53 Bruen St - Ironbound Development Opportunity - Newark
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53 Bruen St - Ironbound Development Opportunity - Newark
0.18 Acres of Commercial Land Offered at $4,000,000 in Newark, NJ 07105
Executive Summary
1. Prime Location
o One block from Newark Penn Station: A major transit hub offering easy access to NYC in 20 minutes.
o High foot traffic area ideal for residential and retail tenants.
o Growing Newark market with increasing demand for mixed-use developments.
2. Strong Financials
o Projected market value after development: $20,000,000.
o Annual Net Operating Income (NOI): $1,134,119 post-development.
o Stable and diversified income streams: Residential and retail.
3. Permits Ready to Go
o Fully approved permits for 8 eight-story buildings, with 49 one-bedroom units, 7 two-bedroom units, and 2 retail spaces.
o Total development area: 47,456 SF.
4. Attractive Investment Opportunity
o 50% equity offered for a $4,000,000 investment.
o Significant upside: Doubling asset value post-completion.
5. Scalable and Sustainable Model
o Retail spaces cater to local needs, boosting tenant retention and foot traffic.
o Low-income tenant allocation aligns with community development incentives and potential tax benefits.
Market Trends and Demand:
• Newark is experiencing rapid growth with strong demand for transit-oriented development (TOD).
• The project location’s proximity to NYC attracts commuters looking for affordable, high-quality housing.
• Retail spaces benefit from a dense urban population and consistent local demand.
Closing Arguments:
• This is a turnkey opportunity with minimal upfront hurdles (permits ready).
• The partnership offers substantial long-term gains through a strategic location, robust income streams, and strong property appreciation.
• A chance to invest in a development project that combines urban living appeal with community-focused retail spaces.
o One block from Newark Penn Station: A major transit hub offering easy access to NYC in 20 minutes.
o High foot traffic area ideal for residential and retail tenants.
o Growing Newark market with increasing demand for mixed-use developments.
2. Strong Financials
o Projected market value after development: $20,000,000.
o Annual Net Operating Income (NOI): $1,134,119 post-development.
o Stable and diversified income streams: Residential and retail.
3. Permits Ready to Go
o Fully approved permits for 8 eight-story buildings, with 49 one-bedroom units, 7 two-bedroom units, and 2 retail spaces.
o Total development area: 47,456 SF.
4. Attractive Investment Opportunity
o 50% equity offered for a $4,000,000 investment.
o Significant upside: Doubling asset value post-completion.
5. Scalable and Sustainable Model
o Retail spaces cater to local needs, boosting tenant retention and foot traffic.
o Low-income tenant allocation aligns with community development incentives and potential tax benefits.
Market Trends and Demand:
• Newark is experiencing rapid growth with strong demand for transit-oriented development (TOD).
• The project location’s proximity to NYC attracts commuters looking for affordable, high-quality housing.
• Retail spaces benefit from a dense urban population and consistent local demand.
Closing Arguments:
• This is a turnkey opportunity with minimal upfront hurdles (permits ready).
• The partnership offers substantial long-term gains through a strategic location, robust income streams, and strong property appreciation.
• A chance to invest in a development project that combines urban living appeal with community-focused retail spaces.
Property Facts
| Price | $4,000,000 | Property Type | Land |
| Sale Type | Investment | Property Subtype | Commercial |
| Sale Conditions | Build to Suit | Total Lot Size | 0.18 AC |
| No. Lots | 1 |
| Price | $4,000,000 |
| Sale Type | Investment |
| Sale Conditions | Build to Suit |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Total Lot Size | 0.18 AC |
1 Lot Available
Lot
| Price | $4,000,000 | Lot Size | 0.18 AC |
| Price Per AC | $22,222,222 |
| Price | $4,000,000 |
| Price Per AC | $22,222,222 |
| Lot Size | 0.18 AC |
53 Bruen LLC is offering a unique joint venture opportunity to partner on a prime real estate development project at 53-57 Bruen Street, Newark, NJ. Situated just one block from Newark Penn Station and 20 minutes to New York City.
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53 Bruen St - Ironbound Development Opportunity - Newark
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