AC’s Historic Madison House Hotel Goes for $1.25M Below Asking Price

Four million dollars–that’s all it took for a Florida investor, Eli Hadad, to purchase the grand Madison House Hotel at auction. When the 121,000-square-foot property was on the market, it was listed at $5.25 million. At auction last week, the bidding started at $4 million. Hadad was the winning bidder because he was the only bidder.

The 14-story Madison was built in 1929 with a stairway modeled after the grand stairway inside Independence Hall. And while the resemblance is certainly striking, the acoustic ceiling above doesn’t quite fit in. Not only that, but the property itself looks like it’s seen better days. Of course, that doesn’t mean it doesn’t have potential. Look at the hulking mess that’s the Divine Lorraine–everyone believes that has potential, and there’s barely a scrap left.

The location, on the beach block of Dr. Martin Luther King Jr. Boulevard, is pretty good. According to the Press of Atlantic City, there’s speculation “that Hadad may try to capitalize on future development plans for a nearly 20-acre oceanfront parcel across the street from the Madison.”

Florida investor buys historic Atlantic City hotel [Press of Atlantic City]

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  • As the draft approaches I find myself getting more and more excited. I have a clear picture of how I want the draft to go but understand that it is not likely. I fully expect the guy I want (Dion Jordan) to be gone by the 4th pick, which leads me to believe that we will more than likely be trading back a few spots. I forsee us trading back to 7, where I expect us to land Star Lotulelei. This should get us a 3rd and 5th round pick if we make the move, according to the TVC. Detroit is a team that should be geared up to take an OT and other needy teams will want to make the jump ahead. Gaining an extra third and fifth in this draft is key, due to the depth rather than star power. If we look to swap with SD than expect a second rounder and change in return.
    Again I would love for the pick to be Jordan, but if his name gets called by Jax or Oak then expect to see a trade back to 7 or 12. That is my take.

    • Sorry meant 11 which is where SD is sitting.

      • Lukekelly65

        I would be extremely happy if thats how the draft works out i agree Jordan is my favorite player as well but it seems more and more likely that he will be gone before our pick… if he is gone i wouldn’t be mad if an OT is the pick i like all 3 of them but i still like jordan the most….trading down is ideal because like Howie said yesterday its more of a “Meat and Potatos” draft so mid round picks and a huge help towards building this team… i think getting an extra mid round pick also allows you to be more open to other trades as well.. every year it seems like Howie makes great moves in the later rounds that allow us to pick up more picks in the next years draft

        • Agreed. If we jump back to say 11, we can pick up an extra 2nd and 4th round pick. Obviously that is going to mean that SD has to love one of the tackles and doesn’t want to risk staying put. This is a very plausable scenario. Look for us at 11 to look at Star if he is still available, Ziggy, or Jarvis Jones. Detroit at 5 could look for an OT same as Arizona as long as Johnson is still on the board. Cleveland I fully expect to take Millner and would be shocked if they dont. So the Bills, Jets and Titans are the wild cards before we would pick at 11. If Geno Smith is still on the board I wouldn’t be shocked of the Jets or Bills take a look at him. So without further wait: 1. KC: Joekel; 2. Jax: Jordan; 3. Oak: Floyd; 4. SD: Fisher; 5. Detroit:
          Lane Johnson; 6. Cle: Milliner; 7: Az: Warmack; 8. Buf: Jarvis Jones; 9. Jets: G. Smith; 10: Ten: Anash…..11. Philly: STAR LOTULELEI.

          • Richard Colton

            Is today the day we’re doing our Mock?

          • lol, no I just couldn’t resist

          • Jason N.

            I don’t know if Lotulelei will fall that low, it be nice if he does. But it’s a gamble. And I don’t like gambling.

    • Absecon

      Agree on the Jordan angle, but don’t think Eagles trade down unless the top 2 OT’s (Joeckel and Fisher) are also gone….

    • Jason N.

      If Jordan is the only player you want at 4th then something is wrong with your evaluation.

      Maybe I’m just the type of guy that want the Eagles to draft a safer prospect then one with boom/bust potentials.

      Fisher and Star at 4th are my consideration.

  • HowieDon’tKnow

    Can’t get excited about draft with our FO staffed as it is. Howie acts like he knows what he is talking about but hasn’t proved a thing (after giving him the benefit of the doubt for the last several drafts). If you hold him accountable for drafts while he was the GM (which would be the typical thing to do), he should have been fired along with AR. I think Gamble is a band-aid because SF’s drafts took off with the new GM.

    • jabostick

      I don’t get some of the Howie hate. I guess it comes down to whether or not you believe the narrative around the level of control he had vs Banner and Reid. I find that story pretty plausible and therefore, looking at his most recent draft, he did well.

