14B — October 30 - November 12, 2020 — Owners, Developers & Managers — M id A tlantic Real Estate Journal
www.marej.com
O wners , D evelopers & M anagers
Rental Apartments Blend Upscale Urban Living with Historic Charm Leasing underway at Paramount Assets’ Clinton Flats in Downtown Newark
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access. In addition, the buildings include a street-level retail component designed to offer neighborhood conveniences both for residents and the community. The United States Post Office currently occupies 2,500 s/f of commercial space at 40 Clinton. Ideally situated in Newark’s Downtown Commercial Busi - ness District, Clinton Flats offers proximity to the City’s premiere cultural, entertain - ment and dining destinations including the Prudential Cen - ter, the New Jersey Perform - ing Arts Center, the Newark Museum of Arts and Newark Symphony Hall. Residents can walk to Newark Penn Sta - tion, which has express train service to New York City, and Newark Liberty International Airport is a short car ride away. Commuters to Manhat - tan and other business centers throughout the tri-state area enjoy easy access to major highways, including I-78, I-280, the New Jersey Turn - pike and Rtes. 1 & 9. MAREJ
EWARK, NJ — Real estate investment firm Paramount As-
sets has transformed a pair of historic commercial buildings into Clinton Flats, the new - est multifamily mixed-use developments in Newark’s burgeoning downtown. Situ - ated off the corner of Clinton and Mulberry Sts., the luxury rental properties at 30 and 40 Clinton Street have been fully rehabilitated with beautiful new entrances, lobbies and interior spaces. “With leasing underway at 30 Clinton and construc - tion nearing completion at 40 Clinton, we are excited to see the neighborhood coming to life,” said Richard Dunn , senior vice president of Para - mount Assets. “Clinton Flats demonstrates our expertise in preserving the original beauty and character of his - toric buildings while infusing them with the amenities and conveniences that savvy rent - ers demand. And we are proud that the addition of 47 upscale rental units in two revitalized
Clinton Flats
downtown properties will pro - vide Newark with sustainable benefits for years to come.” Constructed in 1914, 40 Clinton is an eight-story, 18,800 s/f Gothic-influenced building with an architectur - ally distinctive exterior and 27 well-appointed one-bedroom, one-bathroom apartments.
The 13,800 s/f property at 30 Clinton, which was built in 1910, encompasses six stories and offers a mix of 20 studio and one-bedroom, one-bath - room units. Residents of Clinton Flats enjoy features such as high ceilings, hardwood floors, ce - ramic tiles, designer kitchens
with stainless steel appliances and Caesarstone countertops, and all-in-one washer/dryers. On-site amenities include a fitness center, lounge, tenant storage, state-of-the-art video surveillance and intercom system and secure building access. 30 Clinton also boasts a rooftop terrace with elevator
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