Walker House, a converted historic office tower at 540 Broad St. in Newark, now houses a mix of uses including 263 market-rate apartments. — Courtesy: New World Group
By Joshua Burd
Renters have flocked to one of Newark’s latest and most distinctive apartment buildings, having leased more than 50 percent of the units at a converted historic office tower on Broad Street.
A development group this week announced the milestone at Walker House, a 21-story building at 540 Broad St. that is home to 263 market-rate apartments. The team, which includes L+M Development Partners, Prudential Financial Inc. and Goldman Sachs Urban Investment Group, is hailing the response as validation of the building’s upscale amenities, its downtown location and the retail and entertainment offerings that are coming to the former New Jersey Bell tower.
“Since leasing began in early summer, we’ve found that renters are particularly drawn to the unique living experience that Walker House offers in Downtown Newark: a beautifully restored historic building that also includes modern amenities and residences, dynamic retail, great transit access and gorgeous views,” said Sam Chapin, an associate director at L+M. “With Newark’s first rock climbing gym and the best brewery in town opening in the next few months, Walker House is quickly becoming one of Downtown’s most sought-after addresses.”
The Marketing Directors is handling the marketing and leasing for Walker House’s market-rate residences out of an on-site leasing office, the developers noted. Having opened in June, the Art Deco tower includes studios through three-bedrooms starting at $1,845, with one month free on a 13-month lease and each home featuring high-end finishes and appliances.
Some homes include private terraces, L+M said. Walker House is also steps from light rail, parks and cultural institutions as well as the NJ Transit commuter rail station for a half-hour ride into Lower Manhattan.
Meantime, the building’s top floor is fully dedicated to resident amenities, a fitness center and yoga studio, a library lounge and private catering kitchen, among others, according to a news release. The amenity floor features a rooftop terrace with outdoor seating and dining, capitalizing on another key feature of the landmarked, Ralph Thomas Walker-designed building.
Walker House will also include a mix of commercial and retail tenants that will begin opening their doors this month. Newark Local Beer, a craft brewery and taproom, will open on the ground floor this spring, along with Bada Bean Cawfee.
Also opening in the coming months on the ground floor and lower level will be Method Climbing, the first indoor rock-climbing gym in Newark. The ground floor will additionally house a UPS Store, while the building is also home to office tenants such as Per Scholas, a nationally renowned tech training nonprofit.