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156-158 North 1st Street 0.45 Acres of Residential Land Offered at $1,950,000 in Paterson, NJ 07522
Investment Highlights
- Paterson has given an annual tax savings of $150,000 for 20-30 years through the redevelopment tax abatement the city offers for this site.
- Garage with 38 spaces
- Amenity space
- Elevator and laundry room
- 38 tandem parking spaces
- Bike storage
Executive Summary
The site has plans for a four-story building with 44 residential units and 1,331 SF of commercial space.
Paterson is a historic industrial city in northern New Jersey, located about 20 miles northwest of New York City. Paterson has an economy shaped by its industrial history and its current role as a dense urban center in northern New Jersey near the larger New York City metropolitan area. Paterson’s modern economy is based on a mix of small businesses, retail, food distribution, healthcare, transportation and light manufacturing. Redevelopment efforts aim to attract tourism, housing investment and new businesses. The site is conveniently located near public transportation offering easy access to NYC.
Paterson is a historic industrial city in northern New Jersey, located about 20 miles northwest of New York City. Paterson has an economy shaped by its industrial history and its current role as a dense urban center in northern New Jersey near the larger New York City metropolitan area. Paterson’s modern economy is based on a mix of small businesses, retail, food distribution, healthcare, transportation and light manufacturing. Redevelopment efforts aim to attract tourism, housing investment and new businesses. The site is conveniently located near public transportation offering easy access to NYC.
Property Facts
| Price | $1,950,000 | Property Subtype | Residential |
| Sale Type | Investment | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 0.45 AC |
| Property Type | Land | ||
| Zoning | 1 - Vacant Land | ||
| Price | $1,950,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | |
| Total Lot Size | 0.45 AC |
| Zoning | 1 - Vacant Land |
1 Lot Available
Lot
| Price | $1,950,000 | Lot Size | 0.45 AC |
| Price Per AC | $4,309,373.22 |
| Price | $1,950,000 |
| Price Per AC | $4,309,373.22 |
| Lot Size | 0.45 AC |
The site consists of five lots: Lots 7, 8, 8.01, 9 & 11.
1 1
Very walkable
80/100
Fairly drivable
50/100
Some public transit
40/100
Fairly bikeable
50/100
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Contact the Sale Advisor
156-158 North 1st Street