Steel Pier in Atlantic City listed for $85 million

The historic Steel Pier in Atlantic City, New Jersey, has been listed for sale at $85 million. The five-acre amusement park, which opened in 1898, is being marketed as a significant redevelopment opportunity.

The property currently features a 965-foot-long pier connected to the Hard Rock Hotel & Casino Atlantic City via a sky bridge. It includes a 40,000-square-foot building, a Ferris wheel installed in 2017, and a helipad.

A key aspect of the sale is a perpetual riparian grant from the state of New Jersey, which allows the pier to be extended up to 2,850 feet into the Atlantic Ocean. A 2008 permit also provides for the potential development of a condo-hotel entertainment complex featuring commercial and hospitality components.

Originally known as the ‘Showplace of the Nation,’ the pier has appeared in various films and television productions. The listing is being handled by Michele Zyska, Kevin Bergin, and Ryan Serhant of Serhant.