Another North Wildwood Motel Sold

Another North Wildwood Motel Sold

It is during the off-season that the Wildwoods see the most action. It’s the behind-the-scenes things that get done in order for your summer vacation to go off without a hitch.

This is also the season when we see the for-sale signs go up on many of the motels on the island.

With the way development has been on the island for the past few years, many motel owners see right now as the perfect time to retire after running these motels for many decades.

Today there is a new motel that has been added to the sold list, The Ivanhoe Motel.

Located at 430 E 21st Avenue in North Wildwood, the Ivanhoe Motel was built in 1969 and themed to the 1819 book with the same name.

As the story goes, Ivanhoe is a disinherited knight returning home to England from the crusades with the intent of restoring honor to his homeland.

One would assume that the motel takes when Ivanhoe and Rowena marry and live a long and happy life together. (If you read the book you would get it).

When the motel was first built it only consisted of 16 units. Over the years they added more bringing the total to 32 units and they purchased the house next door to rent out.

A 1972 motel brochure described the motel as “Delux two & four-room apartments with fully equipped kitchens & motel rooms accommodating 2-6 persons. Located in a quiet relaxing atmosphere, yet near to everything.” Fifty years later and all of that is still true.

The family who owned the Ivanhoe also owns the Panoramic motel next door. For several years these two were run as sister prosperities.

All of that has changed as of December 7th.

According to public records, the Ivanhoe Motel had sold. While the price wasn’t uploaded as of yet, the asking price on the listing put it at $4.4 Million.

The listing for the property described the property as;

“In the middle of the action, a short stroll to the beach, boardwalk, amusements, restaurants, and ALL resort entertainment venues. Owner operated for decades with strong seasonal occupancy. 1950’s style motel and apartments feature 1 and 2-bedroom units all with kitchenettes. Located in the Oceanside Business – 2 zone allowing for multiple resorts uses. Large owner’s unit residence on-site, pool and exterior laundry.”

What makes this listing interesting is the fact that it also indicated that the adjoining motel property is also for sale. This property they are referring to is the sister property of the Panoramic motel.

No word on if the Panoramic motel has been sold but we do have the listing to look at.

Interestingly the Panoramic Motel is a bit cheaper than the Ivanhoe Motel. Listed for 3,400,000, this motel was built in 1965 and features much of the same at the Ivanhoe Motel.

This motel was built by the Buckingham Brothers which built many of the Doo Wop motels down here like the Nautilus and Jolly Roger Motel.

There is no word at this time if these motels will continue to stay motels for Summer 2023, but it does look promising.

Another motel that will be reopening after being closed for two years is the Oceanview, now under the new name, Madison Resorts. After an extensive renovation, it should be open by Memorial Day Weekend. To find out more information about that motel click the link below. 

Oceanview Motel SAVED, To Become Madison Resort

The Panoramic Motel has been an iconic symbol for the Wildwoods since it’s been built.

Below is a home movie of the Panoramic Motel back in 1966. Watching it you can see not much has changed from the exterior of the motel.