A hotel located at 2373 US-9 in Toms River, NJ has been sold for a price of $22,350,000. The property spans 108,000 square feet, resulting in a price per square foot of $207. The seller of the hotel was Carey Tajfel. The transaction was facilitated by Steven Vegh from Westwood Realty Associates. It is worth noting that the current hotel is set to be converted into an office suites building.

Summary of transation details

• Property Type: Hotel
• Transaction Amount: $22,350,000
• Square Footage: 108,000
• Price per Square Foot: $207
• Address: 2373 US-9, Toms River, NJ
• Market: Toms River, NJ
• Seller: Carey Tajfel
• Broker: Steven Vegh - Westwood Realty Associates

Steven Vegh from Westwood Realty Associates played a crucial role in the transaction as the representing broker. The conversion of the hotel into an office suites building showcases the changing needs of the market and highlights the potential for commercial development in the area.