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New York

Maddd Equities buys long-time Newark Star-Ledger site

Newspaper moving out of building it's occupied for almost 50 years

From left: the Star Ledger and 1 Star-Ledger Plaza in Newark
From left: the Star Ledger and 1 Star-Ledger Plaza in Newark

The Newark Star-Ledger is selling its home. Maddd Equities — a Floral Park, N.Y.-based investment firm — is buying the 177,000-square-foot building and its parking deck at 1 Star-Ledger Plaza in Newark. 

The Star-Ledger will move some of its operations to locations in Woodbridge and Secaucus. The price of the property was not disclosed.

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The newspaper will still maintain an office in Newark, according to the Star-Ledger. The publisher, the editorial board, columnists and magazine staff will lease office space at the Gateway Center complex in downtown Newark.

Maddd Equities recently inked a 99-year lease to build a 415,000-square-foot building in Hudson Yards. The firm is also planning a 12-story development in Hunter’s Point. [Star-Ledger] — Claire Moses