[Crawford]

Originally Posted by SAN Man

1 block from the ocean front in Atlantic City: https://goo.gl/maps/4Hyvs6zTWoimHGHU8

That vacant oceanfront isn't really abandoned, and it's worth a ton. It's landbanking.

When AC legalized gambling, basically everything along the oceanfront was purchased by major institutional entities, and then demolished. So, yeah, it's empty, but it's empty because of high land values, not low land values.

Of course much of it hasn't yet been developed because of local dysfunction and a downturn in gambling.