Trenton's only hotel sells quickly at auction - FOX 10 News | myfoxphoenix.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 This material may not be published, broadcast, rewritten or redistributed.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>>

  • German Shepherd called to jury duty

    German Shepherd called to jury duty

    Wednesday, April 16 2014 6:16 PM EDT2014-04-16 22:16:16 GMT
    At least one prospective juror in New Jersey could take a bite out of crime. Cumberland County has summoned IV Griner to jury duty. The only problem is IV is a 5-year-old German Shepherd.
    At least one prospective juror in New Jersey could take a bite out of crime. Cumberland County has summoned IV Griner to jury duty. The only problem is IV is a 5-year-old German Shepherd.
  • Woman allegedly exposes genitals during heroin arrest

    Woman allegedly exposes genitals during heroin arrest

    Wednesday, April 16 2014 3:47 PM EDT2014-04-16 19:47:46 GMT
    A Barnegat woman tried to spit on police officers and repeatedly exposed her genitals during a heroin arrest.  Police say that Angela Woerner, 28, was in the parking lot of the CVS on West Bay Avenue. An officer saw her and knew that she had outstanding warrants out for her arrest.
    A Barnegat woman tried to spit on police officers and repeatedly exposed her genitals during a heroin arrest.  Police say that Angela Woerner, 28, was in the parking lot of the CVS on West Bay Avenue. An officer saw her and knew that she had outstanding warrants out for her arrest.
  • Giant whale pulled out of Jersey City harbor

    Giant whale pulled out of Jersey City harbor

    Wednesday, April 16 2014 2:04 PM EDT2014-04-16 18:04:35 GMT
    A whale that was found dead earlier this week in New York harbor has been transported to the Caven Point Marine Terminal in Jersey City.
    A whale that was found dead earlier this week in New York harbor has been transported to the Caven Point Marine Terminal in Jersey City.   The United States Army Corps of Engineers successfully extracted the 60 ton giant from the water around on Wednesday. 
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 | Terms of Service | Ad Choices