Newark, New Jersey–based developer J&L Companies’ newest development, Fifty-Five Union, is nearly ready for its first residents, with move-ins set to start this month.
Fifty-Five Union is located in the Ironbound neighborhood in southeast Newark, close to the Newark Penn Station transportation hub. Designed by Lambertville, New Jersey–based Minno & Wasko Architects and Planners, the 12-story tower features a brick veneer exterior facade in blocks of white and dark gray, with a double-height, glass-walled lobby at street level. A portion of the building is cantilevered over the entrance, held up by steel bars arranged throughout a pedestrian walkway and public plaza.
Units include studio, one-bedroom and two-bedroom apartments with open layouts and high-end finishes, including stainless steel appliances, quartz countertops, floor-to-ceiling windows, central air and in-unit laundry, according to a press release shared with Multifamily Dive. Keyless entry is also available, as is 1 gigabit fiber internet for a $50 monthly fee. Starting rents range from $1,900 to $3,400.
The development's more than 20,000 square feet of outdoor amenities includes a central courtyard with fire pits and grilling stations, as well as a landscaped rooftop garden and entertainment area with views of New York City. Inside, residents have access to a lobby with a 24-hour concierge, secure package reception and coffee bar; a club room and catering kitchen; a fitness lounge with an outdoor exercise area; and a business center with private rooms and coworking spaces.
An indoor parking garage, EV charging stations, bike storage and cold storage are also available on site, as well as 3,078 square feet of ground floor retail.
Development boom
With the average rent for a one-bedroom apartment in New York City now up to $5,316, Newark — located 15 miles from downtown Manhattan or 45 minutes by car or train — is seen by many renters as a less expensive but equally transit-oriented living option. The city has seen a boom in new development over the past several years; over 30 projects are in the planning and development stages within the city limits, 20 of which include apartment developments of varying sizes.
The pipeline includes two towers developed in collaboration with Boraie Development and Newark native Shaquille O’Neal. Mayor Ras Baraka has also made a commitment to build 16,000 new affordable units in the city, based on a Rutgers University study of Newark’s affordable housing shortfalls.
Named for its history as a metalworking industrial area, the Ironbound neighborhood is known for its cultural diversity, with many Portuguese, Spanish and Brazilian shops and restaurants located in the area, according to the developer.
“As a local company long committed to the positive growth and economic vitality of Newark, we understand and appreciate the unique character of this community and have worked tirelessly to deliver a property that embodies the spirit and energy of the city,” said Gabriel Lopez, vice president of J&L Companies.
The developer partnered with Gallery Aferro, an artist-run space based in the Ironbound, to display works of art throughout the property, including pieces by Anne Q. McKeown in the furnished model homes and local artists’ works in the lobby, amenity spaces and interior courtyard. J&L is also considering submissions for an outdoor sculpture design to be displayed in the public plaza, which will play host to community events throughout the year.
