Verizon/NJ Bell

540 Broad Street, Newark, NJ 07102

Property Type:

Commercial, In Development

Number of Units:


Property Size:

400,000 SF

Completion Year:


As part of L+M continued investment in Newark, L+M acquired the over 400,000 square foot building, and historic home to NJ Bell (subsequently, Verizon) at 540 Broad Street. Built in the 1920’s and a great representative design of architect Ralph Walker, this building, with its grand lobby and distinctive façade, is to be adaptively reused to support 265 mixed-income apartments, offices and ground floor retail spaces. Having acquired the property in May 2016 in a partnership with Prudential Financial, L+M looks to deliver for initial residential occupancy by late 2018.


L+M Development Partners and Prudential Financial Secure Financing to Transform Newark’s Historic New Jersey Bell Building into New Mixed-Use Project

Citi Community Capital and Goldman Sachs Urban Investment Group Will Provide Construction Financing.

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N.J. Bell Building in Newark to Be Redeveloped for Housing

L+M Development will convert 540 Broad St. into a mixed-use tower with office and retail space.

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Development in Newark's Verizon Building to Include Affordable Housing

A local office building that will be converted into apartments is slated to contain affordable housing.

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