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.
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