Uncertain Future Again for Historic AC Hotel

Sunday, Oct 13, 2013  |  Updated 7:32 PM EDT
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Uncertain Future Again for Historic AC Hotel

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It's back to a future of uncertainty for one of Atlantic City's landmark hotels.

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The Madison Hotel appeared to have a buyer for $4 million back in May. But the deal fell through and now the property is listed at $5 million.

A real estate broker handling the latest sale tells The Press of Atlantic City that potential buyers are interested again, including one who envisions the Madison as high-end lodging if a deal can be worked out with a major hotel chain.

The Madison was built in 1929 and until several years ago had been affiliated with the Sands casino, which used it as a companion hotel for gamblers. It's been mostly closed since the Sands shut down in 2006.

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