Tag Archives: Sheldon Good & Company

SHELDON GOOD & COMPANY TO AUCTION PORTION OF CONNOLLY MULTI-FAMILY PORTFOLIO IN PENNSYLVANIA AND NEW JERSEY

Posted on February 24, 2010 | Leave a comment

Carteret Arms features 276 studio, one- and two-bedroom homes located at 333 West State Street.

Five Properties To Be Sold “Absolute” on March 23rd

NEW YORK, N.Y. — Sheldon Good & Company, a Racebrook Portfolio Company, has been retained to sell five apartment buildings in Trenton, NJ and Allentown, PA operated by Connolly Properties, Inc. during a one-day-only real estate auction on March 23rd.

The assets will be sold separately and “Absolute,” regardless of price, according to Jeffrey Hubbard, Senior Managing Director for Sheldon Good & Company, America’s leading real estate auction marketing firm.

Suggested opening bids for the properties range from $500,000 to $6.5 million. The March 23rd auction will be held at the Hilton Woodbridge at 120 Wood Avenue, Iselin, NJ.
Registration begins at noon; the auction commences at 1 p.m. Certified or cashier’s checks in varying amounts depending on property are required to buy.

“Connolly Properties, Inc. is an owner/operator of a large portfolio of multi-family properties in the New Jersey and Pennsylvania marketplace,” notes Mr. Hubbard. “As part of a corporate reorganization, they have targeted select assets within their portfolio to sell at this time, and have elected to do so through an auction process. We’re delighted that Connolly and its Lenders have placed their confidence in Sheldon Good & Company to carry out the auction, which we believe is the most efficient and cost-effective method of expediting the sale of these properties. We’re confident that our proven auction model will achieve the results sought by all parties involved.”

Ron Simoncini, a Connolly Properties spokesman, said: “It would be difficult for us to seem enthusiastic about giving up any of our properties — we believe in all of them. But the reality is, the intelligent strategy is for us to sell select assets in the portfolio, reform our capital base and satisfy our obligations to creditors.”

Three of the five properties are located in Allentown, PA. They include:

• Washington Crossing: A mix of 108 studios and one-bedroom rentals located on a
6.8- acre site at 509 East Mosser Street. The four-building garden-style apartment complex features three-story brick facades and on-site resident parking. The gross potential income is $745,000. On-site inspections are available from 10:00 a.m. to 1:00 p.m. on February 25th and March 4th, 11th and 18th;

• The Livingston: A historic, six-story apartment building consisting of 36 studio, one- and two-bedroom homes located at 1411 West Hamilton. The Beaux Arts-inspired property is vacant and can be converted into rental homes or for-sale condominiums. The building features a large lobby and meeting area on the first floor. On-site inspections are available from 10:00 a.m. to 1:00 p.m. on February 25th and March 4th, 11th and 18th;

• Julian Court: A four-story, 20-apartment brick building at 1521 West Union Street. The complex of studios, one- and two-bedroom residences also features on-site laundry facilities and a parking garage and lot located on 116 South Fulton Street. On-site inspections are available from 10:00 a.m. to 1:00 p.m. on February 25th and March 4th, 11th and 18th.

In Trenton, New Jersey, properties to be sold at auction include:

* Carteret Arms: 276 studio, one- and two-bedroom homes located at 333 West State Street. The building is being sold subject to US Bankruptcy Court approval. The fully-amenitized, 15-story elevator building features a fitness center, laundry room, 24-hour security and lobby-level grocery store and restaurant/coffee shop. Gross potential income is $2,400,000. Property tours will begin at 10:00 a.m. on February 24th and March 3rd, 10th & 17th;

* Grand Court Villa: A renovated 63-unit building at 507 Grand Street. The Iberian-style masonry building consists of one-and two-bedroom rental homes, some with finished or partially finished basements with direct garage access. Building amenities include spacious lobby and common areas, fitness center, laundry rooms and heated garage. Gross potential income is $809,000. Property tours will begin at 1:00 pm on February 24th and March 3rd, 10th & 17th.

A detailed Bidder’s Information Packet has been assembled containing pertinent information specific to each property, the auction, and the Terms of Sale, and can be purchased by calling 800-516-0014. The purchase of a Bidder’s Information Packet is required in order to bid at the auction.

For more information, call Sheldon Good’s auction line at 800-516-0014, FAX the company at (212) 213.9802, or visit its Connolly auction webpage at .

