Posted by: cahncomm | January 26, 2012

WARREN LEWIS OFFICIALLY OPENS JADE 8 CONDOMINIUMS WITH ONE LUXURY PENTHOUSE ALREADY SOLD

JADE 8 CONDOMINIUMS

BROOKLYN — Jade 8 (www.jade8condos.com), an exclusive collection of just eight “Green” condominiums in Brooklyn’s fashionable Gowanus neighborhood, has opened its doors to the public with one contract already signed.

Interestingly, the initial sale at Jade 8 was for one of the most expensive homes in the cutting-edge, four-story building: a 1,475 square-foot Penthouse duplex, according to Warren Lewis Realty, the exclusive marketing and sales agent for the upscale offering of eco-chic residences which is located just steps from the subway and the hip restaurants, stores and artist studios that define this neighborhood.

The two-story penthouse residence features three bedrooms, two bathrooms, a spectacular upper-level master suite and 365 square feet of private outdoor space thanks to a huge deck off the master bedroom and separate terrace off the living and dining room.

The distinctive mix of homes at Jade 8 includes generous two-bedroom simplexes with private balconies, oversized one-bedroom garden duplexes, and another three-bedroom Penthouse duplex with balcony and expansive private deck. Residences range in size from 905 to 1,475 square feet at prices ranging from $725,000 to $1,150,000

“Selling one of our highest priced homes just as we’re officially launching the building demonstrates the appeal of Jade 8 and the level of confidence buyers are already expressing in this unique new residential building,” notes Aroza Sanjana, President of the locally-based Warren Lewis Realty. “The combination of dramatic living spaces, upscale finishes and appointments, advanced energy-efficient systems and materials, and a limited offering which translates to a more intimate lifestyle and a quicker sell-out, is already proving to be a winning formula.”

Located at 186 8th Street, Jade 8 is being developed by an experienced builder with two LEED-certified Brooklyn developments to his credit. Jade 8 was designed with an environmentally-sensitive approach to new construction. State-of-the-art Green construction techniques will allow residences to provide greater comfort and lower energy bills and include energy-saving features that make them significantly more efficient than conventional condominium homes.

Included in the healthier and more efficient lifestyle awaiting homeowners at Jade 8 are fresh air filtration systems via heat recovery ventilation (“HRV”), Low VOC paint, LED lighting, energy-efficient Loewen windows and recycled materials such as sound insulation for the floors and Caesar stone kitchen countertops.

The building’s rain screen façade insulates, ventilates and deflects moisture, while a “Green” roof further promotes drainage and cooling. Each residence also has high-efficiency heat pumps and A/C units, providing homeowners the option to purchase Green energy resulting in a zero carbon footprint. Kitchens are equipped with magnetic induction cook tops and convection ovens resulting in a cooler, more efficient cooking environment.

Designed by Sears-Tambasco Architects, Jade 8 features a striking exterior notable for its smooth orange and light grey façade with contemporary windows and upscale accents and details — a modern interpretation of traditional Brooklyn architecture. The common Green roof is currently being planted and will provide residents additional shared outdoor space.

“Residents of Jade 8 will enjoy all of Brooklyn’s unique and exciting appeal, including a vibrant selection of galleries and restaurants and the classic urban feel of a factory-filled neighborhood reclaimed by entrepreneurs and artists.” says Virginia Hunter, VP, Associate Broker at Warren Lewis Realty.

For more information on Jade 8, please call 347-868-6988, or visit the website at www.jade8condos.com.

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About Warren Lewis Realty

Warren Lewis Realty has been specializing in the Brooklyn real estate business since 1987, expertly helping clients to sell, buy and rent houses, co-ops and condominiums in Park Slope and throughout the borough. The agency currently employs 23 sales and leasing agents who average over a dozen years of experience each and are all more than qualified to provide clients with the best service available. For more information, call (718) 638-6500, or visit the website at www.warrenlewis.com.

 

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Posted by: cahncomm | January 25, 2012

CRYSTAL POINT ON JERSEY CITY’S WATERFRONT SAVES THE BEST FOR LAST

With Nearly 90% Of Its Upscale Residences Sold And 246 Homes Closed 42-Story Condominium Releases Premium Condominiums

JERSEY CITY, N.J. – Crystal Point on Jersey City’s Hudson River waterfront has unquestionably saved the best for last.

With nearly 90% of its homes sold and 246 homes closed, the fast selling 42-story building has released a new selection of premium condominiums that represent some of its finest opportunities to date, according to Brian Fisher, president of Fisher Development Associates, which is developing the collection of 269 residences.

The homes, which are priced from the upper $500,000s, provide the added advantage of immediate occupancy dates, meaning homebuyers can enjoy their new upscale urban lifestyle just weeks after signing a contract. Available residences include spacious one- and two- bedroom homes, including Penthouse condominiums, with incredible unobstructed views of the New York City skyline or the rolling New Jersey hills.

“We’re on the verge of completing one of the most successful sales programs in Hudson County in recent memory,” Mr. Fisher says. “However, fantastic purchasing opportunities still remain.

