North Bergen, NJ — Sabena Arora of Acadia Lodging Brokers and Advisors is pleased to announce the $24 million, all - cash sale of the Meadowlands View Hotel.
The Meadowlands View Hotel is a rare, unencumbered hotel asset in a high barrier to entry market. This hotel is known for its proximity to New York City and its stunning views of the Meadowlands and Manhattan.
The 12-story, 250-room hotel had been closed since COVID and was in need of renovations and repositioning. The sale transaction involved a complex dissolution of a partnership, subject to approvals of the New Jersey Bankruptcy Court and the New York Supreme Court.
Acadia successfully drove a highly competitive bidding process that yielded multiple offers from a variety of private and institutional investors. The asset was ultimately acquired by a hotel investor who plans to unlock significant value from a comprehensive redevelopment.