In September 2007, it was announced that the Metropolitan Hotel had deteriorated to a point in which restoration or rehabilitation was no longer a possibility.

The main structure was a Spanish Revival style built in a rectangle, with a four-story hip roof, central pavilion, two-story porticos with fluted Doric columns, and balustrade and enclosed porches.

The metal marquee was a later addition, and there was a newer motel wing on the east side of the property.

Longtime owners Martin and Sylvia Weinblatt received $2.25 million for their hotel when they sold it in 1987 to Jersey City developers Karim Ahmed Elsaid and Gomaa Elsaid, who filed for bankruptcy protection the next year.

309 Corp had planned to open the 38-room hotel annex to people who needed housing in Asbury Park while they sought financing, but the city turned down their request because of changed zoning laws.