The investment and management firm that two years ago acquired Park Square, a two-building mid-rise in the center of downtown, has secured a $34-million loan on the property.
Tag Archives: Park Square
A closer look at PILOTs
Recent downtown development projects have a mixed bag when it comes to reaching Payments In Lieu Of Taxes (PILOT) levels anticipated in their original financial agreements.
Park Square sold for almost $36 million
Park Square, the two-building, 159-unit rental complex downtown, has sold for $35.9 million, according to property records. Reports in NJ Biz and GlobeSt.com initially had the sale price as $34.9 million.
A closer look at local Walk Scores
How walkable is Rahway? According to Walk Score, it’s more walkable than most cities in New Jersey.
A look at total assessment, 2015-16
Rahway’s total taxable value nudged up slightly last year, highlighted by a sharp increase in apartment assessments thanks to a new building on the tax rolls, and a dip among industrial property due to lower assessments on Merck properties.
Retail comings and goings for Q4 2015
A little behind schedule on this but here’s a rundown of some comings and goings around town on the retail front during the fourth quarter of 2015:
Park Square tax appeal settlement
Park Square, the 159-unit rental complex downtown that was purchased last month, reached a tax appeal settlement with the city in October, which reduced its assessment by more than a third.
Mack-Cali acquires Park Square for $46.5M
Seven years after breaking ground on its first phase, Park Square has been acquired for $46.5 million.