Basketball Superstar turned businessman Shaquille O’Neal is part owner of a new 22 story, $80 Million high-rise apartment building that opened over the summer in his hometown Newark.
This high-rise is the first built in over 50 years and is close to New Jersey Performing Arts Center, and has a view of New York City. “It’s going down as the most historic building in Newark” O’Neal told Advance media. “It’s going to continue to beautify our city.”
Details: The 1 million square-foot building has 169 rental units with studios, one and two-bedroom apartments renting at $1800 to $2,895 per month. 60% of the units are currently rented out. It also has ground floor retail space, a co-working lounge, Amazon lockers, private dining room, and a sky deck, according to Realtor.com. Parking runs $150 per month.
O’Neal was inspired by a conversation he had with his mother 30 years ago about the city needing to renovated. Shaq’s building is the result of a public-private partnership between himself and Boraie Development, the Goldman Sachs Urban Investment Group, and the State of New Jersey. This Legend(O’Neal) is not done yet. He’s planning another collaboration to build a new $150 Million, 350-unit apartment complex as well. That building has been nicknamed, “House That Shaq Built.”