The resident lounge at 45 Market in Morristown — Courtesy: The Marketing Directors
By Joshua Burd
A leasing team has all but filled a new 54-unit luxury apartment building in Morristown, citing its downtown location and a host of stylish amenities.
Working on behalf of Vertical Realty Capital and Stolar Capital, the developers of what’s known as 45 Market, The Marketing Directors said this week that the property is now 95 percent leased. Renters have snapped up the collection of studio, one-bedroom and two-bedroom units, which is steps from the Morristown Green in a revitalized section of the downtown.
“Vertical Realty Capital and Stolar Capital created an upscale, boutique residential offering at 45 Market that quickly resonated with discerning renters,” said Jacqueline Urgo, president of The Marketing Directors. “The building also had meaningful attributes to succeed in a market reshaped by the COVID pandemic. Suburban downtowns have risen in popularity with residents looking for less congested areas, but still wanting a dynamic lifestyle close at hand.”
Tucked between Market and Bank streets, the five-story building joins other recent projects that have brought upscale housing, offices and retail space to the area. The leasing team noted that 45 Market will add 19,000 square feet of street-level storefronts.
Amenities and common spaces include an upscale lobby lounge, a co-working space and a modern rooftop fitness center, according to a news release. The building also features a penthouse resident lounge that opens onto an outdoor roof deck.
“With its historic charm and urbane environment, Morristown has consistently topped the list of great New Jersey downtowns,” Urgo said. “45 Market delivered luxury homes and five-star amenities in the heart of this famed center of shopping, dining and culture and arts while fitting in contextually with its historic surroundings.”