The long-closed Trump Plaza’s remaining hotel and casino tower, located at 2201 Boardwalk in Atlantic City, is back on the market. The property, which includes a rear garage across Pacific Avenue, was built in the early 1980s and spans a considerable 10.7 acres. Transfer of ownership is being managed by IEP AC Plaza, LLC, a subsidiary of Icahn Enterprises, with commercial real estate firm Avison Young handling the listing. Although the exact asking price has not been revealed, the site’s history and potential make it a noteworthy entry in the real estate market.
Originally listed by brokerage Binswanger in 2023, the Boardwalk site covers 1.87 million square feet and is zoned for resort commercial use. Over the years, the property has seen better days; its Boardwalk-facing portion, once home to Rainforest Café and Nathan’s Famous, now teeters on the edge of condemnation due to severe deterioration. Opened in May 1984 with an eye-watering investment of nearly $1 billion, Trump Plaza was intended to stand as a beacon of luxury and high-roller allure. However, it failed to deliver on those grand promises, underperforming in comparison to its
Originally listed by brokerage Binswanger in 2023, the Boardwalk site covers 1.87 million square feet and is zoned for resort commercial use. Over the years, the property has seen better days; its Boardwalk-facing portion, once home to Rainforest Café and Nathan’s Famous, now teeters on the edge of condemnation due to severe deterioration. Opened in May 1984 with an eye-watering investment of nearly $1 billion, Trump Plaza was intended to stand as a beacon of luxury and high-roller allure. However, it failed to deliver on those grand promises, underperforming in comparison to its competitors and becoming one of Donald Trump’s many business ventures riddled with financial woes.
Running Trump Plaza and other Atlantic City casinos through his firm Trump Entertainment Resorts (TER), Trump oversaw operations for 13 years. Throughout this period, reports suggest the company hemorrhaged approximately $1.1 billion, leading to eventual bankruptcy and a subsequent takeover by a private equity firm. Even after Trump vacated the Atlantic City scene, his name continued to be plastered across the properties due to a branding fee arrangement. This scenario spiraled into a legal battle in August 2014, with Trump seeking the removal
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