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117-127 7th St - Approved for 136 Units
1.3 Acres of Residential Land in Plainfield, NJ 07060
Investment Highlights
- Located within an Opportunity Zone
- County Planning board approval has already been submitted
- There are 136 (1:1) parking spaces which includes a cost effective, state-of- the-art grid system which allows all cars to be accessible at all times.
- Property will be delivered with TWA approval and county soil approvals.
- Approved PILOT in place.
- Less than a half mile from the Plainfield train station and has great visibility, located on the corners of three streets
Executive Summary
The green roof is likely being removed from the plans per owner. This is currently in progress and will not require a board appearance per their conversations with the city. Per owner, “retention will be handled underground, saving millions in construction costs. Our engineer gave us rough estimates on the infiltration design costing around $600,000 labor and materials."
Property Facts
| Sale Type | Investment | Property Subtype | Residential |
| No. Lots | 1 | Total Lot Size | 1.30 AC |
| Property Type | Land | Opportunity Zone |
Yes
|
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Total Lot Size | 1.30 AC |
| Opportunity Zone |
Yes |
1 Lot Available
Lot
| Lot Size | 1.30 AC |
| Lot Size | 1.30 AC |
Description
The property is less than a half mile from the Plainfield train station, a commuter train station. It is also less than one-half mile (a 3-minute walk) from Plainfield City Hall and the Plainfield police department. The property has great visibility from three streets. It’s on the corners of both E 6th and E 7th Street and takes up its entire block on the Cleveland Avenue side of the property. The development project is also around the corner from the Twin City Supermarket, Plainfield Public Library and the popular Queen City Coffee Roasters, a boutique coffee shop with a large, local following. Plainfield High School is an 11-minute walk from the property as well and Route 22 is the most easily accessible highway.
PROPERTY TAXES
| Parcel Number | 12-00837-0000-00001 | Improvements Assessment | £1,006,622 |
| Land Assessment | £95,459 | Total Assessment | £1,102,081 |
PROPERTY TAXES
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Julie Gralla -
The Kislak Company, Inc.
Presented by
117-127 7th St - Approved for 136 Units
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