New Jersey - Records Show Brooklyn-Based "SY" Community Has Near Monopoly On Oceanfront Property In Deal, NJ
Deal, NJ - A map assembled from local records shows that a small number of prominent Brooklyn-based Syrian Jewish families have amassed close to a monopoly on oceanfront properties in the tiny seaside hamlet of Deal, NJ—-with many having erected massive family compounds sprawling over acres of picturesque New Jersey coastline.
THEREAJDEAL.com (http://bit.ly/1IWLa4N) reports that after sifting through local records, data reveals that a dozen or so wealthy “SY” community families own about one-third of Deal’s 952 properties.
Records show that many of these Sephardic Jewish families—-most of whom were prominent players in the retail and garment industries—-began buying up oceanfront property back in the ‘60s and ‘70s based on low taxes, privacy, and an existing synagogue.
Among the more prominent names on Deal’s oceanfront ledger are Wharton Properties’ Jeff Sutton; Joe Sitt, CEO of Thor Equities and founder of the Ashley Stewart clothing chain; and Midtown Equities head Joseph Cayre.
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