Share 
State of Play’s TL;DR
- Atlantic City’s Steel Pier is up for sale for $85 million.
- The sale comes as the city pursues more housing, infrastructure upgrades, and a less casino-dependent economy.
Atlantic City’s Steel Pier, one of the Boardwalk’s best-known attractions, has been listed for $85 million.
The sale puts a high-profile entertainment property into play at a time when city officials and developers are pushing for more housing, infrastructure investment, and a broader economy that is less dependent on casinos alone.
According to NJ.com, the Catanoso family said the decision to sell was a family one, not a sign of an immediate shutdown. Anthony Catanoso said the next generation is not interested in running the business, and the pier is expected to remain open through the 2027 season.
A landmark property with redevelopment potential
Steel Pier extends about 1,000 feet into the Atlantic Ocean and, according to the report, could be expanded another 1,800 feet because its riparian rights do not expire.
Catanoso told NJ.com the property was appraised at $81.7 million before being listed at $85 million. He also said the site’s steel-and-concrete construction and existing approvals could support a future hotel or condominium project.
That redevelopment angle is notable in Atlantic City, where casino-adjacent land use remains a key part of how the resort may evolve. The pier also includes a permitted helipad and space that could be converted into a wedding venue or restaurant.
Sale arrives during a broader Atlantic City reset
The listing comes as Atlantic City continues trying to diversify its tourism and economic base. Mayor Marty Small said the city wants “more housing, more jobs and continuing to diversify our economy.”
NJ.com reported that developers, including Kushner, K. Hovnanian and MGM, have expressed interest in or are building housing projects in the city. At the same time, some major properties face uncertainty: the Sheraton may close by December, the Showboat is facing foreclosure, and the Irish Pub remains shuttered after closing for renovations in January.
Atlantic City has been under state oversight since 2016; Gov. Phil Murphy extended that intervention until 2031.
For visitors, nothing changes immediately. Catanoso said bookings and online ticket sales are continuing, and that even if a buyer is found, the deal will likely take time to complete.
Based on reporting by Allison Pries for NJ.com.
