Sandy Hook redeveloper loses lease

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					                                   INSIDE                        FREEHOLD EMERGES FROM LOSERS BRACKET. C1



                                                                                                                                                                                                              Good sign?
                                                                                                                                                                                                              Fed more hopeful on
                                                                                                                                                                                                              economy; holds record
                                                                                                                                                                                                              low rate.
                                                                                                                                                                                                              Business, Page A9
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 THURSDAY, AUG. 13, 2009                                                                                         APP.COM                                                                                                              75 CENTS


     MONMOUTH
 COUNTY EDITION

     IN THE NEWS
                                                                                                                                                                Sandy Hook
Cops: Bootleg DVDs,
CDs seized in Asbury
                                                                                                                                                                redeveloper
                                                                                                                                                                 loses lease
  ASBURY PARK — Police
seized more than
$100,000 worth of alleg-
edly bootleg DVDs and
CDs from a Bangs Ave-
nue store Tuesday.
  Three men were                                                                                                                                                        By KEVIN PENTON                         Sandy Hook and set a
                                                                                                                                                                           KEYPORT BUREAU
charged in the raid, in-                                                                                                                                                                                        precedent for private use
cluding one who was ar-                                                                                                                                            SANDY HOOK — For                             of public lands, expressed
rested last week on drug                                                                                                                                        more than five years,                           satisfaction with the de-
and weapons charges                                                                                                                                             James Wassel held a                             velopment.
after police confiscated                                                                                                                                        lease in his hands that                           “Hallelujah!” said Peter
about $1 million worth                                                                                                                                          gave him permission to                          O’Such, a Fair Haven res-
of drugs from two city                                                                                                                                          redevelop 33 buildings on                       ident who closely fol-
homes, authorities said.                                                                                                                                        Fort Hancock. On                                lowed the project’s devel-
  On Tuesday after-                                                                                                                                             Wednesday, the National                         opment for years. “For




                                         Area home prices
noon, police recovered                                                                                                                                          Park Service took it away                       the National Park Service
more than 5,500 DVDs                                                                                                                                            from him.                                       to say ‘no mas,’ to quote
and compact discs from                                                                                                                                             After spending several                       Roberto Duran, is a mile-
the 1500 Store, Detective                                                                                                                                       weeks reviewing a set of                        stone.”
Capt. Anthony Salerno                                                                                                                                           financial documents sub-                          James and Judith Stan-
                                                                                                                                                                mitted in March by Was-




                                        continue to decline
said.                                                                                                                                                                                                           ley Coleman, who headed
                                                                                                                                                                sel’s company, Sandy                            the opposition group
MORE INSIDE, PAGE B1
                                                                                                                                                                Hook Partners, the Na-                          Save Sandy Hook, could
                                                                                                                                                                tional Park Service de-                         not be reached for com-
                                                                                                                                                                termined the proposal                           ment. Through a woman
QUOTE OF THE DAY                                                                                                                                                was insufficient to meet
                                                                                                                                                                the purposes and require-
                                                                                                                                                                                                                who answered the phone
                                                                                                                                                                                                                at their Middletown
“So as long as they                                                                                                                                             ments of the 60-year

