‘Unlawful Conspiracy’ Keeps Out Rival Builders in Edgewater, Suit Claims

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In the latest indication that real estate can be a bloody, full-contact sport, the borough of Edgewater, N.J., and developers are trading body blows over one of the last large waterfront sites left on New Jersey’s Gold Coast.

Maxal Group and EnviroFinance Group, who bought the site, a 19-acre parcel with panoramic views of Manhattan, three years ago, filed a federal lawsuit Wednesday claiming that Edgewater, its mayor and other public officials blocked their proposal as part of a long-running conspiracy to benefit a rival hometown builder who controls much of …read more

Source: New York Times

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