REAL PROPERTY
Asbury Park Downtown Rebirth Led by Sackman Enterprises
By Diane C . Walsh Editor , COMMERCE
Carter Sackman was the game changer in Asbury Park ’ s downtown .
The second-generation developer bought the landmark Steinbach Building 20 years ago and restored the glory to the grand Cookman Avenue structure that anchors the central business district . When Sackman acquired it , the building was boarded up , like many of the adjacent stores . It hardly evoked any memories of its heyday as a premiere shopping destination or its origins as a hotel .
Within five years of its acquisition , however , Sackman completed an extensive rehabilitation of the former department store , utilizing an historic tax credit program . When it reopened in 2007 the Steinbach touted beautiful loft apartments on the upper floors and retail space on the ground level .
While he said the building didn ’ t make him money , it whetted Sackman ’ s appetite for what Asbury Park could be . He began investing in nearly a dozen properties along Cookman and Bangs Avenue and other downtown addresses .
Asbury Park ’ s storied past and its swaths of vacant property made the seaside community very attractive . “ I thought if we were able to acquire enough land , we could create a critical mass and create a new neighborhood essentially ,” Sackman recalled .
The Monmouth County beachfront community was developed in the late 19th Century by a New York industrialist , James A . Bradley . It was named after Francis Asbury , the first American bishop of the Methodist Episcopal Church . The Methodist church left its imprint throughout the area – establishing the summer camp meeting site in Ocean Grove , just south of Asbury .
Bradley built the Asbury Park Boardwalk , an orchestra pavilion , public changing rooms , and a pier on the south end . His investment drew others , like Ernest Schnitzler , who built the Palace Merry-Go-Round – a precursor to the tourist favorite , the Palace Amusement complex .
By 1912 the New York Times estimated the summer population could reach 200,000 . Back then vacationers predominantly used the New York and Long Branch Railroads to reach their destination . They were welcomed at the grand hotels along the waterfront .
But Asbury Park ’ s popularity began to erode with the opening of the Garden State Parkway in 1947 . The new modern roadway gave motorists easy access to other seashore towns . The city ’ s shopping district suffered a blow too with the advent of malls . Then in 1970 , riots occurred
The Stone Pony in Asbury Park is the most well-known music venue in the area and has promoted the robust music scene of the city .
Photo : Getty Images / iStockphoto / luvemakphoto
Carter Sackman and his attorney , Andrew J . Karas discuss future plans for Asbury Park .
in Asbury Park . The repercussions from the violence let deep scars in every facet of the community and resulted in an economic downturn .
Patrick Schiavino is a local realtor , who witnessed the city ’ s demise and is eager to see its rebirth . He said the city government “ gave developers a fighting chance ” when zoning laws were amended to allow mixed-use , which pares residential and commercial space , in the downtown . He contends that Sackman is the game changer . “ If it wasn ’ t for him , we won ’ t be here ,” said Schiavino . For him the signs of the renaissance are the influx of new residents and growth of the arts and entertainment sector , as well as the downtown .
Partner Engineering and Science Inc ., a nationwide firm , is one of the businesses eager to be part of Asbury Park ’ s rebirth . The firm is moving its East Coast headquarters to the city . Company President Frank S . Romeo Jr . said renovations to an Asbury Avenue building will begin soon and he expects his 100 employees will be at their new desks within 12 months .
Romeo , who grew up in the area , said “ it ’ s wonderful to see what Asbury Park has become . … It ’ s exciting to be part of it .”
Sackman described Asbury Park as a being “ like a little Nashville ,” the Tennessee town that ’ s gained a reputation as “ music city .” The developer said it ’ s exciting working in Asbury . “ There ’ s a lot of talent here and there ’ s a lot of creativity . When you come through the gates you can feel it .”
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Photo : Russ DeSantis
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