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BIDDING WAR: Multiple Bids Placed on Wonderland Pier Property
Last month, OCNJ’s City Council rejected a resolution that would have asked the Planning Board to consider designating the Wonderland Pier site a property in need of redevelopment. This was the first step required for Eustace Mita to turn the site into a 252-room resort.
Following the ruling, Eustace Mita announced he would sell the property for what he considers it’s fair market value—$25 million. Since then, he has received at least two bids.
✅ QUICK FACTS:
The Norcross Family has bid $25M+, according to Eustace Mita.
Ryan Homes, a home construction company, also expected to bid.
Eustace Mita has not accepted either offer as of 9/18/2025.
Remember, the Wonderland Pier site is not currently zoned for residential property. If the buyer intends to build a residence or hotel, it will require a zoning change.
🗓️ TIMELINE:
August 9th, 2024: Gillian announces Wonderland Pier will permanently close on October 13, 2024. Eustace Mita owns property.
November 14, 2024: Eustace Mita announces his plan for a 252 mega-hotel at the Wonderland Pier site.
March 18, 2025: Downtown Merchants, Boardwalk Merchants vote in favor of Mita’s 252-room hotel.
August 21, 2025: City Council Rejected resolution required to begin “ICONA in Wonderland” redevelopment approval process. Mita announces he will sell the property.
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