Trenton's only hotel sells quickly at auction - FOX 10 News | fox10phoenix.com

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 This material may not be published, broadcast, rewritten or redistributed.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>>

  • NJ, NY officials meet about security

    NJ, NY officials meet about security

    Monday, September 15 2014 5:50 PM EDT2014-09-15 21:50:11 GMT
    With new concerns about home grown terrorism becoming more urgent, city and state officials -- including New Jersey Gov. Chris Christie, New York Gov. Andrew Cuomo, and New York City Mayor Bill de Blasio -- met with Homeland Security Secretary Jeh Johnson to devise new strategies. NYPD counterterrorism police stood watch outside the Midtown Manhattan meeting where city, state and federal law enforcement officials coordinated their new security plans.
    With new concerns about home grown terrorism becoming more urgent, city and state officials -- including New Jersey Gov. Chris Christie, New York Gov. Andrew Cuomo, and New York City Mayor Bill de Blasio -- met with Homeland Security Secretary Jeh Johnson to devise new strategies. NYPD counterterrorism police stood watch outside the Midtown Manhattan meeting where city, state and federal law enforcement officials coordinated their new security plans.
  • NJSIAA investigating alleged racist bananas incident at Summer-North Plainfield High School football game

    NJSIAA investigating alleged racist bananas incident at Summer-North Plainfield High School football game

    Monday, September 15 2014 4:49 PM EDT2014-09-15 20:49:19 GMT
    Assistant Superintendent of North Plainfield Schools Dr. Robert Rich confirmed that an incident of alleged racism occurred prior to the high school football game last Friday between Summit and North Plainfield. Rich also confirmed that there are internal and external investigations into the allegations.
    Assistant Superintendent of North Plainfield Schools Dr. Robert Rich confirmed that an incident of alleged racism occurred prior to the high school football game last Friday between Summit and North Plainfield. Rich also confirmed that there are internal and external investigations into the allegations.
  • Greta's Run in Westfield draws over 1,000 participants

    Greta's Run in Westfield draws over 1,000 participants

    Monday, September 15 2014 10:57 AM EDT2014-09-15 14:57:17 GMT
    reta Schoenemann was in her second week at Westfield High School on Sept. 11, 2002, when strong winds caused a large tree branch to fall where she and friends were sitting for lunch. All 10 of the students below were injured. Greta died four days later.This Sunday, her memory will be honored at the second annual Greta's Run, a 5K fundraiser for special needs programs at the Westfield Area Y.
    reta Schoenemann was in her second week at Westfield High School on Sept. 11, 2002, when strong winds caused a large tree branch to fall where she and friends were sitting for lunch. All 10 of the students below were injured. Greta died four days later.This Sunday, her memory will be honored at the second annual Greta's Run, a 5K fundraiser for special needs programs at the Westfield Area Y.
Powered by WorldNow

KSAZ-TV & KUTP
511 W. Adams St.
Phoenix, AZ 85003

Phone: (602) 257-1234
Fax: (602) 262-0177

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