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Commercial



98 Edison Avenue

Seven-Story, 456,000-Square-Foot Commercial Redevelopment Proposed at 98 Edison Place, Newark

Edison Properties is proposing to redevelop the existing, largely vacant six-story Newark Warehouse Company Building at 98 Edison Place, located on the corner of McCarter Highway in Downtown Newark. The expanded building will rise seven stories and measure 456,059 square feet, Jersey Digs reported. It would contain commercial space for offices and retail and a landscaped rooftop terrace. Parsippany, N.J.-based Langan Engineering & Environmental Services is the architect of record. Pending the required approvals and variances, occupancy is expected in early 2018.



57 Willoughby Street

Renovation Planned for Six-Story, 124,000-Square-Foot Office Building at 57 Willoughby Street, Downtown Brooklyn

Meadow Partners has acquired, for $54 million, the six-story, 124,000-square-foot commercial building at 57 Willoughby Street, located at the corner of Lawrence Street in Downtown Brooklyn. The new owner plans to renovate the property, which includes rebuilding the 9,450-square-foot ground-floor retail space and modernizing the office space on the floors above, Real Estate Weekly reported. The property also contains 96,000 square feet of air rights, The Real Deal first reported. A $50.2 million acquisition loan was secured for the purchase.