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494 Broad & Cablevision Expansion

494 Broad & Cablevision Expansion

Type

Commercial/Office

Location

Newark, NJ

Est. Project Cost

$78.0 million

Size

285,000 SF & 675 Space Structure Garage

Public Financing

New Markets Tax Credit, State and City

Sponsor

Fidelco Reality Group

Private Financing

Bank Financing

Closing Date

2013

Transit HUB Public Private Development

Major expansion of existing office building including adjacent ground up development for Cablevision who received an NJ EDA Tax Credit and the Sponsor received NMTCs allowing deal feasibility.

Estimated Economic and Social Impact

270 jobs, 570 retained and over 200 construction jobs.

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