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The current owner of the Bergen-Lafayette property, who was sued for fraud earlier this year, was arrested in May after a bench warrant was issued against him over an unsafe structure citation.
The former owners of the prominent Bergen-Lafayette property claim that the new owners engaged in a conspiracy to deflate the parcel’s value before selling it to a straw buyer at a below-market price.
A vacant six-story building at 125 Monitor Street towers over this Jersey City neighborhood. Earlier this year, a Brooklyn man bought the property, but his plans have yet to be revealed.
The Jersey City Redevelopment Agency has filed a lawsuit over a vacant warehouse at 125 Monitor Street as part of their ongoing effort to see residential reuse of the building.