Atlantic City boarding house that was thorn in Trump’s side sells for $530K

A three-story boarding house in Atlantic City once coveted by casino developers Bob Guccione and Donald Trump — both wanted to buy it and knock it down to clear the way for their projects — isn’t such a hot property anymore.

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On the market last fall for $995,000, 127 South Columbia Place sold at auction Thursday for $530,000. Photo: auctionadvisors.com.

Donald Trump has said he would have paid owner Vera Coking millions of dollars a couple of decades ago for the 29-room boarding house she and her husband bought for $20,000 in 1961. Coking’s family says she would have sold to Trump — or Guccione before him — if either had been willing to pay fair market value.

With Atlantic City in decline, turns out the fair market value — as determined by an auction Thursday — is $530,000 ($583,000 if you throw in the 10 percent auction fee the undisclosed buyer will pay).¬†Coking is 91 today, and living in California. Trump Plaza is scheduled to close in September, and will lay off 1,100 workers. Source: pressofatlanticcity.com.


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