DUNELLEN, NJ — Prism Capital Partners has released the sixth and final residential building – containing the community’s remaining availabilities – at The Nell in Dunellen. With the finishing touches being put on The Nell’s commercial spaces as well, the redevelopment of the former Art Color industrial facility at 100 South Washington Ave. has come full circle.
Prism launched residential leasing at The Nell just eight months ago, and activity has been consistently robust. The first five apartment buildings are fully leased, with the sixth well on its way to lease-up.
“The Nell’s success reflects ongoing demand for multifamily in dynamic downtowns, as well as the wonderful sense of community that is developing here,” said Prism’s Robert Fourniadis, senior vice president, residential. “We continue to receive rave reviews on the quality of the homes and amenity spaces from residents and prospective residents alike. The time is right for people interested in The Nell to make a move – before it’s too late.”
The Nell’s 252 one- and two-bedroom residences feature nine-foot ceilings, open layouts, luxury plank flooring, chef-inspired kitchens and spa-like bathrooms. On-site conveniences include garage parking, smart lock entry, in-home washer/dryer, secured package room and indoor bike storage.
Central to its fresh take on modern living, The Nell’s clubhouse is highlighted by a state-of-the-art fitness center, yoga room, resident lounge and community kitchen. Outdoor amenities include a resort-style pool, landscaped courtyard, barbeques, a firepit, and a bar with televisions and lounge seating.
Prism’s Edwin Cohen, principal partner, credited the onsite leasing team – including the marketing directors’ Shanice Coull, Leo Loyo and Jamie Case – for their exemplary work. “They have crafted and executed a leasing program that has delivered incredible results in a truly impressive timeframe,” he said. “We fully expect the community to reach full occupancy this fall.”
The Nell’s free-standing retail building will offer essential services to both residents and the larger community. Tenants Blue Foundry Bank and Kessler physical therapy are gearing up for fall openings; the remaining retail space is ideally suited for uses such as an independent coffeehouse, restaurant or local convenience store. The Nell also includes 130 for-sale townhouses developed by K. Hovnanian Homes.
Nutley, NJ-based Prism Capital Partners is a leader in the redevelopment and adaptive reuse arena. The owner/operator’s current Garden State multifamily projects also include Avenue & Green in Woodbridge, Wonder Lofts in Hoboken and Edison Lofts in West Orange.