Former Jersey Shore Bank To Possibly Turn Into Luxury Hotel

A former bank located in a Jersey Shore town might be the site of a new luxury hotel. Per NJ Advance Media, Icona, a high-end resort developer, has its eyes set on a former historic bank located in Ocean County. The luxury hotel chain is reportedly looking to develop a boutique hotel pending a $6.5 million deal.

According to court records obtained by the publication, the owner of the seven-story building at 801 Asbury Ave. filed for bankruptcy in May 2021 and the bank has since been on the market. The Crown Bank building is located in downtown Ocean City. Per NJ.com, "Ocean City officials have expressed interest in the site, legal filings indicate the city has been unable to compete with Icona’s offer." The sale is expected to close at year's end officials told the site.

"Any other interested party can come in and object," said attorney Brian Thomas, the appointed property trustee, told NJ.com. But, he said, "if things go smoothly, there will be an order and subsequent to that, a closing set up."

Icona also has its eyes on a former warehouse that was turned into a commercial lease building. The property is located at 176 Route 50 in Estell Manor in Atlantic County. The owner of the Crown Bank also owns the commercial lease building.

The luxury hotel developer has not publicly released a statement on the potential plan for the commercial lease property if they were to complete the purchase.

As fall slowly approaches, you can still bask in one of New Jersey's greatest treasures: its 130-mile shoreline. One beach in particular however ranks as one of the best on the entire east coast. According to MSN, Cape May ranks supreme over Jersey's other beaches and all that reside on the eastern seaboard.

The site says that Cape May's Victorian bed and breakfast destinations are one of the beach's unique features, and are a big draw. Per CapeMayCity.com, Cape May's renaissance began at the end of the 20th century. That's when entrepreneurs came back to the Cape and restored the beautiful Victorian homes we see and love today. They restored many of them for use as bed and breakfast inns, guest houses, restaurants, and shops.

After business was once again booming on Jersey's pristine shoreline, culture was brought back to the Cape. "The Mid-Atlantic Center for the Arts was given a trolley and began tours of Cape May bringing its history to life and providing income for the restoration of the Physick Estate and eventually the lighthouse," the site reports. "Louisa’s Restaurant, opening in the early '80s was one of the first alternative eating establishments," the publication added.

The success of these ventures made the Cape a popular place for investors to see the shore town in a new light. Cape May's popularity as a seaside resort also included the creation of the Washington Street Mall in 1971 and other smaller restoration projects that began in the '80s.

Although Cape May is gorgeous in the warmer months, it is not just a summertime destination. Visitors can enjoy the Cape May Bird Observatory, Cape May's County Park and Zoo, The Whale Watch and Resource Center and the Naval Air Station at the Wildwood Aviation Museum on chillier days.

While there is still a few weeks left of warm weather, consider planning your next trip to the shore. Take a look at some beach activities you can enjoy on your next adventure to Cape May:

Swim Information from Cape May: Swimming is welcome. For your safety, the Beach Patrol recommends not swimming past chest-deep water (areas may be marked with flags). Ocean conditions may change quickly. Please check with the nearest lifeguard stand before you attempt distance swimming.

Skimboarding is a boardsport in which a skimboard is used to glide across the water's surface to meet an incoming breaking wave and ride it back to shore. Skimboarding Information from Cape May: Skimboarding is allowed with the permission of lifeguards.

Volleyball Information from Cape May: Volleyball nets are available at Steger Beach (Beach Ave & Jackson St) and at 2nd Avenue Beach (2nd Avenue & Beach Ave). They’re located on the beach, so you will need a beach tag to play, and please BYOB (bring your own ball).

Surf Information from Cape May: Surfing is permitted at Poverty Beach (Wilmington Avenue), The Cove, Surfing Beach (Gurney Street), and South Queen (Queen Street).

Fishing Information from Cape May: During guarded hours, fishing is permitted along the quarter-mile stretch east of the Brooklyn Avenue storm pipe. Fishing is prohibited at all other beaches during guarded hours.

Kayaking Information from Cape May: Kayaking is permitted past the bathing zone. You can launch east of Poverty Beach and west of The Cove stand.

Picnic Information from Cape May: Food and beverages are welcome on the beaches. Just don't bring any alcohol or use any portable cooking devices. And please remove everything you bring with you.

Sandsculpting Information from Cape May: Create the sand sculptures of your dreams. If you dig holes, make sure they're no more than waist height of the shortest person in your group. And please fill them in before you leave the beach.