Atlantic City home that scuttled Trump’s plans is finally sold

Owner gained national attention for beating eminent domain suit tied to Trump Plaza expansion

New York /
Aug.August 01, 2014 09:00 AM

A three-story building in Atlantic City that survived eminent domain — thus derailing the planned expansion of the next-door Trump Plaza — was auctioned off for $530,000.

Vera Coking and her husband bought the property for $20,000 in 1961. In the late Nineties, Donald Trump reportedly made Coking several multi-million dollar offers for the property, but she turned them down. She then beat back an eminent domain suit that would have paved the way for the expansion of Trump’s casino.

In 2011, Coking moved to a retirement community in California, and her son Ed Casey put the building on the market for $5 million. But with the recent decline of Atlantic City — the Trump Plaza is slated to close in September and several other casinos are struggling financially — the value of Coking’s property dropped dramatically.

Last year, the asking price was cut to $995,000. The city assessed the value of the property at $580,000 in 2009. [NYT] — Claire Moses 


Related Articles

arrow_forward_ios
Make Greenland Great Again? Trump wants to buy Arctic territory
Make Greenland Great Again? Trump wants to buy Arctic territory
Make Greenland Great Again? Trump wants to buy Arctic territory
Hamptons’ priciest summer rental to host MAGA extravaganza next month
Hamptons’ priciest summer rental to host MAGA extravaganza next month
Hamptons’ priciest summer rental to host MAGA extravaganza next month
From left: Michael Dell, Alex Rodriguez and Donald Trump along with the Trump Hotel in Washington, D.C. (Getty Images, The Trump Organization, iStock)
Firm that manages Michael Dell’s wealth finances deal for Trump Hotel
Firm that manages Michael Dell’s wealth finances deal for Trump Hotel
Donald Trump, Brett White, and Letitia James with 40 Wall Street (Getty, Cushman & Wakefield, 40 Wall Street, iStock)
Cushman pushes back on subpoena in Trump property probe
Cushman pushes back on subpoena in Trump property probe
A photo illustration of prominent guests  at the Witkoff wedding (via Instagram)
Nuptials Mar-a-Lago style: Donald Trump, Don Peebles, Barry Sternlicht among real estate elite at Witkoff wedding
Nuptials Mar-a-Lago style: Donald Trump, Don Peebles, Barry Sternlicht among real estate elite at Witkoff wedding
Judge Arthur Engoron, Cushman & Wakefield's Brett White, former U.S. president Donald Trump (LinkedIn, Getty Images, Illustration by Kevin Cifuentes for The Real Deal)
Judge says Cushman failed to properly value Trump properties
Judge says Cushman failed to properly value Trump properties
Former president Donald Trump, Cushman & Wakefield's Brett White and Attorney General Letitia James with 40 Wall Street (Getty, Cushman & Wakefield, ChrisRuvolo Public domain via Wikimedia Commons, iStock)
Cushman must play ball in Trump property probe: judge
Cushman must play ball in Trump property probe: judge
From left: Donald Trump, Cushman & Wakefield's Brett White and Letitia James with 40 Wall Street (Getty)
New York AG to Cushman: Comply in Trump probe
New York AG to Cushman: Comply in Trump probe
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...