Paramount unveils office to resi’ conversion in Newark

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Paramount Assets has officially opened Clinton Flats, a 47-unit
mixed-used redevelopment of two former office buildings in Newark.

Included in the National Registry of Historic Places, 30 and 40 Clinton have been fully restored with many original features, such as decorative lobbies, original mailbox system and copper windows, retained.

Eclipse Building

Constructed in 1914, 40 Clinton is an eight-story, 27,350 s/f
Gothic-influenced building. Formerly known as the Eclipse Building, it was home
to the original Seton Hall Law School. It now features 26 one-bedroom
apartments and one two-bedroom apartment. The US Post Office occupies a total
of 2,602 s/f on the ground floor.

The 20,250 s/f property at 30 Clinton, previously known as the Baldwin
Building, was built in 1910 and originally housed Newark’s Board of Education
and Teacher’s Union Benefits offices. Five stories of residential space,
totaling 17,900 s/f, features a mix of 20 studio and one-bedroom, one-bathroom
units. First floor retail space includes a total of 2,340 s/f, which is
currently being marketed for lease.

30 Clinton also boasts a landscaped, fully furnished rooftop terrace (pictured top) with elevator access and views of downtown Newark including Prudential Center and new Mulberry Commons Park.

“These adaptive
reuse preservation projects provide a unique living experience in the heart of
Newark’s vibrant downtown,” said Richard Dunn, senior vice president of
Paramount Assets.

“Paramount Assets is proud to offer another exceptional opportunity to live in a building of special historic significance so beautifully preserved. We are especially proud of our expertise and experience in this area, and the opportunity to preserve the beauty and character of these buildings, while contributing to the revitalization of this great city.”

Pictured here are (L-R): Maurice Levy, COO, Paramount Assets; Solomon Levy, Chairman, Paramount Assets; LaMonica McIver, Newark Central Ward Council Member; and Richard Dunn, Senior Vice President, Paramount Assets.

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