First Republic Corp. of America v. Borough of East Newark

Taxpayer appeals from a Tax Court judgment finding the true value of the subject property to be $15,269,000 for 1993, $15,069,-700 for 1994 and $15,026,100 for 1995, and affirming the assessments under review. First Republic Corp. v. Borough of East Newark, 16 N.J. Tax 568 (Tax 1997). We now affirm.

The assessed property is a collection of multistory, brick, mill-style buildings with 1,133,774 square feet of leasable space. The structures were built in the late nineteenth and early twentieth centuries, and the lots on which they are located, including parking areas, total 13.45 acres. Most of…