140-148 Roseville Ave, Newark NJ
We are pleased to present this opportunity to purchase a 273 unit rehabilitation project. The property is a complex of interconnected residential towers, two 9 story towers and two 10 story towers totaling 228,861 gross square feet on 1.308 acres. The property was built in the early 1950's as luxury high-rise apartments constructed of concrete, brick and steel, the buildings are completely fireproof with views of Newark's Historical District and Downtown Manhattan.
The property is structurally sound environmentally clean and will be delivered vacant. The property stands within Newark's R-6 High Rise Multifamily Residential Zone permitting up to 20 stories.R-6 Conveniently located just 1.25 miles from Rt 280, 3 miles from Rt 78, 4 miles from I-95, 4.25 miles from Newark Liberty International Airport.
- Construction Costs: $21,000,000 (includes all soft/hard costs)
- Offering: 16,000,000