Atlantic Club

TJM purchased the now-vacant Atlantic Club in 2014 for $13.5 million from a Caesars affiliate.

ATLANTIC CITY — A consulting company is in negotiations with the owners of the former Atlantic Club Casino Hotel to buy the property, the firm said Wednesday.

Advanced Consulting Inc., a New York-based real estate firm, is talking with Florida-based property owner TJM to purchase the building and turn it into a non-gambling hotel and resort, said Advanced Consulting company CEO Gem Lake.

“Work is being done, and we’re in negotiations,” Lake said by phone Wednesday.

TJM announced in September that Stockton University would not be buying the Atlantic Club, which closed in January 2014, after negotiations failed to progress.

Stockton had announced plans in August to purchase the property just prior to the opening of its $176 million Atlantic City campus.

The university said it was interested in the nine-level parking garage and the land but wanted to demolish the casino and hotel.

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