The $5.6M sale is the largest commercial real estate transaction in recent history for the borough.
NEW HOPE, Pa. -- A buyer who refurbished the Ryland Inn in Readington a few years ago is now taking on renovation and expansion of the Logan Inn.
Landmark Hospitality, headquartered in Jersey City, bought the historic inn for $5.6 million, Addison Wolfe Real Estate announced Monday. That's the largest commercial real estate transaction in recent history in New Hope, said Realtor Caryn Black, who represented Landmark Hospitality.
"This deal has been in the works for some time, and promises to remake the face of downtown New Hope while remaining true to the building's historic roots and New Hope's distinctive character," said Black.
"Landmark Hospitality has an impressive track record of restoring historic commercial properties and turning them into remarkable destinations that complement their environment. The same will be true of Logan Inn."
New owners bring new menu to Logan Inn
The new owners have already introduced a new menu that's a bit more casual.
Established in 1722 as a tavern, the Logan Inn at 10 West Ferry St. is Bucks County's oldest and only in-town, continuously-operational inn on the National Register of Historic Places.
Frank Cretella, principal of Landmark Hospitality, intends to work closely with New Hope's Historical Architectural Review Board and Doylestown architect Ralph C. Fey. Landmark's plans call for constructing two additional permanent structures that will add 17 new guest rooms, and a pebbled court yard.
Along with the Logan Inn and the Ryland Inn, Landmark operates Liberty House Restaurant in Jersey City, Stone House at Sterling Ridge in Warren, and Celebrate at Snug Harbor in Staten Island, N.Y. The company also recently unveiled its other New Hope property, the fully renovated Hotel Du Village on River Road.
Major expansion planned for Ryland Inn
"As we did with the Ryland Inn in Whitehouse Station a few years ago, our intention is to return the Logan Inn to its true landmark status," said Cretella.
"Logan Inn has been a centerpiece for New Hope since the dawn of this town, and we intend to renew its promise, restore its history and remake it as a showplace of fine dining and lodging for the hundreds of thousands of people who visit the area annually."
Sallie Graziano may be reached at sgraziano@njadvancemedia.com. Follow her on Twitter @SallieGraziano. Find The Hunterdon County Democrat on Facebook.