Developer KV Realty LLC recently announced its 34-luxury unit project in downtown Little Falls, 44 Main, has reached 50 percent leased. The developer, who is working alongside Value Asset Management reached the milestone shortly after the building was officially opened.
“44 Main is the first upscale rental building to open in downtown Little Falls in a generation,” said Jack Linefsky, vice president of property management for Value Asset Management. “Judging by the high leasing velocity we’ve experienced thus far, there is clearly pent-up demand in this market for brand new homes in an amenitized, well-located building.”
Homes at 44 Main range from 750 to 1,200 square feet and start at $1,950. Resident amenities include a clubroom with a full kitchen, gaming tables and a full fitness center.
The property’s location, at the corner of Main and Maple Streets, has also contributed to the rapid success of the development, KV said.
“As a local developer and long-time residents of Little Falls, we took great strides to ensure 44 Main was a signature new residential address that the entire township can be proud of,” said John J. Veteri, a member of the development team. “The exterior was designed to blend seamlessly into the character and fabric of the downtown streetscape.
“We utilized recycled local brick to create the lower façade and replicate an old world feel in a modern and new building. We’ll also be adorning hallways with historic Little Falls images to pay homage to the township’s past and establish a small-town community environment within the building itself.”
The property is located in the center of Little Falls’ downtown and is less than 10 minutes from the NJ Transit line on Union Boulevard. There is also a NJ Transit bus service to Manhattan nearby, and the town’s proximity to Montclair appears to continue to attract tenants.
“No detail was spared in the creation of this building,” Linefsky said. “The development team drew on inspiration and design trends nationwide. From welcoming outdoor New Orleans French Quarter style light fixtures to reclaimed Wyoming wood plank walling in common spaces, there’s an attention to detail and warmth throughout 44 Main that can’t be matched by any of the area’s larger rental offerings.”