The Nell at 100 South Washington Ave. in Dunellen has 252 upscale apartments with garage parking and a clubhouse that offers a modern fitness center, a resident lounge and a resort-style pool, among other amenities. — Courtesy: Prism Capital Partners
By Joshua Burd
Prism Capital Partners has all but completed its redevelopment of a former industrial property in Dunellen, now the site of more than 250 apartments and new freestanding retail space.
The firm on Wednesday said it has released the sixth and final residential building at 100 South Washington Ave., also known as The Nell, after having leased up the first five in just eight months. It’s also putting the finishing touches on its roughly 9,300-square-foot retail component, where it’s marketing the remaining space as tenants Blue Foundry Bank and Kessler physical therapy prepare to open this fall.
“The Nell’s success reflects ongoing demand for multifamily in dynamic downtowns, as well as the wonderful sense of community that is developing here,” said Prism’s Robert Fourniadis, its senior vice president for residential. “We continue to receive rave reviews on the quality of the homes and amenity spaces from residents and prospective residents alike. The time is right for people interested in The Nell to make a move — before it’s too late.”
Located directly across from NJ Transit’s Dunellen train station, The Nell has revitalized the former Art Color industrial facility in the borough’s downtown. Prism has attracted renters with its 252 upscale one- and two-bedroom homes with garage parking and a clubhouse that offers a modern fitness center, a resident lounge and a resort-style pool, among other amenities.
Prism’s Edwin Cohen, a principal partner with the Nutley-based firm, credited The Nell’s on-site leasing team — including The Marketing Directors’ Shanice Coull, Leo Loyo and Jamie Case — — for their roles in the lease-up.
“They have crafted and executed a leasing program that has delivered incredible results in a truly impressive timeframe,” Cohen said. “We fully expect the community to reach full occupancy this fall.”
The Nell also includes 130 for-sale townhouses developed by K. Hovnanian Homes.
Prism hits 50 percent leased milestone at new Dunellen rental property
