Atlantic City’s Steel Pier Is For Sale For $85 Million, And You’d Legally Own Part Of The Ocean

I'd imagine the amusement business is a hard one to be in. Owning and operating a theme park seems like a dream when you're a kid, but as an adult, you may see how it's a difficult job that costs a lot of money to maintain.

NJ Amusement Parks Have Been Closing A lot Recently

A few reasons I think this: by the way, a few years ago we saw Gillians Wonderland Pier close in Ocean City; it just didn't make financial sense for the owner anymore. I also saw that Clementon Park is closing after this season, unless another buyer steps up to the plate.

And now, one of the most iconic piers not just in New Jersey, but in the world is for sale, and you have the unique opportunity to not only purchase a piece of amusement history, but also own a piece of the Atlantic Ocean that sits beneath it!

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Steel Pier In Atlantic City, NJ, Is Now On The Market

Steel Pier sits off the Atlantic City Boardwalk and is one of the most legendary piers in New Jersey. For the past 15 years, the amusement pier has been owned by the Catanso family, who purchased the pier for just over 4 million dollars.

How Much Is Steel Pier Selling For?

Now, the asking price for the pier has increased 20-fold, with an asking price of 85 million dollars.

With that insane price tag, though, you have a unique opportunity.

If You Buy Steel Pier, You Also Own The Ocean Underneath The Pier

According to the New York Post, part of the deed to Steel Pier states that you own roughly 2,000 square feet of the Atlantic Ocean that sits beneath the pier.

Right now, Steel Pier is 150 feet wide and 985 feet long, and if you were to purchase the property, you'd actually own the ocean 1,885 feet out into the water. That leaves room for you to expand the pier if you purchase it, or get creative and do something different,