                                        But pace of sales is quickening
                                                                                                                                                                                                                home, they said they felt
                                                                                                                                                                lease, said Brian Feeney,                       “justified that our efforts
will have me, as long                                                                                                                                           a government spokes-                            were not in vain.”
                                                                                                                                                                man.
as they’ll have me,                          By DAVID P. WILLIS
                                                                                                                                                                   “It is unfortunate that
                                                                                                                                                                                                                  Wassel has 10 days to
                                                                                                                                                                                                                appeal the decision to a
                                                                             ning to see a turn in the                  The median price in
I’m going to coach                              BUSINESS WRITER
                                                                             market,” said Joel Naroff,               Essex, Hunterdon, Morris
                                                                                                                                                                Sandy Hook Partners was
                                                                                                                                                                unable to secure a financ-
                                                                                                                                                                                                                third-party arbitrator,
here.”                                    The median price for a             chief economist at TD
                                                                             Bank. “Prices have come
                                                                                                                      and Union counties fell 9.7
                                                                                                                      percent, while the area
                                                                                                                                                                ing package that would
                                                                                                                                                                                                                Feeney said.
                                                                                                                                                                                                                  Wassel said he was sur-
         — Louisville men’s             single-family home in the                                                                                               preserve dozens of impor-
                                        area that includes Mon-              down so much and the sup-                that includes Bergen, Hud-                tant historic structures at                     prised by the National
      basketball coach Rick                                                  ply of reasonably priced                 son and Passaic counties,
                                        mouth and Ocean counties                                                                                                Fort Hancock,” said Den-                        Park Service’s decision.
      Pitino, involved in an
                                        declined 11.2 percent in the         homes is high enough that                as well as New York City,                 nis R. Reidenbach, the                          He is weighing whether
   extortion scandal after a
    tryst with a woman six              second quarter, tough                I think people are begin-                dropped 14.9 percent.                     National Park Service’s                         to appeal.
                   years ago            news for sellers but a boost         ning to get off the fence                                                          northeast regional direc-                         “You never expect
                                                                                                                         Figures compiled by the
                                        to housing affordability,            and making the decision to                                                         tor, in a release.                              something like this to
                                                                                                                      Otteau Valuation Group
                                        the National Association of          buy.”                                                                                 Several of the project’s                     happen,” Wassel said.
                                                                                                                      help give a picture of what
                                        Realtors said Wednesday.                The drop follows an 11.3              is happening in Monmouth                  opponents, who felt it
                                                                             percent decline year over                and Ocean counties.                       would overcommercialize                         See Sandy Hook, Page A3
                                          The median price for a
                                                                             year in the first quarter,
                                        house in Monmouth,                                                               According to the East
                                                                             Naroff said, citing associa-
                                        Ocean, Middlesex and                                                          Brunswick real estate con-
                                                                             tion figures.
                                        Somerset counties dropped                                                     sulting firm, the median
                                        to $331,700 for the second              “The stabilizing of the
                                                                             market has occurred,” Na-                price for all homes in Mon-
                                        quarter, down from                                                            mouth County, including
                                        $373,700, the price during           roff said.
                                                                                                                      new houses and condos,
                                        the same period a year                    Sharp declines                      fell to $348,463 in the sec-
                                        earlier, the association               Other areas of New Jer-                ond quarter, an 11 percent
                                        said. The median price for           sey saw steep declines as                decline over the period a
FIVE TIMES                              a condominium dropped to
                                        $254,100, down 6.3 percent.
                                                                             well. The median price for               year earlier. In Ocean

FASTER                                    The median price means
                                                                             an existing single-family
                                                                             home in the Atlantic City
                                                                                                                      County, the median fell to
                                                                                                                      $225,906, a 10 percent de-
NJ Transit to upgrade                   that half the homes sold             area fell 14.5 percent, while            cline over the second quar-
dial-up ticket machines                 for more while the other             in the Trenton area it                   ter of 2008.                                                                                                 PRESS FILE PHOTO

to fiber-optic.                         half sold for less.                  dropped 20.3 percent, the                                                          Sunset over the bay as seen from Fort Hancock on
                                          “I think we are begin-             association said.                              See Prices, Page A3                 Sandy Hook.
STORY, PAGE A4


