540 Broad Street, Newark, NJ 07102
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.
Citi Community Capital and Goldman Sachs Urban Investment Group Will Provide Construction Financing.Read More
L+M Development will convert 540 Broad St. into a mixed-use tower with office and retail space.Read More