Tag Archives: Hudson County new homes

Some of the Best Purchasing Opportunities Available at Crystal Point on Jersey City’s Waterfront

Some of the best purchasing opportunities are now available at Crystal Point in downtown Jersey City which has already sold an impressive 75% of its upscale condominium homes.

According to developer Fisher Development Associates, the many homes in the current inventory at the magnificent 42 story building directly on the Hudson River offer all the attributes that have led Crystal Point to the most successful sales program in Hudson County in recent memory – value-packed pricing from the upper-$500,000s, unobstructed views of the ever changing Manhattan skyline and Hudson River, easy access to a host of world-class on-site amenities and a key location in close proximity to major public transportation.

Purchasers will also have the added advantage of an active, lively environment with more than 200 residents already enjoying their luxurious lifestyle at Crystal Point.

“Crystal Point is not only drawing the attention of homebuyers in Hudson County and New York City, but also has tremendous appeal to suburbanites in Bergen and Morris Counties who want the well-rounded, resort lifestyle of an upscale urban building which is just across the river and minutes from Manhattan,” says Brian Fisher, President of the firm that bears his name.

“This is true of both empty-nesters who want to trade in large single-family homes for the ease and convenience of maintenance-free living and young families who want to shorten commute times to their employment centers in New York City. At Crystal Point, they can have all this without having to sacrifice the luxury they’ve grown accustomed to.”

The lifestyle that separates Crystal Point is on full display during summer when residents are delighting in the building’s Manhattan-style outdoor amenities. Situated on an expansive outdoor deck of over ten thousand square feet overlooking the Hudson River on the building’s sixth-floor, the outdoor social and recreational amenities are highlighted by a sparkling pool, giant hot tub, private cabanas and lounge chair seating, as well as two BBQs and dining area, fire pit and a children’s play area.

While the outdoor amenities are certainly a hit during summer, residents looking to escape the heat can always head indoors and enjoy 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. There’s also a professional concierge on site and valet parking.

“Crystal Point’s elaborate amenity offering creates the upscale hotel-like living environment that today’s homebuyer desires,” says Mr. Fisher.

“This is on full display during the spring and summer months when our entire amenity package is open and functioning. It allows visitors to get a true sense of how Crystal Point is not just about the homes and finishes, but about providing a comprehensive lifestyle experience that extends beyond the walls of their residence.”

Homes at Crystal Point range from 800 to 1,586 square-feet and offer an array of premium finishes. Residents also benefit from free on-site 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.

“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 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 had magnificent views. Each condominium was designed so from the moment the front door of each home is opened one is aware of the views and the light emanating from the water.

“The layouts of the homes themselves often create large square rooms and sprawling living spaces that are open, airy and extremely functional.”

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.

Crystal Point Records More Than 30 Sales In Just 3 Months

Crystal Point in downtown Jersey City has unquestionably cemented its place atop the Hudson County real estate marketplace with more than 30 sales in just the first three months of 2011.

The 42-story waterfront condominium building has separated itself from the competition with more than 80% of its 269 upscale homes already sold, according to Fisher Development Associates, which is developing Crystal
Point directly on the banks of the Hudson River with majestic and unobstructed views of the New York City skyline.

“Crystal Point is in the midst of one of the most notable sales programs in recent memory,” says Brian Fisher, principal of Fisher Development Associates. “Buyer interest has continued to build since we introduced this building, culminating in one of the most successful sales periods on record and it’s not over yet.

“We fully expect the first quarter of 2011 to be our most noteworthy with more and more prospects realizing the opportunity to benefit from the unrivaled value created by our competitive pricing, magnificent waterfront location and resort-style living environment is quickly dwindling and are acting to purchase before it’s too late.”

See the full clip: Mann Report – Crystal Point

The Marketing Directors Leads Launch of 1100 Jefferson

1100 Jefferson, a new rental building in Hoboken, features 44 residences.

Following the rapid lease-ups of Berkshire at The Shipyard in Hoboken and 225 Grand in Jersey City, The Marketing Directors, Inc. is continuing its impressive foothold on the New Jersey Gold Coast with the successful launch of 1100 Jefferson, a new luxury rental building in Hoboken, NJ.

