KS Group And Jeff Blau Acquire Divine Riviera Hotel In Newark For $8.5M

The Divine Riviera Hotel, located at 169 Clinton Ave in Newark, has been sold for $8.5 million. The historic hotel, which played a significant role in the desegregation of the hotel system in the US, was purchased by a joint venture led by KS Group, Jeff Blau, and Pride Investment Group. The 101-year-old building boasts 220 rooms spread across eight stories. It is a well-known landmark that has changed ownership several times over the years. The sale of the Divine Riviera Hotel marks an important milestone for the property, as it has remained under the same ownership for the past 17 years.

Summary of transaction details

• Property Type: Hotel
• Sale Price: $8,500,000
• Address: 169 Clinton Ave - Divine Riviera Hotel
• Market: Newark
• Asset Type: Hotel
• Buyer: KS Group - Daniel Spiegel & Yehuda Kotkes; Jeff Blau ; Pride Investment Group
• Brokers: Ryan Cerqueira & John Marzano - Logistics Real Estate Services

The specific plans for the Divine Riviera Hotel under the new ownership remain undisclosed. However, the transaction has garnered attention due to the historical significance of the building and its involvement in the desegregation movement. With its prime location in Newark and its rich history, the Divine Riviera Hotel is poised to continue its legacy as a landmark property.