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Newark Synergy

Newark Synergy

Type

Commercial/Office

Location

Newark, NJ

Est. Project Cost

$2.0 million

Size

4,000 SF/ 11 Parking Spots

Public Financing

N/A

Sponsor

ALS Newark

Private Financing

Opportunity Zone Equity

Closing Date

2018

Opportunity Zone, Office Rehabilitation

Rehabilitation of vacant office building in the heart of Newark’s downtown revitalization along with support parking lot. The commercial flex office space will support Monge Capital’s HQs and synergistic small WMBE to co-locate and serve as resources for Newark’s revival.

Estimated Economic and Social Impact

20 jobs and 20 construction jobs.

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