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News April 2018

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Newark’s Pavilion Apartments sell for $70.5 million

April 20, 2018

The Pavilion Apartments, a set of two identical 22-story apartment towers designed by Ludwig Mies van der Rohe in Newark, NJ, have sold for $70.5 million to Pavilion Towers LLC. The sale is the single largest of a multifamily property in Newark by more than $18 million. The Pavilion Apartments are part of the Colonnade Park Historic District which also includes Mies van der Rohe’s Colonnade Apartments. Completed in 1960, the market-rate apartment complex was part of a larger urban renewal program that was never fully realized. In 2014, all three towers were certified eligible for listing in the New Jersey Register of Historic Places.

“Pavilion Apartments sell for $70.5 million,” njbiz.com, March 16, 2018.
NJ Register of Historic Places nomination for Colonnade Park (see external links in wiki)

Photo: John W. Cahill—CTBUH
Photo: John W. Cahill—CTBUH