{"id":16471,"date":"2024-08-14T04:48:33","date_gmt":"2024-08-14T08:48:33","guid":{"rendered":"https:\/\/shorebeat.com\/lavallette-seaside\/?p=16471"},"modified":"2024-08-14T04:48:33","modified_gmt":"2024-08-14T08:48:33","slug":"court-determines-value-of-seaside-heights-steel-structure-after-three-year-battle","status":"publish","type":"post","link":"https:\/\/shorebeat.com\/lavallette-seaside\/2024\/08\/court-determines-value-of-seaside-heights-steel-structure-after-three-year-battle\/","title":{"rendered":"Court Determines Value of Seaside Heights ‘Steel Structure’ After Three-Year Battle"},"content":{"rendered":"
\"The<\/a>

The ‘steel structure’ on the Boulevard in Seaside Heights is demolished, Aug. 16, 2021. (Photo: Daniel Nee)<\/p><\/div>\n

The now-demolished edifice known as the “steel structure” on the Boulevard in Seaside Heights \u2013 as well as the land on which it was built \u2013 was worth about $720,000 more than the borough initially estimated, a court in Ocean County decided last week.<\/p>\n

Litigation between the borough and 404 Boulevard LLC, headed by nightclub owner Vincent Craparotta, had been ongoing since the borough took the property via eminent domain in 2021. The property had become blighted as multiple stories of steel framing had been left to deteriorate in the elements for over a decade, spurring complaints from residents and officials. Craparotta, during that time period, utilized state-authorized permit extension programs passed after the 2008 financial crisis and Hurricane Sandy in 2012 to block attempts to force a sale. When the programs expired, and no site plan had been filed, the borough council voted to condemn the property and take it.<\/p>\n

The borough’s appraiser valued the property at $1.8 million, which was challenged by Craparotta’s legal team. A court-appointed commission of advisors to an Ocean County Superior Court judge later concluded, in 2022, that the property was worth $1.9 million \u2013 or $100,000 more than the borough\u2019s estimate. But even after the commission made its recommendation, the litigation continued on for two more years.<\/p>\n

\"The<\/a>

The steel structure on the Boulevard in Seaside Heights, Oct. 2020. (Photo: Daniel Nee)<\/p><\/div>\n

Finally, last week, Superior Court Judge Craig Wellerson signed a consent judgment setting the value of the property at $2,520,982. The borough, therefore, will pay Craparotta an additional $720,982 toward the value of the property, plus $175,000 in interest, for a total of $895,982.<\/p>\n

Both parties in the litigation agreed that Wellerson’s ruling would be final, however Craparotta was ordered to continue to be responsible for any environmental remediation subject to future court action.<\/p>\n

The borough council acknowledged the ruling last week by passing a resolution, closing the litigation. Wellerson’s final consent judgment was signed Aug. 8.<\/p>\n

Craparotta, in the early 2000s, envisioned the site as a nightlife and entertainment complex that would have offered multiple floors of bars, clubs, restaurants and pools, similar to “The Pool” complex in Atlantic City. Financing ran out during the financial crisis, however, and the nightlife industry began to sour after MTV’s “Jersey Shore” came to an end and the borough began efforts to redevelop its commercial and residential districts away from a bar-centric atmosphere. The hulking steel that remained when construction stopped during the 2008 recession, soon beginning to rust and creating a multi-story eyesore that drew ire from residents and officials alike. It was demolished in Aug. 2021<\/a> after the eminent domain vote<\/a>.<\/p>\n

The borough formally declared the property as being in need of redevelopment, and initially attempted to work with Craparotta to develop the site, but later turned to a public process of soliciting developers after numerous snags that continued to drag out the process of redevelopment. With no sign of solid plans for site being in the works, the borough voted to condemn<\/a> the site, take it under eminent domain and sell it to a new developer with proven financial resources as required under state redevelopment laws.<\/p>\n

\"The<\/a>

The property that once housed the former ‘steel structure’ in Seaside Heights, now slated for redevelopment. (Photo: Shorebeat)<\/p><\/div>\n

Seaside Heights officials said in July that, following a long permitting process, the redevelopment group responsible for building a 10-story, mixed use complex on the site will have access to the property<\/a> in order to take the next steps in getting construction underway.<\/p>\n

The steel was torn down in 2021, however underground infrastructure beneath the property \u2013 which was supposed to have pools and spas \u2013 remained. The permitting process was lengthy, and in April, the development group received county permits and was still awaiting some state permits to begin work. Those permits have since been granted, and work on the new building will likely begin in the coming weeks.<\/p>\n

\"Renderings<\/a>

Renderings and plans for the former ‘steel structure’ redevelopment effort, Seaside Heights, N.J. (Source: SSH Redevelopment Plan Deck)<\/p><\/div>\n

The new building will house 77 residential units, a 153-space on-site parking structure, approximately 6,500 square feet of street level retail space, and an approximately 8,500 square foot restaurant with an outdoor balcony on the fourth floor.<\/p>\n

Read the Judgment<\/strong><\/p>\n