(Save the date: RealShare New Jersey comes to the Hyatt Regency, NewBrunswick, NJ, September 19.)
ASBURY PARK, NJ–A new agreement gives the national developeriStar Financial full control over residentialdevelopment in the beachfront redevelopment area here.Madison Marquette retains control over retaildevelopment on the Asbury Park waterfront, which includes allboardwalk storefronts and iconic venues such as The ParamountTheater, The Convention Center, and The Stone Pony.
The deal involved an exchange: Madison Marquette contributed 5.7acres of residential land to iStar in return for a minorityinterest in Asbury Partners, which is iStar’s subsidiary serving asmaster developer in Asbury Park.
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