Straub Flips Revel To Denver Investor Deifik

The casino formerly known as the Revel is under a “notice of settlement agreement of sale” to AC Ocean Walk, which is controlled by Denver-based developer Bruce Deifik.

Calls to Deifik and a lawyer for Revel-owner Glenn Straub were not immediately returned. Deifik is backing TEN, which has been trying to reopen the Revel since last year.

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The Boardwalk Is For Slow Cruising

“The Boardwalk is for slow cruising only,” reads a new sign on the Atlantic City stretch of the Boardwalk, not far from Jackson Ave. The “Atlantic City Boardwalk Bike Riding Etiquette” sign is filled with other good advice too, such as to yield to pedestrians, walk bicycles through crowds and be prepared to stop. We at Route 40 are avid Boardwalk cyclists and we’re fans of the intention behind the sign. Even the wording is intelligible and straight-forward (leaving aside slow cruising double entendres). But there’s the rub.

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Three Belfield Ave Properties Slated For Demolition

The Casino Reinvestment Development Authority will pay Atlantic City up to $150,000 to purchase three houses on Belfield Avenue so that they can be demolished, according to an agreement on the city’s website. The agreement is part of a wider initiative by the city and CRDA to demolish abandoned properties. “The city and the Authority believe that the removal of certain nuisance and derelict properties in the Tourism District will advance the City’s clean and safe mission and repurpose particularly problematic properties within the district,” according to the agreement. The houses to be acquired and demolished are 1515, 1516 and 1517 Belfield Ave. A firefighter suffered minor injuries fighting a fire in the row homes earlier this year.

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CRDA To Auction $15 Million Of Banked Atlantic City Real Estate

The Casino Reinvestment Development Authority is preparing to sell off some of its Atlantic City real estate holdings, according to documents filed on its website.

“The CRDA seeks an experienced professional firm to market and auction surplus real property owned by the Authority and no longer necessary for its operations,” says the request for proposal. The real estate to be auctioned off ranges from a half-block package in the Inlet with a valuation of $6 million, to a $300 non-buildable alley on North Massachusetts Ave.

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