Man of Steel Pier
Amusement park operator
By Jared Kaltwasserfrom: www.njbix.com
October 03. 2011
Steel Pier amusement park’s bungee-powered Rocket ride blasts thrill-seekers 200 feet into the air, then hurtles them back to earth.
The park’s president, Anthony Catanoso, likes a good adventure, but after nearly 20 years of short-term leases and constant insecurity, the new co-owner of the pier property is happy to have his feet firmly on the ground.
Catanoso is a principal of Steel Pier Associates, which purchased the pier from Trump Entertainment Resorts in August for $4.25 million.
Steel Pier Associates is comprised of Catanoso, two of his brothers, Ed Olwell, and architect Paul Steelman. With the exception of Steelman, Catanoso, his brothers and Taft Johnson, have operated the pier amusement park since 1993 under a series of short-term leases from Trump Entertainment.
In its early days, the 113-year-old pier was a major entertainment hub, playing host to acts like The Three Stooges, Amos ’n Andy and Frank Sinatra, as well as carnival shows and attractions like a diving horse. The pier closed in 1976 and burned down in a 1982 fire, but it got a new start when Resorts International rebuilt the pier and sold it, along with the under-construction Taj Mahal casino, to Donald Trump.
A decade later, seeing a healthy market and demand for family entertainment, Catanoso and his partners approached Trump Entertainment about taking over operation of the pier. It took some convincing, he said.read more:http://www.njbiz.com/article/20111003/NJBIZ01/110939982/Man-of-Steel-Pier
The park’s president, Anthony Catanoso, likes a good adventure, but after nearly 20 years of short-term leases and constant insecurity, the new co-owner of the pier property is happy to have his feet firmly on the ground.
Catanoso is a principal of Steel Pier Associates, which purchased the pier from Trump Entertainment Resorts in August for $4.25 million.
Steel Pier Associates is comprised of Catanoso, two of his brothers, Ed Olwell, and architect Paul Steelman. With the exception of Steelman, Catanoso, his brothers and Taft Johnson, have operated the pier amusement park since 1993 under a series of short-term leases from Trump Entertainment.
In its early days, the 113-year-old pier was a major entertainment hub, playing host to acts like The Three Stooges, Amos ’n Andy and Frank Sinatra, as well as carnival shows and attractions like a diving horse. The pier closed in 1976 and burned down in a 1982 fire, but it got a new start when Resorts International rebuilt the pier and sold it, along with the under-construction Taj Mahal casino, to Donald Trump.
A decade later, seeing a healthy market and demand for family entertainment, Catanoso and his partners approached Trump Entertainment about taking over operation of the pier. It took some convincing, he said.read more:http://www.njbiz.com/article/20111003/NJBIZ01/110939982/Man-of-Steel-Pier
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