Property Description

GRID Real Estate, LLC. (“GRID”), has been exclusively engaged by Mybar Realty (the “Owner”), to 514 Mulberry Street, Newark, NJ, 07114, (the “Property”. The property is 32 lot contiguous assemblage of approximately 2.68 acres in Ironbound, one of Newark’s cornerstone neighborhoods. The property is presently vacant land and ready for development. Newark is the oldest and largest city in New Jersey with more than 290,000 residents. Newark is considered the “de facto” capital of the state of New Jersey when taking into account its business, legal and cultural impact on the region.

Investment Highlights

Rare 2.68 assemblage in amazing neighborhood!

Excellent access!

Mixed-Use, Residential, Commercial and Industrial Zoning!

Newark is one of the fastest growing cities in the Northeast.

Address Map
Street Number:
514
Street:
Mulberry Street
Postal Code:
07114

514 Mulberry Street, Newark, NJ

514 Mulberry Street, United States, New Jersey

$5,500,000
Basic Details
Property Type :
Land
Listing Type :
Sold
Asking Price :
$5,500,000
Highlights :
UNSURPASSED LOCATION
Newark is strategically located within 12 miles of midtown Manhattan, approximately three miles from Newark Liberty International Airport, within three miles of the Eastern Seaboard’s most significant container ports and at the crossroads of an extensive highway network. These factors combined with Newark’s ongoing transition into a 18 hour city, makes Newark one of the most emerging cities in the country for
investment.
 
NEWARK’S RESURGENCE
Newark is one of the fastest growing cities in the Northeast. Previously viewed as a 9am to 5pm neighborhood, Newark’s CBD is rapidly transitioning into a 18 hour city. Stunning new residential buildings, art galleries, boutiques, clubs, bars, cafes and restaurants are making Newark a vibrant place live, work and play! All of Newark’s top cultural attractions and noteworthy developments are a short distance to the property.
 
COMPELLING DEMOGRAPHICS
Newark is one of New Jersey’s most densely populated cities with more than 290,000 people within 23 square miles. The city’s population has experienced continual growth since the 2000 census reported 273,000 residents—a testament to Newark’s resurgence and the population’s migration back to the region’s urban areas. Demographic analysis forecasts this growth will continue with the population rising by an additional 6.5% by 2021. There are more than 52,000 people within a one-mile radius of the Property.
Approximately 30% of this population is 25-39 years old.
 
CORPORATE CITY
As the employment hub of New Jersey, the region spanning from Newark to the Hudson Waterfront is home to many of the nation’s largest corporations and top firms. The mass transportation system serving these areas has heavily contributed to the growth of all aspects of the local economy, including logistics and the office market. With an inventory base of 40 million square feet, this region houses some of the largest financial firms, which account for more than one-half of occupied space. Newark is also home to New Jersey’s largest court system including federal, district and city courts.
 
COLLEGE TOWN
Newark is one of the largest “college towns” in the United States. The City is home to the largest concentration of higher education institutions in New Jersey, forming a community of nearly 60,000 students and faculty. Newark’s colleges and universities include Rutgers University, New Jersey Institute of Technology, Seton Hall Law School and Rutgers Biomedical & Health Services, formerly UMDNJ, which was the largest teaching hospital.
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