This has been a crazed summer as it pertains to motels and hotels sold in the Wildwoods.
As you know, for the past three years we have posted when motels and hotels sold in the Wildwoods. Since we started recording this data this summer has highlighted itself to be the highest amount of motels / hotels sold. Even looking back at the records we haven’t see this many sales in the summer months since 2005-2006.
Before we jump into what just sold let’s recap on what has sold this year.
Now that you are caught up let’s add two more motels to this list.
While scrolling down the Property Transfer Records for Cape May Country we noticed that two buildings had sold, 4211 Ocean Ave had sold for $1,025,000 and 6501 Ocean Ave had sold for $4,550,000.
Looking at the addresses we found that the 4211 Ocean Ave was the address for the Monaco Motel and 6501 Ocean Ave was the address for the Ocean Holiday.
There had been rumors that Icona, the beach resort chain had purchased the Ocean Holiday but we haven’t confirmed it yet.
What was also interesting is that on the Property Transfer Records we found that the boardwalk stores, 4208-4218 Boardwalk, sold for $2,130,000. This is the block that has the White Dolphin Restaurant.
Now I know that the Monaco motel will stay a motel. As the Ocean Holiday goes I am going to reach out to the owners again to see if I can get an answer.
Please tune back in for more updates.
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