About Sheldon Good & Company

Sheldon Good & Company (www.sheldongood.com) is the nation’s premier real estate auction firm. Founded in 1965, the company has sold over 40,000 properties in all asset classes via real estate auction. Our innovation is widely acknowledged by prestigious publications such as Forbes, Fortune, The Wall Street Journal and others. Owned by Racebrook Capital, a private equity firm, Sheldon Good & Company’s headquarters are located in New York City, with primary offices in Chicago, Denver, Scottsdale and San Francisco — and strategic locations nationwide.

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WATERFRONT ESTATE ON MERCER ISLAND, WA TO BE SOLD AT AUCTION BY SHELDON GOOD & COMPANY

Posted on February 19, 2010 | Leave a comment

22,800-sq.-ft. Mansion On Mercer Island’s North Shore Just Outside Seattle and Bellevue Offered For Sale In Sealed-Bid Format

CHICAGO, IL – A majestic 22,800 square-foot waterfront estate situated on the north shore of Lake Washington’s Mercer Island just outside Seattle and the City of Bellevue is being offered for sale in a sealed bid auction by Sheldon Good & Company, A Racebrook Portfolio Company, in association with G.A. Strunk Group, licensed Washington broker. Previously listed at $40 million, the home will be sold subject to a qualified minimum bid of $15 million.

The Mediterranean-inspired, three-story mansion lies on two manicured acres. The property includes a multitude of formal and informal living spaces, including two master suites, four additional guests rooms, sumptuous master bath salon, three kitchens, personal workout gym, two wine cellars and an indoor sixty-six foot salt water pool, according to the New York-based, national real estate auction firm.

The sealed-bid deadline is April 14, 2010.

“The real estate auction is a smart business strategy to sell and acquire truly unique trophy homes. Those on both sides of the auction, purchasers and sellers alike, have come to find tangible value in this marketing and sales method,” according to Craig Post, managing director of Sheldon Good & Company.

Mr. Post added: “The auction is now utilized with credibility and confidence for real estate sales and acquisitions in the same way it is for fine art, gold, jewelry, wine, and other rare collectibles. The auction allows the seller to find the market value of the property with buyers naming their price.”

Interiors are defined by the finest natural materials and meticulous attention to detail, from gold leaf cove ceilings and silk wall treatments to Italian marble and hardwood floors. The grandeur of the living space is exemplified by its centerpiece, a one-of-a-kind 12-foot Chihuly Chandelier in the Grand Entry.

Outside, the R. David Adams-designed grounds are a palate of textures and colors year-round, blending masterfully with the mansion’s graceful French limestone and stucco exterior façade. Carefully-planned, the estate is cohesively unified with its landscape and perfectly situated to ensure stunning views of Lake Washington, Seattle and beyond from every window.

The sprawling, lush grounds at the Mercer Island home also feature a sizeable greenhouse, formal outdoor pool with fountains, meandering walking path leading to the lakefront, a stocked trout pond, and a deep water dock that previously accommodated a 140-foot yacht.

Mercer Island is situated just east of downtown Seattle and west of Bellevue, offering quick access via Interstate 90 to some of the State’s most popular entertainment, business and cultural epicenters. Local boutiques, shops and services can be found on the Island.

A Bidder’s Information Packet priced at $75 is a requirement for bidding, as well as a certified or cashier’s check totaling five percent of the total bid. Sealed bids are due at Sheldon Good & Company’s Chicago office by 2:00 pm Pacific Standard time on April 14th, 2010 and should be delivered to Sheldon Good & Company, Attention: Mercer Island Project Manager, 333 West Wacker Drive, Suite 400, Chicago, IL 60606.

Interested bidders can view the estate by appointment only. For further information, please contact Sheldon Good & Company at (800) 315-2199, or visit ¬ www.sheldongood.com/mercerisland.php.


About Sheldon Good & Company
Sheldon Good & Company (www.sheldongood.com) is the nation’s premier real estate auction firm. Founded in 1965, the company has sold over 40,000 properties in all asset classes via real estate auction. Our innovation is widely acknowledged by prestigious publications such as Forbes, Fortune, The Wall Street Journal and others. Owned by Racebrook Capital, a private equity firm, Sheldon Good & Company’s headquarters are located in New York City, with primary offices in Chicago, Denver, Scottsdale and San Francisco — and strategic locations nationwide.
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18 LUXURY CONDOS OVERLOOKING SEVEN BRIDGES GOLF COURSE OFFERED IN DECEMBER 16 CLOSE-OUT AUCTION

Posted on December 2, 2009 | Leave a comment

One-, Two- And Three-Bedroom Residences Will Be Sold At Minimum Bids Up To 50% Below Original Prices

WOODRIDGE, IL — The final 18 residences at Seven Bridges, a 140-unit luxury condominium building overlooking the Seven Bridges Golf Club, will be sold at a close-out auction on Wednesday, December 16th by Sheldon Good & Company (www.sheldongood.com).