“Each of the available condominiums offers the same attributes that continue to make Crystal Point the preferred choice of today’s homebuyers, with unprecedented value, luxurious living spaces, five star amenities and sought-after direct waterfront location. Best of all, those who act quickly and purchase now can be residing in this spectacular building just in time for the spring season.”

Interested purchasers who want to experience all that Crystal Point has to offer first hand can now see two new professionally decorated model homes which include a spectacular two-bedroom Penthouse with unrivaled views of the Hudson River and Jersey City and a well-appointed one-bedroom model home.

Situated on the soaring 41st floor, the 1,526 square-foot Penthouse has been designed to maximize Crystal Point’s incredible, unobstructed views of the New York City skyline stretching from downtown Manhattan to the Verrazano Bridge with floor-to-ceiling windows, living room with dramatic panoramic vistas of the surrounding landscape, stylish dining area and open kitchen.

Homes at Crystal Point range from 800 to 1,586 square-feet and offer an array of premium finishes. Residents also benefit from an on-site concierge and round the clock on-site valet parking. Homes are made even more attractive thanks to a 30-year tax abatement that has been granted to the building.

“Floor-to-ceiling windows drench the homes in natural light and many of the residences offer riverfront balconies,” notes Adrienne Albert, CEO of The Marketing Directors, Inc., the building’s marketing and exclusive sales agent.

“Many kitchens boast Italian Pedini wood and glass cabinetry, sparkling quartzite counters, under-cabinet task lighting, full height pantries, islands with breakfast bars and a full Jenn-Air appliance suite. Each residence also has SMART home technology capabilities and a full-sized washer and dryer.”

Created by the renowned New York City architectural firm Gruzen Samton LLP, the distinctive design of the landmark Crystal Point building maximizes its unrivaled waterfront location and creates homes with modern, open and furnishable living areas.

“Unlike many high-rise developments which often seem cavernous with long hallways, we split the Crystal Point plan in half with elevators positioned in the middle of the residential floors to create short corridors and provide the building with a very intimate feel,” says Jordan Gruzen (FAIA) of Gruzen Samton.

“We utilized multiple façade planes to break the building‘s mass up and ensure that every home has magnificent views. From the moment you open the front door of each home, you are aware of the views and the light. The layouts of the homes themselves often create large square rooms and sprawling living spaces that are open, airy and extremely functional.”

The lifestyle that separates Crystal Point can be seen in its Manhattan-style amenities. Outside, residents enjoy an expansive outdoor deck of over ten thousand square feet overlooking the Hudson River on the building’s sixth-floor, featuring a sparkling pool, giant hot tub, private cabanas (there are cabana style dinning areas, but not actual cabanas) and lounge chair seating, as well as two BBQs and dining area, fire pit and a children’s play area.

Indoors, there’s five-star amenities including the Crystal Spa with a thermal bath, sauna, steam and treatment rooms, a yoga/aerobics room, state-of-the-art fitness center, lounge with flat screen televisions, game room with billiard and poker tables, children’s play room and a screening room within the Crystal Club.

The award-winning Crystal Point building has been recognized as the ULI-NNJ’s 2010 “Project of the Year” and last year received the Gold Award for “Community of the Year” from the National Association of Home Builders.

Crystal Point is conveniently located between the Paulus Hook and Newport sections of Jersey City and steps from PATH trains at both Exchange Place and Newport with direct access into New York City and a Light Rail station.

For additional information on Crystal Point, please call 201-433-7778 or visit www.crystalpointcondos.com.

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Posted by: cahncomm | January 25, 2012

HOMEBUYERS FIND INCREDIBLE VALUE AND SAVINGS WITH SPECIAL PROMOTIONS AT THE VILLAGES AT TIMBER OAK

DANBURY/BETHEL, CT. – When Baker Residential says it aims to offer the highest value to its customers, it’s not just referring to the incredible pricing, quality construction and magnificent interior designs offered at The Villages at Timber Oak, the collection of townhomes and duplex residences in the Fairfield County towns of Danbury and Bethel.

The developer has also introduced a number of special limited-time incentive programs that allow buyers to unquestionably receive the most home for their money by providing designer upgrades at no extra charge.

First and foremost, interested purchasers who visit the sales and model can receive a complimentary stainless steel kitchen appliance package. This special incentive includes a GE Profile refrigerator, under cabinet mounted microwave, dishwasher and oven with gas range installed in new homes for free when in contract by February 29th, 2012. Please contact a Sales Representative for details. Certain restrictions apply.

There’s also a free finished basement incentive that adds a considerable amount of living space to the already expansive floorplans at The Villages at Timber Oak. The unique offer provides extreme flexibility with space that can be used for a home office, personal fitness area, children’s playroom or media center. Homebuyers can even select added features such as surround speakers or HDMI outlets to help create their dream entertainment space and home theater.

