J&L Cos. has launched leasing at Fifty-Five Union, a 403-unit luxury apartment building at 55 Union St. in Newark’s Ironbound section. — Rendering by Minno & Wasko Architects and Planners/Courtesy: J&L
By Joshua Burd
J&L Cos. is opening the doors to a highly anticipated, 403-unit apartment building in Newark’s historic Ironbound section.
Located at 55 Union St., the 12-story property is set to welcome residents this month after the recent launch of leasing. The developer and longtime Newark property owner now hopes to lure renters with a series of upscale amenities, more than 3,000 square feet of ground-floor retail space and a location two blocks from Newark Penn Station, along with plans to connect the building with the acclaimed neighborhood’s business and cultural offerings.
Monthly rents at Fifty-Five Union, a collection of studio, one-bedroom and two-bedroom homes, start at $1,900.
“We are thrilled to begin leasing at Fifty-Five Union which introduces a new, modern living experience to the area,” said Gabriel Lopez, a vice president with J&L Cos. “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.
“We are grateful to the many municipal officials and agencies who worked with us in a collaborative effort on this transformative project, as well as the hundreds of tradespeople, architects, designers and everyone else who helped shape this remarkable residential development. We now look forward to welcoming residents and connecting them to all the unique qualities that define the Ironbound and downtown Newark.”
Murphy Schiller & Wilkes LLP represented J&L Cos. in connection with multiple aspects of the project, with the Partner Chris Murphy of the firm’s land use group securing approvals from Newark’s planning board, while Partner Thomas Dolan and the property tax team negotiated a payment in lieu of taxes agreement. Managing Partner Kellen Murphy led MSW’s transactional attorneys, including Partner Charles J. Wilkes and Associate Hannah R. Wolinsky, in the negotiation of financing and construction contracts for the development.
J&L, whose roots as a business owner and parking lot operator in Newark go back to the 1960s, broke ground on Fifty-Five Union in March 2021. Its team for the project includes Minno & Wasko Architects and Planners and Sordoni Construction Co., while the developer has partnered with Gallery Aferro, Newark’s oldest operating artist-run space, to display works from local artists throughout the property.
Amenities at Fifty-Five Union include more than 20,000 square feet of outdoor space such as a landscaped rooftop garden and entertainment area with views of New York City and downtown Newark, according to a news release. Residents will also have access to a courtyard at the center of the property with an entertainment area with grill stations, fire pits and lounge seating.
Indoors, J&L will offer a club room, a private dining room and catering kitchen, a high-end fitness center with an outdoor exercise area and a business lounge with private and co-working spaces, conference rooms and WiFi. Meantime, the building’s luxury apartments are prewired with 1-gigabit internet service for $50 per month, using Newark fiber powered by Gigxero and Invest Newark.
Seeking to showcase the Ironbound neighborhood, J&L said Gallery Aferro will exhibit pieces by Anne Q. McKeown in Fifty-Five Union’s furnished model homes, while additional works from Newark artists will be programmed into the property’s lobby, amenity spaces and interior courtyard. In addition, the firm is considering submissions for an outdoor sculpture to be displayed in the public plaza located at the entrance of the property that will host events throughout the year.
Other local business partnerships currently include Sihana Café to provide coffee to residents at no charge, while renters have access to the acclaimed restaurants, cafes and shops throughout the Ironbound and downtown Newark’s other destinations.
J&L, meantime, has also incorporated ecofriendly features such as a green roof system, a living wall in the lobby, a gray water recycling system and electric vehicle charging stations, the news release said, along with LED lighting throughout and Energy Star-rated appliances.
J&L lands $94 million construction loan for long-awaited, 403-unit project in Newark