      Add in his FA wok and I’m pretty optimistic about him. Some of the FA’s didn’t work out (as is often the case with every franchise) but not one single FA or contract signed has painted us into a corner the way it has for other franchises (i.e. Raiders, Cowboys, Redskins, etc).

      I don’t give him a free pass, obviously, but I’m pretty pumped for the Roseman/Kelly era.

      • I would agree with you. To think that a young Howie would come in and all of the sudden gain control over the war room when you have Banner and Reid sitting there is naive. I don’t think Roseman is great by any means and it bothers me to a degree that the man has never played the sport. However he had a decent draft last year and I am looking forward to seeing what he will put together this year. Not ready to vote him off the island just yet.

        • Geagle

          I used to despise Howie Roseman. I used to say the same stuff about never playing the game…But a guy who became an intern 10years ago out of Law school, doesnt become a GM for a first class NFL franchise by accident…I think Howie is bright enough to learn from his mistakes. Howie will always keep us as one of the best run teams in terms of the Salary Cap, and when Howie wants something, he usually gets his man (Hopefully he is done WANTING the wrong guys)..
          Chip Kelly is a very bright football mind, with all kinds of Clout. I doubt Chip would be here if he wasnt impressed with Howie. This isnt Chudzinski that we just hired…make no mistake about it, Chip interviewed Howie and Jeffry as much as they interveiwed him. We have had some terrible picks, but so has the great Ozzie Newsome and every other GM. How could we really expect a guy who started off as basically an intern when Banner and Reid were here, who learned everything he knows from them, to have been calling the shots? I wouldnt have been surprised if he wasnt calling the shots last year either(but because of the players we chose, i have a hard time believing that Andy Reid was behind last year..
          A GM is only as good as his scouts and the people working for him…
          I honestly never thought I would ever feel so comfortable with the Eagles front office(Chip was NOT my first choice, but Im a believer now), Feels weird being confident in our decision makers leading into a draft. What an exciting time….3 years ago, I wouldnt have been excited about having the #1 pick overall, because I would have worried that we would blow it…Good times ahead. I think we have weathered the storm as Eagles fans…Chips mind is a weapon on sunday’s…We were firing blanks last year with Andy, now we have a damn assualt riffle!

          • I share the same sentiment. I have faith in him until he gives me reason to not believe.

    • Adam

      “Howie acts like he knows what he is talking about but hasn’t proved a thing” … Are you talking about your own posts?

      Unless Howie is married to Jeff’s daughter, or he owes Howie a lot of money, he would have been fired with Andy if he knew he was responsible for the shape the team is in. What would be the reason he would still be here?

      So I’m guessing the fact that after we finally run a half a decent board, all of a sudden Joe Banner becomes expendable? That was just a coincidence? Or right around the time Banner is switched to an “advisor”, we finally get a GOOD linebacker for the first time in the Andy Reid era?

      Howie could have very well orchestrated the “Dream Team”, but what he did was bring his a coach a crop of talent players. The blame is on Andy for not being able to make it work. Nnamdi was the only complete miss, but no one saw that coming. Babin, Mathis, and Jenkins all came in and contributed. I would still pull the trigger on the DRC/Kolb trade any day and twice on Sundays, even just for the picks.

      Andy brought in Howard Mudd and JIm Washburn and promoted Juan Castillo D-coordinator, which in my opinion were moves that most contributed to this teams downfall, coupled with terrible drafting by Banner/AR. I’m not saying Howie is the next coming of Christ, but he’s still around for a reason. and I think he’s doing a good job.

      • Well put Adam. I think the blame was put exactly where it was. I am ready and willing to start over with the new regime and move forward. Clean slate, new system, new coach, new philosophy. I also understand that we are in a bit of a rebuilding stage and don’t expect to make a Super Bowl run this year. Rome wasn’t built in a day.

      • HowieDon’tKnow

        It’s refreshing to see someone give the GM a free pass for all of those bad drafts. If he didn’t run them, why don’t we bring in a real football guy to run the team? What makes a lawyer who never played the game capable of picking talent? Is there any example of this working in the NFL? Also, FWIW, Washburn was Howie’s boy according to the news reports. AR deserves blame but he is not alone in that regard.

        • Yeah, we should get a real football guy like the successful GM Detroit had, Matt Millen…oh wait. What does real football guy even mean? That seems to be the only thing people hate about Howie, his lack of experience.

          • knighn

            Correct. Don’t forget Mickey Loomis (GM, Saints) didn’t have much in the way of football experience.

            While we’re talking about football smarts: HOFer Ray Didinger is a much better sports reporter and writer than tons of former Pros working at ESPN and the NFL Network.