Retained as the exclusive marketing and leasing agent by Ursa Development for the new six-story building, The Marketing Directors has already leased 36% of the 44 residences in just the first three weeks.

“The demand for superior quality rental buildings throughout Hudson County and beyond is on the rise, and 1100 Jefferson entered the market at an ideal time,” notes Jacqueline Urgo, President of The Marketing Directors, Inc., the 30 year-old Manhattan-based marketing, sales and leasing firm which also counts Crystal Point, Gull’s Cove, Liberty Harbor, The Beacon, the W Hoboken Hotel and Residences and Grove Pointe among its current Gold Coast accomplishments.

“Each property is unique and requires a custom program designed to showcase its strengths and reach its target audience. We certainly have a lot to work with at 1100 Jefferson, and we’re delighted the public has responded so positively.”

1100 Jefferson offers a variety of spacious one-, two- and three-bedroom residences that range in size from 776 to 1,604 square feet and are available from $2,350 per month. Each residence features condominium-style appointments including 9’4” ceiling heights, natural oak hardwood floors, double-glazed Architect Series windows, and gourmet kitchens with contemporary Kitchencraft cabinetry, custom wine racks, polished Ceasarstone countertops, white high-gloss subway tile back splashes, Premium GE stainless steel appliance packages and Kohler fixtures.

Residents also enjoy an assortment of on-site amenities within the pet friendly building including a state-of-the-art fitness center with cardio equipment and free weights, private courtyard with outdoor seating and barbeque, bicycle storage and available on-site parking.

For more information on 1100 Jefferson, please call (201) 963-6330 or visit www.1100jefferson.com. The leasing office is open daily from 10:00 am to 6:00 pm.

Manhattan-Style Amenities Spring to Life at Crystal Point on Jersey City’s Waterfront

Memorial Day weekend signifies the official start of summer for many and residents of Crystal Point in downtown Jersey City are gearing up for the warmer temperatures and anxiously awaiting the debut of the 42-story condominium building’s Manhattan-style outdoor amenities.

Situated on an expansive outdoor deck overlooking the Hudson River on the building’s seventh-floor, the outdoor social and recreational amenities are highlighted by a sparkling pool, giant hot tub, private cabanas and lounge chair seating, as well as two BBQs and dining area, fire pit and a children’s play area.

While the outdoor amenities are certainly a hit during summer, residents looking to escape the heat can always head indoors and enjoy 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. There’s also a professional concierge, valet parking and soon a lobby level restaurant.

“Crystal Point’s elaborate amenity offering creates the upscale hotel-like living environment that today’s homebuyer desires,” says Brian Fisher, a principal of Fisher Development Associates, which is developing Crystal Point directly on the banks of the Hudson River with majestic and unobstructed views of the New York City skyline.

“And this lifestyle is on full display during the spring and summer months when our entire amenity package is open and functioning. It allows visitors to get a true sense of how Crystal Point is not just about the homes and finishes, but about providing a comprehensive lifestyle experience that extends beyond the walls of their residence.”

Crystal Point is in the midst of one of the most notable sales programs in recent memory, with more than 80% of its 269 condominium homes sold and 70% of the residences closed. Available one-, two-and three bedroom homes are priced from the upper $500,000s and range from 800 to 1,586 square-feet and offer an array of premium finishes.

Residents also benefit from free on-site 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.

“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 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 had magnificent views. Each condominium was designed so from the moment the front door of each home is opened one is aware of the views and the light emanating from the water.

“The layouts of the homes themselves often create large square rooms and sprawling living spaces that are open, airy and extremely functional.”

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.

The Marketing Directors Sweeps the Sales Awards at the 2011 NJ SAM Awards

The Marketing Directors’ superstar sales team in Jersey City swept the recent NJ SAM Awards competition, taking home all three top sales awards. The Crystal Point sales trio won Sales Team of the Year, while Grace McCadden was named Sales Manager of the Year and Alyssa Brennan was named Sales Person of the Year. (From Left to Right): Alyssa Brennan, Grace McCadden and Danielle Rosania.

The Manhattan-Based Marketing and Sales/Rental Firm Takes Home Three Prominent Sales Awards for its Success at Crystal Point in Jersey City

The Marketing Directors, Inc. were the winners of all three of the top sales categories awarded at the 2011 Sales and Marketing (SAM) Awards banquet held on Tuesday, April 5th in Atlantic City.

