What to do when you know something that others do not? Big Upside

[Jaime Mack]

There's an extremely high-end location in Hudson county NJ that is currently for sale.  The property is "blah" as far as curb appeal, etc.  But there is a MASSIVE upside for the property that isn't being leveraged.  The upside is sort of being advertised, but not really... and even then it seen as something that can be difficult to accomplish.  However, I have information that it is far more easier to get it done.  The potential upside on the property is between $800k and $1M if this attribute is leveraged. To make it even more enticing is that the parcel it sits on, if it were to join with two other parcels (the other two parcels are owned by the same person) would make it even more desirable.  We are talking about expansive views of New York City, Empire State Building, etc.  Totally unobstructed views from a single family detached home (extremely rare in this municipality).  Dead-end street, next door to a park with the same views!  I'm extremely close to putting an offer in.  I have information that the plan would be approved.  Worse case, if plan for the upside portion aren't approved, I would still see $400k once all is said and done.

The only thing I am a little concerned about is the over-all political and economical climate of things in New Jersey... although this particular municipality has weathered the financial turmoil of the past exceptionally well due to proximity to NYC, etc.

Is anyone on this site still playing in the New Jersey speculative market?  Or has that ship sailed?