Daily News | Atco Dragway sold but the buyer is still a mystery
Atco Dragway’s owner says he has sold the property, according to Waterford Township Mayor Tom Giangiulio, Jr.But Giangiulio said Leonard Capone Jr., the raceway’s owner, would not divulge the name of the buyer, nor did Capone claim to know what the purchaser intends to do with the property. The only other detail Giangiulio seemed to have was the new owner is a private buyer from Florida.
“The settlement has already occurred,” the mayor said. “We have no idea as to what will be done with the property or the time frame when anything will occur. This was a sale of a piece of property that was purchased in a private transaction.”Neither Capone nor his lawyer, James Maley, could be reached for comment.the evening of July 18 when the announcement was posted on the raceway’s Facebook and Instagram pages.
The Waterford Township Joint Land Use Board reviewed the development and rejected it, based on environmental and other concerns. As of last week, no new applications for the property had been made to the Pinelands Commission. Any use but as a dragway would require commission review and approval, said a spokesman.
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