The Manhattan-based marketing and sales firm took home the coveted Sales Team of the Year honor recognizing the outstanding efforts and success of the company’s on-site Crystal Point team — Grace McCadden, Alyssa Brennan, Danielle Rosania, and Vanessa Hauman. The dynamic group has directed the sale of more than 80% of the downtown Jersey City building’s 269 condominium residences, attaining higher dollars than any other project in New Jersey along the way. Grace McCadden also received the prestigious Sales Manager of the Year award and Alyssa Brennan was named Sales Person of the Year for their exceptional achievements on the 42-story building which was developed by Fisher Development.

“Although we cannot make a market, we always make the most of a market,” said Adrienne Albert, Founder and CEO of The Marketing Directors, which specializes in the marketing and sales/leasing of new-construction, high-end residential real estate developments throughout the country. “These awards are proof that we surpass market trends and make our own standards of excellence. This is an outstanding tribute to our exceptional team of professionals who consistently prove to be among the very best the industry has to offer.”

The Marketing Directors also had 17 of its exceptional sales professionals gain admittance to the Million Dollar Club (needing a minimum sales achievement of $5 Million Dollars), nine of whom individually sold over $20 million dollars of new homes during the past year.

Sponsored by the New Jersey Builder’s Association, the SAM Awards annually recognizes the year’s most creative and successful residential programs within New Jersey. This year’s event, the 24th installment, was held at the Trump Taj Mahal Casino and Resort in Atlantic City and kicked off the New Jersey Builder’s Association’s 62nd annual Atlantic Builders Convention.

George Vallone of Hoboken Brownstone Company Named Executive Officer of New Jersey Builder’s Association

George Vallone, President of The Hoboken Brownstone Company

George Vallone, President of The Hoboken Brownstone Company, was recently named an Executive Officer of the New Jersey Builder’s Association (NJBA) at the 62nd annual Atlantic Builder’s Convention held earlier this month in Atlantic City.

Mr. Vallone was installed as Builder Vice President, placing him on the ladder to become President of the NJBA in five years, according to the leading trade association for the construction industry. In his role, Mr. Vallone will serve on a variety of committees and be an active participant setting guidelines on important industry issues, including development, land use, legal, regulations, environmental, legislative and more.

“I’m extremely proud and honored to be named to this position and look forward to working with the diverse group of prominent industry professionals in the NJBA,” Mr. Vallone says. “The organization plays a vital role in setting standards, advocating and representing before the NJ and Federal Legislative Bodies the interests for the entire spectrum of the construction industry and I’m excited to participate in these important initiatives.”

Mr. Vallone is a 31-year veteran of the real estate industry and has extensive experience developing urban housing through a socially conscious approach to development. Mr. Vallone and his co-founder partner for 31 years, Daniel Gans, have been responsible for renovating brownstones, row houses and have built mid-rise and hi-rise condominiums in Hoboken. His general contracting company, Inner City Construction, Inc., (ICCI), has built over 1,000 units of affordable housing for several non-profit church-affiliated and community-based groups and for-profit housing corporations in Jersey City, Newark, Paterson and Trenton. His development companies specialize in large, high-profile, urban mixed-use Brownfield redevelopment projects.

Crystal Point in Downtown Jersey City Records More than 30 Sales in Just Three Months

Crystal Point

Crystal Point in downtown Jersey City has unquestionably cemented its place atop the Hudson County real estate marketplace with more than 30 sales in just the first three months of 2011.

The 42-story waterfront condominium building has separated itself from the competition with more than 80% of its 269 upscale homes already sold, according to Fisher Development Associates, which is developing Crystal Point directly on the banks of the Hudson River with majestic and unobstructed views of the New York City skyline.

“Crystal Point is in the midst of one of the most notable sales programs in recent memory,” says Brian Fisher, principal of Fisher Development Associates. “Buyer interest has continued to build since we introduced this building, culminating in one of the most successful sales periods on record and it’s not over yet.

“We fully expect the first quarter of 2011 to be our most noteworthy with more and more prospects realizing the opportunity to benefit from the unrivaled value created by our competitive pricing, magnificent waterfront location and resort-style living environment is quickly dwindling and are acting to purchase before it’s too late.”

