Monday, January 25, 2010

Owner of Monroe Tower Dies

Ted Murnick, owner of the affordable living building called Monroe Tower, died early Sunday morning, January 24th, after a long illness. Funeral services will be held tomorrow, January 26, at 12:30 pm at Congregation Oheb Shalom, 170 Scotland Road, South Orange. Interment at Beth Israel Cemetary, in Woodbridge, will follow. Donations can be made in his memory to The Theodore and Maxine Murnick Family Endowed Fund for Asthma Research at National Jewish Health, or by mail to POBox 17169, Denver, CO 80217-0169. You should include "Family Fund" in the memo portion of the check.
According to local lore, Murnick was preparing a plan for redeveloping the waterfront as the deal was being sealed in a bankruptcy court in Bridgeport, Conn., among the Fishman brothers and MD Sass, who later became Asbury Partners LLC, and the previous, failed waterfront developer Joe Carabetta. The Partners returned from Conn. with the redevelopment rights and the tax lien deal (50c on the dollar) in hand.
I met Murnick once. It was at the sentencing hearing in Federal Court in Newark for former Asbury Park City Manager Terry Weldon, who, despite his nearly five year sentence for extortion, was still being credited as the architect for the city's current waterfront renewal. There were only a handful of people in the courtroom, so I asked Murnick who he was. He didn't want to be quoted. I don't recall his exact words at the time, just that his demeanor was of a man who'd waited a long time to see justice.

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