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SECAUCUS, NJ – The site is only a few acres, and its previous use was mostly as a parking lot. That lot served the Aratusa, a yacht permanently moored in the Hackensack River. But the yacht, which functioned as a restaurant and supper club, wasn’t so permanently moored after all – it sank several years ago and was eventually sold for scrap. The site has been unused ever since.

But no longer. Extended Stay America, the Fort Lauderdale, FL-based hotel chain, has purchased the three-acre site to build its 14th hotel in the Garden State. The five-story property will have 138 suites.

Stanley Katz, vice president of CB Richard Ellis, Paramus, NJ, represented the seller, D.T. Allen Contracting Co. of Midland Park, NJ. The site, which faces the Meadowlands Sports Complex, was sold for just under $3 million.

Ward Straffin represented Extended Stay America. The hotel, which is already under construction, is scheduled to open next summer.

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