SOLDHotel
Matthew Sigman Acquires Hotel In Point Pleasant Beach For $7 Million From Ron Mahon
1008 Ocean Avenue
$7,000,000
$360/SF
Building Size
19,440 SF
Asset Type
Hotel
Closing
May 10, 2026
AI
The property involved in this transaction is a hotel located at 1008 Ocean Avenue in Point Pleasant Beach. The property was sold for $7,000,000. It features 47 keys, a total square footage of 19,440, and a price per square foot of $360. The price per key is $148,936.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $7,000,000
- Buyer: Matthew Sigman
- Seller: Ron Mahon
- Buyer’s Representative: Matthew Sigman - Sigman Real Estate Partners
- Keys: 47
- Price per Key: $148,936
- Square Footage: 19,440
- Price per Square Foot: $360
This transaction marks a collaboration between a long-time hotel operator and a growing hospitality group. The acquiring group is actively seeking additional value-add opportunities in the hospitality sector. Interested parties can contact Matthew Sigman with potential hospitality deals.
Players
Point Pleasant Beach Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93