A good number of properties were not transferred to Conrail and remained the responsibility of the former RR company to dispose of; this is how some shortlines were able to lease lines from the PC after C-day. In most cases though these were light density lines or otherwise redundant and once the track was pulled the land was sold, as well as related property such as structures and shops. Not sure what the issue is regarding this case, perhaps the track was removed and the property allowed to sit unused. Penn Central of course still exists today under a new name, while the Reading Company only recently moved it's headqaurters to California to become some kind of movie production company (I believe) after selling the former RDG building in PA. About all they retain from the RR is the name itself at this point. Believe the LV, EL and CNJ all dissolved once real estate and other financial matters completely tied up.