44 Main in Little Falls — Courtesy: KV Realty LLC/Value Asset Management
By Joshua Burd
A new 34-unit rental project is off to a fast start in downtown Little Falls, reaching the 50 percent leased milestone just a few months after opening.
Known as 44 Main, the community was built by KV Realty LLC and sits at the intersection of Main and Maple streets. The local developer has tapped Value Asset Management as its marketing and leasing agent, which is seeking to tap into the demand for high-end apartments near a downtown train station.
“44 Main is the first upscale rental building to open in downtown Little Falls in a generation,” said Jack Linefsky, vice president of property management for Value Asset Management. “Judging by the high leasing velocity we’ve experienced thus far, there is clearly pent-up demand in this market for brand new homes in an amenitized, well-located building.”
Homes in the three-story elevator building range from 750 to more than 1,200 square feet and are priced from $1,950.
The development and marketing team touted their efforts to blend 44 Main into Little Falls’ central business district. John J. Veteri, a member of the development team, said that, “as a local developer and longtime residents of Little Falls, we took great strides to ensure 44 Main was a signature new residential address that the entire township can be proud of.”
“The exterior was designed to blend seamlessly into the character and fabric of the downtown streetscape,” Veteri said. “We utilized recycled local brick to create the lower façade and replicate an old world feel in a modern and new building. We’ll also be adorning hallways with historic Little Falls images to pay homage to the township’s past and establish a small-town community environment within the building itself.”
Apartments feature nine-foot ceilings, hardwood floors and high-end finishes and appliances. Other in-unit features include washers and dryers, LED lighting and flat-screen TV wall mounts.
Community amenities include bike storage, a clubroom and lounge and fitness center, according to a news release. The project also includes ground-floor retail space.
“No detail was spared in the creation of this building,” Linefsky said. “The development team drew on inspiration and design trends nationwide.
“From welcoming outdoor New Orleans French Quarter style light fixtures to reclaimed Wyoming wood plank walling in common spaces, there’s an attention to detail and warmth throughout 44 Main that can’t be matched by any of the area’s larger rental offerings.”
The property is less than 10 minutes from NJ Transit’s Little Falls train station on Union Boulevard and steps from many local storefronts, the development team said. Also nearby is NJ Transit bus service to Manhattan and the restaurant and cultural options of Montclair.