Two Motels SOLD In The Heart of Wildwood

Two Motels SOLD In The Heart of Wildwood

This off-season is starting to ramp up to be one of the biggest construction and selling years in quite some time.

Many often characterized the Wildwoods as the quintessential embodiment of the last Wild West frontier in the realm of real estate.

In recent years, these charming coastal towns have experienced an unprecedented surge in property values, driven primarily by their status as the final bastion of the New Jersey shore where a remarkable transformation has unfolded.

This transformation has witnessed the metamorphosis of traditional full-scale homes and motels into a thriving, modern-day condo boom town, leaving a profound impact on the real estate landscape of this idyllic coastal enclave.

This change has captivated the imagination of many, sparking a surge in property values that underscores the unique appeal and investment potential of the Wildwoods, as they transition from their historic past to a dynamic and vibrant future.

A great exmaple of that is the new Tiki Bar, The Point Wildwood, that will be taking over the Ocean Sands motel at 3710 Ocean Avenue.

It looks like we could be seeing yet another metamorphosis take place just two blocks away.

According to records of property transfers in New Jersey, two substantial lots were recently acquired for a combined sum of $4.58 million.

The documentation specifies that Howard Lawrence D sold both 244 E Spicer Ave and 236 E Spicer Ave, each fetching $2,290,000 in the transaction.

Upon investigating these addresses, you’ll discover two distinct motels: Binns Motor Inn (located at 244 E Spicer Ave) and Bonito Motel (situated at 236 E Spicer Ave).

Binns Motor Inn is a timeless hotel-style structure that was built in the mid-1940s by the Binns sisters.

Meanwhile, the Bonito Motel represents a vintage relic from the “doo-wop” era of Wildwood motels, established in 1964. Its historical significance for the region underscores the importance of its preservation.

Both of these properties were acquired by the same buyer, 3900 Atlantic Avenue LLC.

A deep dive into the filing documents for 3900 Atlantic Avenue LLC does dredge up some interesting results.

According to public records, this LLC is owned by the same people who own the Waves motel right now the street at 4001 Atlantic Ave.

The waves Hotel is one of the newest hotels build on the island just blocks away from the boardwalk.

This could indicate that these motels will most likely stay motels in the future.

Although there is limited information available regarding the fate of the two Wildwood motels, it appears that their website is currently offline, suggesting that they are not currently accepting reservations for 2024. It’s possible that this situation may change in the future, so it’s advisable to monitor their website for updates.

The website was last active on October 23rd.