The shooting happened in a studio used to record music videos at 790 Clinton Avenue around 8 p.m.
The recording studio, Platinum Sound, is on the ground level of an apartment building, and sandwiched between a hair salon and a supermarket.
When police arrived, they found four men had been shot.
Namir Bynum, 20, was pronounced dead at the scene. A second victim, Osayuwamen Uyamu, 20, was pronounced dead at University Hospital just before 8:45 p.m.
The two other victims who were shot were taken to the hospital with non-life-threatening injuries.
One of the victims had been treated and released by Thursday morning.
The incident stemmed from an incident "between friends" on Wednesday, the studio, Platinum Sound NJ, wrote in a post on social media.
Referring to an unnamed victim, the studio said "keep bro in yall prayers! Dont blame him for none dat took place today," saying the shooting was a "a very misfortunate slimy situation," the studio said.
Essex County Prosecutor Theodore N. Stephens II said the shooting was "contained within that particular establishment."
"I think that the music, the city of Newark, in talking with the mayor, they are going to take a hard look at some of those establishments as they exist now," Stephens said. "The city of Newark is going to look at policing and perhaps regulating those institutions where some of that activity may be going on."
Anyone with information is asked to contact the Essex County Prosecutor's Office Tips Line at 1-877-TIPS-4EC or 1-877-847-7432.
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