Scenario A / Recommended direction
Residential + Retail
- ~250–350 residential units
- 8–10 stories
- ~10,000–20,000 SF retail / restaurant
- Structured parking
- Waterfront public realm
- Cost
- ~$153.0M
- Value
- ~$179.2M
- Value creation
- ~$26.1M
- ROI
- 17.1%
57–67 Bridge Street: opportunity report
Development opportunity brief57–67 Bridge Street / Newark, NJ 07102
57–67 Bridge Street
Newark, NJ 07102 / Generated 2026-10-27
Preliminary Development
Opportunity Snapshot
Newark, NJ 07102
88Opportunity score / 100
- Site area
- 102,836 SF / 2.3608 acres
- Block / lots
- Block 4, Lots 9 + 119
- Zoning
- MU-2 / Mixed-Use 2
- Development height
- 2–10 stories
- Current condition
- Vacant & Cleared
- Setting
- Waterfront
Executive opportunity summary
A rare large waterfront site with the scale and location to support significant mixed-use redevelopment, subject to zoning, environmental, flood and entitlement verification.
Development opportunity brief57–67 Bridge Street / Newark, NJ 07102
Location + investment context
Downtown waterfront opportunity
A rare large waterfront site with the scale and location to support significant mixed-use redevelopment, subject to zoning, environmental, flood and entitlement verification.
Development opportunity brief57–67 Bridge Street / Newark, NJ 07102
Development opportunities
Scenario B / Alternative
Hotel + Hospitality
- ~180–250 rooms
- 8–10 stories
- Restaurant / bar
- Meeting / event space
- Structured parking
- Waterfront public realm
- Cost
- ~$109.6M
- Value
- ~$130.4M
- Value creation
- ~$20.8M
- ROI
- 18.9%
Scenario C / Alternative
Residential + Hotel + Retail
- ~100–200 residential units
- ~150–200 hotel rooms
- 8–10 stories
- Retail / dining / amenities
- Meeting / event space
- Structured parking
- Waterfront public realm
- Cost
- ~$154.7M
- Value
- ~$185.7M
- Value creation
- ~$31.0M
- ROI
- 20.0%
Concepts are not approved capacity or guaranteed returns. Recommended refers to the direction for further review. Hotel use and development economics require validation.
Development opportunity brief57–67 Bridge Street / Newark, NJ 07102
Site + zoning
- Site area
- 102,836 SF / 2.3608 acres
- Block / lots
- Block 4, Lots 9 + 119
- Zoning
- MU-2 / Mixed-Use 2
- Development height
- 2–10 stories
- Current condition
- Vacant & Cleared
- Setting
- Waterfront
Newark Riverfront Redevelopment Plan. Confirm governing amendments, survey, uses, height and public-access obligations.
Development opportunity brief57–67 Bridge Street / Newark, NJ 07102
Risks + constraints
Priority review matrix
FloodNJDEP / FEMA reviewReview
EnvironmentalFurther investigationReview
TidelandsFurther reviewReview
Drainage easementNorthern site constraintReview
WaterfrontPublic-access requirementsReview
EntitlementsDetailed confirmationReview
Access / parkingScenario-dependentReview
MarketScenario-dependentReview
Development opportunity brief57–67 Bridge Street / Newark, NJ 07102
Buildable envelope + site strategy
A framework for development
Organize development capacity, waterfront public space and access into a coherent site plan.
Development opportunity brief57–67 Bridge Street / Newark, NJ 07102
Preliminary financial feasibility
Residential + Retail / shared development model
- Development cost
- ~$153.0M
- Stabilized value
- ~$179.2M
- Potential value creation
- ~+$26.1M
- Preliminary Development ROI
- 17.1%
- Project IRR
- 7.3%
- Yield on cost
- 6.2%
- Development spread
- 0.9%
Planning-level development case based on stated assumptions. Effective component cap 5.3%. Component NOI / value: residential ~$9.11M / ~$173.5M; hotel $0 / $0; retail $342,720 / ~$5.71M.
- Planning land basis4.6%
- Hard + site + parking78.8%
- Soft costs7.9%
- Contingency3.9%
- Financing / carry4.8%
Preliminary planning-level estimates based on stated assumptions. Actual results may differ materially.
Planning inputs
- Program
- 375 units / 0 rooms / 15,000 SF retail
- Efficiency / derived GFA
- 86.0% / 322,674 SF
- Planning Land Basis - not broker asking price / building
- ~$7.00M / $335 per gross SF
- Parking / site
- 263 spaces x $32,500 / ~$4.00M
- Soft / contingency / carry
- 10.0% / 5.0% / 5.0%
- Residential / retail rent
- $3100 per month / $35 per SF/year
- Vacancy / residential expenses / cap
- 4.0% / 32.0% / 5.25%
- Hotel F&B / events / expenses / management / reserve / cap
- No hotel component; retail cap 6.0%
- Hotel / delivery / lease-up
- $240 ADR, 75.0% occupancy / 36 + 12 months
ROI = (stabilized value - total development cost) / total development cost. IRR uses monthly acquisition/draws, lease-up NOI and net disposition; therefore it includes cash flows outside headline ROI. Annualized IRR is omitted if flows do not have one conventional investment-to-return pattern.
Development opportunity brief57–67 Bridge Street / Newark, NJ 07102
Next steps + contact
Feasibility & due diligence roadmap
- 01Zoning & entitlement confirmation
- 02Survey + easement review
- 03Flood / NJDEP review
- 04Environmental screening
- 05Tidelands review
- 06Utility + geotechnical review
- 07Refine development yield
- 08Market validation
- 09Development cost validation
- 10Financial feasibility
Next steps
- Confirm zoning + use requirements
- Review survey + easements
- Refine development yield
- Validate market + cost assumptions
- Proceed with feasibility review
Listing representatives: The Blau & Berg Company / 973-379-6644
Jason M. Crimmins, CCIM, SIOR / jmcrimmins@blauberg.com | Alessandro (Alex) Conte, CCIM, SIOR / aconte@blauberg.com | Peter J. Murano Jr., SIOR / pjmurano@blauberg.com
Explore the full opportunity
Interactive property analysis at oplot.app
Preliminary analysis
This report provides preliminary opportunity analysis for early-stage exploration only. Property information, development concepts, market information, costs, revenues, values and projected returns are based on available information and stated assumptions and may change materially. This report is not an appraisal, investment recommendation, financing commitment, legal opinion or guarantee of development feasibility or financial performance. Recipients should independently verify material information and obtain appropriate professional advice before making acquisition, investment, financing, design, permitting or construction decisions.
To the maximum extent permitted by applicable law, OpLot and its contributors make no representation or warranty regarding the completeness or accuracy of preliminary estimates and are not responsible for decisions made solely in reliance upon them. Nothing in this notice excludes liability or rights that cannot lawfully be excluded.
Unless otherwise identified, analysis graphics, development diagrams, massing studies and development illustrations presented within OpLot property analyses are created by OpLot using publicly available information, supplied information and preliminary site analysis.
Public information: property research, Newark planning resources and regional market context. Graphics and development illustrations: OpLot.