Plans to sell the Kings Inn apparently fell through, and with it, plans to renovate the two-story motel this spring.
Ba
rry Rosner, a Somerset-based CPA who’s listed as principal of the LLC that owns the property, declined to go into detail during a telephone interview but confirmed the planned sale did not go through. Principals of Ratan Rahway appeared before the Planning Board in December with plans to renovate the existing structure and reopen as part of the Howard Johnson’s franchise. [Planning Board minutes, .pdf]
Though he did not offer a timeline, Rosner insisted there is a “long-term commitment” from a new entity renting the property, which is adjacent to the Riverwalk townhomes, with plans to renovate.
The Rahway Tower, LLC purchased the 1.5-acre property at 1360 Route 1 (Block 304, Lots 5-6) in 2004 for about $1.1 million from LTL Hotel Corp, according to PropertyShark.com. Assessed at almost $750,000, the property paid more than $35,000 in property taxes in 2008.
Junkies across Union and Middlesex Counties are applauding this 🙂
Enjoy the view from your half-million-dollar townhouses, Riverwalk.
Mark DiIonnio wrote a Memorial Day piece featuring Rahway for NJ.com and presumably the Star-Ledger (for those among us who are into the printed media thing):http://tiny.cc/D9osVThe city does a good job honoring the war dead – other towns should take note. Sadly each year leaves fewer and fewer who remember what sacrifice means.A good article, but it raises a few questions. How much longer will the city retain its blue collar, workaday identity? Will the city lose something in pursuit of luxury condo towers and high-end dining establishments?