Newark’s IDT building to be redeveloped under new ownership
From Jersey Digs.
Newark’s IDT building will be redeveloped under new ownership, according to a sale listing. In 2023, city officials approved a plan to redevelop the site, located at 520 Broad St., to include more than 2,400 new residential units. Inclusionary zoning law requires 20% of those units, or 437, to be marketed as affordable housing. It was purchased by Sinai Equity Group in 2022 for $49 million. The current listing does not indicate a sale price.
From Jersey Digs.
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