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HFF Shops Around Landmark Apartment

NEWARK-The 560-unit property, near Broad Street Station, recently underwent a $2-million renovation.

By Alyson Grala | Updated on July 14, 2010

NEWARK-Holliday Fenoglio Fowler LP has been retained on an exclusive basis to arrange the sale of the Colonnade, located at 25 Clifton Ave. here. This landmark property was designed by noted architect Mies van der Rohe and consists of 560 units in one building with two towers sharing a common concourse. The high rise-style community has 160 studios, 200 one-bedroom, 160 two-bedroom and 40 three-bedroom units and is currently over 90% leased. The units range in size from 545 to 1,625 square feet and average 948 square feet. The concourse level was recently renovated for around $2 million. 

According to Christian M. Benedetto Jr., director of real estate services at Hopkins Sampson & Brown Real Estate Advisory Services, the asset offers “location, location, location. The building is across from Branch Brook Park, which was designed by Frederick Law Olmsted, designer of  New York City’s Central Park.” What’s more, he tells GlobeSt.com, “The location, pedigree of the architect of the building and the park make it Newark’s equivalent of Manhattan’s Dakota. The Colonnade is the Crown Jewel of residential buildings in Newark, and only one block from Broad Street Station”

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