Sackman to buy landmark Press Plaza building
Structure originally housed a bank and later Press Plaza pharmacy
The large landmark former bank building at the corner of Press Plaza and Cookman Avenue has been purchased by downtown Asbury developer Carter Sackman.
“We’re very excited about it,” said Sackman. “Architecturally and historically it’s one of the most significant buildings in the central business district.”
Sackman has a contract to purchase the building, according to Sackman and its current owner, attorney Barry Slott. The closing of title, when the actual transfer of ownership will take place, is expected after the first of the year, both men said.
A complete rehabilitation is planned for the building, which is expected to include retail and office uses, Sackman said.
What will be put in the space is tenant driven, said Sackman, who says he’s still talking to potential tenants so he’s not yet able to disclose final plans.
He said the rehabilitation of the building will bring back its striking architecture, in particular at night with lighting to highlight its best features.
The structure is one of the last remaining buildings in the downtown business district that has not undergone a rehabilitation. Sackman’s company specializes in historic rehabilitations. He declined to specify the purchase price.
The Seacoast Trust bank occupied the building in the 1930s. An office of department store magnate John Steinbach was in the upper floors, which are now Slott’s law offices.
Slott in his office in landmark Press Plaza building
The Press Plaza pharmacy had occupied the ground floor for years. In the early days of Asbury Park’s current revitalization, Sonny’s Southern Cuisine was a tenant.
Sackman is downtown Asbury’s largest developer, with his company owning and rehabilitating the Steinbach building, the former post office, the former Asbury Park Press building and the 550 Cookman Avenue art deco building. His company also operates the House of Independents multi-purpose venue.
Sackman also has approved plans to bring back the Savoy Theater on Mattison Avenue in a project that includes studio apartments.
Vintage photo of Seacoast Trust building to be purchased by Carter Sackman
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