Wanna buy a luxury Atlantic City condo at pennies on the dollar? The Bella Condominiums, 26 stories of magnificence will auction off 39 of it’s 200 residential units on Sunday, June 28 with no minimum bid.
The Bella opened 10 years ago in the South Inlet area of Atlantic City. Some see it as a way to get in at the bottom of a soon-to-be bull market for AC real estate.
While Bella sits in the shadow of the shuttered Revel and Showboat casinos, a quick drive through that area can easily excite those with entrepreneurial vision. Florida real estate investor Glenn Straub will be your neighbor. Straub owns Revel & Showboat, along with a variety of adjacent land.
The big construction tease continues on a $60 million apartment building that could revitalize ‘Pauline’s Prairie’ next to Bella.
New Brunswick-based Boraie Development, who no doubt is quite familiar with New Brunswick DevCo & ACDevco … is in a holding pattern with it’s plan to build a 250-unit apartment complex on that vacant, yet ultra-valuable parcel of land.
FACT: The state of New Jersey can’t let Atlantic City fail. It still provides truckloads of revenue needed to run the state. That’s why we see so many state-appointed orgs and execs in key positions through-out the city.
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