SOLD Drifting Sands Oceanfront Motel New Jersey
LUX Realty is pleased to announce it has exclusively arranged the sale of the 100-room Drifting Sands Oceanfront Motel in Ship Bottom, Long Beach Island, New Jersey. The property sold for $12,500,000 on June 15th, 2017.
The buyer, Blue Water Development Corporation of Ocean City, MD chose this property as its latest addition to its portfolio of primarily waterfront lodging and hospitality properties along the East Coast. The hotel is now managed by Blue Water’s preferred hotel management partner, Real Hospitality Group.
The seller, Shamrock Enterprises of LBI, LLC had acquired the hotel in 2000 and enhanced the property considerably, including expanding the hotel in 2005.
Call Daren Hebold, CCIM today for a confidential discussion about your lodging property or acquisition search.