50 Rector Park is the first apartment tower to be built in Newark, NJ in decades. It was opened by former NBA superstar Shaquille O’Neal and Boraie Development. It cost $80 million and is 22 stories tall. 50 Rector Park is located beside the renovated Hahne & Co. building, which has a Whole Foods, and the New Jersey Performing Arts Center. It opened in the summer of 2019 and quickly had 60% of its units leased. In an interview with NJ Advance Media, O’Neal stated 50 Rector Park would become the most historic building in Newark. Among its amenities are rooftop cabanas, outdoor grills and a gym. Omar Boraie started 50 Rector Park is the type of place where it takes a complete commitment to see it through.
It took believing in the project, Newark, and Boraie Development’s private and public partners. 50 Rector Park has become colloquially known as “Shaq Tower.” Boraie Development and the NBA star are planning to build a $150 million, a 350-unit apartment tower in Newark. It will be located at 777 McCarter Highway. It is already known as the “House that Shaq Built.” After O’Neal left the NBA, he became a restaurateur, franchise owner and investor. He used to own 27 Five Guys Burgers and Fries locations. He now owns a Krispy Kreme Doughnuts location in Atlanta, GA. He created the fast-casual restaurant Big Chicken, which is located in Las Vegas. He’s also on the board of directors of Papa John’s. Read More.
