Trenton’s only hotel up for auction

Two qualified bidders on Monday will vie to become the owner of the 197-room Lafayette Yard Hotel in downtown Trenton. 

Bidding for Edison Broadcasting and VBCE will start at $5.7 million.

The city-owned hotel and attached garage cost $60 million when it opened as the Trenton Marriott in 2002.

Marriott pulled out in July and a management company couldn’t attract a new operator. The nonprofit board that oversees assets filed for Chapter 11 bankruptcy protection.

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The Times of Trenton reports the city will be responsible for paying back the portion of the $14 million in debt that’s not covered by the sale price.

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