55 percent occupied. The sales price is 45 percent lower than the $5.5 million value pegged to the property in an appraisal done just this past April. And it's just enough to cover the $2.7 million of advances that master ...
The property was sold at an auction.
20 acres of undeveloped land for $1 billion casino
Deal done through bankruptcy court; opened in 1981, property includes 59,071 sf of gaming space.
Colony has 2-year option to buy the land adjacent to the hotel at 1133 Boardwalk for $40Mln.