A group of New York City investors are reportedly prepared to breath new life into a landmark Asbury Park hotel.

The Berkeley Carteret Hotel on Ocean Avenue was built in 1925. Historians say its owners included people like Johnny Cash and Maharishi Mahesh Yogi, who wanted to turn it into a transcendental meditation university. The Berkeley has also had its fair share of celebrity guests, such as Judy Garland and Frank Sinatra.

Historians say Arthur Steinbach helped build the hotel, which was reportedly designed by the architects of Grand Central Station. The city?s manager says he doesn?t have much information on plans for a rebirth of the hotel, but residents say they?re happy to hear a plan is underway.