Trenton's only hotel sells quickly at auction - Fox 2 News Headlines

Trenton's only hotel sells quickly at auction

Posted: Updated:

TRENTON, N.J. (AP) - Trenton's only hotel has sold quickly at auction.

The winning bidder at Monday's auction agreed to pay $6 million for the 197-room Lafayette Yard Hotel.

Edison Broadcasting, a New York-based media company which owns several television and radio stations, beat out New Jersey-based VBCE, which owns several Dunkin Donuts restaurants and hotels in Virginia, Maryland and Pennsylvania.

The city-owned hotel and attached garage cost $60 million when it opened as the Trenton Marriott in 2002.

Marriott pulled out in July and a management company couldn't attract a new operator. The nonprofit board that oversees assets filed for Chapter 11 bankruptcy protection.

The Times of Trenton reports the city will be responsible for paying back the portion of the $14 million in debt not covered by the sale price.

PRIOR COVERAGE

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • New Jersey NewsNew Jersey NewsMore>>

  • Man convicted of murder in fatal sauce pan beating

    Man convicted of murder in fatal sauce pan beating

    Tuesday, July 29 2014 4:48 PM EDT2014-07-29 20:48:41 GMT
    A man who claimed he was high on drugs and hearing voices when he fatally beat an elderly man with a sauce pan has been found guilty of felony murder.
    A New Jersey man who said he was high on drugs and hearing voices when he fatally beat an elderly man with a sauce pan has been convicted of murder.
  • Mosquito-borne virus sickens 20 in NJ

    West Nile found in New Jersey mosquitoes

    Tuesday, July 29 2014 1:09 PM EDT2014-07-29 17:09:31 GMT
    Twenty New Jersey residents have tested positive for a mosquito-borne virus that has spread through the Caribbean. The state Health Department says the residents who came down with chikungunya had returned to New Jersey from the Caribbean. Chikungunya causes a high fever and severe pain in the joints. It is rarely fatal.
    Twenty New Jersey residents have tested positive for a mosquito-borne virus that has spread through the Caribbean. The state Health Department says the residents who came down with chikungunya had returned to New Jersey from the Caribbean. Chikungunya causes a high fever and severe pain in the joints. It is rarely fatal.
  • Stuck NJ Transit train removed

    Stuck NJ Transit train removed

    Tuesday, July 29 2014 12:24 PM EDT2014-07-29 16:24:49 GMT
    A New Jersey Transit commuter train with about 1,000 passengers on board became disabled just outside the Hudson River tunnel in Manhattan on Tuesday morning. The train which was on the Northeast Corridor line broke down near 10th Ave., according to NJ Transit officials.  It is not clear what caused the mechanical problem. Lighting and air conditioning on the train were never impacted, according to NJ Transit.
    A New Jersey Transit commuter train with about 1,000 passengers on board became disabled just outside the Hudson River tunnel in Manhattan on Tuesday morning. The train which was on the Northeast Corridor line broke down near 10th Ave., according to NJ Transit officials.  It is not clear what caused the mechanical problem. Lighting and air conditioning on the train were never impacted, according to NJ Transit.
Powered by WorldNow

WJBK-TV | Fox 2
16550 West Nine Mile Rd.
Southfield, MI 48075

Main Station: (248) 557-2000
Newsroom: (248) 552-5103

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices