36 Columbia Street, Newark, NJ

Asking: $ 16,000,000

Description

Marketing Description

The property located at 36­42 Columbia St is currently a 1 story warehouse on a 33,572 sf lot. It is part of the Downtown Core Redevelopment Plan. The plan allows for a building of 30 stories with 24 stories of residential space. The plan allows for a mixed use building with commercial space and over 400 apartments. This is also 100% located in an Opportunity Zone, which allows for a massive tax break

Investment Highlights

  • Lot size: 33,572 sf
  • Lot dimensions: 199′ x 200′ Irregular (Approximate)
  • Zoning: Downtown Core Redevelopment Plan
  • Number of permitted residential units: 402 maximum units
  • Maximum allowed height: 30 stories¬≠ 6 story base with commercial and parking, 24 stories of residential use

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