Unite Here was created in 2004 by the merger of the Union of Needle Trades, Industrial and Textile Employees, and the Hotel Employees and Restaurant Employees International Union. The organization will renovate the newly acquired four-story building and relocate its headquarters from dual sites in New York City and Union City. St. Philips has already acquired and relocated to a 50,000-sf building on nearby Central Avenue.

"This is a very upbeat story for New Jersey's largest city," Goldman says. "It means additional private sector investment and jobs, and it also ensures the preservation of a fine building that is a century-old Newark landmark."

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