Comments
Ironboundian t1_jc30agj wrote
“….Pollack noted that Tona used its own funds to pour 12 floors of concrete before the loan closed. “
1Pichi t1_jc3ecks wrote
Great news
Newarkguy1836 t1_jc4vk6y wrote
It's great to see developers have enough confidence in Newark to actually put their own money and get things going.
Newarkguy1836 t1_jc4vsqr wrote
Tona is planning another similar height structure a "few blocks away" plus the apartment building on Central Avenue near the intersection with 1st Street directly across from the old Cablevision headquarters.
Jerz2florida t1_jc51q65 wrote
Looks like that new apartment building that got built in East Orange a few years back.
AdRevolutionary8544 t1_jc65o4v wrote
I live down the street from this. It came up incredibly fast. I wish the city would sell their municipal land in the same area and put a few more of these guys up
GhostOfRobertTreat t1_jc773kt wrote
Permanent financing as opposed to a construction loan. In this case looks like the developer “loaned itself” some cash.
thebruns t1_jc77meu wrote
Imma loan myself some cash and the write it off
GhostOfRobertTreat t1_jc7dx37 wrote
Meh. It’s kind of like taking a mortgage on your house at 5% because you can take the cash out and invest it at 7%.
naglephoto t1_jcmnlrw wrote
Same architect as Allure 258, INOA Architecture
thebruns t1_jc2ytqg wrote
This building is like halfway done already