Route 40 (https://rtforty.com/tag/real-estate/)
The Atlantic Club is still up for sale and its owners just modified a $10 million mortgage on their other Atlantic City Boardwalk property, The Claridge. These things are not related, Dale Schooley, director of acquisitions for the owners, TJM, told me yesterday.
The emails and phone messages from Atlantic City native Reese Palley were punctuated with a sense of urgency for the city’s survival. His pitch was simple: reinvent the image of a summer resort, promoting second homes within financial reach of young families. Before Reese passed away in 2015, he advised the highest and best use for the city is recreation. We should forgo other industries; get rid of our high-tech ideas, “What are you going to do, screw it up a second time? Atlantic City has used up its God-given chances!”