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                                         Dwek bankruptcy trustee sues yeshiva                                                 By FRAIDY REISS
North Carolina school                                                                                                                                       Deal Yeshiva, accusing the                        tions are continuing,” was
                                                                                                                        COASTAL MONMOUTH BUREAU
district that’s allowing                                                                                                                                    school of helping Dwek to                         all the senior Dwek would
a peace activist a                                                                                                                                          perpetrate a Ponzi scheme                         say.
                                                                                                                         WEST LONG BRANCH — So-             by allowing him to funnel
chance to coax                                                                                                                                                                                                  A private Sephardic Jew-
                                                                                                                      lomon Dwek’s real estate              $13 million through two ye-
students away from the                                                                                                                                                                                        ish school for students in
                                                                                                                      dealings left him accused of          shiva bank accounts. The
military.                                                                                                                                                                                                     preschool through grade 12,
                                                                                                                      owing some $338 million to            trustee is demanding the ye-
                                                                                                                      more than 80 banks, compa-                                                              Deal Yeshiva maintains a
                                                                                                                                                            shiva return the money.                           girls division in West Long
                                                                                                                      nies and former business
                                                                                                                                                               Meanwhile, teachers at                         Branch and a boys division
                                                                                                                      partners. His hidden wire
                                                                                                                                                            the school that five years                        in Ocean Township. As of
                                                                                                                      last month helped the FBI
                                                                                                                                                            ago reported nearly $10 mil-                      2006, the most recent year
                                                                                                                      take down 44 suspects, in-
                                                                                                                                                            lion in income now say Deal                       for which public records
                                                                                                                      cluding politicians and rab-
WEATHER                                                                                                               bis.
                                                                                                                                                            Yeshiva owes them up to six
                                                                                                                                                            months’ worth of salary.
                                                                                                                                                                                                              were readily available, Deal
                                                                                                                                                                                                              Yeshiva had 348 students.
Isolated storms                                                                                                         But the latest casualty in             Rabbi Isaac Dwek, the                             Solomon Dwek served as
High: 75; Low: 65                                                                                                     the story of the disgraced            founder of the yeshiva, de-                       vice president of the school
FORECAST, A2                                                                                                          mogul turned FBI informant            clined to comment for this                        from 1997 until 2006, when
                                                                                                                      may be more personal: the             story other than to deny                          he resigned after he was ar-
                                                                                                                      yeshiva his parents founded           teachers’ reports that the                        rested by the FBI on charges
BREAKING NEWS                                                                                      PRESS FILE PHOTO   more than 20 years ago.               boys high school division                         of committing $50 million in
ON YOUR CELL PHONE:                     Teachers at the Deal Yeshiva on Wall Street in West                             The court-appointed trus-           will not reopen in Septem-                        bank fraud.
               Text APPNEWS to
                                        Long Branch say they are owed up to six months’                               tee of Dwek’s bankruptcy              ber.
               44636 (4INFO) to         worth of salary.                                                              case has filed suit against              “All educational institu-                          See Yeshiva, Page A3
               get breaking news



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         BUSINESS A9
          COMICS B8                                                                                                                                          MICROFIBER
                                                 By MATT PAIS                sive Supervision Program,                found people sleeping in at-           SOFA AND CHAIR!
        DATEBOOK A4                               STAFF WRITER
       EDITORIALS A17                                                        were targeted for inspec-                tics, disconnected fire
          MOVIES B7                                                          tion after a three-bedroom               alarms and missing carbon
       OBITUARIES A14
                                          Home inspections car-              home on Route 9 housing                  monoxide detectors, said
          SPORTS C1
                                        ried out by the state De-            13 men was gutted by                     DCA spokesman Chris
            TV B7                       partment of Community                flames, killing 23-year-old              Donnelly.
                                        Affairs in the wake of a             Frank Klekner of Bridge-
  A GANNETT NEWSPAPER                   fatal fire at a rooming              water.                                     The state Judiciary,
                                        house in Toms River have                                                      which operates ISP, has
                                        uncovered overcrowding                 Inspectors began the                   ended referrals to houses
                                        and other violations at 12           checks on Friday at homes                found to be delinquent in
                                        homes used by a state pro-           in Neptune, Asbury Park,                 safety requirements, said              Color: 29 chocolate
                                                                             Toms River, Lake Como                    Tamara Kendig, spokes-
                                                                                                                                                             BOTH PIECES!
                                                                                                                                                                                                             JENNIFER
                                        bation program.
                                                                             and Point Pleasant. They                 woman for the judiciary.
                                          The homes, all used by
                                        the state Judiciary’s Inten-              12 SHORE FACILITIES CITED AFTER CHECKS/A3                                   Call 1-800-JENNIFER                             SOFAS & SOFABEDS
                                                                                                                                                            Delivery & sales tax additional to be paid at time of purchase.
 Martell’s Tike Bar, 732-892-0131        Martell’s Tiki Bar, 732-892-0131     Martells Waters Edge, Bayville          We Connect Buyers and Sellers! Call   Sell your car! List it in the classifieds!       Check out Open Houses in Classified
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