Jitu Lodkia Acquires Hotel From Red Mansion In Colts Neck For $3.05M

The asset involved in this transaction is a hotel located at 260 New Jersey Highway 34 in Colts Neck. The sale price for this property was $3,050,000, which corresponds to a square footage of 13,555 and a price per square foot of $225. The hotel features a total of 30 keys, yielding a price per key of $101,666.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $3,050,000
• Address: 260 New Jersey Highway 34
• Market: Colts Neck
• Square Footage: 13,555
• Price per Square Foot: $225
• Total Keys: 30
• Price per Key: $101,666
• Buyer: Jitu Lodkia
• Seller: Red Mansion
• Brokers: Henry Eisenstein - EXP Realty; Joseph Spinella - KW Commercial; Joseph Domenech - KW Commercial

The deal involved key individuals including buyer Jitu Lodkia and seller Red Mansion. The representation for the transaction was provided by Henry Eisenstein from EXP Realty, while Joseph Spinella and Joseph Domenech from KW Commercial also played crucial roles in facilitating the deal. As noted, Joseph Spinella can be contacted at 732-837-2832 for any commercial real estate assistance.