Yeah, it's also currently divided into 8 parcels.
If and when a developer snags it, he'll likely tear down all the old homes and go to town dividing it up into a bazillion "parcels".
64 acres of land is still 64 acres of land.
I imagine one of the two surrounding towns has some kind of governmental dictatorship over the village. But if someone "owns" a village... doesn't that come with its own zip code and the rights to disassociate itself from local government regulations?
Like when Walt Disney bought all that land in Reedy Creek/Orlando. He didn't have to succumb to wetlands regulations or building codes.
As a matter of fact, a lot of people don't realize just how much "power" Disney World has. They can create their own law enforcement, emergency services, judicial/civil/criminals courts, they can issue tax-free bonds and don't have to be constrained by many enforcements that most towns have to deal with.