Commercial Real Estate for Sale at 166 Emmet in Newark City, NJ for $11,500,000

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166 Emmet | Newark City

$11,500,000 | 35 Baths (35 Half) | 15,869 Sq. Ft.

PACKAGE DEAL: Brand New Building is being sold with 529-531 Mulberry St., Newark NJ 07114 for the price of $14,000,000 for total 35 units. Introducing a rare investment opportunity in the desirable Ironbound Section of Newark were the going rates for apartments are $2600-$3200 monthly. This beautiful building is being finished with 4 floors of apartments consisting of 19 custom designed units, (14 two-bedrm 2 bath units; 1 two bedrm 2 bath unit w/ private terrace & 4 one-bedrm units). Building has elevator, laundry facilities on each level, terrace with view to NYC, public bathroom,14 Garage enclosed parking spaces that provide additional income. Each unit includes fire rated entry doors with advanced technological door handles, prewired Fiber Optics, custom built kitchens w/ stainless steel appliances (Microwave, Refrigerator, dishwasher,& gas stove), quartz countertops, island/peninsula, large sound proof windows, intercom system, Central Air & Forced Hot Air and tons of closet space. There are apartments facing NYC with the view of the NYC SkyLine, & terrace apt is facing NYC. Located near PATH, Train & Bus Station, Newark Airport, major highways, & Universities all within the same city. All financials please see attached documents. GSMLS 3906266

Directions to property: McCarter Highway turn onto Emmet St.

MLS Listing ID: 
GSMLS 3906266
Listing Category: 
Purchase
Listing Status
Status of the Listing.
Listing Status: 
Active
Listing Status (Local): 
Active
Listing Pricing
Pricing information for this listing.
List Price: 
$11,500,000
Basic Property Information
Fields containing basic information about the property.
Property Type: 
Commercial
Primary Market Area: 
Newark City
Address: 
166 Emmet, Newark City, NJ 07114, U.S.A.
County: 
Essex
Latitude: 
40.7192635
Longitude: 
-74.1764706
Directions: 
McCarter Highway turn onto Emmet St.
Public Remarks: 
PACKAGE DEAL: Brand New Building is being sold with 529-531 Mulberry St., Newark NJ 07114 for the price of $14,000,000 for total 35 units. Introducing a rare investment opportunity in the desirable Ironbound Section of Newark were the going rates for apartments are $2600-$3200 monthly. This beautiful building is being finished with 4 floors of apartments consisting of 19 custom designed units, (14 two-bedrm 2 bath units; 1 two bedrm 2 bath unit w/ private terrace & 4 one-bedrm units). Building has elevator, laundry facilities on each level, terrace with view to NYC, public bathroom,14 Garage enclosed parking spaces that provide additional income. Each unit includes fire rated entry doors with advanced technological door handles, prewired Fiber Optics, custom built kitchens w/ stainless steel appliances (Microwave, Refrigerator, dishwasher,& gas stove), quartz countertops, island/peninsula, large sound proof windows, intercom system, Central Air & Forced Hot Air and tons of closet space. There are apartments facing NYC with the view of the NYC SkyLine, & terrace apt is facing NYC. Located near PATH, Train & Bus Station, Newark Airport, major highways, & Universities all within the same city. All financials please see attached documents.
Building Details
Details about the building on a property.
Stories: 
5
Year Built: 
2024
Living Area: 
15,869
Construction
Construction Materials: 
Brick/Block
Roof: 
Flat
Exterior: 
Brick/Block
Energy Information: 
Electric, Gas-Natural
Room Details
Details about the rooms in the building.
Total Bedrooms: 
0
Total Bathrooms: 
35
Total Half-Bathrooms: 
35
Utilities
Information about utilities available on the property.
Heating System: 
4+ Units
Heating System Fuel: 
Gas-Natural
Cooling System: 
4+ Units, Central Air
Water Source: 
Public Water
Sewer: 
Public Sewer
Lot/Land Details
Details about the lots and land features included on the property.
Acres: 
0.17
Lot Size (Dimensions): 
75X100
Waterfront: 
0
Lot Features
Driveway: 
Assigned, See Remarks
Parking Type: 
Assigned, See Remarks
Total Parking Spaces: 
14
Public Record
Parcel Number: 
1614-01181-0000-00051-0000-
Lot Number: 
51
Annual Tax: 
$11,068.00
Property Zoning: 
Apartments
Contract Details
Details about the listing contract.
Possession: 
ASAP
Listing Participants
Participants (agents, offices, etc.) in the transaction.
Listing Office Name: 
RE/MAX LIFETIME REALTORS

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