New Jersey
Recently Completed 135-Unit Development in Newark Listed for Sale | Jersey Digs
A mixed-use complex in Newark’s Ironbound neighborhood has already been put up for sale less than two years after wrapping up construction.
Matthews, a commercial real estate investment services and technology firm, recently listed Iron65 for sale at 59-65 McWhorter Street. The asset, exclusively listed by Matthews First Vice President & Director David Ferber and Associate Brendan Cina, is asking $56 million and is currently the only Class A building on the market in Newark.
Iron65 features 135 luxury residential units and one ground-floor commercial space, complemented by a full suite of high-end amenities. Perks at the property include a fully equipped fitness center with wet and dry saunas, a yoga studio, a rooftop social hub with outdoor kitchens, a game room, and a skyline spa lounge with New York City views.
“Iron65 is built for today’s core stabilized buyer, offering high-quality construction, a best-in-class amenity package, and durable, high-end finishes,” Ferber said. “With strong in-place rents, institutional-level construction, and favorable financing available in today’s market, this offering presents a compelling opportunity for core buyers seeking durable cash flow and long-term growth.”
The development is supported by a 30-year tax PILOT starting at 10%, with potential debt below 5%. Iron 65 is a quick walk from Newark Penn Station and adjacent to the city’s Downtown in a neighborhood that has seen several notable new residential buildings like Union 55 in recent years.
Matthews noted in their announcement that the Newark submarket continues to attract renters seeking quality housing with strong transit connectivity, and that Iron65 is supported by ongoing reinvestment and development momentum throughout Newark.
New Jersey
Severe Storms, Dangerous Heat Targets NJ Friday
“Dangerous heat is expected to continue across much of our region through today, with several record highs likely to be challenged again. High temperatures are forecast to peak into the low to mid 90s across most of the area,” the National Weather Service said Friday.
A Heat Advisory is in effect until 8 p.m. across the state except for Atlantic, Cape May, Cumberland and Salem counties.
New Jersey
New Jersey man sentenced to 6.5 years for fatal Lehigh Valley plane crash
PHILADELPHIA – Philip McPherson II, a 37-year-old from Riverside, New Jersey, was sentenced Thursday, June 11, to 78 months in prison for his role in a 2022 plane crash in Lehigh County that killed a student pilot, according to the U.S. Attorney’s Office, Eastern District of Pennsylvania.
Sentencing and charges for fatal Lehigh Valley crash
What we know:
United States District Judge John M. Gallagher sentenced McPherson to 78 months in prison, three years of supervised release, a $5,000 fine, a $4,300 special assessment, and $19,530 in restitution. Judge Gallagher also barred McPherson from working in the aviation industry.
McPherson pleaded guilty in October to involuntary manslaughter, conspiracy to commit wire fraud, obstruction of an administrative proceeding, and 40 counts of serving as an airman without a certificate.
The backstory:
Court filings show that on September 28, 2022, McPherson took off from Queen City Airport in Allentown as the pilot-in-command with student pilot K.K. and crashed shortly after, resulting in K.K.’s death.
Prosecutors said McPherson acted with gross negligence, knowing he was not competent to fly as pilot-in-command. He had two prior crashes, nearly a third, and failed a reexamination for his pilot’s certificate in September 2021.
McPherson voluntarily surrendered his pilot’s certificate in October 2021 and let his Temporary Airman Certificate expire in November 2021, acknowledging his inability to meet FAA standards.
He admitted to flying with passengers without a valid FAA pilot’s certificate between October 12, 2021, and September 20, 2022.
Investigators from the U.S. Department of Transportation Office of Inspector General, FAA, and Salisbury Township Police Department worked on the case, which was prosecuted by Assistant United States Attorney Robert Schopf and Special Assistant United States Attorney Marie Miller.
What we don’t know:
Authorities have not released further details about the circumstances leading up to the crash.
The Source: Information from the U.S. Attorney’s Office, Eastern District of Pennsylvania.
New Jersey
Historic South Jersey bell to ring Sunday to celebrate independence festival
From Camden and Cherry Hill to Trenton and the Jersey Shore, what about life in New Jersey do you want WHYY News to cover? Let us know.
On Sunday, June 14, a bell will ring at the Historic Olde Courthouse in Mount Holly, New Jersey, as part of a festival to commemorate the nation’s 250th anniversary.
In the summer of 1776, officials rang the same bell at the courthouse in Burlington City, the seat of Burlington County at the time, after the Declaration of Independence was signed.
The bell was moved to Mount Holly in 1796 when that city became the Burlington County seat.
Marisa Bozarth, Burlington County’s museum curator of history, said courthouse bells were rung in the 1700s to signify that something important was taking place.
“They would have rung it when there was a large court case of any significance, when the jury was coming back, so people knew to return to the courthouse to hear the verdict,” she said. “The bell was also rung any time there was any public reading of any sort of important document. It was their way to get the information out to the masses quickly.”
After the wording of the Declaration of Independence was finalized and the document was signed, every state received a copy so it could be shared with the people living there. At the time, some Burlington County residents wanted to remain loyal to Britain, while others supported the movement for independence, Bozarth said.
“I would think it was a bit of a scary time because when the Declaration of Independence was finally signed and then presented, it meant we were really going to war,” she said. “We were declaring our independence, but we weren’t officially an independent nation yet. It meant a scary time was coming because Britain wasn’t going to accept that and just let us walk away.”
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