Hersh Tower has been designated a landmark by the New Jersey Office of Historic Preservation and is considered one of the best examples of art deco architecture in the state. The seller acquired the property through foreclosure in 1995 and recently concluded an aggressive renovation program.
The asset includes ground-floor retail and upper-floor office space. Because the building is one of highest points in the immediate area, the top floors have been leased to cellular companies for their equipment. The property also lies within the Elizabeth Urban Enterprise Zone, which carries such benefits as an exemption from state sales tax for business purchases.
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