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The first hotel on the waterfront, a 200-room and the Garden State Development Company, opened in 1998. Lefrak has built a 189-room Courtyard by Marriott, and Mack-Cali, another major developer, has approval to build a Hyatt Regency at the Harborside Financial Center. A 215-room Candlewood Hotel is also under construction. There is a luxury Sheraton Suites at Lincoln Harbor in Weehawken. Goldman Sachs, the investment banking firm, plans its own hotel and office towers on the Colgate site, where earlier this year it purchased properties totaling six acres that were once part of Colgate-Palmolives vast manufacturing center. The three parcels cost a reported $100 million, working out to about $17 million an acre, the highest price ever paid for land in New Jersey.

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