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- LoopNet Team
28-34 Jefferson St
Newark, NJ 07105
Trans Oriented Development · Land For Sale
·
0.42 AC
INVESTMENT HIGHLIGHTS
- Development for commuters, Ironbound Residents, and downtown Newark Employees.
- Up to 5 stories of mixed use, residential, commercial and offices.
- Easily accessible to PENN Station.
- Parking requirement for development 1 space per every 3 units
PROPERTY FACTS
| Property Type | Land | Proposed Use | Apartment Units |
| Property Subtype | Commercial | Total Lot Size | 0.42 AC |
| Zoning | MX-2 | ||
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Apartment Units |
| Total Lot Size | 0.42 AC |
| Zoning | MX-2 |
DESCRIPTION
It is located in the Public Access and redevelopment zone, permitting 5 stories of mixed use development, which may include residential, offices, hotel and commercial. Located in the Ironbound section of Newark's East Side, next to the Riverpark Public access entrance and a 3 block walk to Newark's PENN Station, providing immediate access to NY City's mass transit system. A development in this particular location will benefit a variety of potential residents from commuters, the Ironbound community of couples and families, employees and residents from the Downtown Newark area. Even with the various New Development projects Newark has going on, this is one of the most significant development opportunities currently available in the largest City in the State of New Jersey.
PROPERTY TAXES
| Parcel Number | 14-00173-0000-00060 | Improvements Assessment | $11,750,000 |
| Land Assessment | $750,000 | Total Assessment | $12,500,000 |
PROPERTY TAXES
