed after their names on business cards. Specifically ask the agent what each one means.

Find a Monmouth County REALTOR^® who is savvy about technology. Through the online tools available to agents these days, you can expect nearly immediate e-mails about new property listings and quick replies to your queries.

Ask for references from your REALTOR^®. This shouldn't be a big deal; it's a last-step investigation that could confirm or reject your impression of the agent.

Before signing a contract, know that the term "Disclosed Dual Agent" often means that the real estate agency does not represent your interests 100 percent. Try using a Buyers Agent to represent you.

Buyer agency agreements are common, but be careful. What if the Realtor doesn't follow up with you? What if you don't get along? What if the agent doesn't understand your needs? Remember that a buyer agency agreement is negotiable, and you can help negotiate the specific terms.

Select a strong negotiator. Ask your Monmouth REALTOR^® whether he or she has ever been in a tough negotiation and how he or she negotiated a fair price.

Talk money. Usually the seller foots the bill for a real estate professional's commission, but don't assume this will be the case. Ask point-blank what your financial obligations are throughout the process. Your Monmouth real estate agent at Barry Associates, LLC has the knowledge and experience to provide you with a smooth, hassle-free transaction.

Call today to discuss your Real Estate needs and to meet YOUR Monmouth County Realtor®

732-531-9001 (office)

908-463-3559 (cell)

New Projects in Asbury Park

bgerminsky — Tue, 25 Jul 2006 04:09:40 -0700

The re-development of Asbury Park is booming with condomimum, townhouse and high-rise projects all underway. Wesley Grove is a 750 unit development, the North Beach project is well underway and the Esperanza will begin construction shortly.

Contact me for information on any of these projects at 908-463-3559 or email me at

bruce@bruce-germinsky-realtor.com

and we can discuss investment opportunities in Asbury or any number of Monmouth County communities.

New Real Estate Projects in Long Branch

bgerminsky — Mon, 24 Jul 2006 09:57:07 -0700

There are two very exciting proposed developments in Long Branch. These properties are currently called The Diplomat and Beachside. The Beachside property is just south of The Renaissance on the Ocean community and The Diplomat is just north of the Renaissance.

Check back for updates.