Hotels for Sale

DoubleTree by Hilton Mahwah, NJ

Address:
Mahwah, New Jersey
Description:
  • Fee simple interest in the non-union, 139-room DoubleTree Mahwah, NJ offered at a fraction of replacement cost
  • Available unencumbered of debt and management with ability to retain the DoubleTree flag via a long-term relicense agreement through Hilton
  • Unique opportunity to acquire a core-branded asset, situated on over five acres, in the high barrier to entry market of Bergen County - part of the broader New York City metropolitan area
  • Moderate change of ownership PIP anticipated with approximately $4.7MM ($34k/key) of improvements completed by seller in recent years
  • Strong operational upside with asset still stabilizing following a significant renovation and complete re-concept of the full-service restaurant Tavern 17 – offering both indoor and outdoor seating
  • One of only two full-service hotels within Mahwah – presenting a unique opportunity for a prospective owner to further reposition the asset amongst group and corporate and better leverage the recent property improvements and unique positioning of the property within the market
  • Ideally situated near the convergence of Interstate 287 and Route 17, a location passed by an upwards of 40,000 vehicles daily
  • Readily accessible to all regional demand including UPS World Technology (HQ), Jaguar Land Rover North America (HQ), the New York Stock Exchange data center, Bergen Community College & Performing Arts Center, MetLife Stadium, West Point United States Military Academy, and the recently opened 91-acre, $5.0 billion mixed-use American Dream Meadowlands development
  • Bergen County is home to eight Fortune 500 companies, 32.3 million SF of office space, 90.3 million SF of industrial/flex space, and 9,000 acres of parks and other recreational amenities
  • High-end housing sales in New Jersey have ballooned 27% during the COVID-19 pandemic as New York City residential relocation intensifies with surrounding markets including Mahwah & broader Bergen County uniquely well positioned to capitalize on the current and prospective growth

Listing Agents

Adam Montufar
T | 515.446.4181
Email

Sean Banilivy
T | 516.456.7525
Email

Bennett Webster
T | 312.239.0560
Email

Brent Clemens
T | 312.402.2959
Email

Categories List:   

Send message to listing owner