The most central piece of property on Atlantic City’s Boardwalk is now in the hands of South Jersey power broker George E. Norcross III.
Atlantic City Mayor Marty Small Sr. confirmed that the site of the former Trump Plaza Hotel and Casino, whose main 39-story tower was imploded in 2021, has been sold by billionaire Carl Icahn to Norcross, his family, and undisclosed partners. (Norcross recently filed a defamation lawsuit against The Inquirer.)
The Plaza was one of three Atlantic City casinos once owned and operated by Trump before he became president. Opened in 1984, Trump Plaza shut down in 2014.
Atlantic County property records show three sales recorded on Sept. 3 associated with the site at 2201 Boardwalk: one for $5.04 million, another for $1.26 million, and the third for $349,541.
Remaining on the site are the former casino’s East Tower and a parking garage. A Rainforest Cafe is still operational.
“I’m excited to welcome George Norcross, his family and his business partners to the great city of Atlantic City,” Small said in a phone call with The Inquirer. “This is the definition of investor confidence.”
Icahn’s subsidiary, IEP AC Plaza LLC, bought the casino in December 2018 for $3 million.
Norcross previously purchased the iconic Formica bakery in Atlantic City, and has long shown an interest in the resort city.
The mayor hinted at the blockbuster sale earlier this week on the national radio show The Breakfast Club, saying “one of the most powerful people in the state of New Jersey” was the buyer.
Small had long sought an investor for the site, which is next door to the iconic Boardwalk Hall, former home of the Miss America pageant.
At the time of the tower’s implosion, he said clearing the land would be a game changer for the city. Chunks had been falling off the decrepit empty tower. But the property sat idle for 12 years.
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Small did not disclose what plans Norcross might have for the property.
Daniel Fee, a spokesperson for Norcross, did not immediately reply to requests for comment.
He told the Press of Atlantic City that details about plans for the site would be announced at a future date.
Trump Plaza had a storied three-decade run that included marquee boxing matches and concerts, and a famous feud with Atlantic City resident Vera Coking, who refused to sell her house to make way for a porte cochere.
It ended its run in a state of disrepair and as the city’s poorest performing casino.
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The two other casinos once owned by Trump now operate under new names and owners: The Trump Marina is now the Golden Nugget Hotel, Casino and Marina, and the Trump Taj Mahal is now the Hard Rock.
Small said the oceanfront site, which he called “one of Atlantic City’s premier development sites,” would not operate as a casino.
“When I announced the demolition of Trump Plaza, I spoke about the tremendous potential of this property,” he said in a statement. “While no additional casinos will be permitted in Atlantic City, we welcome the Norcross team’s vision for the property and look forward to learning more about their plans when they are ready to share them.”
Staff writer Ryan W. Briggs contributed to this article.