Baraka, Paramount Assets welcome William Flats to Newark

Jessica Perry//December 11, 2018//

Listen to this article

The Paramount Assets’ project at 15 William St. is an adaptive reuse of the former United Women’s Garment Workers Union headquarters.

Situated between Teachers Village and the Prudential Center, Williams Flats features 37 multifamily rental units in addition to street-level commercial space, which has received commitments from 7-Eleven and Santander Bank, Elizabeth-based Paramount Assets said.

“In developing William Flats, our goal was to create a multifamily offering that complements the surrounding neighborhood and symbolizes the continuation of Newark’s revitalization,” Richard Dunn, senior vice president of Paramount Asset, said in a release. “We are proud that Newark will realize sustainable benefits from the transformation of this landmark property for many years to come.”

Carmelo Garcia, deputy mayor and chief of development for the city of Newark; Solomon Levy, chairman of Paramount Assets; Maurice Levy, principal partner of Paramount Assets; and Dunn joined Baraka at the ceremony.