We are pleased to present this new property available for sale consisting of 1.44 acres of land with potential for residential development. This property is a proposed 250 unit senior living residence in the Lower Clinton Hill area of Newark. The property is situated within Newark's (C-2) Community Commercial and (R-3) Residential Family & Town House, permitting ground-floor commercial with commercial or residential above in buildings up to five stories high. The owner would consider waiting for approvals.
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.
We are pleased to present this property available for sale. The property consists of 26 Acres, most of which is paved, besides uses permitted by the M3 zoning (Industrial District) of the property, mixed-use development, a mixture of retail/commercial/service uses, office/warehouse/self-storage uses has been approved in the past and is possible. The 8.4 square mile borough is comprised of residential, industrial and commercial areas and is the home to approximately 23,000 residents.
This development consists of 2.2 acres of land, which has Final site plans approvals for 124 residential units consisting of 8 Studios, 52 one bedrooms, and 68 two bedrooms.