Amenities at Vermella Broad Street, Russo Development’s new 296-unit luxury apartment property at 355 Broad St. in Newark, include a clubroom, a top-floor resident lounge and a modern fitness center. — Courtesy: Russo Development
By Joshua Burd
Russo Development has welcomed its first 50 residents to a new 296-unit luxury apartment property just north of NJ Transit’s busy Broad Street station in Newark.
According to the firm, the milestone follows the launch of leasing late last year at the twin five-story buildings at 355 Broad St. The new residents are helping to activate the property, which Russo says will anchor redevelopment of the Lower Broad Street neighborhood, benefiting from a location that’s just north of Interstate 280 and less than 500 feet from the train station.
Monthly rents at the property, the 14th under Russo’s Vermella brand, start from the $1,900s.
“With Vermella Broad Street, we’ve introduced the pillars of our Vermella lifestyle brand to Newark, including an exceptional array of thoughtful amenities and social spaces that sets a new standard in the city,” said Adam Pasternack, president of Russo Property Management. “Simultaneously, we remain true to Newark’s vibrant heritage. The inclusion of street-level public gallery space, which will feature works of local artists and play host to diverse neighborhood creative events, reflects our dedication to community development and contributing to Newark’s rich cultural fabric.”
Designed by Minno & Wasko Architects and Planners, the complex sits on more than three acres and has a mix of studio, one-bedroom and two-bedroom apartments with upscale finishes and appliances. Residents have access to 40,000 square feet of amenity and social spaces such as a landscaped courtyard with a resort-style pool, grilling areas and a rooftop deck with panoramic views of Newark and New York City, as well as a clubroom, a top-floor resident lounge and a modern fitness center.
Russo has also provided residents with a Newark Gift Card as part of their move-in gift, tapping into an existing program designed to encourage local shopping and support the small business community.
Vermella Broad Street is minutes from New Jersey Institute of Technology, Rutgers University and the city’s other academic and health care institutions. Also nearby are the Newark Museum of Art and the New Jersey Performing Arts Center, while the acclaimed Ironbound district is a short ride away.
