Farmstead Village is sold as large tract
New owner sells to single family who wants privacy
By TOM KANE
TYLER HILL, PA It looks like 1,500 homes will not be built at Farmstead Village after all.
The reason: the new owner, Shimmy Weisswho bought the 980-acre property off of Route 371 called Farmstead Village with intention of developing ithas decided to sell a large portion to a couple who want the property for themselves and their family. Weiss purchased the property on March 30 for $4.3 million.
The deal will be finalized very soon, Weiss said. Weiss did not reveal how many acres the new sale entailed or the identity of the new buyers. Theyre a very private couple, who will build a home for themselves and who have no intention to build many others. They may build just a few.
Weiss, who is a real estate developer with offices in New Hempstead, NY, has named his company LL Honesdale Properties.
Weeks before the sale, it was reported that a company called BSD Holding Company put a $225,000 down payment on the property on Friday, March 11, 2005. It turns out that BSD is owned by Weiss and several partners.
It was not clear at press time how Weiss will develop the remainder of the property that he owns.
Fred Frankel of Pompano Beach, FL originally owned the property and got provisional approval from Wayne County Planning Department to develop 1,500 lots on the site in 1971. The plan was submitted when the township had no zoning and the county handled such things, Frankel said.
Frankel said that a group from York, PA attempted to stop the sale by claiming they had a lien on the title and intended to purchase the land. This was an attempt just to stop the purchase, Frankel said. The York group never deposited the money they were supposed to deposit. Groups like this live off of settlements they make with prospective owners who pay just to get rid of them, Frankel said.
At a court hearing before Wayne County Judge Robert Conway last week, the court supported Weiss and his associates. We plan to sue them over this, Frankel said.
I feel very confident that the new owners will do an excellent job of developing the site, Frankel said. They are real pros. Frankel still holds a property near the site and has several other holdings in the county. I am in discussion now with someone about creating another much smaller residential development in Wayne County. My heart is in the area, he said.