The Essex Lake House is The Ishay Group’s most recent acquisition. It was formerly known as “Carmel Towers” and is located at 440 Elizabeth Avenue, Newark NJ. Plans are to redevelop (gut, re mediate, upgrade, improve, restore, beautify, market and lease) the vacant 25 stories, 216 apartment 246,600 square foot residential tower and its adjacent 50,000 square foot parking structure.
The Ishay Group was awarded the winning bid for a public “Request for Offers To Purchase for The Sale of Notes and Mortgages Held on Carmel Towers” issued by NJHMFA. The six notes that were outstanding dated back as recent as 2002 and as far back as 1969.
Mancini Duffy Architecture has been awarded the assignment of Architect on record, for THE ESSEX LAKE-HOUSE. Below are some of the preliminary renderings: