Former Trump Plaza Site In Atlantic City Hits The Market Again
The site of a defunct Atlantic City casino once owned by President Donald Trump is again up for sale after failing to sell two years ago.
The beachfront property at 2201 Boardwalk was listed on Crexi on Sept. 16, with no asking price provided for the 10.7-acre parcel. It housed the Trump Plaza Hotel and Casino until the casino closed in 2014.
Icahn Enterprises subsidiary IEP AC Plaza LLC owns 2201 Boardwalk, according to the Philadelphia Business Journal, which first reported the offering. Avison Young is handling the listing. The property was previously placed on the market in 2023 by Binswanger.
Trump Plaza opened in 1984 during a boom in Atlantic City's gaming industry. It was one of three casinos Trump owned in the city. One of the Trump Plaza towers was demolished in 2021. A portion of the remaining building still houses a Rainforest Cafe location.
The property is in a federal opportunity zone and can accommodate up to 3.5M SF of development, according to the listing. Atlantic City’s Resort Commercial District allows residential, commercial and hotel uses.
Trump Plaza was one of several Atlantic City casinos to shutter in 2014. The municipality's financial situation grew dire after the wave of closures, and it was taken over by the state in 2016. The state remains in control of the city's finances nearly a decade later, but some real estate investors expressed optimism about a rebound for the municipality.
Tower Investments CEO Bart Blatstein owns 35 acres in the city, including the Showboat Resort. During Bisnow’s Aug. 19 South Jersey State of the Market event, Blatstein said he was particularly bullish on Atlantic City’s outlying neighborhoods. He sees these properties as primed for residential development, especially as nearby beach towns grow increasingly expensive.
