 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.The Metropolitan is currently owned by a group of Morristown investors called 309 Corp., who purchased the property for $150,000 in 1993 (from a group that acquired it from a bank for $10,150 earlier that 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.