For Sale: Class A Office Tower in Newark, NY Opportunity Zone | Bidding Opens: April 8th

550 Broad Street Newark, NJ 07102

550 Broad Street, Newark, NJ, 07102
550 Broad Street, Newark, NJ, 07102
FOR SALE Auction Property
Property Type:
Multi Tenant Office
Amount:
$12,000,000
Last Verified:
Apr 26, 2019

This April, 550 Broad Street, a Trophy Office Building located in the Opportunity Zone of Newark, NJ will be auctioned through the online commercial real estate platform, RealINSIGHT Marketplace.

The offering, presented by Newmark Knight Frank and RealINSIGHT Marketplace, represents a compelling opportunity to acquire a best-in-class property with a substantial value-add component in an Opportunity Zone.
 

550 Broad Street, previously recognized as BOMA building of the year, features an attractive timeless exterior, expansive and customizable space in the interior, on-site ATM, newly renovated gym and café, 24-hour security, and spectacular unobstructed views of the Manhattan skyline and Downtown Newark. The building is also equipped with vertically wired fiber optic cables for the latest voice, data, and video technology.

 

About the Property:

  • 18 Stories, 290,000 RSF
  • Built in 1966, renovated in 2006 & 2016
  • Smart Building Technology

 

 

The current stable list of tenants within 550 Broad Street allows the potential investor immediate and stable in-place cash flow backed by a diverse tenant roster along with predictable and manageable roll over the next five (5) years.

 

 

About the Location:

  • Strategically Located
  • Tremendous Access
  • Opportunity Zone

 

 

With its location within the area’s Opportunity Zone, an acquisition of the Property could provide a powerful vehicle to defer capital gains, receive tax breaks and increase after-tax IRR.

 

550 Broad Street is situated in a highly sought-after area and within walking distance of the New Jersey Performing Arts Center, The Broad Street Train Station, Newark Bears Stadium, Newark Penn Station and Path Trains, abundance of local amenities and less than 4 miles from Newark Liberty International Airport. The site rests directly off Route 21 McCarter Highway with access to NJ Turnpike (I-95), routes 280, 78 and 22.

 

To learn more, visit: http://bit.ly/2H9fH5R


Additional URLs

Map of 550 Broad Street, Newark, NJ, 07102

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.