Best of all, these incentives are being offered on the limited number of “Quick Delivery” homes available at the community. These immediate occupancy residences feature the added benefit of move-in dates shortly after signing a contract, meaning homebuyers receive all the joys of new construction — builder warranty, all new mechanicals and beautiful finishes like granite countertops and hardwood floors –without having to wait the typical 9 to 12 months for construction.

“These new programs are redefining people’s expectations about value by offering even more of today’s most desired luxury new home features all included in one price,” says Sales Representative Robin Bonato. “Buyers recognize that by purchasing at Timber Oak, they can enjoy exceptional savings and receive upgrades at no extra charge and in one convenient, well-thought-out package.”

The Villages at Timber Oak is currently offering its fourth and final townhome phase which includes impressive layouts that range from 1,491 square feet to 1,912 square feet of living space and boast two to three bedrooms and two-and-a-half baths. These townhome residences are currently available at a tremendous value thanks to outstanding pricing from the low $300,000s.

Priced from the low-$400,000s, the final offering of duplex residences can be found in the desirable Bethel section of the community. These gracious homes feature 2,200 square feet of living space with three bedrooms, two-and-a-half baths, two-car garage plus extra square footage in a finished basement.

The Villages at Timber Oak – which has been approved by the Federal Housing Administration (FHA) to offer qualified homebuyers loans requiring as little as 3.5% down — features home designs that provide something for everyone, whether its young couples and families looking to purchase their first home or empty-nesters hoping to downsize from large single-family residences to a more maintenance-free lifestyle.

Upon entering The Villages at Timber Oak, guests and residents are captivated by the community’s appearance which evokes that of a small New England-style neighborhood. The community’s impressive entry features a welcoming boulevard that leads to an expansive center park and gazebo enhancing its suburban, small-town feel.

“Residents enjoy the convenience of having a state-of-the-art clubhouse onsite,” says Jill Stinson, another Baker Sales Representative. “This impressive facility features a furnished great room with cathedral ceiling and massive stone fireplace and a fully equipped exercise center which is available for resident use year round. A spectacular outdoor pool and tennis court further add to the community’s charm.”

Residents are also pleased to know that The Villages at Timber Oak is conveniently located to the many business, entertainment and cultural delights of New York, Hartford and New Haven. The community is mere minutes from the shopping opportunities found in the Danbury City Center and close by shopping malls.

Commuting is made easy with access to a variety of major thoroughfares such as Interstate 84 as well as mass transportation options at the Danbury and Bethel Railroad Stations.

For more information on the community, please visit the website at http://NewHomes.Timber-Oak.com or contact the sales office at (203) 739-0610.

The sales center is open daily 10:00 AM to 5:00 PM. To visit from Route 84 E or W Take Exit 3 and follow signs for Danbury Airport. At end of exit ramp make left at light. Next light make left onto Wooster Heights. Follow to stop sign and make right onto Southern Blvd. Follow to 2nd stop sign and make left onto Mountainville Ave. Follow to end and make right onto South Street (RT 53S). Follow 53S to Bainbridge blvd on right.

 

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Posted by: cahncomm | January 25, 2012

SALES OPEN WITH A BANG AT THE GROVE AT NEW WINDSOR

NEW WINDSOR, N.Y. – Homebuyers seeking proof the Orange County, N.Y real estate market is once again on the rise can look no further than The Grove at New Windsor.

The exclusive collection of townhomes has made its much anticipated Grand Opening in this historic Hudson Valley town with an amazing 25 homes sold during its preview period alone, according to Baker Residential, which is developing The Grove at New Windsor on the site of the former Stewart military base.

Offering spacious two- and three-bedroom homes at introductory pricing as low as $220,000, The Grove’s immediate success translates to one of the most notable sales openings in Orange County in recent memory.

“New York City residents flocked to Orange County in the late 1990s and early 2000s where they could purchase affordably priced homes in distinctly suburban environments just a short commute to friends, family and work centers in the five boroughs,” says Sales Representative Ashley Young.

“We’re now experiencing a similar boom as market driven pricing, historically low interest rates and builder incentives are making homeownership in Orange County an attractive option to renting in New York City. This has certainly spurred early activity at The Grove which has recorded a considerable number of sales from former New York City residents opting for the value, luxury and appeal of these well-designed townhomes.”

Commuter convenience is ideal at The Grove at New Windsor which is near Interstate 84 and the New York State Thruway. A variety of mass transit options are readily available including the Metro North and NJ Transit rail service and CoachUSA operated bus service. Those flying out of or into the area will enjoy the ease that comes with having Stewart International Airport close by.

The Grove’s ideal location has put it just a short distance from New Windsor’s many retail offerings which include a variety of boutiques and shops and street fairs and outdoor flea markets in the warm weather months. Those looking for a grander shopping experience will be pleased to find the Woodbury Commons Mall, with over 200 specialty shops and outlet stores, only a few short miles away.

Two and three-bedroom homes range in size from 1,500 to 2,500 square feet and boast bright and open floorplans with designer features found throughout the kitchen, baths and living areas ; including luxurious master suites with vaulted ceilings, walk-in closets and private bath with double vanity, stall shower and soaking tub and gourmet kitchens with center islands. There’s also one and two car garages, private deck or patio and many homes with finished basements included.

