Plainfield Cuts the Ribbon on Netherwood Flats, the 70-Unit Development Project on South Ave.

A ribbon-cutting ceremony was held Friday at Netherwood Flats, the new four-story development, and largest investment by the family-owned Paramount Assets, consisting of 70 one- and two-bedroom apartment units at 829 South Avenue in Plainfield. Paramount Assets Senior Vice President Richard Dunn said, “This is a culmination of a lot of people’s hard work.” He added there is “so much more to come from Paramount Assets and the City of Plainfield working together.”

Plainfield’s Netherwood Flats, The Mixed-Use, Transit-Oriented Redevelopment, Nears Completion

The first phase of Netherwood Flats will be available for occupancy in January, and the final phase will be completed in March 2023. Netherwood Flats has begun pre-leasing and is offering specials for residential tenants through February 28, 2023. Details and requirements can be found at Prospective residents can visit the onsite leasing office and see a model apartment at 829 South Ave. Call 201-858-8182 to schedule an appointment.

Paramount inks lease in Somerville with custard, yogurt chain

A frozen custard chain has opened its doors in downtown Somerville, under an 800-square-foot lease with property owner Paramount Assets. The franchise location is the latest among more than two dozen for the Duncansville, Pennsylvania-based operator, which sells frozen custard, frozen yogurt and other menu items.

14 murals transform Downtown Newark in first phase of public arts project

Four Corners Public Arts’ partners, supporters, artists and Newark residents recently celebrated the conclusion of the initiatives’ first phase, announced in July — a series of 14 murals that have transformed facades and surfaces on Treat Place and Beaver Street in the Downtown District.

Paramount Assets Brings Blink Fitness to Irvington

Blink Fitness had its grand opening of its newest Garden State location at 440 Eastern Parkway in Irvington. The newly renovated shopping center, known as Maple Spring Commons, is owned and managed by real estate investment firm Paramount Assets.

Paramount Assets acquires Newark property

Located in the University Heights area of downtown Newark, the properties offer adaptive reuse potential, according to Paramount Senior Vice President Richard Dunn.

Always Seeking Value

Paramount Assets intends to either convert the property into a mixed-use tower or preserve the historic buildings. The company is known to favor adaptive reuse projects in once-industrialized cities throughout New Jersey, having recently completed the conversion of another Newark asset situated at 2 Ferry St.

Blink Fitness opens at mixed-use site in East Orange

A new Blink Fitness has opened in East Orange, signifying a step forward for a mixed-use redevelopment underway in the city’s downtown Transit Village District. Paramount Assets purchased the 50,000-square-foot property located at 600 Central Ave.

Blink Fitness opens East Orange location

Paramount Assets and Blink Fitness announced the official opening of a new Blink Fitness location at 600 Central Ave. in East Orange. Paramount Assets said purchased the property in 2016.

Renovated Ironbound Plaza Fully-Leased in Newark, NJ

Ironbound Plaza is fully-occupied, less than a year after new owners began a full restoration and renovation of the limestone landmark at Two Ferry St., just across from Penn Station in downtown Newark, NJ.