It appears that some schools try to hide when they are purchasing land. Perhaps this is because the sellers don't want to sell to schools, likely because the neighbors don't want the sellers to sell to schools.
A review of public land records indicates patterns of unidentified LLC's purchasing land for fair value and then shortly afterwards the new buyer transfers the property via a $1 quitclaim to a school. Typically, the schools are owned by the sole owner of the LLC, or a family member.
As previously reported here on FAA News, just weeks ago, the 2.79 acres estate property at 1265 Ridge Avenue - at the County Line Road intersection - was sold for $2.75 million. The buyer was 1265 Ridge Avenue LLC. The public records of the land sale do not list the buyer's name; only the buyer's attorney Yanky Brenner Esq. is listed.
Just this week, the property was transferred by way of quitclaim deed to Yeshivas Meor Hatalmud. The land transfer documents indicate that Rabbi Noach Witty is the President of Yeshivas Meor Hatalmud as well as the Sole Member of 1265 Ridge Avenue LLC. In other words, the current buyer and seller are one and the same.
Perhaps, the yeshiva needed to hide the fact that they were purchasing this property because, as previously reported here on FAA News, their contract to purchase the adjoining property was cancelled, possibly due to exposure of the contract sale.
Similar land transfers have quietly been going on in the Albert Avenue area near Talmud Torah.
Similar stuff appears to be in the works on New Hampshire Avenue as well.
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2 comments:
Absolutely disgusting and despicable!
These are Yeshivos teaching their students to be honest and straightforward except when it does not pay for THEM to be honest and straightfprward.
Then when they go into the business world....lets stop here.
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