Blackstone 360 LLC
| Private | |
| ISIN | 🆔 |
| Industry | Real estate development Construction Design |
| Founded 📆 | 1996 |
| Founder 👔 | S. Airaj Hasan |
| Headquarters 🏙️ | , , |
Area served 🗺️ | |
| Members | |
Number of employees | |
| 🌐 Website | www |
| 📇 Address | |
| 📞 telephone | |
Blackstone 360 LLC, also known as “B-360,”[1] is a privately owned real estate development firm headquartered in Newark, New Jersey. Established in 1996 by S. Airaj Hasan[2], the firm has developed, owns and manages a portfolio of more than a million square feet comprised of 738 contemporary residences and more than 30,000 square feet of retail space. B-360's portfolio is valued in excess of $200 million.[3]
Formerly a general contractor and construction firm with an emphasis on bonded work[4], Blackstone 360 purchased its first property in East Orange in 2006, buying an abandoned 10 story shell at 141 S. Harrison St. from the city at auction for nearly $1.5 million.[5] The design, development, and construction processes included the structural steel and concrete expansion of the existing structure to yield 105 high end apartment units — increasing the building’s unit capacity by more than 40 percent.[6] In 2017, B-360 was named one of New Jersey’s 15 “top developers” by The Real Deal, New York Real Estate News.[7]
At the end of 2018, B-360 received approvals from the City of East Orange, New Jersey for the construction of its fifth and largest building to date. Known as Allure 260, the newest building will rise 18 stories, encompass 325,000 sq. ft. and contain 201 luxury residences.[8]
B-360 has been credited with playing a substantial part in the revitalization of East Orange, New Jersey. Remarking on the approval of a PILOT agreement for Allure 260, Daniel Jennings, director of policy, planning and development for East Orange, said “This is a major win for the city and the community. This property was an abandoned blight. Now, this new luxury high rise will be part of the renaissance of East Orange. B-360 has made a sustained commitment to the city of East Orange and this partnership, step by step, has helped build the road to revitalization— a road that other investors, including Goldman Sachs, are now happy to walk with us because they know the demonstrated value of East Orange and this administration’s commitment to its future.”[9]
References[edit]
- ↑ ROI-NJ, “B-360 gets $33M loan to build East Orange high rise,” by Emily Bader, https://www.roi-nj.com/2019/02/20/real_estate/b-360-gets-33m-loan-to-build-east-orange-luxury-high-rise/ February 20, 2019.
- ↑ The Real Deal, “Survival of the fittest: Building in the Garden State is a challenge even for the state’s most active developers,” by C.J. Hughes [https://therealdeal.com/issues_articles/survival-of-the-fittest-2/ June 05, 2017.
- ↑ New Jersey Business, “Amboy Bank Provides $33M Construction Financing for East Orange Luxury High Rise,” https://njbmagazine.com/njb-news-now/amboy-bank-provides-33m-construction-financing-for-east-orange-luxury-high-rise/ February 20, 2019.
- ↑ Blackstone 360 website, https://www.blackstone-360.com/ retrieved on February 26, 2019.
- ↑ NJBIZ, “Blackstone 360 granted PILOT approval for East Orange High Rise,” by Linda Lindner, https://njbiz.com/blackstone-360-granted-pilot-approval-for-east-orange-high-rise/ December 24, 2018.
- ↑ Real Estate NJ, “Developer drawing new renters to East Orange as it transforms city block by block” by Joshua Burd https://re-nj.com/developer-drawing-new-renters-to-east-orange-as-it-transforms-city-block-by-block/ October 2, 2017.
- ↑ The Real Deal, New York Real Estate News, “Survival of the Fittest” by C.J. Hughes https://therealdeal.com/issues_articles/survival-of-the-fittest-2/
- ↑ Commercial Observer, “Amboy Bank Provides $33M Construction Loan for NJ Luxury High Rise Property” by Cathy Cunningham https://commercialobserver.com/2019/02/amboy-bank-provides-33m-construction-loan-for-nj-luxury-high-rise-property/ February 20, 2019.
- ↑ Globe St. “Blackstone 360 Granted PILOT Approval for Fifth Luxury High Rise in East Orange” by Steve Lubetkin https://www.globest.com/2018/12/27/blackstone-360-granted-pilot-approval-for-fifth-luxury-high-rise-in-east-orange/ December 27, 2018.
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