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In 1993, Atlantic City casino development authority began condemning hundreds of properties, for the expansion of Trump Plaza Hotel and Casino. In 1998, a court stopped the condemnation of the Sabatini's restaurant, one of the properties. In 2005, Donald Trump agreed to buy the property for around $2 million, exceeding the first offer of $700,000.
Property records show that on June 2, 2010, Coking transferred ownership of the house to her daughter, who put it on the market in 2011 with an initial asking price of $5 million. [1] [8] By September 2013, the price had been reduced to $1 million. [9] The property was finally sold for $583,000 in an auction on July 31, 2014. [10]
The Fair Foreclosure Act (FFA), N.J.S.A §§ 2A:50-53 to 2A:50-73, is a state law that protects residential mortgage debtors and establishes a uniform statutory framework under which courts can more clearly identify the rights and remedies of the parties involved in foreclosure proceedings throughout New Jersey. [1]
In February 2019, a sale settlement was filed by the property's owner, TJM Properties, however they denied the sale of property. Most recently, in October 2019, the property was sold to Colosseo Atlantic City, Inc. [ 26 ] [ 27 ] On October 23, 2019, the owner hired a New Jersey–based broker. [ 28 ]
Tina Lam and Michael Cheng purchased the property for $90,000. The story received national attention and the city ultimately reversed the sale. [14] In June 2020 Bid4Assets conducted Utah's first internet-based tax sale for Iron County, Utah. All 135 properties either received a bid or were redeemed for payment of taxes. [15]
Golden Nugget Atlantic City is a hotel, casino, and marina located in Atlantic City, New Jersey. Having been opened in 1985 as Trump's Castle , it was renamed Trump Marina in 1997. Landry's, Inc. purchased the casino from Trump Entertainment Resorts in February 2011, and the sale was approved in late May.
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