The current owner is Steven Goldberg, a Manalapan, NJ-based businessman and operator of a group of adult day care centers, who bought the property and its liquor license in 2006 for $2.5 million. That acquisition came via a bankruptcy sale after previous owner Truong Dinh Tran of New York defaulted on his hotel holdings.
Tran himself had acquired the property and its liquor license a year earlier, outbidding 15 others and picking the asset up for nearly $4.4 million. Originally built as a stagecoach stop in 1824 and expanded in 1928, the American Hotel was shut down in early 2004 for fire-code violations.
The current redevelopment team assembled by Goldberg includes architect Michael Testa, also of Manalapan, and the locally based T&K Contractors, general contractors for the work.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.