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The Chip Board Archive 23

Land speculators and hold-out property owners.

Here's an example of an A.C. famous hold-out (Google Vera Coking) who refused to sell her home to the failed Penthouse Casino Hotel project. She wanted more money than was offered to her, so they simply built around her. The property finally sold just recently to Carl Ichan for a fraction of what she was originally offered.

Simarly, lots of property in the North East Inlet area is owned by casinos or land speculators for similar hold-out reasons. They can't put together large continuous properties to build huge casino projects, so the land sits idle. Now that the numbers of casinos are shrinking in A.C. the properties have reduced significantly in value and are being filed for tax assessment reductions.

Messages In This Thread

Prime AC beachfront sits empty - but why?
NJ... Americas armpit!
Re: Prime AC beachfront sits empty - but why?
Land speculators and hold-out property owners.
Re: Land speculators and hold-out property owners.
A different view ...
Vera Coking house demolished yesterday

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