April 30, 2021
Diversified Properties Welcomes First Residents to 480 Flatz, Luxury Multifamily Property in East Rutherford, N.J.
Resident move-ins mark culmination of complex adaptive re-use project
East Rutherford, N.J. (April 29, 2021) – Diversified Properties, one of the region’s most experienced commercial real estate builders and owners, and joint venture partner, North Jersey Builders Group, announce they have welcomed their first residents to 480 Flatz, a four-story, 35-unit luxury multifamily building located at 480 Paterson Avenue in East Rutherford, N.J.
Since completing construction in February, the property has received strong leasing interest from residents looking for a new, modern living space in a highly walkable and convenient location.
Offering a unique luxury living experience in the heart of Bergen County, 480 Flatz is conveniently located between Routes 3, 17, and 21 and is just a short ride from the Meadowlands Sports Complex which features MetLife Stadium and the American Dream mall, and New York City. Receiving a Walk Score of 77, 480 Flatz’s location is categorized as highly walkable providing easy access to area amenities. Additionally, the property boasts easy accessibility to all the New York City metropolitan area has to offer via the nearby Rutherford and Wood Ridge NJ Transit stations that offer direct service to New York City.
“480 Flatz’s central location and premium finishes are truly what set this boutique building apart from the other apartments I was considering in the area,” said Paul M. Lee, 480 Flatz’s first resident. “I was searching for a luxury living experience without the exorbitant price tag and I’m happy I found 480 Flatz as it definitely offers the best value for the location and quality.”
Each of 480 Flatz’s 35 one, two and three-bedroom units feature designer kitchens outfitted with granite countertops and stainless-steel appliances as well as in-unit washers and dryers. Designed by Thomas J. Brennan Architects with engineering provided by MCB Engineering Associates and construction managed by Morris Construction Management, Diversified Properties’ affiliated construction management firm, 480 Flatz’s modern and well-appointed residential units are complemented by a contemporary exterior design as well as convenient, ample onsite surface parking and elevator service.
“With our first residents now settled in and calling 480 Flatz home, our vision for this complex, adaptive re-use project feels as though it has truly come full circle,” said Nicholas Minoia, Founder and Managing Principal of Diversified Properties. “We could not be more pleased to officially become part of the East Rutherford community and look forward to welcoming the rest of our future residents in the coming weeks and months.”
In addition to 480 Flatz, Diversified Properties boasts a growing portfolio of tri-state area multifamily communities including the recently completed 30 Court, a 58-unit ultra-luxury multifamily building in Morristown, N.J., as well as Summit Lane, a 188-unit luxury apartment community in Newburgh, N.Y., Summit Terrace, a 270-unit luxury apartment community in New Windsor, N.Y. and Summit Court in Union, N.J. where the first phase of 130 units is completed and stabilized.
For more information about 480 Flatz and available residential opportunities, please visit 480flatz.com. For property updates, follow 480 Flatz on Facebook at facebook.com/480flatz and Instagram at instagram.com/480flatz/.
About Diversified Properties
Diversified Properties is one of the region’s most experienced commercial real estate builders and owners with a diverse portfolio of high-quality, value-add assets throughout the northeast and a veteran team of real estate professionals. Diversified Properties leverages its entrepreneurial approach and multi-disciplinary in-house capabilities to capitalize on opportunistic ground-up development and redevelopment projects in key growth markets. Driven by a passion for building, Diversified Properties leverages its extensive hands-on experience to drive value and create spaces where businesses and communities can thrive.
Follow Diversified on Facebook at facebook.com/DiversifiedPropertiesLLC, LinkedIn at linkedin.com/company/diversifiedproperties, and Twitter at twitter.com/DivPropNJ.
For more on Diversified Properties, please visit https://www.diversifiedproperties.com/.