ONE MAIN ST EDGEWATER, LLC C/O NAT'L RE v. Edgewater Borough

CourtNew Jersey Tax Court
DecidedApril 27, 2026
Docket000444-2026
StatusPublished

This text of ONE MAIN ST EDGEWATER, LLC C/O NAT'L RE v. Edgewater Borough (ONE MAIN ST EDGEWATER, LLC C/O NAT'L RE v. Edgewater Borough) is published on Counsel Stack Legal Research, covering New Jersey Tax Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
ONE MAIN ST EDGEWATER, LLC C/O NAT'L RE v. Edgewater Borough, (N.J. Super. Ct. 2026).

Opinion

NOT FOR PUBLICATION WITHOUT THE APPROVAL OF THE TAX COURT COMMITTEE ON OPINIONS

------------------------------------------------------ ONE MAIN ST EDGEWATER, LLC : C/O NAT’L RE/, : TAX COURT OF NEW JERSEY : DOCKET NOS. 000444-2026 Plaintiff, : 000445-2026 : v. : : : for :Publication Approved : EDGEWATER BOROUGH, : In the New Jersey : Tax Court Reports Defendant. II : 11

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Decided: April _27__, 2026

Gregory J. Hazley for plaintiff (DeCotiis, FitzPatrick, Cole & Giblin, LLP, attorneys).

Robert P. Travers for defendant (Robert P. Travers Law, LLC, attorneys).

RAFFETTO, J.T.C.

Plaintiff, One Main St Edgewater, LLC (plaintiff), contests the property

classification of two adjacent parcels of real property that are improved with mixed-

use buildings located in Edgewater Borough’s (defendant) taxing district. Each

property is the site of a six-story structure comprised of retail space on the ground

level and residential rental apartments on the floors above. Both properties were

classified as Class 4A commercial property (4A) by defendant’s tax assessor as part

ADA Americans with Disabilities Act ENSURING AN OPEN DOOR TO

JUSTICE rm of his tax list for tax year 2026.

Plaintiff asserts that the properties should have been classified as Class 4C

apartments (4C) given their predominant use as multi-family residential apartments

rather than as commercial. The parcels are currently under contract to be sold. The

proposed reclassifications would remove the requirement for plaintiff to pay the

additional fee prescribed under N.J.S.A. 46:15-7.2,1 as part of the realty transfer fees

required to be paid to the county recording officer at the time the deeds are offered

for recording. N.J.S.A. 46:15-5 to -11.

In furtherance of its position, plaintiff has moved for summary judgment in

these matters claiming that it is entitled to judgment as a matter of law reclassifying

each property from 4A to 4C.

Neither existing law nor case precedent has addressed mixed-use properties

in the context of property classification for local property tax assessment purposes

under N.J.A.C. 18:12-2.2. As such, this is a case of first impression.

For the following reasons, the court concludes that, in the absence of further

statutory guidance from the Legislature and/or the adoption of administrative

regulations by the Director of the Division of Taxation (the Director) concerning

1 The additional fee imposed under N.J.S.A. 46:15-7.2 is commonly referred to as the “mansion tax”; however, the term “mansion tax” is not employed under N.J.S.A. 46:15-7.2.

2 mixed-use properties, a predominant use test is the appropriate standard for

determining a property’s classification for local property tax assessment purposes.

Therefore, the court adopts the predominant use test for resolution of these matters.

For the reasons set forth below, applying this test to the facts presented, the

court finds that each property should be reclassified from 4A to 4C. Therefore, the

court grants plaintiff’s motions for summary judgment and will enter Orders

accordingly.

I. Findings of Fact

The facts are not in dispute. Plaintiff is the owner of three adjacent parcels of

real property, two of which are the subject of these appeals. Together the properties

comprise “The View at Edgewater Harbor” (the development). The development is

located along the Hudson River waterfront in defendant’s taxing district. The

properties are designated as: (1) Block 99, Lot 1.03 (Lot 1.03), otherwise known as

45 River Road; and (2) Block 99, Lot 1.05 (Lot 1.05), otherwise known as Two Main

Street (when referenced together, the subject properties). The third parcel, which is

not under appeal, is designated as Block 99, Lot 1.07 (Lot 1.07), otherwise known

as Four Main Street.

Lot 1.03 is improved with a six-story building containing retail on the first

floor and sixty-five residential apartment rental units on the five stories above

ground level. The residential units encompass 65,115 square feet of the building,

3 while the first-floor retail portion covers 9,350 square feet. Overall, the retail space

comprises approximately 14% of Lot 1.03’s building area. Defendant’s tax assessor

classified Lot 1.03 as 4A for tax year 2026.

Lot 1.05 is also improved with a six-story building containing retail on the

first floor and forty-five residential apartment rental units on the five stories above

ground level. The residential units encompass 51,960 square feet of the building,

while the first-floor retail portion covers 4,992 square feet. Overall, the retail space

comprises less than 10% of Lot 1.05’s building area. Defendant’s tax assessor

classified Lot 1.05 as 4A for tax year 2026.

Lot 1.07 is improved with a five-story building containing retail on the first

floor and fifty-two residential apartment rental units on the four stories above ground

level. The residential units encompass 52,648 square feet of the building, while the

first-floor retail portion covers 8,546 square feet. Overall, the retail space comprises

approximately 16% of Lot 1.07’s building area. Although Lot 1.07 contains the

highest percentage of retail space among the three buildings within the development,

it was classified as 4C by defendant’s tax assessor for tax year 2026. As noted above,

this parcel is not subject to a pending appeal.

The development includes a fitness center, coworking space, a pool and other

amenities for the residents of the three buildings.

Plaintiff’s Vice President provided a summary of the square footage

4 allocations of the three buildings as part of her certification in support of plaintiff’s

summary judgment motions. The allocations were summarized as follows: 2

Property Residential Residential Retail Sq. Ft Percentage of Class Units Sq. Ft. Retail

Block 99, Lot 1.03 65 65,115 9,350 14% 4A Block 99, Lot 1.05 45 51,960 4,992 ~10% 4A

Block 99, Lot 1.07 52 52,648 8,546 16% 4C Total 162 169,723 22,888 13%

Additionally, the Vice President certified to the income generated by each

building during calendar years 2023 through 2025, which was supported by an

accrual-basis gross income comparison statement covering those years. The

statement compares the ratio of income generated from the retail component of each

building versus that received from the residential apartment rental component. The

comparison was summarized by plaintiff in the table below:

2 The allocations referenced in the table are as shown in plaintiff’s submissions. However, based on the figures referenced, the court’s computations of “Percentage of Retail” are: Lot 1.03 (14.4%); Lot 1.05 (9.6%); Lot 1.07 (16.2%); and Total (13.5%). The court’s computations do not impact its final conclusions herein. 5 Income 2025 2024 2023 Av2;. % Retail Income 2023-25 Lot 1.03 Retail 407,322.63 400,187.29 392 317.40

(Class 4A) Residential 2,736,329.32 2,691 ,542.06 2,664,761.21 12.9%

Total 3,143,651.95 3,091 729.35 3,057,078.61

Lot 1.05 Retail 228,961 .03 224 260.34 220,107.57

(Class 4A) Residential 1,908,468.18 1,886,119.43 1,869,346.57 10.6%

Total 2,137,449.21 2,110,379.77 2,089 454.14

Lot 1.07 Retail 369,673.05 365,578.57 359,963.14

(Class 4C) Residential 2,045,448.06 2,020,316.43 1,996,438.57 15.3%

Total 2,415 ,121.11 2,385,895.00 2,356,401.71

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