Rock Plaza Lofts
Deal Overview: Monge Capital played a critical role in the transformational redevelopment of approximately 110,000 SF of dilapidated buildings in downtown Newark adjacent to the Prudential Center into a vibrant Live, Work, Play and Create mixed use project headlined by Dinosaur BBQ, Rita’s Ice, an Art Gallery and over 80 mixed income housing units.
Project Cost: $40M
Deal Facts: Over 150 construction and 100 permanent jobs created.
- Services Provided: Capital and real estate advisory services including underwriting, negotiating, structuring and closing $40 million of private and public financing consisting of Federal New Market Tax Credits, Historic Tax Credits, bank financing and a NJ Economic Redevelopment Growth Grant.