To ensure homebuyers find the perfect housing design for their lifestyle, Baker Residential is bringing some of the most popular layouts from its surrounding residential communities to The Grove. There will also be a select number of brand new townhome designs available at the neighborhood.

“Construction is underway on new model homes at The Grove which will vividly illustrate the magnificent interior design of these residences,” Ms. Young points out.

Residents at The Grove will enjoy an active and social lifestyle from the day they move in thanks to an existing 4,100 square-foot clubhouse which offers a host of amenities including a state-of-the-art fitness center, game room, residents lounge, outdoor swimming pool, tennis court and deck/patio which offers commanding views of the surrounding mountains and landscape.

Nestled in the historic Hudson River Valley, The Grove at New Windsor boasts a country-like atmosphere with panoramic mountain views. The community is within close proximity to the area’s many cultural, entertainment and recreational attractions, which include performing arts venues, historical attractions and a host of state parks and outdoor activities.

For additional information on The Grove at New Windsor, please call 914-461-9205 or visit www.groveatnewwindsor.com.

In addition to The Grove at New Windsor, Baker Residential is currently putting the finishing touches on its sales program at Woodside Knolls at Wallkill, the collection of townhomes and single-family residences minutes from The Grove. Less than 5 townhome are all that remain available for sale at the fast selling-community. The residences – which provide the unique advantage of immediate occupancy dates – are being offered at special close-out pricing from $290,000s. For more information on Woodside Knolls, please visit http://NewHomes.WoodsideKnolls.com or call 845-343-3001.

 

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Posted by: cahncomm | January 24, 2012

CONSTRUCTION OF NORTH SIDE RESIDENCES AT VIZCAYA NEARS COMPLETION

Vizcaya, the luxury gated community in West Orange

WEST ORANGE,N.J.– Officials from Millennium Homes announced today that the long-awaited north side residences at Vizcaya, the luxury gated community inWest Orange, are open and available for occupancy this month. The opening of the north side residences marks the completion of construction on the main building of Vizcaya, which has been one of the most exciting luxury residential options in New Jersey since opening in April 2009.

Thanks to a brisk sales pace during the pre-construction period, the available residences are in high demand. However, a wide variety of floor plans still remain available. Home buyers who’ve visited Vizcaya in the past will find the lobby now includes both north- and south-facing hallways leading to the Residences and Penthouses, as well as the Grand Salon with a western exposure that leads to the community’s expansive terrace.

“Our mission to create a true luxury residential community in one of suburban New Jersey’s most desirable locations is nearly complete,” said Lisa Macchi, Vice President of Sales and Marketing at Millennium Homes, the Developer of Vizcaya. “Vizcaya is already regarded as one of the best places to live in New Jerseyand as always, we’re committed to making it even better, day in and day out. Buyers recognize our commitment to providing the residents of Vizcaya with a highly-amenitized, upscale lifestyle and they’re responding to it. Recently, we’ve been seeing a lot of interest in the new north-side Residences and Penthouses, as well as the Maisonettes, which allow residents an extra measure of privacy, but are still attached to the main building.”

The Residences at Vizcaya are known for their lush interior spaces and breathtaking views of the peaceful, tree-lined landscape of western Essex County. Homeowners enjoy richly-appointed great rooms, gourmet kitchens and exceptional master-suites with spa-inspired baths. Residences come in a variety of designs and feature two or three bedrooms, two or three baths and between 2,501 and 2,662 square feet of living space priced from $825,990.

Vizcaya’s European-inspired architecture and striking exterior details distinguishes it from New Jersey’s other exclusive gated communities. The building incorporates a charming stone façade with gleaming white trim, stylish railings, rows of bay windows and elegant dormers. Views from the Residences and the Penthouses are complemented by the building’s location within the Vizcaya estate: high atop the ridgeline overlooking manicured gardens, landscaped walking paths and an opulent outdoor pool. Charming townhomes surround the main building, giving the property the air of a palatial country manor.

Since sales of the Residences and Penthouses on the south side were sold-out at a record pace when the building first opened, the opening of the north side of the building gives buyers one last chance to own a home in the main building, near all of the amenities and white glove services Vizcaya is famous for.

Popular amenities include Vizcaya’s spa, sauna, steam room, massage rooms, fitness room, yoga/aerobics room, tennis court and heated indoor and outdoor pools. Community game rooms, parlors and terraces in the main building provide residents with hours of additional entertainment.

Residents also enjoy 24-hour access to a concierge, gated security and complimentary valet parking for themselves and their guests. The concierge consistently goes the extra mile, helping residents with everything from dinner reservations to dry cleaning. Residents who choose to travel frequently or leave for the winter can enjoy a stress-free vacation knowing that their home will be safe and the concierge is only a phone call away if they need anything.

