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Katzoff Likes It Here Movie Buff Buys Into Stone Harbor

By SKIP GLADUB Who is Gerald Katzoff and what is he doing in Stone Harbor? "I'm not out seeking to buy the town," Katzoff, 38, told this newspaper in an interview, "I feel that owning a part of 96th Street is like owning a part of Park Avenue." Katzoff is the owner of Renovated Concord Opened AVALON*-. CRA Management Co., Inc. announces that its newest condominium/resort account, the Concord Condominium Motel, here, has opened for the 1986 summer season. The company's offering introductory savings of up to 30 percent off the published room rates througn May 22, continuing discount programs adding up to 20 percent off published room rates, extended stay savings and other packages, the management company hopes to stimulate increased interest and occupancy. The Concord has recently completed room renovations. All newly furnished suites are one-bedroom efficiency units bringing the Concord up to date. Two large pools with spacious sun decks and Allie's Restaurant/Cocktail Lounge complete the scene.

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Stone ^Harbor's Harbor Square, Park and Hunt Theaters, and his most recent acquisition, Shelter Haven Motel. ALSO, HE IS the presi dent of Dover Historic Properties, Philadelphia, one of the largest rehabilitors of historical buildings. A native of Bayonne. he spent his summers with his parents in Belmar. He is a graduate of Temple University Law School and has been married to his wife Lydia for 20 years. Katzoff has a six handicap in golf, but he will proudly tell you about his son Stuart, 13, who is one of the top junior golfers in the U.S. with a handicap of nine. HE PRACTICED law un til 1978, when he realized that he was much more interested in real estate and got into condominium development in Philadelphia, Delaware, and New Jersey. He first saw Stone Harbor in February, 1985, at the invitation of the bank financing Harbor Square, which thought his company might be interested in syndication of the property. "I came and saw the building, saw the potential of Harbor Square and bought it for my personal account," said Katzoff. "I talked my wife's first cousin, Bobby (Robert Blumenstein) into becoming manager. He's a Ph D who had been teaching microscopic anatomy at Hahnemann University. We decided to open Snickers even though we had no restaurant experience." IT WAS WHILE looking at future expansion of the restaurant that Katzoff registered an interest in the Park Theater, the owner would not sell. Later, all of the Hunt's properties were sold to Hunt's Pier Associates, who approached Katzoff with the offer to sell the Park if he would also take the Harbor. With the acquisition of these properties Katzoff envisioned a "grand hotel that would wrap around Harbor Square." He did not receive the anticipated support from the borough's governing body, which already had in place ordinances regulating height of buildings and residences in the business district. HIS MOST recent acquisition came about because he was interested in buying the Shelter Haven parking lot on 97th Street to provide additional parking for Snickers. To get the parking lot he

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had to take all of Jerome The Katzoffs plan to live Saul's property including 'n Ui® former Saul house his home on 114th Street even though they have been and the building on 96th approached to sell it. Street that houses the He's very proud of the motel, liquor store, and decor in Snickers, which he restaurant. describes as a nice place to Katzoff said he is very eat and enjoy impressed with the entertainment, character of Stone Harbor, COMEDY WILL be the feeling of family and among the live entertaintraditions passed on from ment planned for the one generation to another. season. The schedule inHe takes pleasure in know- eludes bands Friday and ing that "Someday this will Saturday, comedy Sunday be all yours, Stuart." and Monday and a DJ "IN A WAY this is a Tuesday, family operation," said Regardless of what his Katzoff. "My wife Lydia plans might be for his other manages all our real 96th Street properties, he estate. We own our proper- has promised never to ties and have no secret leave the town without a backers, no foreign in- movie theater, vestors. Evin my college As a movie buff in a famiroommate Ron Pinchuk ly of several movie buffs, comes dowq to help us out that makes Jerry Katzoff weekends." an all right guy

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REPORT OF CONDITION Consolidating domestic and foreign subsidiaries of the The First National Bank of Toms River, N.J. Toms River Name of Bank -« City in the state of W*w Jer**Y at the close of business on March 3 1st, 1995 published in response to call made by Comptroller of the Currency, under the 12. united States Code. Section 161. Charter Number 2509 comptroller of the Currency ?. District r Statement of Resources and Liabilities Thousands of dollars Cash and balances due from depository institutions: Noninterest-bearing balances and currency and coin | 77,691 ' interest-bearing balances I 77JJ53 Securities 327.190 i Federal funds sold and securities purchased under agreements to resell in domestic offices of the bank and of Its Edge and Agreement subsidiaries, and in ibfs i none i Loans and lease financing receivables: £ Loans and leases, net of unearned income (861 .2531 g LESS: Allowance for loan and lease losses r "5808 ' * LESS: Allocated transfer risk reserve i NONE ! * Loans and leases, net of unearned income, allowance, and reserve ~ 855,425 Assets held In trading accounts 297 Premises and fixed assets (including capitalized leases) 20.103 Other real estate owned 823 investments in unconsolidated subsidiaries and associated companies none Customers liability to this bank on acceptances outstanding none" intangible assets *9433 Other assets 23 734 — Total assets 1 392149 Deposits: ' in domestic offices 11 189,5541 Noninterest-bearing 1 259,868' interest-bearing , 929.686, in foreign offices. Edge and Agreement subsidiaries, and iBFs j none I v, Noninterest-bearing 1 None | 2! interest-bearing | None 1 5 Federal funds purchased and securities sold under agreements to repurchase in domestic offlrps 5 of the bank and of Its Edge and Agreement subsidiaries, and In ibfs 1 100,788, 2 Demand notes issues to the U.S. Treasury I 3<1*J3 Other borrowed money 910 Mortgage indebtedness and obligations under capitalized leases nonf Bank s liability on acceptances executed and outstanding nonf Notes and debentures subordinated to deposits 6.000 Other liabilities > 17 617 ' Total liabilities 1 *17 079 umited-iife preferred stock - none ^ Perpetual preferred stock none s S Common stock 13,326 < Surplus . 26.681 o undivided profits and capital reserves 34.170 £ Cumulative foreign currency translation adjustments [none 5 Total equity capital [74177 9 Total liabilities, limited-life preferred stock, and equity capital 1 1,392.149 we. the undersigned directors, attest to the , Thnm« D c,rrpii correctness of this statement of resources ana 1. 1 nomas k barren liabilities we declare that it nas been examined by us, and to trie best of our knowledge and Name belief has been prepared in conformance with the instructions and is true and correct Senior V P & Chief Financial Officer Title of the above-named bank do hereby declare i_ that tnis Report of Condition is true agd cor7 /) \0 ' ... jf rect to the best of my knowledge and belief ^ ' "7 Directors . /// {/ . ~S t/fies*, Floyd'®/. Smith, Jr. ^ — 5^, ==^ Frank J. Evart Roger N. Lane,\Jr. L ^ 5S THomas R. Farreli