Monarch condos sign regularly blows over in gusty weather.
Coming down Plainfield East Front Street the other evening, I noticed a lone third-floor window lit up in The Monarch condos, the development by Glen Fishman/Dornoch/P&F Management.
With only a single unit sold and closed, the project is languishing despite the best efforts of TWO local real estate powerhouses -- ERA Reed Realty and Sleepy Hollow Realtors -- to get buyers for the project.
Now comes word that the city of Rahway is preparing an ordinance to buy a vacant property that Dornoch defaulted on (see Rahway Rising, here).
How long can P&F sit here in Plainfield with all these unsold units?
How long can the City afford to wait for some ratables or PILOT payments to show up from the project?
- Rahway Rising: "City moves to buy Beverage Shop building"
-- Dan Damon [follow]
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1 comments:
It is a shame that anyone thought that people would be willing to shell out good money for so called "luxury" condos on East Front Street or in Plainfield. Any of us who have lived in Plainfield for a long time, knew that this was a disaster waiting to happen, and it did.
Unfortunately, the crime rate in Plainfield has gone up a lot and it wasn't good enough to lure people here before. No abatement or lure would get them sold. It's an ugly building, too close to the street and definitely not in a luxury area of Plainfield.
I love Plainfield, or else I wouldn't have stayed her over 25 years, but facts are facts and poor city management and planning is what it is with our current mayor. I don't see any light at the end of this tunnel unless we get some real action from City Hall.dorisl29
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