City of East Orange, N.J., August 20, 2020 – PEEK Properties (PEEK), a New Jersey-based urban-focused multifamily developer, owner and operator, is nearing completion of East Orange’s newest Class A apartment building at 475 William St., featuring 39 spacious one- and two-bedroom units. Redevelopment of the site, which previously housed a vacant building for three decades, is contributing toward neighborhood revitalization surrounding Brick Church Station.
“This initiative marks the continuation of our strategy to develop, own and operate upscale market-rate apartment properties near major train stations throughout New Jersey’s urban-core municipalities,” said PEEK Managing Partner Emanuel Klein. “Our pride in ownership is rooted in exceptional design and construction – including top-quality sound-proofing materials between floors and walls – to retain long-term curb appeal and property performance while also contributing toward neighborhood rebirth.”
Located at the corner of William Street and Ashland Avenue, the five-story midrise features a mix of 19 one-bedroom and 20 two-bedroom layouts with fully equipped kitchens that include dishwashers and spacious open-concept floorplans. Each apartment unit also has an individually controlled heating/cooling HVAC system, oversized windows offering abundant light and picturesque views, in-unit washer/dryer, and luxury vinyl-tile plank flooring.
In addition, on-premises community amenities include an all-glass façade modern lobby, 39 garage and paved-surface assigned parking spaces, a fully equipped first-floor fitness center with an all-glass exterior wall, bike storage room and dedicated secure package delivery area. There also is a second-floor tenant lounge with comfortable seating, a billiards table and entertainment area with a television.
Designed by Nastasi Architects in Hoboken, N.J., 475 William Street invokes modern elements with subtle historic characteristics that appeal to today’s tenant base. It is a five-minute walk to Brick Church Train Station offering direct rail service to New York City. Situated within East Orange’s Central Business District, the property is one block from Main Street’s local, regional, and national retailers. These include ShopRite, Walgreens Pharmacy, Rita’s Italian Ice, Domino’s Pizza and Investors Bank.
“We are extremely excited to approach the completion of our first joint-venture multifamily development project under the newly formed PEEK Properties entity and are eagerly looking forward to the lease-up process this fall,” said PEEK Managing Partner Phillip J. Evanski, who noted applications will start to be accepted in early October . Move-ins are expected to take place in October or November. More information is available at at www.475WilliamSt.com.
Evanski, founder of Equis Realty Partners, and Klein, founder of The Fountain Group, initially began collaborating in November, 2018 as part of a joint venture. Recognizing the synergy between the two companies, both Equis Realty and The Fountain Group merged to form PEEK Properties to advance their multifamily development, ownership and property management strategies throughout New Jersey. PEEK also is concentrating its efforts on several development sites located in Qualified Opportunity Zones. It currently has three property-specific Qualified Opportunity Fund projects underway.