It is a mistake the closing price was $760,000 see mls display here: https://www.jerseyshoremls.net/njs/maildoc/sd_EKXnrh20130328162415.html
If you have any other question on LBI please feel free to call me, I'm a local agent who actively works that market. It's important that you work with knowledgeable agent, not those who make wild guesses and spread false rumors.. The property actually went under contact 2 days after the storm and there was less than $500 in damage to the home from the storm.
Have a great day.
Prudential Zack Shore Properties
Office: 609-597-6464 ext 1268
Tollfree Direct: 800-594-3315