One of Atlantic City’s most iconic landmarks is officially for sale and comes with condo and hotel approvals, plus recent renovations.
The Atlantic City Steel Pier, situated across from Hard Rock Hotel & Casino, is now listed with Michele Zyska, Kevin Bergin and Ryan Serhant of SERHANT. for $85 million. The Steel Pier, originally opened in 1898, presents a rare redevelopment play on the East Coast, as the five-acre oceanfront landmark comes with riparian rights, a built-in helipad, and prior condo-hotel approvals.
The facility has been a well-known destination for tourism and the entertainment industry for over a century and was once billed as the “Showplace of the Nation.” The current owner purchased the pier in 2011 and undertook several capital improvements within the office building complex, exterior refurbishment of the front building and sky bridge that are attached to the Hard Rock, construction of a full kitchen with two walk-in freezers and two walk-in refrigerators, and a complete electrical, plumbing, and lighting upgrade.
The pier may seem familiar even to those who have never visited, as it has been used as a filming location for productions including The Long Kiss Goodnight, The Bounty Hunter, Five Dollars a Day, and the television series Cake Boss. The structure itself is 150 feet wide and 965 feet long but can extend up to 2,850 feet into the Atlantic Ocean due to a perpetual riparian grant.
In 2008, the property was approved and permitted for a condo hotel entertainment complex by its former owner. Its zoning supports hotel, entertainment, and commercial redevelopment, and a future buyer has a meaningful runway to build. A 25% expansion of the existing footprint can be completed, and the front building’s sky bridge carries an easement into Hard Rock that provides ingress and egress to the casino’s convention floor.
The Steel Pier is currently used as a classic Jersey Shore-style amusement park, as it has since it opened over a century ago long before the days of casino gambling in the seaside city.
