The Former Trump Plaza Casino in AC Goes on Sale
A single tower and its surrounding land are up for sale in Atlantic City, over 2.5 years after the collapse of the old Trump Plaza Hotel & Casino.
The property at 2201 Boardwalk is listed on the commercial real estate listing website LoopNet without a specific selling price. The property has about 1.2 million square feet and stands on around 9.46 acres.
On the property, which is close to the north of the empty lot where the Trump Plaza casino had stood until it collapsed on February 17, 2021, there are two partial tenants: Rainforest Cafe and B&B Parking.
Prime Property Estate on the Most Famous Boardwalk in the World
IEP AC Plaza, LLC, a division of Carl Icahn’s publicly listed corporation Icahn Enterprises, is the owner of both properties. The seaside parcels in the city center are among the most expensive pieces of real estate in AC. However, the land is not producing much for the city in its current form.
According to state tax records, Icahn paid more than $55,000 in taxes on the parking and restaurant lot in 2022. That year also saw a tax bill of more than $70,000 for the empty space where the 39-story main hotel tower and casino of Trump Plaza formerly stood.
In contrast, the owner of the previous Atlantic Club Casino Hotel and the nearby parking garage forked down more than $271,000 in taxes for the two properties in 2022.
In 2014, the Atlantic Club and Trump Plaza both shut their doors. The other two establishments that closed their doors in 2014 were Revel Casino Hotel and Showboat Casino Hotel (the latter operates as a resort at the moment with no intentions of relaunching gambling operations).