A new professionally designed one-bedroom condominium has debuted at Crystal Point which features a crystalline-style glass exterior and has been designed to maximize the building’s waterfront setting and views of the ever changing Manhattan skyline. Available one-, two-and three bedroom homes are priced from the upper $500,000s and range from 800 to 1,586 square-feet and offer an array of premium finishes.

Residents also benefit from free on-site 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.

“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.”

Crystal Point’s superb amenities include the Crystal Spa with a thermal bath, sauna, steam and treatment rooms. Residents will also enjoy 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.

“An outdoor deck overlooking the Hudson River features a sparkling pool, giant hot tub, private cabanas and lounge chair seating, as well as two BBQs and dining area, fire pit and a children’s play area,” says Ms. Albert. “The building also offers a professional concierge, valet parking and soon a lobby level restaurant.”

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 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 had magnificent views. Each condominium was designed so from the moment the front door of each home is opened one is aware of the views and the light emanating from the water.

“The layouts of the homes themselves often create large square rooms and sprawling living spaces that are open, airy and extremely functional.”

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.

New York Post: Growth Spurt – Families Find the Space They Need in Jersey City

The Beacon in Jersey City


By KATHERINE DYKSTRA
New York Post

Jersey City is growing up. Until recently, the area — a hop, skip and one stop from Manhattan on the PATH — drew mostly first-time buyers and single renters who wanted more bang for their real-estate buck.

“Someone mentioned Newport to us, and we took the PATH out here, and they showed us the apartment, and we were like, ‘We are moving here.’ We made the decision in one day,” says Whitney Malin, who moved with her husband, Jon Dickson, into the Southampton building, which is part of the Newport development — a mixed-use community with 15 residential buildings, comprising more than 4,000 apartments, and a PATH stop.

Whitney Malin and her husband, Jon Dickson, moved from the Upper West Side to the Southampton rental building in Jersey City, where they are raising their 6-year-old twins, Cameron and Sammi.

The couple, who made the move just over six years ago, had been living in a 700-square-foot rental on the Upper West Side for which they paid $1,800. In Jersey City, they got 1,400 square feet, two bedrooms and two bathrooms for “not much more.

“We just kept running from room to room, thinking what people in New York would pay for this,” says Malin, who is raising her 6-year-old twins in Jersey City.

Now the stroller set is descending on the area en masse.

“We’re seeing two-bedroom and three-bedroom homes are much more attractive; it used to be a one-bedroom and studio market,” says Jacqueline Urgo, president of the Marketing Directors, which is marketing a number of projects in the area, including the 269-condo Crystal Point, the 323-condo Gull’s Cove and the 348-rental 225 Grand.

Crystal Point


As evidence, Urgo points to a recent Crystal Point sale of a three-bedroom for more than $1.4 million.

“For Jersey City, this is a very attractive price point, which speaks to the gentrification of the neighborhood. It used to be much younger, 20 and 30, but those age boundaries are extending to families,” she says.

Still, it’s the singles and young couples that are likely driving what many perceive as the rental sector’s resurgence: 225 Grand, with one-bedrooms starting at $1,938 per month (after concessions are factored in) is now 97 percent leased. Aquablu, Newport’s newest rental, starting $2,500 to $3,200 a month for one-bedrooms and two-bedrooms, has only one available unit out of the building’s 355.

“Jersey City is pretty much on fire,” says Brian Collins, area vice president for Equity Residential, which developed 70 Greene’s 480 rentals and has actually increased the rental prices there. When the building started leasing in 2009, studios were $1,700 a month (factoring in concessions); now they run closer to $2,000. “We’re at 96.5 percent leased . . . We beat lease-up projections by about four or five months.”

Not a bad climate for newcomers like Monaco, with 524 units in two 50-story towers, to start leasing. Not a bad one for sales, either.

“Rising rents fuel the sales market,” Urgo says. “People start looking at the rent versus own alternative.”

Indeed, the pace of sales in the Marketing Directors’ Jersey City buildings has increased markedly since the beginning of the year. Crystal Point, for one, has unloaded 29 units since Jan. 1 and is now 80 percent sold.

