Hotel owner-operator Ceres Enterprises canceled the project due to the impact of coronavirus on the company s finances, and the building is back on the market, available for $6.5 million.
Brandon Hess, partner and broker with Shai-Hess Commercial Real Estate, confirmed the latest twist in the ongoing saga of the world famous, seven-story, basket-shaped structure on Newark s east end, opened in 1997 by the late Dave Longaberger, founder of the Longaberger Company.
Hess said he has had many conversations with building co-owner Steve Coon, owner of Coon Restoration, about plans for the building, and the difficulty for Ceres Enterprises to fulfill its goal of converting the building into a hotel.