Sale of Ironbound lot could pave way for new era in iconic Newark neighborhood

IMG_0273

Sale of Ironbound lot could pave way for new era in iconic Newark neighborhood

Exciting development, and fun to imagine what could go here.

The owners of the famed Iberia restaurant placed the 5.2-acre site on the open market earlier this month, and are courting developers who may see it as a prime parcel for a high-rise office or residential tower.

Frank Giantomasi, a real estate attorney with Chiesa, Shahinian & Giantomasi who is representing the owners in the potential sale, said the site – with frontage on major thoroughfares Market Street and Ferry Street – could be key in the city’s plans to attract new professionals seeking both easy access to Newark Penn Station and amenities including restaurants, shopping and nightlife.

The Iberia property is currently home to both the restaurant and two storage facilities, but is mostly occupied by blacktop parking spaces, which city officials have often lamented as a deterrent to major development as they look to create a transit-oriented district similar to what has sprung up around the PATH station in Harrison.

Author: Ken Walker

Husband, Father, Newarker, PCA Elder, Business Analyst. In a glass case of emotion since 1978.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s