Vizcaya is located in the picturesque, hilltop town ofWest Orange, a short drive away from several gourmet restaurants, local shops, boutiques, parks and entertainment venues. The acclaimed Paper Mill Playhouse and the Short Hills Mall are both nearby. The South Mountain Reservation and Turtle Back Zoo are less than five minutes away. Recreational opportunities abound with municipal and county parks, private and public golf courses, and preserved natural woodlands found throughout the 12-mile town.

Manhattan is a short, 30-minute car ride away, while New Jersey Transit rail stations are nearby in Millburn andSouth Orange.

For more information or to schedule a tour, please call (973) 325-6712 or visit Vizcaya’s website at www.vizcayanj.com. The Sales Center is open daily by appointment from 11 a.m. to 5 p.m., six days a week (closed on Thursday).

To Visit Vizcaya

Take GSP North/South to Exit 145. Follow signs to Rte. 280 W. Take Rte. 280 W to Exit 6A (Laurel Ave. S). Follow exit around onto Laurel Ave.  After 1/4 mi bear left onto Shrewsbury Dr. Follow Shrewsbury Dr. 2.5 mi to 2nd traffic light (Northfield Ave.). Make left ontoNorthfield Ave.and proceed to 2nd traffic light (Vizcaya/JCC). Make Left ontoVizcaya Blvd.and follow up hill to Sales Pavilion on left.

About Millennium Homes, a Division of BNE Real Estate Group

Millennium Homes, a division of BNE Real Estate Group, has been dedicated to building quality homes that reach the highest industry standards for design.  For more than 50 years, BNE Real Estate Group has been building communities nationwide.  Whether apartment residences, condo flats, town homes, single family or homes for active adults, BNE Real Estate Group understands the elements that make a development a true community.  BNE Real Estate Group has envisioned and completed over 100 communities that stretch from New Jersey south to Florida and west to Texas and California.

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Posted in Metrovest Equities | Tags: , , , ,

Posted by: cahncomm | January 20, 2012

Home sales at 11-month high

via Lucia Mutikani/REUTERS

WASHINGTON (Reuters) – Sales of previously owned homes rose to an 11-month high in December and the supply of properties on the market tumbled to a near 7-year low, pointing to a nascent recovery in the housing market.

The National Association of Realtors said on Friday existing home sales increased 5 percent month over month to an annual rate of 4.61 million units.

November’s sales pace was revised down to a 4.39 million-unit pace, previously reported as a 4.42 million-unit rate.

Economists polled by Reuters had expected sales to rise to a 4.65 million-unit sales pace. Sales in December were up 3.6 percent from a year ago. A total of 4.26 million homes were sold in 2011, up 1.7 percent from the prior year.

“A sector of the economy that has been a large weight on growth has started to stabilize over the last few months and we will continue to look for momentum in 2012,” said John Doyle, currency strategist at Tempus Consulting in Washington.

The third straight month of gains in sales added to hopes that a tentative recovery in the housing market was starting to take shape, but progress will be painfully slow given a glut of unsold properties that is weighing down on prices.

Data this week showed single-family home starts rose for a third straight month in December and optimism among builders this month was the highest in four-and-a-half years.

But the sector, responsible for the 2007-09 recession, remains challenged by an oversupply of homes amid an 8.5 percent unemployment rate. In addition, declining prices have left many Americans with homes that are worth less than their mortgages.

But there are tentative signs of improvement. There were 2.38 million unsold homes on the market last month, the fewest since March 2005. That represented a 6.2 months’ supply at December’s sales pace, the lowest since April 2006, and compared to 7.2 months’ supply in November.

However, the inventory of unsold homes tends to decline in winter. A supply of 6 months is generally considered as ideal and anything above indicates further declines in house prices. The median sales price fell 2.5 percent to $164,500 from a year ago.

Sales last month rose across all four regions, with gains in both the multifamily home and single-family home segments.

Single family home sales rose 4.6 percent, while multi-family dwellings advanced 8.7 percent.

But the road to recovery will be bumpy. Distressed properties, foreclosures and short sales which typically occur at deep discounts, accounted for 32 percent of overall sales last month, little changed from November.

A third of pending existing home sales contracts were canceled, the NAR said.

 

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Posted by: cahncomm | January 16, 2012

HORNROCK PROPERTIES ANNOUNCES PLAN TO ACQUIRE $125 MILLION WORTH OF REAL ESTATE OVER NEXT 12 MONTHS

NJ-Based Company Makes First Move into Metropolitan New York Market By Acquiring Home Sites in Gated Hudson Valley Community

The Hornblass Brothers

PARAMUS, N.J. – While many real estate development companies are sitting on the sidelines waiting for the full recovery of the housing market, HornRock Properties, a rising development company just a few years old, sees opportunity and is using the foresight and vision of its two young-but-seasoned principals to take advantage of current conditions and gain a strong foothold in the mid-Atlantic region.

