Fox for Sale
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The infamous Fox Manor Hotel is for sale, according to the big sign we saw on the side of the building while driving down Pacific Avenue the other day.
Is Icahn Getting Ready to Sell the Trump Plaza?
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Billionaire investor Carl Icahn appears to be getting ready to sell his remaining Atlantic City property, the Trump Plaza. An Icahn-backed company, IEP AC Plaza, recently paid $3 million for the deed to the long-shuttered casino, according to property documents filed in December. (You can have a look at the docs here and h/t to Reuben Kremer for his ceaseless monitoring of the property records).
Icahn’s conglomerate Icahn Enterprises took control of the Trump Plaza and Trump Taj Mahal when the previous owner, Trump Entertainment Resorts, entered bankruptcy in 2014. Icahn sold the Taj Mahal to a consortium of local investors and Hard Rock International in 2017. But his attempts to sell the Plaza were stymied by the site’s ground lease, which was held by earlier investors and acted as a so-called poison pill to prevent the sale, according to the New York Post.
More about: Atlantic City, News, Real Estate Report, Atlantic City, Boardwalk, Carl Icahn, demolition, Donald Trump
Mystery Buyer Nabs 101 S MLK, Best Western Gets $3 Mln Mortgage, Stockton Donor Buys Beach-Block Lots
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Atlantic City’s real estate market has had a relatively busy spring so far. A shell company earlier this month spent $510,000 on an Atlantic City building that includes a Pacific Ave storefront and apartments, the Best Western has a new mortgage and a Stockton donor has acquired two beach-block lots from the Atlantic Club.