One of Atlantic City’s most recognizable properties has hit the market with an $85 million asking price.
The historic Steel Pier at 1000 Boardwalk is being marketed for sale as a major redevelopment opportunity.
The five-acre oceanfront property sits directly across from the Hard Rock Hotel & Casino.
Currently operating as an amusement park, Steel Pier has served as an Atlantic City entertainment destination for more than a century.
The landmark first opened in 1898 and became closely associated with the city’s tourism industry.
However, the property’s size and unique development rights could create opportunities beyond its existing amusement use.
The pier measures approximately 150 feet wide and 965 feet long.
Notably, a perpetual riparian grant allows the structure to extend up to 2,850 feet into the Atlantic Ocean.
The property also includes riparian rights and a built-in helipad.
Additionally, the front building, sky bridge, and roof area contain approximately 40,000 square feet.
Previous approvals could also factor into the property’s redevelopment potential.
In 2008, plans were approved for a condo-hotel and entertainment complex at the site.
Steel Pier Associates acquired the property for $4.25 million through an auction in 2011.
At that time, the pier was associated with the former Trump Taj Mahal property.
The neighboring casino later closed before reopening as the Hard Rock Hotel & Casino in 2018.
Today, Steel Pier occupies a prominent position along Atlantic City’s oceanfront and Boardwalk.
Its location, acreage, development rights, and tourism history distinguish the property from traditional redevelopment sites.
Furthermore, the $85 million listing comes amid renewed investment and redevelopment activity throughout Atlantic City.
A future sale could bring another significant development opportunity to the city’s evolving Boardwalk corridor.
For more information about Atlantic City properties for sale or lease, please contact WCRE at 215-799-6900.
Wolf Commercial Real Estate, a full-service CORFAC International brokerage, advisory, and property management firm, is a premier Atlantic City commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors, and sellers.
Please visit our website, www.wolfcre.com, for a full listing of commercial properties for lease or sale through our commercial real estate brokerage firm.
