Florida real estate Company TJM Properties will remain the owner of the shuttered Atlantic Club Following the latest of a flurry of Unsuccessful sale deals
Another sale deal for the shuttered Atlantic Club Casino Hotel in Atlantic City has dropped, neighborhood news outlet The Press of Atlantic City reported Tuesday.
Reports emerged last month a notice of reimbursement to the sale of the closed hotel and casino property was registered by Atlantic County. According to the filing, Philadelphia-based investment management firm North American Acquisitions was the purchaser of the Boardwalk hotel.
A spokesperson for the Atlantic Club’s current owner, Florida-based property company TJM Properties, denied the selling reports back afterward . He advised The Press of Atlantic City a month which TJM had spoken with Jeffrey Smolinsky, a Senior Partner in North American Acquisitions, a handful of times but had not heard from him in a Couple of Weeks.
Apparently, the owner of the shuttered casino continued on February 19 the formerly submitted notice of settlement that denoted the impending sale of their property. TJM did not respond to requests for comment on the latest developments surrounding the former hotel and casino hotel.
The Atlantic Club closed in January 2014 after more than three decades of operations. The property was the initial of five Boardwalk hotel and casino resorts to shut doors over a two and a half a year consequently from growing rivalry in the area and the city’s diminished economy in the post-Great Recession era.
Another Failed Sale Deal of Many
Caesars Entertainment Corp. and Tropicana Entertainment had purchased the Atlantic Club shortly before it was shuttered. Caesars assumed control over the house to market it to TJM Properties five weeks after its closure.
The Florida real estate firm has tried to market the unfortunate hotel and casino hotel many times over the past five years, but with little success. Reports emerged late last year that New York property company Advanced Consulting Inc. was interested in buying the Atlantic Club and reopen it as a non-gambling hotel and entertainment resort.
Earlier in 2018, Stockton University unveiled plans to buy the closed house and utilize its own nine-level garage and the neighboring land for its Atlantic City expansion purposes. Stockton officials stated they would demolish the hotel ’s building to clear the site. However, a transaction never happened.
A growth group had, also, expressed interest from the Atlantic Club a few years back. It’d planned to renovate and change the former hotel and casino complex to a family-friendly destination hotel with an indoor water park and many other attractions. Those programs had died two only a couple of months after their original unveiling.
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