The Paramus, N.J.-based developer of residential and commercial properties has launched an aggressive acquisition program to significantly expand its portfolio in the Northeast and will look to acquire $125 million worth of real estate within the next 12 months. In alliance with Ontario-based developer Fieldgate Homes, HornRock Properties will pursue a variety of residential, commercial and mixed-use projects, with a focus on the New York/New Jersey urban and suburban markets.

The bullish acquisition philosophy of HornRock’s two principals – brothers Maurice and David Hornblass – certainly bucks the trend for many real estate developers who have scaled back investment strategies or delayed new opportunities and is an enterprising approach in today’s sluggish market.

“We’re well-positioned to move on viable opportunities concerning various asset classes, including condos, rentals, single-family, multi-family and distressed assets,” said David Hornblass. “Our alliance with Fieldgate Homes, one of the most successful and respected developers in the Canadian market, enables us to draw on significant financial resources to close deals quickly, without banks or other traditional lending sources.”

HornRock has assembled a distinguished team of acquisition, architecture, construction, management and marketing professionals to help meet its objectives and address challenges and opportunities during all market cycles and in all elements of the real estate development process.

HornRock has already completed its first acquisition with the purchase of home sites in a 450-home development in Central Valley, NY. Construction has commenced on the sites, which will feature expansive single-family homes and panoramic mountaintop views in a new residential neighborhood named HighPointe at Woodbury Junction. The community has quickly garnered the attention of the real estate industry recently being honored with a Silver Award from its peers at the National Association of Homebuilders.

“We have a long-term outlook on the market, so we’re leveraging our access to capital to gain a strong foothold in the northeast marketplace and complete projects quickly and efficiently,” notes Maurice Hornblass.

“We’re currently in discussions with representatives of the real estate community, development community, lending community, law firms and other real estate service providers to help us identify viable opportunities ranging from ground-up construction to redeveloping or repositioning assets. We focus on making the right deals and have the resources to close, an important ingredient in this market place.

“Sellers also appreciate that we’re fully committed to every project and are confident in our proven ability to complete various types of development activities, ranging from buying a piece of raw land, rezoning it and building it out to finishing a project that’s already 70 % complete. Our philosophy remains that as long as financial and market feasibilities make sense, we’re willing and ready to move forward on intelligent investment opportunities.”

Presently, HornRock Properties is negotiating a number of transactions that are expected to be completed in 2012.

For more information on HornRock Properties, visit www.HornRock.com or call 646-666-3888. For more information on HighPointe at Woodbury Junction, visit www.HighPointeWoodbury.com.

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Posted by: cahncomm | January 13, 2012

Jersey Shore Facelift

via gb&d/Interview by Suchi Rudra

 

 

Pier Village and the Bungalow Hotel, Ironstate Development’s latest high-end revitalization project, tempts travelers and residents with a boutique hotel and more than 500 luxury rentals

Beneath the luxurious design and natural materials of the Bungalow Hotel, developed by Ironstate Development and designed by Sixx Design, are numerous sustainable elements, including a high-efficiency, ductless heating-and-cooling system. Photo: Matthew Williams.

Stretching along the oceanfront in Long Branch, New Jersey, is a new luxury playground for locals and celebrities alike. Pier Village, a $400 million mixed-use community by Ironstate Development, is a massive reclamation project for the real-estate-development firm, and it features 536 luxury rental residences plus a boutique hotel, the Bungalow Hotel, which has a playful beach-chic interior and 24 guest rooms. Ironstate principal Michael Barry shared with gb&d his thoughts on the significance and the challenges of going green in the hospitality market.

 gb&d: Can you explain how Pier Village works as a massive reclamation project and as part of an urban-revitalization project?

 Michael Barry: The single most important feature in a sustainable project is site selection. This project has many of the desirable features, which include location within a half mile of rail transportation, access to bus routes and public transportation, walkable streets, amenities, existing infrastructure, an existing urban setting, and a need for revitalization.

 gb&d: How does this development combat unnecessary sprawl?

 MB: Density and location. This project takes advantage of an existing developed piece of property with low-density housing and introduces vertical construction in an established neighborhood.

 gb&d: Talk about the difficulties of obtaining LEED certification for hospitality design. Why does LEED not always come into play with these types of projects?

 MB: Building LEED sometimes means you need to make changes from the norm. Getting guests comfortable with some of the operational aspects of LEED can be challenging. Asking guests to change their habits can sometimes be daunting. But we feel that the general sentiment, as in our residential product, is that green is beneficial and the way of the future.

 gb&d: Can you talk about the sustainability goals behind the Pier Village development?

 MB: As an owner and operator of apartments, not only in Long Branch but across the state of New Jersey, we recognize the need and value of creating sustainable buildings and projects. Our clientele is very sophisticated and values the benefits of living in green environments. So for us it’s very important to address these concerns to be competitive in the marketplace.

At the Bungalow Hotel in Pier Village, one of the most important strategies was energy efficiency. A number of measures were implemented for the Bungalow, which started with the HVAC system, which utilizes a ductless split system with incredibly high efficiency ratings, environmentally neutral refrigerants, high operator control, and seamless integration with the design. The hotel units also incorporate large areas of glass for daylighting, virtually eliminating the need for artificial lights during the daytime. In the Pier Village residential buildings, we are examining modifying the light fixtures in the garage and common areas and exploring the use of LED lighting and motion sensors. We are also working on a company-wide plan to reduce water-bottle usage by providing tenants with in-faucet water filtration.

