Ogdensburg hotel sold to New Jersey developer

OGDENSBURG — The former Riverfront Resort Hotel on West River Road has been sold to a New Jersey company.

Shoreline Condominiums LLC of Newton, N.J., bought the 76-room hotel on the Oswegatchie River for $500,000 from Newtek Small Business Finance Inc. of New York City, according to the St. Lawrence County clerk's office.

Newtek purchased the hotel for $400,000 in December in a foreclosure action. The hotel, which has a 45-slip marina, indoor pool, Jacuzzi suites, lounge and large banquet hall, has been closed since December.

The hotel, once the Red Carpet Inn & Suites, owed more than $1 million on its mortgage and has several judgments against it, Newtek officials said in December. The hotel has had several owners and financial problems since opening in 1992.