UNION CITY, NJ—New York-based Sun Equity Partners has acquired Silk Mill Lofts, a historic commercial complex dedicated to artist-work spaces in Union City, NJ just minutes from Manhattan.
The New York City-based real estate investment and development firm says it has started a multimillion dollar capital improvement program to upgrade the exterior, common spaces, building systems, and loft-style studios at the 125,000-square-foot property, which occupies a full city block from 39th-40 Street and has served as a flourishing artist refuge since the 1990s.
Sun Equity Partners purchased the landmark complex with the intent of providing existing tenants improved work environments and attracting new artists and commercial users from Hudson County, New York City and beyond, says Abe Tress, the company's director of operations. Silk Mill Lofts is currently 55-percent-occupied by practicing artists and creatives involved in visual arts, photography, sculpture, painting, glass works and more.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
