Listing Agents
Sean Banilivy
T | 516.456.7525
[email protected]
Brent Clemens
T | 312.402.2959
[email protected]
Detailed Information
Location
Property Highlights
- Fee-simple interest in the institutional-quality and receiver-managed 358-room Sheraton Hotel Lincoln Harbor NJ offered for sale through Receivership
- Full-service Marriott property located within the top MSA in the United States with ~ $170 of in-place RevPAR
- Substantial operational upside in purchasing the hotel through receivership, completing the Marriott change of ownership PIP, and repositioning the asset amongst the competitive set
- Very high barrier to entry waterfront location on the Hudson River overlooking midtown Manhattan and offered at a fraction of replacement cost
- Property is situated within a prominent mixed-use development in Weehawken featuring 1.2MM SF of office space and a 570-unit luxury residential building
- Readily accessible location with convenient access to the Lincoln Tunnel and proximity to the New York Waterway Ferry and Port Imperial Station, providing direct access to Midtown Manhattan
- Popular nearby leisure attractions include Liberty State Park, Lincoln Harbor Yacht Club, Weehawken Waterfront Park, Weehawken Recreation Pier, and Boulevard East
- The area is home to several institutions of higher education including Stevens Institute of Technology, Saint Peter’s University, Hudson Community College, and New Jersey City University
- Proximate to the region’s major demand drivers including JPMorgan Chase & Co, UBS, Hanover Direct, Allied Universal, Amazon Flex, and Certara
- Easily accessible to nearby healthcare facilities including the 781-bed Hackensack University Medical Center, 316-bed Jersey City Medical Center, and the 333-bed Hoboken University Medical Center
- New York City Tourism and Convention reported that total visitation for 2023 eclipsed 62.2 million visitors, a 9.6% increase over 2022, largely fueled by a robust 23% surge in international travel compared to the previous year
- Property is conveniently located to the tri-state area’s three major airports: LaGuardia Airport, the closest, Newark Liberty International Airport, and John F. Kennedy International Airport. Together, these airports served a record 144 million passengers in 2023, their busiest year, up 3% from 2019
- New York City forecasts that 2025 will welcome over 68 million visitors, surpassing 2019 records by nearly 2 million, while also serving as a prestigious venue for future global sports events such as the FIFA World Cup 2026