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BREAKING: Multiple Bids Placed on Wonderland Pier, according to ICONA Developer Eustace Mita.
Last month, OCNJ’s City Council turned down a resolution that would’ve asked the Planning Board for their opinion on 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 mega-hotel.
After the ruling, Eustace Mita said he would sell the property at fair market value, which he said was $25,000,000. Mita says two bids have been placed, both with residential plans for the site.
QUICK FACTS:
The Norcross Family has bid $25M+, according to Eustace Mita.
Ryan Homes, a home construction company, is also expected to place a bid.
Eustace Mita has not accepted either offer as of 9/12/2025.
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.
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