A retro motel in North Wildwood got a modern makeover and has been converted into condotel units.
It’s a concept that North Wildwood has established through an ordinance in which units within a motel structure are individually owned, like condos.
Units must be rented on a daily or weekly basis and cannot be rented for more than 20 consecutive nights. They also cannot be used as a primary residence.
Rentals must be handled through a central office maintained by the condominium association.
“When you have people who come down for a few days or a full week, they tend to … go to restaurants, go on rides, go to the waterpark,” Brian Reed of Long and Foster Real Estate, said. “When people come on vacation they try to do as much as they can. When they come for the full season they might do the rides once or twice.”
Last week, Reed listed 13 one-bedroom condotel units for sale in the former Panoramic Motel, which is now the Beach House Condominiums.
They are about 350 to 360 square feet, include a kitchen and are being sold furnished. Prices range from $299,777 to $314,777. There is an additional $341 monthly condo fee, which includes utilities, insurance and exterior maintenance, Reed said.
Renovations to the building were mostly cosmetic — paint, new vinyl plank flooring, new windows and doors, a new roof, reglazed bathrooms and a refreshed pool.
The Beach House Condominiums will have a total of 23 units. Two-bedroom units and at least one three-bedroom unit are still undergoing improvements, Reed said.
The building is located on a beach block, about four blocks from the boardwalk and near the former Ivanhoe Motel, which was torn down earlier this year to be redeveloped into five single family homes.
Another Doo Wop style motel in North Wildwood, the Chateau Bleu, was also approved for demolition earlier this year. It will be replaced by three homes.
North Wildwood Mayor Patrick Rosenello said he is pleased that the former Panoramic Motel was repurposed.
“With the loss of so many transient rental properties over the years this change of ownership helps to maintain transient rental units in the city,” he said. “As a resort town that people want to come and visit, having affordable vacation rentals is an important part of the overall economy of the town and the island.”
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