The accelerated sales event is the second phase of a two-part series which started with a July 26th auction also conducted by Sheldon Good & Company that resulted in 35 sales. Based on the success of that one-day campaign, the developer, RTG – Seven Bridges, LLC, commissioned the national real estate auction company to execute a second program to complete sales at the building.

The final 18 homes in the 12-story, curved-glass tower in Woodridge, Illinois will be sold subject to minimum bids from $125,000 — up to 50% below the original asking prices which ranged up to more than $500,000.

The one-day, outcry auction will be held at the Lisle Hyatt, located at 1400 Corporetum Drive, Lisle, Illinois. Registration begins at 6:00 p.m., with the auction commencing at 7:00 p.m. The residences may be viewed on November 29th and December 5th, 6th, 12th and 13th from 12:00 to 3:00 p.m. and December 9th and 15th from 3:00 to 6:00 p.m.

“We haven’t seen a multi-phase auction campaign in this marketplace before, but the developer recognized the potential for such a program which was validated by the success of the first auction,” notes Craig Post, Director of Sales of Sheldon Good & Company.

“Rather than continuing on with a protracted conventional marketing and sales program, RTG – Seven Bridges, LLC opted for a second accelerated sales event which will close out the building and result in considerable savings that are passed onto the buying public though discounted pricing. It also provides further evidence that in today’s climate, well-conceived and executed real estate auctions can be effective during various stages of a program, from grand opening a building to accelerating an existing campaign to a closing out a property.”

Buyers at the auction at Seven Bridges can choose from among six distinctive one-, two- and three-bedroom floor plans — some with dens — ranging in size from approximately 1,018 to 1,759 square feet. Kitchens feature custom cabinetry and granite countertops, while spacious master bedrooms offer luxurious master baths.

“Every home boasts stunning views maximized by an abundance of windows and a private balcony or terrace,” points out Mr. Post. “In addition, homeowners enjoy such upscale building amenities as an elegant lobby with a 24-hour doorman, indoor parking, rooftop terrace with adjacent party room and an outdoor pool with expansive sundeck.”

Seven Bridges is within walking distance of the new Main Street at Seven Bridges which offers fine dining, shopping and entertainment, while downtown Chicago is easily accessible via Metra in neighboring Lisle.

For further information, visit www.sheldongood.com/sevenbridges.php, call Sheldon Good & Company’s auction hot line at 312-373-4300, or email auctionrequest@sheldongood.com. Broker participation is welcomed.

About Sheldon Good & Company
Sheldon Good & Company (www.sheldongood.com) is the nation’s premier real estate auction firm. Founded in 1965, the organization is frequently acknowledged as the innovator and leader in real estate auctions by prestigious publications such as Forbes, Fortune, The Wall Street Journal and others. The firm has sold more than 40,000 properties in all asset classes with sophisticated accelerated marketing programs and superior real estate expertise. Owned by Racebrook Capital, a private equity firm in New York, Sheldon Good & Company has regional offices in New York, Chicago and San Francisco. Sheldon Good & Company has been rated the premier real estate auction company by a number of prestigious financial publications. The company has aggregate sales of over $10 billion.
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Pillsbury Home On The Block

Posted on December 1, 2009 | Leave a comment

November 23, 2009

Pillsbury Home On The Block

by Francesca Levy

The 40,000 square-foot manse goes up for auction next month. But will it sell?

Sheldon Good & Company auctioners has undertaken a massive task–40,000 square feet, to be exact. It will put on the block Southways, the Lake Minnetonka, Minn., estate of Pillsbury founder John Pillsbury, on Dec. 9.

It’s a bit of a last-ditch effort. The sprawling 1918 home has sat on the market saddled with a $53.5 million price tag for over two years. That’s not uncommon; luxury homes in this price range often remain for sale even longer. As to why there is such a sudden rush to move the property, Craig Post, managing director of Sheldon Good, says that its owners, who bought the home from the Pillsbury family in 1992, have relocated to Arizona and are simply ready to sell.

Post says the auction is meant to generate publicity and speed up the sale, but he is reluctant to guess a final price.

