Built in 1925 and known for most of its life as the Berkeley Carteret Hotel, the property was acquired in February by the New York City-based Chetrit Group for $16 million. The seller, Daniel Ahn, a Queens, NY-based entrepreneur, had acquired it in 1998 for $5.1 million and listed it a year ago with an asking price of $12 million. It was subsequently bid up to the final sale price of $16 million, and Chetrit quickly shuttered the property and launched a major renovation.
To date, that renovation has entailed all 250 of the hotel's guest rooms, according to the spokesman, as well as most of the hotel's common areas. The hotel's restaurant "will re-open soon," says the spokesman, noting that 1401 Ocean Restaurant LLC, an affiliate of the Chetrit Group, has applied for a liquor license.
And as part of the evolution of the property, Chetrit has hired the New York City-based Amsterdam Hospitality Group, which operates several properties in New York, to manage the Berkeley Hotel.
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