A very reliable source is telling me that the Hoffman Manor (274 West Broadway Long Beach, NY 11561) was just sold for $20 million. The new owners (whoever they may be) plan on change, but it’s unclear whether or not that means an updated senior housing facility, condos or competition for the Allegria in the form of a hotel.
The Allegria Hotel was once King David Manor, also a senior housing facility. Developers have figured out that waterfront property is pretty rare in this neck of the
woods ocean, so redevelopment of that orange and yellow building was a no-brainer. Common sense tells me that condos and hotels are worth far more than senior housing. It’s just a matter of time before the Hoffmann goes down the same path.
FYI: My source is not the same person who recently tipped me off on the alleged Jackson Hotel being sold for $10 million. Pretty interesting nonetheless, as the Long Beach skyline keeps evolving. More and more people are learning about our little city by the sea oasis, so demand for updated housing and hotel space will be needed. You can tell just by looking at the amount of surfers there are in the water this year. Has that number tripled since last summer or what? How many of these new visitors are starting to consider Long Beach their next possible home?