Over at the Beacon, a 14-acre development situated deeper into Jersey City but with shuttle service to the PATH, the first phase is down to the final nine of its 315 units. And its newest phase, Mercury Lofts, 25 half- and full-floor lofts measuring 2,994 to 6,665 square feet, has just been launched.

Whitney Malin and her husband, Jon Dickson, moved from the Upper West Side to the Southampton rental building (above) in Jersey City, where they are raising their 6-year-old twins, Cameron and Sammi.

Also new is Hamilton Square, the renovation of a former hospital into 124 residences, with studios through three-bedrooms.

Most developments are doing their best to attract the couples-with-kids set by adding as much family-friendliness as they can muster. Gull’s Cove, for example, has leased its retail space to a day-care center.

“When we started the first phase [of the Beacon] we had more young professionals with less attachments, as it were. What we started to find in the last year and a half, out of the 40 sales we did in a stretch, 30 were couples with small kids or who were expecting,” says George Filopoulos, president of Metrovest Equities, which developed the Beacon. “We felt the best type of retail was that that would emphasize family living.”

And emphasize it they have. BeKids at the Beacon is a dedicated 66,000 square feet for children that will open in Spring 2012. It will include an early childhood education center, gymnastics and a sports camp. Little Explorers Academy has already signed a lease to open a day-care center for kids ages 6 weeks to 5 years. It should be ready this summer. Also approved is M.E.T.S., a charter school slated to open this fall for sixth through ninth grade, with plans to add grades 10 through 12 in subsequent years. The Beacon is looking for a school for kindergarten through fifth grade to open the following fall.

“We’ll have top-notch education from 6 weeks old to when they go off to college,” says Filopoulos, whose Mercury Lofts start in the low $800,000s. A full floor is about $1.5 million.

“We have two on-site playgrounds, a seasonal skating rink and just had a retailer called Bambi Baby open up,” says Mario Gaztambide, vice president of residential asset management at the LeFrak Organization, which developed Newport.

Additionally, most of Jersey City’s new buildings offer scads of amenities competitive with what you’d find in Manhattan.

Hamilton Square has a lap pool, a roof deck with barbecue and a courtyard. Units there are priced between $500 and $600 a foot.

At 70 Greene, there’s 8,000 square feet of indoor amenity spaces, including a screening room, a pool table, virtual golf, a pet spa and refrigerated storage for FreshDirect deliveries.

Monaco has a clubroom with billiards and flat-screen TVs, a fitness center, a screening room, a yoga studio, a pool deck and a dog run. (At Monaco, residents have to pay $600 per lease term to use said amenities. It’s $750 at 70 Greene.)

“I think when you’re dealing with this kind of community, these are renters by choice — not renters by necessity . . . so having a robust amenities package is consistent with that,” says Carl Goldberg, managing partner at Roseland Property Company, which developed Monaco. “In order to be a top-tier building, you have to have a full, expansive amenity package.”

Units at Monaco start at $1,875 per month for a 650-square-foot studio and $2,350 for an 845-square-foot one-bedroom. Certainly less expensive than what you’d find in Manhattan’s Financial District — but not cheap.

“For what I’m paying and where I’m at, it would be more for this in New York,” says Joelle Dunrovich, who lives in 70 Greene, where one-bedrooms go from $2,425 to $3,415. “There is good value out here. It’s not a bargain, it’s just better value. You do get more space.”

Read more from the New York Post.

Residences at Henley on Hudson Surpasses 50% Sold

The Residences at Henley on Hudson is a distinctive six-story building that features 27 single-level residences impressively priced from $489,000.

2011 Sales Success Spurs Developers To Begin Planning New Phase Of Homes

An impressive sales surge since the beginning of the year at The Residences at Henley on Hudson has pushed the luxury condominium community in Weehawken, NJ facing midtown Manhattan beyond the 50% sold mark.

With interest remaining high on the remaining homes, a number of homeowners already moved in and additional closings scheduled for the coming weeks, developers Lennar Urban and Roseland Property Company are already making plans to bring a new phase of homes to market soon.