READ MORE >>>

 

 

 

 

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Posted by: cahncomm | January 13, 2012

SUMMERFIELDS IN SOMERSET COUNTY’S FRANKLIN TOWNSHIP SOLVES THE QUESTION OF “OWN VS. RENT

SOMERSET COUNTY, N.J. – The age old question of “own vs. rent” is being solved for many young professionals and growing families at Summerfields, a collection of non-age restricted, Energy-star single-family homes in the prestigious Somerset section of Franklin Township.

The suburban neighborhood has recently completed an incredible sales year, drawing heavily from renters in luxury residential buildings on New Jersey’s Hudson River “Gold Coast” looking to take advantages of the many benefits of homeownership, yet remain within close proximity to the area’s major urban areas.

“Several factors have contributed to make this community a desirable choice for first-time homebuyers,” says Sales Manager Sally Christie. “Affordable pricing starting from the $300,000s combined with historically low interest rates making monthly mortgage payments comparable to what many are paying in rent at high-end apartment buildings from Ft. Lee to Jersey City.

“Add in the considerable space offered in these homes, a suburban location in one of central New Jersey’s most sought-after Townships and the expected appreciation of their home value and it’s easy to see why so many are deciding to invest in a new residence and lifestyle at Summerfields.”

The trademark of Summerfields has been its high level of activity with nearly 70 homes sold since last spring. In addition to its strong sales pace, the community has also recently begun welcoming its first residents, meaning the transformation into a lived in neighborhood is well underway.

“We’re also completing two new models, the Essex and Sussex,” says Ms. Christie. “We expect these to be fully decorated and open within the next two months. Once completed, these homes will join our existing merchandised Mercer model to provide visitors a comprehensive look at the exceptional living spaces, dramatic elegance and considerable value found in each Summerfields home.”

Summerfields features three- and four-bedroom residences developed under strict guidelines set by the U.S. Environmental Protection Agency. The homes include energy-saving features that make them environmentally-sensitive and significantly more efficient than typical homes while providing greater comfort and lower energy bills.

Seven single-family designs are offered at Summerfields, including the Sussex, a four-bedroom, 3 ½ bath design that includes a first-floor master bedroom or “in-law” suite. Homes range from approximately 2,000 to approximately 3,400 square-feet of space.

In addition to the magnificent homes, residents of this quaint neighborhood will benefit from on-site recreational and social amenities, including an optional clubhouse facility with fitness center, outdoor pool and tot lots, as well as walking and biking paths.

“Homeowners will also have the added benefit of residing in Somerset County which includes some of the state’s most treasured natural recreational resources, including the historic Delaware-Raritan Canal where activities such as fishing and canoeing can be found,” says Ms. Christie. “And there are several other leisurely-pursuits available at Somerset County’s many golf courses, gardens, museums, art exhibits and parks including Colonial Park located right in the Summerfields neighborhood which includes a 1.4 mile fitness paracourse, three fishing ponds, softball field and the Lois Howe Nature Trail.”

Summerfields’ location offers easy access to major highways such as Route 287, the Garden State Parkway and the New Jersey Turnpike, allowing residents to quickly reach the business, shopping and entertainment districts throughout the region, including Princeton, New Brunswick, New York City and Newark Airport. The community is also minutes from public transportation at the New Brunswick Train Station.

Summerfields is next in a long line of distinguished and award-winning residential communities developed by Premier Development in the Somerset section of Franklin Township, recently the highest ranked New Jersey town in Money Magazine’s “Best Places to Live” and one of the best municipalities in which to reside in the country.

“Summerfields follows in the footsteps of our successful communities in Somerset such as our fast-selling Canal Walk active adult neighborhood which is directly across the street and our Cedar Manor community located nearby,” Ms. Christie adds. “This distinct region of the Township has proven to appeal to homebuyers seeking the ideal small-town, suburban environment without sacrificing close proximity to major commuter highways and the popular business centers of central and northern New Jersey.”

For additional information on Summerfields, please call (732) 356-0084 or visit www.premierdevelopment.com. The community’s sales office is open daily. To visit the community from the north, take Route 287 to exit 12. Proceed left on Weston Canal Road 2.5 miles to traffic light at Schoolhouse Road. Make a left and proceed ¼ mile to Rutgers Boulevard. Turn left onto Rutgers Boulevard and follow signs to sales office.

From the south/Princeton, proceed north on Route 206. Approx. ½ mile after the Princeton Airport, bear right onto Route 533 (River Road). Follow approx. 6 miles and turn right onto Route 514 (Amwell Road). Proceed to traffic light at Mettlers Road. Make a left onto Mettlers Road and follow to the end. Turn left and proceed ¼ mile to Rutgers Boulevard. Turn right onto Rutgers Boulevard and follow signs to sales office.

