810 Broad Street

Multifamily Opportunity

• 99 Residential + 1 Commercial

• Converted from Hotel in 2023

• Newly Renovated Market Rate Units

• 7.17% Year 1 Cap Rate

Building Highlights

• 11 Story Brick Building

• 92 Furnished Micro Studios and 7 Furnished One-Bedrooms

• Leased Restaurant with Rooftop Bar

• Potential for Additional 11 Units to Be Added

• 30 Year Tax PILOT starting at 10%

• Laundry on Floor 3 – 11

• Amenities – Gym, Spa rooms, theater room, conference rooms

• Water Heaters Recently Replaced

• Split System HVAC

• Tenants Pay for Heat, Hot Water and Electricity

• Landlord Pays for Water/Sewer & Common Area Electric

• Historical Commercial Building in Heart of Downtown Newark

Convenient Transportation

• The building is approximately a 3-minute walk to the Market St at Broad St bus stop which is a 5-minute bus to Newark Penn Station. Which gives you an approximate 25-minute train into Midtown Manhattan.