“It’s been a fantastic few months,” notes Craig Klingensmith, Lennar Urban’s Northeast Division President. “Buyers have responded positively to the new floorplans and continue to embrace the desirable waterfront lifestyle afforded them by residing within Port Imperial. We’re looking forward to completing the sales program for the current phase of homes and moving forward with the new building soon.”

Located in a distinctive six-story building, The Residences at Henley on Hudson features 27 single-level residences. The new homes are priced from $489,900 for one-bedroom homes and from $839,900 for two-bedroom residences. Immediate occupancy is available. The residences feature a wide range of upscale finishes and appointments, including open gourmet kitchens and solid hardwood floors.

Residents also enjoy all that Henley on Hudson has to offer, including an all-encompassing amenity package and convenient public transportation. The Club at Henley is a private 6,000 square-foot clubhouse featuring a club room, theater room, billiards and gaming lounge, state-of-the-art fitness center, Yoga/Pilates room and a Children’s Play Studio. An outdoor, resort-style infinity pool surrounded by tasteful landscaping opened this summer. The elegantly-designed, multi-level clubhouse is complemented by comprehensive Concierge services to create an at-home resort-like living experience.

An abundance of open space has also been carefully incorporated within Henley on Hudson and throughout Port Imperial for active and passive recreation, including tree-lined walking and jogging paths and English Gardens.

Residents also enjoy Port Imperial’s vibrant retail offering which features boutique shops, restaurants, a gourmet supermarket and services, while the Port Imperial Ferry Terminal provides direct service to Manhattan and the Light-Rail station offers access to the PATH station and towns throughout the ‘Gold Coast.’ The result is a private, picturesque neighborhood ambiance comprising a thoughtfully-balanced offering of distinctive residential options, desirable open space, exciting shopping, dining and retail conveniences; and convenient mass transportation all hugging the Hudson Riverfront.

For additional information on Henley on Hudson and The Residences at Henley on Hudson and to view the furnished model home, please call (201) 864-7788, or visit the community’s website at www.henleyonhudson.com. The community’s onsite Sales Center is open daily from 10 a.m. to 6 p.m. and is located at 43 Eton Row, Weehawken, New Jersey 07086.

Hoboken Brownstone’s George Vallone to Headline Economic Redevelopment Forum at 2011 National Brownfields Conference

George Vallone

George Vallone, President of The Hoboken Brownstone Company, will headline a new forum designed to provide owners of contaminated properties the opportunity to market their assets to the real estate development industry at the 2011 National Brownfields Conference April 3rd-5th in Philadelphia.

Mr. Vallone will serve as keynote speaker for the Economic Redevelopment Forum which will not only allow property owners, redevelopment agencies, and communities the chance to directly exhibit their contaminated properties to real estate developers, but has been expanded to include representatives of Federal and State agencies who will discuss financial incentives and regulations that encourage Brownfield development in today’s difficult economic climate.

“The Economic Redevelopment Forum originally began as session where developers could meet with owners of contaminated properties and discuss development opportunities,” Mr. Vallone says. “However, as the economy has shifted, many developers face new challenges in finding real estate investment funds and securing financing and the forum will now address these concerns.

“The new structure of the forum will also focus on regulations and programs that support Brownfield redevelopment, as well as, outline methods owners and developers can use in order to obtain capital needed to move forward with projects.”

Mr. Vallone will focus on “Successful Land Development Strategies Using Structured Seller Financing and Joint Ventures” and outline 11 different financing structures developers and owners can utilize to cooperate in Brownfield redevelopment. The methods Mr. Vallone will discuss in detail ranked by risk to seller include:
1. Full Joint Ventures;
2. Sale contract with all approvals contingency, extended time to close, and a formula sale price;
3. A sale contract with Seller unsecured Junior financing;
4. A sale contract with Seller secured Junior financing;
5. A sale contract with Seller senior secured mortgage financing;
6. Option to purchase in phases (combines benefits of #’s 7 & 8);
7. A sale contract with a phased take down;
8. Option to purchase the entirety;
9. Sale contract with extended time to close with contingencies at a fixed price;
10. Sale Contract with a “Responsible Party” who prefers to remediate itself prior to transfer of title;
11. All cash, no contingencies, quick close contract.

Following the Economic Redevelopment Forum, Mr. Vallone and representatives of Federal and State agencies will be available to meet with attendees to discuss specific development opportunities.