            I’m sure that there are plenty of examples of this, including NFL GMs (like Loomis). When it comes down to it: your ability on the football field does NOT mean you have the ability to run a team, evaluate football talent, or report on it.

          • HowieDon’tKnow

            He worked in the Seahawks organization for 15 years before he went to the saints. The best talent evaluators (Ozzie, Jimmy J, Belichick, Colbert) all played at some level or coached for a long time. Hope you like the draft. p.s., you should read up on the Stockholm syndrome because you’re stuck in one.

          • knighn

            And Howie Roseman has worked for the Eagles since 2000. So, we’re talking about a total of 13 years now. That experience doesn’t make him a good or bad football evaluator – it just means he has experience. You can have a lot of experience or a little bit – if you’re good, you’re good. If you suck, you suck. If Howie sucks, it’s because he lacks the skill of a GM, not because he didn’t play football. Matt Millen had PLENTY of NFL playing experience and will probably go down as the worst GM in the history of the NFL.

            While we are on the topic of things that suck: let’s talk about your debating skills. If you seriously think that being a fan of a football team in any way compares to Stockholm syndrome, you are just a sad individual.

          • HowieDon’tKnow

            knighn, I wasn’t talking about being a fan of the team. You’re evidently a captive of management, which I no longer trust, which is the “syndrome.” FWIW, I didn’t say that all former football players would be great GMs. I just said that someone with no football experience (I don’t consider negotiating a contract to be “football experience”) would not be a good GM. Although that distinction is apparently not understood by you, that’s not the same thing, Mr. Debate Coach. As for Colbert, he came up through the ranks as a talent evaluator after playing D3 football. His drafts at the Lions were great. When he became available, the Steelers picked him up (not us).

          • knighn

            You’re hilarious. “The best talent evaluators all played at some level or coached for a long time.” “I just said that someone with no football experience would not be a good GM.” Mickey Loomis? Or does he suddenly suck because he doesn’t fit your argument?

            And your Stockholm Sydrome comparison still sucks. You believe that I am a “captive of management” which could not be more false. And shame on you for trusting the management in the first place. The Eagles have not won a championship in over 50 years. This current management is going on 20 years. There was nothing about this organization to fully trust in the first place. You watch the games and you hope, at some point, the Eagles get it right.

            What I am attacking is your arguments on Howie Roseman. Do I think that he is some great, brilliant GM? Hell no! He hasn’t earned that title in any way, shape or form! Do I think he’s doomed to failure just because he’s never played in the NFL?! Once again: Hell no!

          • dilbert719

            I mean this in all honesty: where did Kevin Colbert play or coach? I’ve looked for that information a couple different times, and I can’t find a reference to him doing either. He was a scout for the Lions before working for the Steelers, but I can’t find anything about him playing or coaching.

        • Jason N.

          Guys give it up, he’s the type of person that won’t change his mind no matter what people say, even if the other people give him correct evidence. Just let him continue to hate Roseman, he’s entitled to his opinion.

          Maybe Roseman is to blame for something but if he was the one who were drafting the players last year then I say well done. Though to I still wish he had traded up for Russell Wilson though, I was upset when he went to the Seahawks just a couple picks before the Eagles.

  • Absecon

    Not surprised to see the scheme angle mentioned with safeties, which is why I’ve said for months Allen and Coleman are not as bad as the past season made them look. They were both set up for failure, which is why I think they current FO and new coaches still have them around and two particular corners are gone. Neither Allen or Coleman is a salary cap issue, so no reason not to give them a shot to redeem themselves. If they struggle in camp and preseason in the new scheme, then you let them go if they aren’t going to be special teamers (A role which I don’t see Allen in, but Coleman very possibly). If one of the top safeties is available when they are at the top of the board, by all means take them and put them in the mix.

  • h

    I just read the article on ansah and he would be hard to pass up. didnt know what football was three years ago. i still want the eagles to trade down, but it he is there, hes hard to pass up

    • Jason N.

      The only way they’re getting Ansah if they trade down. The dude is raw, he’s a boom/bust player. I rather take Fisher or Lotulelei. They’re much safer. If Kelly take a player like Jordan and Ansah and they bust hard, then that’s all fans going to remember. That he took a risky player while a safer player like Fisher was still on the board.

      • h

        sorry jason, I meant that if the eagles were to trade down, they should try to take him–not take him at 4. same goes with jordan 4 is too high

        • Jason N.

          It’s alright, I think everyone is head over heel in love with Jordan and Ansah cause of their potential. But if your first round turn out to be a bust then it’s going to be hard to explain your decision. And I don’t think the Eagles can afford another disappointment right now. Drafting Fisher seem to be the safer bet.

  • Leftovers … I was thinking gefilte fish, kreploch and some nice chicken soup that should still be good