177 Franklin St - Apartments FOR SALE


Bloomfield, NJ 07003
$8,000,000 USD
201-953-9532
177 Franklin St, Bloomfield, NJ for Sale
$8,000,000 USD
Apartments - FOR SALE
1/4
null | Request Cap Rate

177 Franklin St
Bloomfield, NJ 07003


OVERVIEW

Bloomfield Lofts is a one-of-a-kind adaptive reuse project, with full land use entitlements to revitalize a former South Jr. High School site in Bloomfield, vacant since 1980s. This thoughtfully designed community can feature 122 units of studio units complemented by a range of modern amenities. Residents will have access to community spaces, including a lounge area, a BBQ/grilling station, and a fitness center, fostering a vibrant and active lifestyle. The project also includes 171 dedicated parking spaces, ensuring convenient on-site parking for residents. Strategically located in Essex County along the Garden State Parkway, Bloomfield Lofts offers seamless connectivity to New York City, with NJ Transit service from the Bloomfield and Watsessing Avenue stations providing a 35-minute commute to Penn Station. The property's proximity to major highways, including Interstate 280 and the Garden State Parkway, enhances regional accessibility. Nearby shopping centers such as Franklin Square Plaza and Jersey Plaza, along with Watsessing Park, provide retail and recreational opportunities. Additionally, the neighborhood benefits from its close proximity to major employers, including Bloomfield College, Bloomfield Public Schools, and Hackensack Meridian Mountainside Medical Center. For additional information visit: https://hudsonatlantic.com

FOR SALE DETAILS

PRICE

$8,000,000 USD

PRICE/SF

$50 USD /SF

# OF UNITS

122

PRICE/UNIT

$65,574

CAP RATE

Request Cap Rate

% LEASED

-

STATUS

Proposed

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Bloomfield Lofts

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

5

YEAR BUILT

2025

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

02-00335-0000-00026

ASK ABOUT THIS PROPERTY

Adam ZweibelHudson Atlantic RealtyMore Info
201-953-9532

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Adam ZweibelHudson Atlantic RealtyMore Info
201-953-9532

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.