Philadelphia developer Bart Blatstein has been cleared by a judge to buy 64,000 square feet of waterfront land in Atlantic City’s Inlet section for .2 million.
The site is separate from the former Showboat casino site that Blatstein plans to purchase in January. Blatstein also operates The Playground entertainment complex on the city’s Boardwalk. Again, none of the three properties are connected
Blatstein’s company Poplar East Associates won an October auction for the land and the purchase has been cleared by a federal judge, according to the Press of Atlantic City. Blatstein has not said what he plans to use the property for, but the site is in an area where the Army Corps of Engineers is building a seawall and extending the Atlantic City Boardwalk.
Plans for luxury condominiums at the site have been proposed by other developers in the past, but none of the projects got off the ground.
According to the Press, MRCEM, a privately held company whose sole real estate asset is the land, was unsuccessful in developing the property and filed for bankruptcy protection in February.
In another deal, the Press reported that Pennsylvania real estate firm Endeavor Property Group has paid $1.5 million for a former parking lot site for the Closed Atlantic Club casino.
The group has said it plans to buy the former casino in the past, but did not comment on this purchase or if it still intends to buy the former casino. The group has also said it plans to build a waterpark in the resort in the past.
