Gateway Farm

[Pacingqueen]

Seeing a lot of bad things on Facebook about possibly closing. Our favorite spot to ship into for stakes in the summer. Where will everyone go? First Showplace now Gateway. Sad for The Meadowlands and New Jersey horse racing community.

[Kirbys Ace]

Hope they dont look close at the books!

 

[London]

And the whoresman get it up the ass again

[MR.DALRAE]

As they deserve

[Wendall Tilley]

Does the town own the land or has the owner applied for a subdivision ?

[jupiter]

If the town wants it they'll take it. Eminent domain, tough shit, been there, you canīt win.

[COUNSELOR]

THE OWNERS OF GAITWAY WILL TAKE THE MONEY!  IT IS IMPOSSIBLE THAT THE LAND CAN GENERATE THAT TYPE OF CASH ANNUALLY.

[COUNSELOR]

YES.  YOU ARE CORRECT IN EMINENT DOMAIN.  THEY CANNOT TAKE THE PROPERTY WITHOUT DUE PROCESS BUT IN THEY END THEY USUALLY WIN AND IT COST YOU A FORTUNE TO LITIGATE.   

THIS PROCESS CAN EASILY TAKE YEARS.

[hammer0419]

IT'S A DEAD GAME LADDIES. TO QUOTE A EMINENT SCHOLAR.

[smokingjoe]

https://www.app.com/story/news/local/western-monmouth-county/manalapan/2021/12/24/manalapan-nj-redevelopment-adopted-gaitway-farm-manalapan-manor/8985658002/

[Racing Troll]

https://www.app.com/story/news/local/western-monmouth-county/manalapan/2021/12/24/manalapan-nj-redevelopment-adopted-gaitway-farm-manalapan-manor/8985658002/

BUMP FOR THIS LOSER. WHO JUST LIKES TO SEE HIS NAME IN PRINT

[COUNSELOR]

THE ARTICLE THAT WAS SO KINDLY POSTED CLEARLY STATES THAT THE COUNTY/TOWNSHIP WILL NOT INVOKE EMINENT DOMAIN AND THE TOWNSHIP LEADERS HAVE STATED THEIR VOTE IS TO HAVE THE PROPERTY REMAIN A FARM.   THEREFORE, THE DECISION IS ENTIRELY UP TO WHO EVER OWNS THE FARM---IT WOULD BE VERY TOUGH TO TURN DOWN $35 MILLION BUT TRUTHFULLY THERE IS AN ALTERNATE WAY FOR THESE FOLKS TO GO.

IT IS OBVIOUS THAT THIS PROPERTY IS IN A VERY VALUABLE AREA AS AN OFFER OF $35 MILLION IS CRAZY.  THIS IS A TRANSACTION WHERE THE FARM COULD KEEP THE PROPERTY AND STILL RECEIVE VALUE IN EXCESS OF $35 MILLION AND ANNUAL CASH FLOW IN EXCESS OF $3.5  MILLION /YEAR PLUS THE FARM PROFITS (IF IT IS PROFITABLE AND I DO NOT HAVE ANY FACTS).   

IN FACT THE HORSEMEN (OR ANY GROUP FOR THAT MATTER) COULD PUT TOGETHER A DEAL TO PURCHASE THIS COMPLEX FOR $35 MILLION AND TURN IT INTO A MIN-REIT.   SERIOUSLY, THERE WOULD BE LIQUIDITY AND YIELD AS WELL AS UPSIDE.   THIS IS NOT A DIFFICULT TRANSACTION AND I AM 100% SURE THIS COULD BE DONE DEPENDING ON THE BUYERS---THIS COULD BE DONE.

IF IT IS WORTH $35 MILLION TODAY--WHAT IS IT WORTH 20 OR 30 YEARS FROM NOW.   IF THERE IS STALL SHORTGAGE IN THE AREA----WHAT COULD BE CHARGED PER STALL?   COST?  BALANCE SHEET--P & L.   

I PERSONALLY BELIEVE THAT WHERE THERE IS THE WILL TO DO SOMETHING THERE IS A WAY TO GET IT DONE. 

[Carnival People]

Seeing a lot of bad things on Facebook about possibly closing. Our favorite spot to ship into for stakes in the summer. Where will everyone go? First Showplace now Gateway. Sad for The Meadowlands and New Jersey horse racing community.

You have been shipping in for stakes in the summer which is about 30 years and you still don't know that it's GAIT and not GATE in Gaitway?      The sign is right at the entrance for the love of pete.