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Edukatd, Real Estate Pro in 08840

GRAMERCY SQUARE...Does anyone have info on construction and tax liens filed against Amboy Holdings (owner of Gramercy Square)?

Asked by Edukatd, 08840 Wed Dec 5, 2012

County clerk records show liens filed by concrete, roofing, excavating, and tree contractors. Also a tax lien. Has this been holding up closing of units?

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This question was asked from this property: http://www.trulia.com/property/1096198708-199-Amboy-Ave-B-Me…

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5
You ARE wrong...

TWO questions are not "many"!

"Loans" are NOT "liens".

Liens are put on a property when loan payments are not timely repaid and are in default.

You have opinions on many topics you are not qualified to speak on... including law. A question is not libelous, and the truth is an absolute defense to a "claim" of libel.
0 votes Thank Flag Link Thu Dec 6, 2012
Edukatd,

You have asked MANY questions about this development in the past months, and have received answers from agents (including myself) who know about this development and what's going on.

Curious why you persist in asking questions that border on libelous on a public forum instead of just asking the question directly of the listing broker?

Just as an aside, it was my understanding that when a development such as this is built, typically the builder takes out loans (liens) for all aspects of the project, then as each unit sells, a portion of the loans (liens) is paid to the contractors on a pro rata basis. I could be wrong, but that was my understanding from speaking to builders I know.
0 votes Thank Flag Link Thu Dec 6, 2012
No "open" liens currently filed since buyer's attorneys for sold units had to pay builders unpaid contractors who filed liens. To date these include $93,380 to the excavation company, $69,570 to the company doing footings and foundations, $48,272 to the roofing company, $2,374 to tree removal company and $4,140 for an unpaid tax lien. Closings to date have been delayed because Buyer's attorneys had to negotiate settlement of these liens before their clients could close.

This runs counter to builder's assertion delays are due entirely to conditions outside the builders control. The Borough of Metuchen didn't prevent the builder from paying contractors for their work.

Did the builder pick ALL bad subcontractors or is the builder trying to use the contractors money to finish the project?
0 votes Thank Flag Link Wed Dec 5, 2012
Dear Steve
There are no open liens and no delay in closings
0 votes Thank Flag Link Wed Dec 5, 2012
Steve...there are no liens on Gramercy Square.
0 votes Thank Flag Link Wed Dec 5, 2012
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