Crowne Plaza Saddle Brook by IHG
Hospitality | 148 Keys
Marketing description
Presented by Mumford Company (TX #585057) & Gaurang GR Patel (TX# 769972) In Conjunction with Mark H Von Dwingelo (NJ #2192203).
This acquisition opportunity allows investors to acquire a full-service property in the New York City metro and capitalize on market growth. Located at 50 Kenny Place, Crowne Plaza Saddle Brook presents a 12-story, 148-room, interior-corridor hotel just off the Interstate 80 and Garden State Parkway interchange. Built in 1971 and renovated in 2016, the hotel offers convenient on-site surface parking as it is situated on approximately ±3.06 acres with ±44 years remaining on a ground lease. Hotel amenities include ample free on-site parking, an equipped fitness center, an outdoor saline pool, a laundry room, two ballrooms, and a presidential boardroom. The building features Sky Restaurant and Lounge, renowned for being the highest restaurant in New Jersey, with eclectic cuisine and a memorable and expansive 255-degree view of the area’s skyline, including New York City.
Investment highlights
Crowne Plaza Saddle Brook is positioned with ideal proximity to prominent New Jersey and New York attractions. Noteworthy attractions include MetLife Stadium, American Dream, Yankee Stadium, Prudential Center, Paramus Park Mall, Fairleigh Dickinson University, and many more. 50 Kenny Place benefits from its positioning about 18 miles from major transportation providers, including the popular Newark Liberty International Airport (EWR) and Penn Station in Midtown Manhattan in New York City. Strategically positioned with easy access to significant commuter routes, the hotel opens up accessibility to several leisure and corporate demand generators.
This offering presents a prime opportunity to acquire a modernized, well-established hospitality asset at a discount to replacement costs. A new owner can capitalize on additional revenue potential by operating food and beverage services through the hotel’s infrastructure.
Property tours are available by appointment only. Please contact the broker to schedule.
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