The Planning Board gave the green light for a five-story, 219-unit rental apartment complex to be constructed on Main Street adjacent to City Hall Plaza, SDI Technologies and Rahway Plaza Apartments.
Meridia Water’s Edge, a 108-unit rental building that began leasing two years ago, has sold for$29.328 million, or about $271,556 per unit.
Continue reading Meridia Water’s Edge sells for $29.3 million
Meridia Water’s Edge, the two-year-old rental complex at City Hall Plaza, looks like it will be sold in the near future.
Winter Storm Jonas blew through town, dumping more than two feet of snow over the weekend, and causing a partial roof collapse at the Center Circle on Saturday.
The tax assessment for Meridia Water’s Edge is more than $8 million, 20 percent higher than what I estimated a few years ago before construction began. That means the disparity in would-be property taxes versus the Payment In Lieu Of Taxes (PILOT) is even wider than I originally projected.