The lobby of 325 Ferry Street in Newark — Courtesy: T. Gary Gutjahr and J. Gordon Gutjahr
By Joshua Burd
Developers are preparing to take the wraps off a new residential building in Newark’s North Ironbound section, having already leased nearly half of its 91 luxury apartments.
The team, T. Gary and J. Gordon Gutjahr, announced that the project, 325 Ferry Street, has leased more than 40 percent of the units at the property ahead of a planned grand opening at noon on May 4. The building has attracted renters with its location in one of Newark’s most popular neighborhoods, upscale amenities and shuttle service to both Newark Penn Station and the Harrison PATH Station.
Net effective rents for the remaining units, which include two-bedroom apartments of up to 1,116 square feet, start from $2,317.
“This grand opening event will celebrate not only the official opening of the building, but also the overwhelmingly positive response we have received from renters,” T. Gary Gutjahr said. “We are proud of the reception the community has received thus far and we are looking forward to being a part of this vibrant, walkable, transit-friendly neighborhood.”
Plans for 325 Ferry Street also call for street-level retail that will soon be occupied by a 5,000-square-foot sports bar, a Neapolitan Express Pizzeria and a pet grooming salon. Neapolitan Express will be on hand for the upcoming grand opening event.
Marchetto Higgins Stieve Architects designed the project, which offers high-end interiors and appliances, with the option to use ultra-fast, unlimited gigabit internet provided by GIGXERO. Amenities will include a custom fitness studio with cardio and weightlifting equipment, a lounge and an outdoor patio with seating and picnic area, fire pit and games.
Residents will also have services such as secure, covered parking and a package room with refrigerated parcel lockers.
“We take the quality of our design and the level of detail we put into creating each and every residence very seriously, so it is gratifying to see so many renters are responding favorably to the community, even before our official grand opening,” J. Gordon Gutjahr said. “It’s the same approach we have taken building custom, luxury homes in New Jersey for more than 20 years and it is translating well to Newark’s dynamic North Ironbound neighborhood.”
Developers set to unveil 91-unit luxury rental project in Newark
