Movers & ShakersGlen Fishman
Asbury Partners LLC
Media-shy real estate developer Glen Fishman is a busy man. As managing partner of Asbury Partners LLC, he and brother Larry, COO, are the master developers for the long-awaited $1.25 billion Oceanfront Asbury, a 56-acre waterfront redevelopment project in Asbury Park.
Introduced in 2002, the Asbury Park Waterfront Redevelopment Plan calls for the construction of 750,000 square feet of retail space, about 3,000 residential units, and the restoration of the mile-long boardwalk to its former glory.
Asbury Partners is expected to put at least $50 million toward the revitalization plan. A joint venture of MD Sass Municipal Finance Partners III LLC in New York City and Ocean Front Acquisitions LLC in Lakewood, Asbury Partners was formed specifically for the redevelopment project and is the appointed gatekeeper for engineering and development of the blighted waterfront.
Results in Asbury Park have been long-awaited. Last April subdeveloper Metro Homes LLC in Hoboken imploded the infamous C-8 building, the 12-story rusted-over steel skeleton of an unfinished condominium left behind by bankrupt Carabetta Enterprises. Fishman has also promised to have the boardwalk refurbished by 2010.