Hotels

The proposed expansion would bring the total VLTs in operation to approximately 2,200 and add more than 10,000 square feet of gaming floor space.

"New Jersey is extremely vulnerable to the impacts of sea-level rise and global warming, and today's Executive Order outlines a bold and comprehensive set of actions to ensure that our communities and infrastructure are more resilient against future storms," Gov. Murphy said.

Newly constructed multifamily and hotel assets in Brooklyn has drawn a flock of investors desiring long term upside for the free-market units,

Lightstone is bullish on affordable hotel investments, viewing the asset type as not only lucrative but recession-proof in the case of a market slow down.

Average daily room rates for Long Island properties will remain steady at 1.5 to 2 percent as a result of slow market growth and little exposure to growth.

JACK Cleveland Casino opened in May 2012 in the historic Higbee Building in Downtown Cleveland, featuring 96,000 square feet of gaming space.