Home Buying in Edgewater>Question Details

Fellownarrat…, Home Buyer in Edgewater, NJ

What is the deal with the litigation on the Edgewater waterfront?

Asked by Fellownarrator, Edgewater, NJ Tue Apr 10, 2012

Was just told Jacobs Ferry, Port Imperial, Bulls Ferry and Promenade are all undergoing litigation due to structural issues. Thus buying at those places is pretty much impossible and probably not recommended. Just wanted to see if anyone knew what's going to happen there and let everyone who might be looking know about it upfront.

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The litigation at the promenade is settled few months ago
0 votes Thank Flag Link Wed Oct 8, 2014
I have a complete list of all the waterfront condos with litigation.

Call me I can help.

Jose Martinez
Coldwell Banker Home loans Fort Lee
0 votes Thank Flag Link Sat Oct 13, 2012
There is some litigation in some of those communities, however, the type of litigation will vary across these buildings. All buildings go through a process called Transition when the original builder steps away as a member of the homeowners association and the building begins to run itself. During this process, the new homeowners association will likely hire engineering firms to ascertain if any repairs are needed on the buildings.

None of these complexes are impossible to purchase in by any stretch. I live at Port Imperial and financiing here is possible with preferred lenders who are all able to lend at competitive rates. If you do some research, you will find that most buildings encountered some sort of litigation upon the transition from builder. It happens everywhere and truthfully, it hasn't really affected sales all that much in the area. People are still able to obtain financing and close.

Please feel free to contact me. I have a good deal of information as I am a resident of Port Imperial and have been selling in these communities since their inception.

April Hartmann
NJAR Circle of Excellence 2004-2011
Coldwell Banker Residential Brokerage
2151 Lemoine Ave
Fort Lee, NJ 07024
201-461-5000 office
201-723-3772 mobile

Recognized by Realtor Magazine's Top 30 Under 30 for 2008 as one of the top agents in the country. http://www.realtor.org/archives/featurejune08_30u30

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0 votes Thank Flag Link Fri Oct 5, 2012
Yes there has been ongoing litigation... The Promenade was built as prefabricated units and has had ongoing litigation. I am only aware of 2 or 3 units which have closed over the past few years with lenders and a mortgage being obtained. Bulls ferry has litigation against the original developer and their subcontractors. The association did not let them out of their 10 year builders warranty/punch list. I am unaware of any litigation pending in Jacobs Ferry as I think it may only affect Bulls Ferry. Please note that this is all information which has been told to me and I can not say with 100% certainty that is is 100% factual. However, I would always recommend asking the Realtor whom you are working with to do their due diligence and contact the association, management company etc... Also, your attorney should do the same... I hope this is helpful to you in the meantime. Best of luck with your search and please feel free to reach out to me if I can be of further help as I specialize in selling along NJ's Gold Coast...
0 votes Thank Flag Link Tue Apr 10, 2012
I wonder how long this litigation is going to last. The last litigation I heard about was a few years ago and it lasted quite a while. There were a lot of issues with the real estate. It just makes you think how grateful it is to not have to worry about that kind of thing with your house.

Zach | http://www.charlesferberlaw.com/main.html
Flag Thu Oct 30, 2014
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