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28 Jun 2016

Ferry Plaza - Newark, NJ

Ferry Plaza on Ferry Street in the Ironbound Section of Newark, NJ is a shopping center near and dear to me. My development partnership, DKH Associates, was part of the team that developed Ferry P...

Ferry Plaza on Ferry Street in the Ironbound Section of Newark, NJ is a shopping center near and dear to me. My development partnership, DKH Associates, was part of the team that developed Ferry Plaza. Once we got the center leased, it stayed leased and with very little turnover. We sold a majority interest in the center to Urstadt Biddle Properties several years ago. They have been handling the leasing and management and have done a great job of  it.  Acme recently took over the Pathmark at Ferry Plaza.
I have a lot of memories about the development process here, but my favorite is at the ground breaking, the Mayor of Newark, Sharpe James, being a true politician, made sure to have a picture taken with my infant son, Ben. It's a very cute picture. I'll have to look for it.
The site had previously been an industrial site, and there were many old structures that were removed. The engineers were not entirely sure where all of the basements and underground pipes were, and to make the site stable enough, they used a process called dynamic compaction. A massive weight, I think it was two tons. was dropped repeatedly from a crane throughout the site to make it safe for the new structures. You could feel the ground shake when that weight dropped!
I was also particularly glad to be doing a Pathmark anchored development in Newark, as it was a return to my roots. My parents, my siblings and I were all born there, and my grandfather and father started their grocery store company in Newark, which eventually became Pathmark.
David Perlmutter is the author of the QuantumListing Blog and publisher of the QuantumListing App. He is also the owner of Perlmutter Properties Inc. in White Plains, NY.
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