“We have sold many homes at this price point and of this caliber,” he says. “I don’t predict pricing; we allow the marketplace to do that.”

Some say the marketplace won’t be kind. Though the compound offers no lack of sweeping views and eye-popping interiors, restored antique details and features like a pool, tennis courts, gardens and a greenhouse, it may still be hard to unload. But John Brian Losh, CEO of Luxuryrealesate.com estimates that the estate will fetch around $25 million to $30 million.

“Anybody who has a luxury home on the market at this time is a ‘have-to-sell,’ rather than a ‘want-to-sell,’” he says. “

For whatever reason, they want to get it sold this year and they can’t wait.”

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16 LAKEFRONT TOWNHOMES ON PRISTINE GEORGIA LAKE OFFERED IN DECEMBER 13 CLOSE-OUT AUCTION

Posted on November 18, 2009 | Leave a comment

4- & 5-Bedroom Residences With Individual Boat Slips Will Be Sold At Minimum Bids Up To 64% Below Original Prices

EATONTON, GA – The final 16 lakeside residences at the Peninsula, a 36-unit luxury townhome community in this pristine town on Lake Oconee, a popular resort area 90 minutes east of Atlanta, will be sold at a close-out auction on December 13th by Sheldon Good & Company (www.sheldongood.com).

Closeout pricing gives buyers the unique opportunity to own luxury residences, situated on Lake Oconee. Each townhome is assigned its own boat slip. Minimum bids are up to 64% below the original asking prices, which ranged as high as $739,000.

Seven homes are guaranteed to be sold subject to minimum bids from $250,000.

The seller selected Sheldon Good & Company based on its nation-wide track record of executing successful accelerated sales programs that effectively reinforce value for prospective buyers through competitive bidding. The auctions essentially cut months off of conventional marketing programs, resulting in considerable savings that are passed onto the buying public through discounted pricing.

The Peninsula’s open outcry auction will be held at the Renaissance Waverly Hotel, located at 2450 Galleria Parkway, Atlanta, GA. Registration begins at 11:00am with the auction commencing at noon.
Homes offered at the auction may be viewed on November 14th, 15th , 21st, 22nd, 28th and 29th, and December 5th, 6th, and 12th, from 11am to 3pm.

“The one-day auction event will be a rare opportunity to acquire remarkable, well-appointed residences in a breathtaking, resort location at significantly discounted prices, notes Craig Post, Director of Sales of Sheldon Good & Company.

“Lake Oconee is well-known for recreational boating and fishing and is close to premier golf courses. The property is also surrounded by beautiful landscaped grounds, a natural preserve with walking trails and is a pet-friendly environment. Thus, the remaining homes in this gated community should strongly attract buyers from Atlanta and its environs who seek a second-home purchase at value-laden prices.”

Buyers at the auction at The Peninsula on Lake Oconee choose from among three distinctive floor plans ranging in size from approximately 2,880 to 3,475 square feet. The three-story residences are notable for an array of custom-design features and resort-like community amenities.

“The Peninsula on Lake Oconee offers the finest in lakefront living,” points out Mr. Post.

“Interiors are distinguished by custom coffered ceilings and wainscot, stone surrounded fireplaces, nine-feet-high archways, wide plank oak floors, designer kitchens with stainless steel appliances, granite countertops and Mouser cabinets; and luxurious spa-inspired baths with chiseled Travertine stone. Residents also enjoy a custom, resort-style pool with cascading waterfall, heated spa, outdoor stone fireplace with grill, covered outdoor pavilion with entertainment area, and men’s and women’s showers and restrooms.”

For further information, visit www.sheldongood.com/peninsula.php, call Sheldon Good & Company’s auction hot line at 1 800-315-2199, or fax the company at (312) 453-7830.

About Sheldon Good & Company
Sheldon Good & Company (www.sheldongood.com) is the nation’s premier real estate auction firm. Founded in 1965, the organization is frequently acknowledged as the innovator and leader in real estate auctions by prestigious publications such as Forbes, Fortune, The Wall Street Journal and others. The firm has sold more than 40,000 properties in over 100 asset classes by leveraging its sophisticated accelerated marketing programs and superior real estate expertise. Owned by Racebrook Capital, a private equity firm in New York, Sheldon Good & Company has regional offices in New York, Chicago and San Francisco. Sheldon Good & Company has been rated the premier real estate auction company by a number of prestigious financial publications. The company has aggregate sales of over $10 billion.
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TWENTY HOMES AT EAST RUTHERFORD, N.J. CONDO SCHEDULED FOR AUCTION ON NOVEMBER 1

Posted on October 12, 2009 | 2 Comments

8 Of the Residences To Be Sold “Absolute” Regardless Of Price
At Well-Located Building Just Minutes From Business Centers in Manhattan & Northern and Central NJ.

