Wednesday, February 9, 2011

Hopeful Valentine's Day Present: Sheriff's $22.4M Sale of Esperanza

Metro Homes' lender, Capitol One Bank, has scheduled a sheriff's sale of $22.465M for the condo development project, called Esperanza - "Hope" in Spanish- for Valentine's Day, February 14th. 
The date is at least the third one scheduled for the sale of The Esperanza Urban Renewal LLC property at 1101 Ocean Av, between Third and Fourth avenues in Asbury Park, by its lender.
The City of Asbury Park has written a letter to Metro, apparently concerning its rights to develop the site. AR will post the letter when we get a copy.
The attorney listed is Reed Smith LLC, 609-978-0050.

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