THE SAFFRON IN DOWNTOWN JERSEY CITY RECORDS MILESTONES

76-Home Condo Building Nearly 40% Sold; First Homeowners Have Arrived

JERSEY CITY, NJ – The Saffron in downtown Jersey City is quickly making headlines with significant milestones being recorded daily at the upscale collection of 76 luxury condominium homes located just two blocks from the Grove St. PATH Station.

A strong attraction to the luxury, value and affordability being offered in the boutique building and the continued desire to reside in this dynamic urban setting has spurred significant buyer activity, resulting in nearly 40% of its condominium homes sold since sales opened earlier this year, according to its developer, Fields Development Group.

In the past several weeks alone, sales have seen a considerable uptick at The Saffron as buyers rush to purchase its “Immediate Occupancy” condominium homes before the end of the federal tax credit, which offers up to $8,000 for qualified first-time buyers and $6,500 for those who own a home for at least five years if they purchase by April 30th and close by June 30th.

The noteworthy announcements do not end there, points out James Caulfield, Jr., a principal of Fields Development Group. The Saffron has also celebrated the arrival of its first homeowners over the past several weeks – an important milestone signifying the building’s transition into an active, lived-in community.

“This is a very exciting time at The Saffron as the building begins to fulfill its promise of becoming a unique and sought-after residential address in this celebrated Hudson County city,” Mr. Caulfield says. “Our initial occupants have arrived and we expect more to join them each and every week.

“As a result, visitors to our on-site sales center can now obtain a comprehensive look at The Saffron with a first-hand account of both the elegance and grace of our model homes and the building’s bustling and close-knit urban environment – a combination that has had strong appeal to buyers looking for Jersey City’s best housing value.”

One-, two- and three-bedroom residences housed in the two five-story Saffron buildings are initially priced from the low-$300,000s. Immediate occupancy is available.

“Here, homebuyers will discover new-construction, well-conceived floorplans complemented by cutting edge finishes, desirable outdoor space and convenient enclosed parking at a price point that is far below what’s found at new developments in the area,” Mr. Caulfield says.

“What’s more, our monthly maintenance fees are close to $500 less than comparable competition, with one-bedroom homes starting at $149 a month and two-bedrooms starting at $208. And buyers will certainly appreciate our location in the heart of downtown Jersey City just steps from the PATH Station and myriad of dining, shopping and nightlife options; and minutes from the bustling waterfront.”

The Saffron is being made even more attractive to homebuyers thanks to the added value of a five-year tax abatement and its impending approval from the Federal Housing Administration (FHA) which will allow qualified purchasers to take advantage of FHA financing that requires as little as 3.5% down.

Situated at 217 Newark Avenue, The Saffron’s two five-story condominium buildings are connected by a central lobby and complemented by a central courtyard and rooftop terrace. There’s also 3,500 square feet of ground floor retail space and 50 enclosed parking spaces. The main lobby entrance is located on Newark Avenue to provide easy access to the many cultural, entertainment and business opportunities in downtown Jersey City.

One-, two-and three-bedroom homes range in size from 675 square feet to roughly 1,200 square feet of living space and offer modern and trendy interior elements such as man-made stone countertops, custom white high-gloss cabinets, bamboo hardwood flooring, custom ceramic tile baths, stainless steel appliances and designer fixtures. In addition to the courtyard and rooftop decks, building amenities include a roof lounge with seating and flat screen television and an extensive fitness center.

Designed by Mark Gould Architects, the buildings feature an elegant brick façade with glass and corregated metal accents. Inside, homes rival those found in historic brownstones, townhomes and upscale condominiums in Brooklyn. Most of the residences feature outdoor spaces such as private terraces.

“The Saffron is an appealing alternative to the high-rise condominium buildings that line the Hudson River,” says Marco Tartaglia, Realtor at Boutique Realty, exclusive sales and marketing agent for The Saffron. “The developer has taken elements of the classic exterior architecture and interior designs that define notable neighborhoods such as Williamsburg and Bedford-Stuyvesant and incorporated them into these buildings to create a living experience that exudes urban charm.”

For more information on The Saffron or to visit the building’s furnished model homes, please call 888-9-SAFFRON or visit http://www.saffronjc.com.
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