Home owned by Trump holdout sells at auction

Atlantic City home whose owner fought developers sells for fraction of what Trump once offered

Associated Press
Home owned by Trump holdout auctioned for $530,000
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Trump Plaza Hotel and Casino towers over Vera Coking's three story rooming house Wednesday, July 23, 2014, in Atlantic City, N.J. The decrepit boarding home owned by the Atlantic City woman who has been turning down multi-million dollar offers for the building in the shadow of Trump Plaza since the 80’s is now up for auction. With a reserve price of only $199,000, the fate of the house has gone down along with the city’s casino industry. On July 31, the property, at 127 South Columbia Place, will go up for auction. As recently as eight years ago, Donald Trump was willing to pay at least 10 times that amount so he could expand Trump Plaza Hotel and Casino. (AP Photo/Mel Evans)

An Atlantic City-area real estate figure has bought at auction a property that earned its owner near-folk hero status for resisting decades of overtures from developers including Donald Trump.

Joshua Olshin of AuctionAdvisors says Vera Coking's modest three-story boardinghouse sold Thursday afternoon for $530,000 plus 10 percent commission. Olshin says that bidding was active and that the winner wishes to remain anonymous.

Coking is 86 and has moved to California to be near family. She rebuffed repeated offers from Trump and an attempted state takeover of her property.

Trump said earlier this week he had once offered Coking millions of dollars and housing for life if she would sell.

Thursday's bidding started at $199,000, priced to sell in Atlantic City's now-depressed real estate market.

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