# Steel Pier hits market for $85 million

> Atlantic City's historic amusement park is for sale with rare ocean expansion rights that could transform the Jersey Shore landmark.
- Title: Steel Pier hits market for $85 million · PhillyVoice
- Summary: Atlantic City's historic amusement park is for sale with rare ocean expansion rights that could transform the Jersey Shore landmark. Steel Pier's sale…
- Keywords: steel pier, atlantic city, amusement park, real estate, boardwalk, new jersey, development, catanoso family, ryan serhant, ocean expansion, historic landmark, news
- Source: PhillyVoice — https://phillyvoice.com/atlantic-city-steel-pier-for-sale-expansion-development
- Published: 2026-09-16T23:05:46.682+00:00
- Read time: 2 min
- Topics: steel pier, atlantic city, amusement park, real estate, boardwalk, new jersey, development, catanoso family, ryan serhant, ocean expansion, historic landmark, news
## Historic pier hits market
Steel Pier, Atlantic City's roughly 5-acre amusement park on the boardwalk, is for sale for $85 million. The oceanfront property sits across from the Hard Rock Hotel & Casino.
## Built in 1897
Steel Pier was constructed in 1897 as a theater before evolving into a carnival with rides and attractions. It became known as the Showplace of the Nation during its peak from the 1920s through early 1950s.
## Miss America's home
For a brief period in the 1930s, Steel Pier was the official venue of the Miss America pageant. The pier was a major entertainment destination when Atlantic City thrived as a tourist hub.
## Fire destroyed a third
A fire in 1969 destroyed about one-third of the pier, and other pressures caused its footprint to shrink over decades. The pier now measures about 965 feet long and 150 feet wide.
## Expansion rights included
The property has a perpetual riparian grant permitting development up to 2,850 feet into the Atlantic Ocean. This rare ocean expansion right is a major selling point for potential buyers.

> How often does someone get to own a piece of the ocean? That's exactly what this offers.
## Trump owned it once
In the late 1980s, Trump Entertainment Resorts acquired Steel Pier as part of purchasing the Trump Taj Mahal Casino Resort, now the Hard Rock Hotel & Casino. The property was later sold in 2011.
## Catanosos ran it since
The Catanoso family leased Steel Pier for years before purchasing it in 2011 for $4.25 million. Without a succession plan, the family has decided to sell the property.
## Renovations made
The Catanosos renovated the pier's 40,000-square-foot front building and skybridge, built an office complex, and made several capital improvements. The property is zoned for hotel, entertainment, and commercial redevelopment.
## Current attractions
Steel Pier's main draws today are the Crazy Crab and Loco Motion roller coasters, a 240-foot Ferris wheel, helicopter tours, and waterfront bars. The pier remains a popular boardwalk destination.
## Condo project pending
Steel Pier was approved for a condo and hotel entertainment complex in 2008, a project that never materialized but remains an option for new buyers. The front building has an easement extending into the Hard Rock's convention floor.
## Serhant sees value
Listing agent Ryan Serhant called Steel Pier a rare opportunity to reinvent a Jersey Shore landmark. He told the New York Post his brokerage has already had conversations with prospective buyers.

> If you're a high-end, high-net-worth hospitality builder, I think Atlantic City is incredible value.
## Buyers being courted
Serhant described the property as attractive to high-net-worth hospitality developers seeking value in Atlantic City. The combination of ocean expansion rights and zoning flexibility makes it a unique development opportunity.
## Key takeaway

Steel Pier's sale represents a chance for developers to reinvent a historic boardwalk attraction with permits to expand nearly 3,000 feet into the Atlantic Ocean.