Someone just bought Fernwood resort for a song

My cuz calls me this morning from up north and says that some guy bought Fernwood resort for 600 grand plus taking on a mortgage of just over a million.

You know this place? I've played golf there and it is HUGE and on prime real estate by the Delaware river. And the guy can buy all this for about 1.7 million? Whats going on up north, how can this be?

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