EAST RUTHERFORD, N.J. – A selection of 20 residences at Cortland courtland armsArms, a luxury new-construction condominium community in East Rutherford, N.J., is scheduled to be offered at auction on November 1st by Sheldon Good & Company, A Racebrook Portfolio Company, America’s leading real estate auction marketing firm.

Originally priced from $459,900 to $496,500, the two bedroom/two baths, two-bedroom/two-and-a-half baths and duplex residences in the two-building complex at 132 Union Avenue will be released at suggested opening bids as low as $150,000, according to the national real estate auction firm. Eight of the residences will be sold “Absolute,” regardless of price. A 2% discount from the high bid price will be given to purchasers who elect to close within 15 calendar days following the seller’s execution of the contract.

“With opening bids that represent a discount of up to 69% from original prices, this is a fantastic opportunity to own a brand-new, luxury condominium — many of which feature Manhattan skyline and Meadowlands views,” notes Lawrence Samberg, Managing Director of Sheldon Good & Co.

“Residents enjoy the incredible convenience of a location within walking distance of New Jersey Transit buses and trains, as well as easy access to NY Waterway ferries and PATH trains, and a well-developed highway network including the Garden State Parkway, New Jersey Turnpike and Routes 3, 17, 80 and 120 — all providing a phenomenal commute to business centers in Manhattan and northern and central New Jersey.

Building amenities at Cortland Arms feature an in-ground pool and center courtyard. Homes offer a host of upgrades, attractive finishes, stunning views and spacious floorplans ranging in size from 1,225 to 1,281 square feet of luxurious living space.

“These are condominiums of distinctive character, with touches that today’s discerning buyers covet most,” Mr. Samberg indicates. “Gleaming hardwood floors and ceramic tile entryways add a sophisticated air, while open kitchens with stainless steel appliances and granite counters create the perfect place to dine and entertain.

Master bedrooms have en-suite baths and generous walk-in closets. Residents enjoy the convenience of laundry hook-ups in each home and indoor and outdoor parking spaces.”

Considered an inner-ring borough of New York City, East Rutherford is home to the world famous Meadowlands Sports Complex that includes the Izod Center, Giants Stadium and the soon-to-open Xanadu entertainment complex. Cultural and entertainment opportunities are boundless; great shopping, fine dining, and places of worship are within walking distance. In addition, East Rutherford enjoys close proximity to a number of hospitals, public schools, and seven colleges.

The Nov. 1st auction will be held at the Hasbrouck Heights Hilton, 650 Terrace Avenue. Registration begins at 11:00 am; the auction commences at noon. Certified or cashier’s checks for $15,000 are required to buy.

Viewing dates are scheduled for October 10, 11, 17, 18, 24, and 25, from 11:00 am to 2:00 pm. For directions to the community from various locations, please go to “Map this Property” on Sheldon Good’s website: www.sheldongood.com/courtland.php. The property is also accessible via New Jersey Transit bus and rail.

A Bidder’s Information Packet and Public Offering Statement have been assembled, each containing specific information related to the condominiums, the auction, and the terms of sale. The Packet will be available at a cost of $20 during all on-site inspections and at Sheldon Good’s Manhattan Office (635 Madison Avenue, Suite 1203). The material can also be obtained via FedEx second-day delivery for an additional $25.00 shipping fee.

“The purchase of a Bidder’s Information Packet is a requirement to bid,” Mr. Samberg points out.

For more information, call Sheldon Good’s auction line (212 213-9770), FAX the company (212 213-9802) or visit its special website created for this auction (sheldongood.com/ courtland.php).
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ABC 6:00 News Reports on The Saffron in Jersey City Opening Sales With An Auction On November 8th

Posted on October 5, 2009 | Leave a comment

The Saffron, 76 luxury condos just steps from the Grove St. PATH Station in downtown Jersey City

The Saffron, 76 luxury condos just steps from the Grove St. PATH Station in downtown Jersey City

Jersey City real estate hit primetime as Channel 7 featured The Saffron recently on the 6:00 news. The new 76-unit luxury condo building located at 217 Newark Avenue just steps from the Grove Street PATH Station will be introduced to the public on November 8th with a Pre-Grand Opening, one-day-only real estate auction event. Nine homes will be sold “Absolute” regardless of price.

