Atlantic City Condo Project Enters Foreclosure

A luxury condo project in the Chelsea section of Atlantic City is in foreclosure proceedings, according to property documents filed with the Atlantic County clerk.

“The Breakers” project on the beach block at 4100 Atlantic Ave was touted just three years ago by city and state officials as a sign Atlantic City’s economic development was rebounding. The project was mentioned in the city’s multi-billion-dollar debt offering this year as an important non-casino development.

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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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Ventnor-Based Filmmakers Get Video-On-Demand Release For Horror Flick

Just in time for Halloween, here’s a horror film with a local connection. American Gothic, the third feature film by Ventnor-based producers Dina Engel and Sherry McCracken, will be available on cable systems’ video-on-demand platforms on Tuesday.

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Boardwalk Biking, Senate Race Funding, Cranberries – Thursday’s Roundup

I was warned off cycling on the Atlantic City Boardwalk near Tropicana on Wednesday around 1.45 pm, where two patrol cars and four police were stopping cyclists. There are four hours during the winter when the Boardwalk (and only between Albany and Connecticut Aves) is closed to cyclists.

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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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