The GPS address for Summerfields is 63 Schoolhouse Rd., Somerset, NJ 08873.

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Posted in Premier Development, Press Releases | Tags: , , , ,

Posted by: cahncomm | January 12, 2012

THE VUE GRAND OPENS TO THE PUBLIC WITH LUXURY CONDOMINUM AND RENTAL RESIDENCES

The City’s Tallest Residential Tower is Located Adjacent to Downtown New Brunswick’s Train Station

NEW BRUNSWICK, January 11, 2012 – The Vue has officially grand opened to the public with a unique mix of Penthouse condominium and luxury rental residences in the heart of New Brunswick, NJ’s burgeoning downtown district.

Ideally located on Somerset Street and Easton Avenue with direct walkway access to New Brunswick’s train station, which offers express service into Manhattan and Philadelphia, the 23-story building is the City’s tallest, offering impressive views of the Raritan River and New Brunswick skyline. The first eight stories consist of 57,000 square-feet of retail space including a full-scale Barnes & Noble to also serve as the bookstore for Rutgers University and a Brother Jimmy’s BBQ restaurant, 57,500 square feet of commercial space and a 657-vehicle parking garage, according to New Brunswick Development Corporation (DEVCO) and Pennrose Properties, the partnership developing The Vue.

Situated on top of the retail component is a 14-story residential tower that houses 150 upscale rental residences and 42 Penthouse condominiums that occupy the top three floors. Initial occupancy for the residential homes is expected in February.

“The Vue is a gateway to New Brunswick,” says Christopher J. Paladino, President of DEVCO. “New Brunswick is a sophisticated urban destination and The Vue brings an iconic new building to the City featuring exceptional homes, first-class amenities, and a convenient location encouraging the use of public transportation.”

“This is a true transit-oriented development,” adds Timothy Henkel, Senior Vice President of Pennrose Properties, LLC. “We will appeal to both current New Brunswick residents looking to upgrade their lifestyle as well as those from surrounding areas who are attracted to the City’s pedestrian-friendly, convenient, downtown lifestyle.”

The Vue has debuted with two professionally-decorated model residences. One home displays the luxury finishes and appointments of the condominiums, while the second model illustrates those of the rental residences.

One- and two-bedroom condominium homes at The Vue range in size from 773 to 1,216 square feet of living space and are initially priced from $277,000. The well-appointed residences feature hardwood flooring throughout the living and dining room, recessed lighting, and open gourmet kitchens complete with custom cabinetry, granite countertops and backsplashes, and state-of-the-art, stainless steel GE Energy Star appliance packages. Master baths are adorned with silvery gray granite countertops and marble flooring, elegant arctic white title shower surrounds, custom café vanities with polished chrome fixtures and glass-enclosed showers. Each home also includes a washer and dryer.

The Vue also offers a mix of one- and two-bedroom rental homes with myriad upscale features, including hardwood flooring in living and dining rooms, gourmet kitchens with grey oak cabinetry, quartz countertops and stainless steel GE Energy Star appliances; luxurious master baths and in-home washer and dryers. Monthly rents for these residences begin from $1,800.

“The rare offering of both condominium and rental residences opens this community up to consumers with a wide range of lifestyle needs, all of whom will appreciate the exceptional value found here in terms of upscale finishes, superb amenities and services and an ultra convenient location,” notes Jacqueline Urgo, President of The Marketing Directors, Inc., exclusive sales and leasing agent for The Vue.

“Resort-like amenities include an attended, custom designed lobby; fully-equipped fitness center and residents-only lounge featuring a billiards table, flat screen televisions, WiFi business bar and a separate catering kitchen and conference room. The Vue has also partnered with Verizon’s Virtual Concierge service to provide residents with additional services such as dining and building event reservations, and the ability to manage local venders (i.e. drycleaner, florist, housekeeping service, etc.) remotely. Residents will also appreciate the convenience of direct access to the New Brunswick Train Station and on-site parking garage, as well as a location next to Rutgers University and all the entertainment and cultural delights of New Brunswick.”

Designed by Manhattan-based Meltzer/Mandl Architects, PC, the building’s exterior is notable for its multi-toned red brick and white façade and distinguishing exterior

“R-U-T-G-E-R-S” clock above the street level entrance to the Barnes & Noble College Bookstore. Additional retail and commercial space already secured at the building include offices for the New Brunswick Parking Authority and Starbucks, while the 62,000 square-foot RWJ Fitness & Wellness Center along with The Fresh Grocer, a full-service supermarket, are currently under construction across the street and slated to open fall 2012.

For additional information on The Vue, please call 732-828-0111 or visit www.TheVuenj.com. The building is located at 110 Somerset Street, New Brunswick, NJ. The onsite sales and leasing office is open Monday thru Friday from 10:00am to 6:00pm and Saturday and Sunday from 11:00am to 6:00pm.

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Posted in Pennrose, Press Releases, The Marketing Directors | Tags: , , , , , ,

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