Click here to watch the ABC news clip: Saffron Auction

Here’s the direct link: http://abclocal.go.com/wabc/video?id=7045276

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DEVELOPER TAKES INNOVATIVE PRE-GRAND OPENING APPROACH WITH NOVEMBER 8TH AUCTION FOR JERSEY CITY CONDOS

Posted on September 30, 2009 | Leave a comment

Nine Homes Will Be Sold “Absolute” Regardless of Price
Saffron
JERSEY CITY, N.J. –- The Saffron, a new luxury condominium building located just steps from the Grove St. PATH Station in downtown Jersey City, will be introduced to the public on Sunday, November 8th with an innovative approach to Pre-Grand Opening sales.

Joint venture developers Fields Development Group and TreeTop Development will offer the first nine residences at the collection of 76 one-, two- and three-bedroom homes with a special one-day-only real estate auction event conducted by Sheldon Good & Company, A Racebrook Portfolio Company, America’s leading real estate auction marketing firm.

The nine homes will be sold “Absolute” regardless of price. Suggested opening bids for the design-driven one- and two-bedroom residences will start at just $175,000 — representing extraordinary opportunities for buyers to enjoy exceptional value. A 2% discount will be given to buyers who can close within 15 days of the auction.

The auction will take place at the Westin Jersey City located at 479 Washington Blvd. on November 8th. Interested buyers can view the available homes and furnished model residences during pre-auction Open Houses from 11:00 am to 2:00 pm on October 11, 17, 18, 24, 25, 31; and November 1, and 7.

“In past years, we would have executed a pre-construction sales period where we would have sold a number of homes over the course of six-to-nine months prior to completion of the building,” notes James Caulfield, Jr., President of Fields Development Group. “Buyers who purchased during that period would have benefitted from introductory prices that were lower than the Grand Opening levels.

“Today, we have a different mindset driven largely by current market conditions. As such, we elected to finish the building first and essentially accomplish the results of an entire pre-sales period in one day through a competitive bidding auction event. By accelerating the process, we’re able to pass our savings onto our buyers who will enjoy tremendous value and the option to occupy their new home immediately. The initial sales activity will also create a strong foundation for a conventional sales program that will commence with an official Grand Opening in December.”

While a common practice for developers looking to close out sales at a building, utilizing an auction to launch a sales program is a unique approach.

“It’s an exceptional opportunity for buyers to purchase a brand new home at pre-construction prices at a one-day event,” notes Jeff Hubbard, Managing Director for Sheldon Good.
“And with construction completed, buyers will be able to move into their new home immediately.”

Situated at 217 Newark Avenue, steps from the Grove St. PATH Station, the Saffron is compromised of two five-story condominium buildings connected by a central lobby and complemented by a central courtyard and rooftop terrace. There will also be 3,500 square feet of ground floor retail space and 50 parking spaces.

“This new residence bridges the gap between Jersey City’s built-up waterfront district and a largely untapped residential area,” Mr. Caulfield points out. “With its upscale designs and convenient location, Saffron offers many of the same attributes that have made the downtown district so popular with young professionals and couples, but at much more attractive prices, considerably lower monthly maintenance fees and a five-year tax abatement which all add up to significant value.

“What’s more, the main lobby entrance will be located on Newark Avenue to provide easy access to the many cultural, entertainment and business opportunities in downtown Jersey City. “

Homes range in size from 675 square feet to roughly 1,000 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 lounge with seating and flat screen television and an extensive fitness center.

Designed by Marc 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 Adam Mermelstein, a principal of Newark-based TreeTop Development. “We’ve taken elements of the classic exterior architecture and interior designs that define notable neighborhoods such as Williamsburg and Bedford-Stuyvesant and incorporated them into this community to create a living experience that exude elegance and grace.”

The Saffron will have tremendous appeal to those seeking an upscale urban lifestyle near restaurants, services and mass transportation options in a less-congested neighborhood slightly removed from more populated downtown epicenters. The area is extremely pedestrian-friendly with an abundance of shopping, restaurants and entertainment and cultural opportunities available to reduce the need to travel by car. What’s more, with PATH service steps from the front door, The Saffron is minutes from all that Manhattan and downtown Jersey City have to offer.

For more information on the November 8th auction and to view the available homes at pre-auction Open Houses, call 212-213-9770, email auctionrequest@sheldongood.com or visit www.saffronjc.com.

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