Anthony Catanoso’s family has owned and operated the Steel Pier for 15 years of chills, thrills, cotton candy and salty-air fun jutting out over the ocean as one of Atlantic City’s iconic attractions.
But he and his brother are in their 60s, and their children have no interest in taking over the labor-intensive business.
So the pier is up for sale at an asking price of $85 million, a figure Catanoso predicted will attract a buyer interested in doing something with the property other than amusements.
“It’s sort of like a succession thing,” he said Thursday. “The next generation is not really interested.”
