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9-25 Alling St
Newark, NJ 07102
.95 Acres Next to Penn Station · Land For Sale
·
0.95 AC
INVESTMENT HIGHLIGHTS
- .95 acres
- Max building height
- Directly next to Penn Station
- Full entitlement zone
- Will wait on approvals.
EXECUTIVE SUMMARY
A prime 0.95-acre parcel in the heart of Newark’s dynamic downtown redevelopment zone presents an unparalleled opportunity for a high-rise residential development. The site supports a 40-story, ±400-unit mixed-use project, strategically positioned just steps from Penn Station—making it the closest development of its kind to this major transit hub.
With significant financial incentives, including the Aspire Grant covering 50% of total project costs, this investment opportunity is designed for exceptional returns. Newark’s ongoing revitalization, combined with the site’s unmatched accessibility and high demand for modern urban living, makes this a premier development prospect in one of the region’s fastest-growing markets.
With significant financial incentives, including the Aspire Grant covering 50% of total project costs, this investment opportunity is designed for exceptional returns. Newark’s ongoing revitalization, combined with the site’s unmatched accessibility and high demand for modern urban living, makes this a premier development prospect in one of the region’s fastest-growing markets.
PROPERTY FACTS
| Sale Type | Investment | Property Subtype | Residential |
| Sale Condition | Redevelopment Project | Proposed Use | Hold For Development |
| No. Lots | 1 | Total Lot Size | 0.95 AC |
| Property Type | Land | Opportunity Zone |
Yes
|
| Zoning | O - Downtown Redevelopment | ||
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | Hold For Development |
| Total Lot Size | 0.95 AC |
| Opportunity Zone |
Yes |
| Zoning | O - Downtown Redevelopment |
1 LOT AVAILABLE
Lot
| Lot Size | 0.95 AC |
| Lot Size | 0.95 AC |
0.95-acre site. Directly across the street from Newark's Penn Station. The lot encompasses an entire lot, bordering 4 corners.
DESCRIPTION
The property currently features a 70,000-square-foot occupied office building, providing the buyer with flexibility during the approval process. Buyers can either collect rental income while securing entitlements or opt to close after obtaining full approvals. Ideally positioned between the newly built Iconiq 777 building and Penn Station, the site boasts an exceptional location in the heart of Newark’s rapidly evolving downtown.
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