JACKSONVILLE, Fla. -

The Hyatt Regency Jacksonville Riverfront, one of the most visible hotels in downtown, sitting along the Northbank of the St. Johns River, has been sold.

A New York City-based investment company, Jacksonville Hotel 2014 Purchaser LLC, bought the hotel this week for $53 million.

At one point, the hotel had been in foreclosure for two years.

According to Channel 4 news partner the Financial News and Daily Record, after nobody stepped up to buy the hotel at a foreclosure auction last March, it was turned over to the lender.

At the time of that foreclosure sale, the hotel's general manager said no matter who owned the hotel, it was expected to remain a Hyatt Regency.